Insurance company will not consider AWD only AGE & mileage for write off

Seth Brundle

https://www.boards.ie/discussion/comment/120234962#Comment_120234962

Have you never rang around for a cheaper quote? Was everyone charging you the same price?

The Irish insurance market isn't very competitive simply because it is a small market with exorbitant costs (legal, etc) but it is competitive nonetheless.

Allinall

https://www.boards.ie/discussion/comment/120235025#Comment_120235025

Why should it be?

Then their competitors would know their business strategies.

No business operates on the basis that they disclose their pricing structures.

What difference would it make if they were transparent as to how they operate?

Henry Ford III

This thread would be better placed on the insurance forum surely?

monkeybutter

https://www.boards.ie/discussion/comment/120235072#Comment_120235072

I mean its not just me, the CCPC did an investigation on them for basically breaking competition law

for me not really

with 6 or 7 players in the market, plenty of spoke for competion, how big do you think the market needs to be? 2+ Million car insurance policies

Seth Brundle

https://www.boards.ie/discussion/comment/120236741#Comment_120236741

I mean its not just me, the CCPC did an investigation on them for basically breaking competition law

...and found nothing substantial...

...the CCPC was concerned that these statements could be considered price-signalling, which is a breach of competition law.

The investigation identified certain competition law concerns and the CCPC issued preliminary findings to seven parties in September 2020. These preliminary findings set out the CCPC’s initial view that the parties (or in the case of Brokers Ireland, its predecessor organisation, the IBA) may have engaged in conduct that potentially infringed section 4 of the 2002 Act and Article 101 TFEU in the period between January 2015 and September 2016. The organisations involved denied their involvement in a breach of competition law and there was no finding of liability.

...but...

The CCPC’s preliminary findings identified specific alleged conduct and behaviour by the Irish Brokers Association, one of the two associations that amalgamated to form Brokers Ireland, which raised serious competition concerns. Brokers Ireland, whose membership comprises over 1,200 insurance and financial brokers, and who partner with a number of major insurers, declined to enter into legally binding commitments.

So it possibly looks more like the brokers were not playing fairly rather than the insurance companies.

https://www.ccpc.ie/business/ccpc-publishes-report-on-private-motor-insurance-investigation/

with 6 or 7 players in the market, plenty of spoke for competion, how big do you think the market needs to be? 2+ Million car insurance policies

erm, I did say that it was competitive. I just made the point that it isn't very competitive.

monkeybutter

https://www.boards.ie/discussion/comment/120236794#Comment_120236794

they agreed to make changes without admitting liability, hard to prove without a smoking gun and as they are super secretive, how do you find this

They were so blatant with the price signalling they couldnt even deny it

that is not the same as doing nothing wrong

they got agreement on changes from all the big insurance companies as a compromise

the brokers wouldn't agree to anything, shows how toothless they are

the size of market is big enough for it to be very competitive, not even sure what exactly you were trying to say there, yet they all move in sync, kind of a throw away thing to say

Eggs For Dinner

Insurers are fully transparent in that they all agree that you get the market value, capped by the declared sum insured. The difficulty in the event of a claim is establishing that figure. If you disagree with their assessment and can provide clear evidence to the contrary, they will negotiate

Whocare

All this show me if you was involved in crash were car is so badly damaged it written off and not your fault other insurance company are very awkward to deal with.

Might be best option to put in personally injuries claim too

UrbanFox

Getting back to the original issue.

The relevant principle is that the culpable party's insurers must indemnify the claimant. Indemnification means putting the claimant in the exact financial position they enjoyed just before the crash.

The problem is agreeing the measure of indemnity. In the case of a write-off that means the market value less any salvage value. Age and mileage are not always the sole determinants of the market value. Sometimes the parties just cannot agree the relevant figure and a judge has to do it. Insurance companies facing cases on quantum only [no contest on liability] can always be stretched a bit as they will not like to incur legal costs and will cough a little bit more to avoid litigation.

As far as car hire is concerned a claimant must remember that although the other party may be at fault they - the claimant - have an obligation to minimise their losses. A claimant cannot just hire a replacement vehicle on an open ended basis. I think that a period of around 3 weeks hire is probably reasonable for a write-off case.