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How easy is it to get the proper value of your car from insurers? watch

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    I'm sure most of you know my Starlet was written off a few weeks ago. Finally the insurers have had my car examined and they've come back with a valuation of £600. I've declined this because it's not the market value of the vehicle. I thought the job of insurers was to put you back in the position you were in before the accident. Looking on Autotrader, if I were to get another Starlet Sportif I'd have to spend £800-£1000. If the valuers are supposed to be giving a market valuation surely this is the amount they should be offering me? I'm going to speak to them later this afternoon, how likely is it that they will up the amount they offer me, and what leverage do I have to ensure I get a fair amount? Frankly £600 is insulting; when I pay a fortune for insurance and an accident is not my fault, why should I fork out £200 or more of my own money to put myself back in the position I was in before?
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    Yeh, insurers hate paying out, but you are right to negotiate. Demand £1000 and get them to explain why they are not going to give that to you. Then compromise somewhere in the middle. It is like doing a buying a car in reverse!

    This is why I never understand why people lie to their insurers, if they don't want to pay out on a legitimate claim, they are definitely not on a claim where the policy is void!
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    Subscribes - I don't know but I'm interested to find out, insurers are *****..
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    i suspect they give you the trade value of the vehicle, what a dealer would value it at.this is usualy a lot less than what your expectations are. Im afraid you are learning a lesson in life right now,painful but thats how we learn. Take the money and haggle hard on your next motor. Bon chance
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    (Original post by dodgy old geezer)
    i suspect they give you the trade value of the vehicle, what a dealer would value it at.this is usualy a lot less than what your expectations are. Im afraid you are learning a lesson in life right now,painful but thats how we learn. Take the money and haggle hard on your next motor. Bon chance
    What's the point of insuring my car (aside from all legal aspects) if I'm not going to get a fair repayment though? Why offer the trade value of the car when I'm not going to buy a new one at trade prices? I'm already intending to make my money work hard (looking to get a Ford Puma for less than a grand), why should I have to top up my insurance payout with my own money to get myself back on the road? Surely that is what the insurance is there for?
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    sorry mate,even at my age the *******s give you a kicking,they aint there to help you only to make money out of you. I expect nothing and am never dissapointed. I have max no claims and still they shaft me every year. Thats why over a million drivers have no insurance now, if i had a choice i would use public transport and forget the high cost of driving. All insurance is a pain,house, life etc.
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    Well I think if you let them walk all over you, then they will. I'm determined I'm not going to accept less than £800, and I will phone and push for £1000. When you get your renewal do you just say ok and accept? Or do you get on the phone and try and arrange a better deal, whether with the same insurer or a different one? I know insurers will take the piss if you let them; they have done ever since my claim was started. That doesn't mean I should sit back and take a shafting, especially when I'm paying £1200 a year for the privilege.
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    I always phone and negotiate for my renewal by using a comparison site, finding a cheaper price and getting the insurance company to either match it or I take my business elsewhere...

    I would never roll over and let a insurance company not pay out the full amount! £200 is a lot of beers/petrol!
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    (Original post by Carl)
    Well I think if you let them walk all over you, then they will. I'm determined I'm not going to accept less than £800, and I will phone and push for £1000. When you get your renewal do you just say ok and accept? Or do you get on the phone and try and arrange a better deal, whether with the same insurer or a different one? I know insurers will take the piss if you let them; they have done ever since my claim was started. That doesn't mean I should sit back and take a shafting, especially when I'm paying £1200 a year for the privilege.
    You can negotiate with them - when I wrote my car off I sent off a load of documentation showing I had had it regularly serviced, had recently had new tyres and some otherstuff. I got an extra £500 (from £3000 to £3500)
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    (Original post by *tink*)
    You can negotiate with them - when I wrote my car off I sent off a load of documentation showing I had had it regularly serviced, had recently had new tyres and some otherstuff. I got an extra £500 (from £3000 to £3500)
    I've maintained my car myself so no receipts. I was planning on running it into the ground so I wasn't worried about resale value, I was hoping to get it up to 200,000 miles.
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    When one of our cars was wrote off by a (minor) accident, we ended up with a fairly generous valuation. The guy at the centre said he'd looked on autotrader and there were only two cars of the same specification, he gave the value of the higher one (think it was about £1500, maybe slightly less)-since the car was going to be traded in a few months later this was a decent price.

    Just to add, I think he said if we weren't happy with the valuation, we could negotiate if we had evidence of similar cars selling at a higher price.
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    Try to negotiate. They will always give you a low offer to start with, but sometimes raise it if you are persistent. As other people have said, use evidence of similar cars at higher price/worse cars at similar price.
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    (Original post by Carl)
    I've maintained my car myself so no receipts. I was planning on running it into the ground so I wasn't worried about resale value, I was hoping to get it up to 200,000 miles.
    Oh blimey, that ain't gonna go in your favour! How many of these cars at 800 - 1000 quid have service history?!
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    ARRRGGHH I hate them! Just phoned them (after being promised again that someone would call me today) and now I've been told I'll probably get a callback on Monday. On Monday I'm going out to get a new car and need to know how much I'm going to get! They're ******* useless!
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    (Original post by gbduo)
    Oh blimey, that ain't gonna go in your favour! How many of these cars at 800 - 1000 quid have service history?!
    Most have some service history, mine was last properly serviced at 77,000 miles, that was 30,000 miles ago.
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    Oh right ok, do any have modern service history or do most people do it themselves by that point?
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    Insurance companies rarely pay out the true value of the vehicles.

    They will normally arrange for an engineer to come round and inspect the vehicle. That price is then the payout price. The engineer's are supposed to be impendent but doubt they are.

    Insurance companies won't budge from the value because they won't be able to claim back the cost of paying you from the third party's insurance company.

    And they also sell the vehicle on to make even more money.
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    1-Make an auction on ebay "selling" your car
    2-let the bids rack up
    3-Cancel it with one minute to go
    4-Show them what you were offered

    Also, one of my friends managed to get quinn direct from a £6300 offer to a £9000 offer with one phonecall, so it's at least worth a go.
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    (Original post by gbduo)
    Oh right ok, do any have modern service history or do most people do it themselves by that point?
    I don't really know. None on the trader up to £1000 state FSH, they are really easy cars to do your own work on, even I've been able to do stuff single handed.

    http://www.autotrader.co.uk/classifi...true&logcode=p

    This car is just like mine but different colour (mine was metallic blue) and mine was a bit higher mileage, and it's selling for £1000. This is why I think a valuation of £600 takes the piss a bit. EDIT: just noticed this one does have a FSH, it's the cheapest one that says it does though.
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    First offers are almost always too low, and the insurers know it. They just try it on as some people can't be bothered to question it and just take what they're offered. Get together adverts of cars for sale which are of a similar age and mileage to your car, and forward these to your insurer. Don't mention or bring service history into it - frankly on a car worth £1000 it's not going to drastically alter the value anyway, as people buy on condition not history.

    I would expect your insurer to cave quite quickly on this, so long as you provide the evidence that their offer is below par. It's not worth their time/effort arguing about it for the sake of a couple of hundred quid. Good luck!
 
 
 
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