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Old 15 June 2013, 13:12   #1
Razorbill RIBs's Avatar
Country: UK - Wales
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Insurance Total Loss Advice (car)

As per the title, does anyone have any specific (industry?) advice they could offer regarding the total loss of my wifes car please?

Basically, we have been offered considerably less than it will cost to replace the vehicle like for like. This is further hampered by the fact that there isn't anything out there 'like for like' as ours is a very low miles / ultra clean example, so very little else to compare it to.

Have found one with a Volvo dealer same spec /year, low miles (but still 13K more than ours), and it is £4K more than the settlement we are being offered!

Is there a mechanism whereby I can demonstrate (simple as trawling ads and demonstrating) that their valuation is significantly off?

Any advice appreciated...... Bit of a new one for me as when a previous vehicle was recorded as total loss, we were immediately offered the correct price /settlement such that we could go out and replace it. This is a different company and the settlement figure is drastically wrong!!

What makes this more infuriating is that the damage could be rectified for circa £1500 if I was able to use reclaimed parts (no structural damage etc /have had price from bodyshop)..... Because this is 'knock for knock' (despite very obvious evidence that other party was to blame, police weren't interested as on unclassified road /no witnesses ......but that's a different story) they won't entertain selling me back the vehicle....goes to a salvage co they have a deal with..... is this now the norm too ?

This all leaves an unpleasant taste in my mouth....the whole system is ridiculous.

Any advice appreciated

PS....Volvo v50 stationary, range rover sport at speed.... range rover was properly fooked....although just glad my wife, 2 and 4 year olds were okay tbh

Dan Worth

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Old 15 June 2013, 13:17   #2
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I don't have specific industry advise, but I had a van that was classed as a total loss after being knicked.

Again the insurance company under valued the vehicle, we argued by giving them numerous examples of similar vehicles available in the market.

In the end we reached an agreement that suited both parties.

But the insurance companies are buggers, they will low ball an offer on you in the hope you'll roll over and have your tummy tickled!


"By skill not force."
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Old 15 June 2013, 14:12   #3
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Once had similar with NFU many years ago! Eventually took payment in lieu of repairs (£9500) & £3000 salvage value on a 13month old Range Rover that decided to burst into flames !! The car 5 months old fully loaded with options cost me £13,250 so you can tell how long ago it was !!
I employed my own loss adjuster to strengthen my case & promised to involve the ombudsman if I wasn't sorted.
I'm sure there'll be somebody along who can help you.
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Old 15 June 2013, 14:21   #4
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I was told never to accept the first offer, if the accident wasn't your fault then I'm sure your insurance will provide legal cover to help you get a decent settlement.

The value you've been offered will be the lowest for that age vehicle in the glasses or parkers guide, get a copy and see what the top end is and go back to them - They will offer you as little as possible, that's their job, they need to pay out as little as they can get away with, you just need to tell them to offer you a serious amount, good luck, you'll have a good case.
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Old 15 June 2013, 14:51   #5
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Money well spent

Insco - The Insurance Claims Professionals

I used him when Norwich Union would pay out for my Scorp. he wiped the floor with them really knows his stuff.

why don't you call me about that Happymax your selling and I'll give you the benefit of my experience ............again...............
Here it comes again, I don't stand a chance
Soul possession, Got me in a trance
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Old 15 June 2013, 16:38   #6
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Good to hear all okay Dan,
Re insurance, I had the same trouble finding a similar example of my L200 with low milage last year, they first offered 60% of the final agreed sum, so stand your ground on the value and keep emphasising the low milage and condition, then its a waiting game, give them about 3 to 4 weeks to come to terms with the fact they have to pay out. and they should make a sensible offer.
Re the salvage, After agreeing with final offer, If you let them know your interested, they should, at least they did with me, phone back and offer a buy back option. I turned this offer down, plus cost of storage fees built over the weeks, still somtimes worth while I guess.
Best of luck with it all.
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Old 15 June 2013, 16:50   #7
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Just stick to your guns and argue your case might take time but you should get more brass
If you have service records etc all the better
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Old 15 June 2013, 17:54   #8
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Remind your insurer (assuming you are not dealing with a third party claims administrator, in which case you need to open a dialogue with the actual insurers) that the doctrine of insurance is to put you back in the position you were before the loss occurred. Check terms of your policy, if it is fixed value argue that, if market value demonstrate that as best you can.

If not happy your policy docs will explain how to escalate your complaint before approaching the insurance ombudsman

Avoid confrontation and litigation if you can

Good luck!

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