Insurance Valuation
12-21-2010, 06:27 AM
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Insurance Valuation
Hi All,
Just wanted some quick advice. My S was declared a write off last week, and I am just in conversations with the insurance company. Obviously I would like it all sorted before xmas.
I am find it hard to decide what is the fair and true value of the car, as looking around similar cars seem to vary a lot in price, and I was just wondering what you all think is a fair valuation and what I should aim at.
The car was a MY2002 - Reg. Sept 02.
MCB
GT
53K
FHSH
The car was in imaculate condition, with only very minor damage to one alloy.
Thanks in adavance!
Just wanted some quick advice. My S was declared a write off last week, and I am just in conversations with the insurance company. Obviously I would like it all sorted before xmas.
I am find it hard to decide what is the fair and true value of the car, as looking around similar cars seem to vary a lot in price, and I was just wondering what you all think is a fair valuation and what I should aim at.
The car was a MY2002 - Reg. Sept 02.
MCB
GT
53K
FHSH
The car was in imaculate condition, with only very minor damage to one alloy.
Thanks in adavance!
12-21-2010, 07:05 AM
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Originally Posted by richmc,Dec 21 2010, 03:57 PM
That would be a fair and decent price, not what a theiving insurance company would offer!Maybe I'm missing something
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12-21-2010, 07:25 AM
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Originally Posted by richmc,Dec 21 2010, 04:21 PM
Have you ever suffered a write off, remember insurance companies will give you as little as possibly, thats why gap insurers exist.
we live in a world of theaving bar stewards, any car will loose a minimum of £200 per month.
And what you paid is not whats in Glass's guide.........ever!
we live in a world of theaving bar stewards, any car will loose a minimum of £200 per month.
And what you paid is not whats in Glass's guide.........ever!
What you get from the insurers will have no bearing mind, but I'd still start the bidding at X.
12-21-2010, 07:36 AM
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Ok, thanks. Yeah I would expect what I paid for, but looking around you don't seem to be able to get that kind of car for that money. Its as if everyone who wants to sell has decided to advertise at summer prices and are not too bothered if they don't sell till summer. E.g. 2002 NB, 48k FHSH, 2 Prev owners - Nice condition - advertised at 8775.
In a hyperthetical situation if said insurance compay was offering more than what I paid, would you A) take it and run or B) push for nearer to what it appears to be the cost to replace it. E.g 8-8.5k
How much do insurance companies allow negotiating and does it normally take a long time to process. I have not written off, nor claimed on the insurance for a car previously.
Thanks again.
In a hyperthetical situation if said insurance compay was offering more than what I paid, would you A) take it and run or B) push for nearer to what it appears to be the cost to replace it. E.g 8-8.5k
How much do insurance companies allow negotiating and does it normally take a long time to process. I have not written off, nor claimed on the insurance for a car previously.
Thanks again.