Insurance write-off offer......help!
03-26-2003, 02:11 PM
#1
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Insurance write-off offer......help!
Ok guys need anyones advice. Read abit a while a go on this , but maybe those how have been unfortunate to write off there S2's can help me.
Had a major smash on ice, as Mark did 2 months ago. Been waiting for ages to get "an offer" which has arrived and it is terrible.
Car, a 4 month old S2GT with 4800 miles has been valued by them as per "glasses guide" at
Had a major smash on ice, as Mark did 2 months ago. Been waiting for ages to get "an offer" which has arrived and it is terrible.
Car, a 4 month old S2GT with 4800 miles has been valued by them as per "glasses guide" at
03-26-2003, 02:21 PM
#2
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G,
IMHO that offer sucks for a 4 month old car. I personally would reject it.
Silly question but I thought that if the car was under a year old, you should simply get a new car.
This could clearly depend on individual insurance company.
See at what price you can find a similar model of a similar age.
If you can provide proof to your insurance company that you can't replace your car with a similar one for 22K, then I would have thought that you would have a reasonable chance to get a better price.
In my case, when my previous car was stolen, the insurance company offered only
IMHO that offer sucks for a 4 month old car. I personally would reject it.
Silly question but I thought that if the car was under a year old, you should simply get a new car.
This could clearly depend on individual insurance company.
See at what price you can find a similar model of a similar age.
If you can provide proof to your insurance company that you can't replace your car with a similar one for 22K, then I would have thought that you would have a reasonable chance to get a better price.
In my case, when my previous car was stolen, the insurance company offered only
03-26-2003, 11:54 PM
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They have to replace like for like - the money they give you, less your excess , should be sufficient to buy a car the same age and condition as the one that was insured by them.
What you need to do is to prove to them that it would be impossible to replace the car with the money they are offering - the Auto Trader ads are a good place to start, also phone round a few dealers and get some prices.
Insurance companies will alwyays try to pay out the minimum they can get away with, a friend in the industry told me to always reject their first offer, it will be lower than they are prepared to go as he says many people just accept that the value of their car was what the company is offering. Generally, presented with evidence, they will up their offer to a more acceptable figure.
If you still have problems the first stop is the insurance ombudsman - your insurance company have to give you the contact details by law and it's generally a situation they don't want to be in.
Hang in there, it's a big game really, just get yourself plenty of evidence and present it to them, these things usually come good in the end. Good luck.
What you need to do is to prove to them that it would be impossible to replace the car with the money they are offering - the Auto Trader ads are a good place to start, also phone round a few dealers and get some prices.
Insurance companies will alwyays try to pay out the minimum they can get away with, a friend in the industry told me to always reject their first offer, it will be lower than they are prepared to go as he says many people just accept that the value of their car was what the company is offering. Generally, presented with evidence, they will up their offer to a more acceptable figure.
If you still have problems the first stop is the insurance ombudsman - your insurance company have to give you the contact details by law and it's generally a situation they don't want to be in.
Hang in there, it's a big game really, just get yourself plenty of evidence and present it to them, these things usually come good in the end. Good luck.
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03-27-2003, 07:50 AM
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I'm not 100% on this but doesn't GAP insurance just clear the finance in the event of a low insurance offer ??
I should know this as I also purchased this from Honda but never really understood it. Having said that, it was only
I should know this as I also purchased this from Honda but never really understood it. Having said that, it was only
03-27-2003, 07:50 AM
#9
The principle of insurance is that you should be placed in no worse nor no better situation than you were when the claim ocurred.
The problem is that many insurance companies will always pay out less than they need if they can get away with it. Tell them to find you a car with that mileage and age and spec for
The problem is that many insurance companies will always pay out less than they need if they can get away with it. Tell them to find you a car with that mileage and age and spec for
