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Insurance claim


26 Aug 2003

Following writing my car off due to ice and a lamp post in February, the Insurance company have now made me an offer.

For a 1980 911 SC, brought for £9,500, with extensive service history, ~75k miles, receipts for all the parts i've brought over the past year i've owned it, including a £2,000 gearbox refurb, they have offered me £9,000.

Classic car magazines value SC's between 7500-16000, and their valuers have commented on the car's good condition.

I'm asking for more consideration over the offer price, but how much should i be able to get? considering the car was brought for £9,500, i presume they won't offer over that value (although it wasn't an agreed value policy).

Has anyone got any ideas? I need the extra cash to start saving for another - i've brought a beetle as a replacement but i'm bored with it already!


Migration info. Legacy thread was 15090
What you paid for it should only be one of many considerations when they decide what to give you. What was the insured value on the policy (they always ask you how much the car is worth when you get a quote)? For instance I paid £14,750 for mine but its 'value' on the policy is only £13,000. So I wouldn't expect to get more than £13,000 for a write off.

That said you have every right to question their valuation. When I wrote off my 205 a couple of years ago I was offered about £1000 after excess. I told them that I thought it was too low and they told me to bank the cheque then put together any information I could find to justify a higher value. I made up a bundle of ads from Autotrader, photocopies of all bills for work done, photos of the car, magazine valuations etc etc. eventually they gave me another £900 !!!

The moral of the story is that they can't give you any less than they have said they would so you have nothing to lose by contesting their valuation. Bombard them with any info you have to make it look like your car was a particularly good example and all the history can find. Put in copies of ads for any SC you can find in the country for sale for more than they're offering you. Worst case is they tell you to go away, but you never know you could end up with a fair bit more cash for your effort. These type of companies would rather pay you to go away for the sake of a few hundred quid to them than waste time fighting you.

Also worth thinking about buying the wreck back from them. It'll cost ***** all and may actually prove to be worth restoring or turning into a trackday project etc etc.


Migration info. Legacy thread was 15091
You probably don't wish to qualify as a member of the awkward squad at this early stage but my understanding is that an Insurance policy is one of indemnity and that, if you can't agree a value with your insurer, you are entitled to request that they deliver a car comparable to the one you just lost to your front door or reimburse you the cost of doing so yourself! If I am right (anyone any comments) and they are trying it on in your opinion, then you can always challenge them to deliver the goods!

BTW, About 3 years ago I totalled a Jag XJR when the gearbox seized at 60mph. Insured value was £12,500 (I had paid £14,500 3 months earlier) but they offered more than the insured value (£13,150). I think the insured value is part of the underwriting assessment to help them quantify the risk and not a cap on the payout. So for example, if you estimate market value at £10,000 and your car appreciates to £15,000 over the year, you are still entiled to collect its market value. This is consistent with asking them to deliver a car to your door because, presumably, they would have to pay £15,000 for that too!

Big caveat on my comments but I think that's the way it works!

Migration info. Legacy thread was 15092

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