Advice on rights to claim settlement

[James Mk1]

Hi all, I used to own an immaculate Clio Williams 3. Unfortunately I wrote it off last week. At the moment I'm going through the claim procedure with Admiral and they phoned up today offering me a settlement no where near what I was expecting. I paid £5000 for the car last January, and it really was an immaculate car. They are getting back to me tomorrow after I spoke to them on the phone today, they asked me to email links of other cars on the market to prove what it is worth.

I'm just wondering, what are my legal rights if they just won't budge on the price?

Any advice/comments would be appreciated

Thanks

James

 

[Laura]

i dont think you have any, you can pay extra for agreed valuations for older cars.

Insuarnce always have and will pay out "market value" in the event of a accident as far as i am aware

 

[James Mk1]

Yeah I see what you're saying - but market value of my Williams 3 really was £5000.00. So if they don't move enough on price what can I do? Can I take them to court?

 

[r&skxa]

Market value isn't the value you paid for it dude. A car is worth what someone will pay for it, it doesn't mean that's what it's insured for. Some people would look at your car and to them it's just a Clio and would never pay £5000 for any car that's 20 years old.

Insurance companies would go out of business if they paid out what the owner thinks its worth. I paid £5k for an RS Turbo that got stolen, I had an agreed value on it and it still took hundreds of pictures and certificates to prove it was worth it.

I wouldn't take an insurance company to court, they can afford bigger and better solicitors than you can and to be honest, if you went into court and said "they won't pay me out for a car that "I think" is with 5k" they'd prob tell you to jog on

 

[bradsmith88]

Have a look at this:

http://www.financial-ombudsman.org....an-news/66/66-vehicle_valuation_disputes.html

You can complain, and if still not satisfied you can take your complaint to the Ombudsman.

They say that a recent purchase receipt is good indication of market value - but would usually use trade guides i.e. Glasses, CAP and Parkers.

 

[James Mk1]

Appreciate the comments, thanks. r&skxa I see what your saying, but i still think market value is £5000.00, I bought it last Jan and as you know these cars don't go down in value.. So basically the best thing I can do is just keep asking for more and prove its worth more with pictures etc?