Bloody Insurance Company...

[Chili Red]

Oh don't get me wrong even I can see where they are coming from but the point is he could have bought it from a mate for 3800 that's not what it was worth.

What if your mum gave you it for free?

But they're looking at what he paid for it, not 'what if?'

I can see his point though!

 

[SteveS Cup]

My problem isn't that... it's the fact that they're using adverts of std 172's (not Cups) to justify there initial Settlement figure... If they sent me Cups with the same mileage as mine for £3000 - £3800 (which is what they've been saying) then I'd except it as I obviously didn't get as good a deal as I thought!!!!

 

[Revels]

Do some work yourself then mate.

Find the relevant adverts. Then call them again. Explain what you've found. Then either print them and fax it to them or stick it all in a PDF and send it that way.

 

[SteveS Cup]

I've emailed them 8 adverts mate... i'm working on it as hard as i can! I'm not sitting back just expecting them to maraculously raise their offer by £1k!!!

 

[Gally]

Hopefully it gets sorted mate.

 

[SteveS Cup]

Thanks mate... you've been a big help and it's much appreciated... not sure where you live but i owe you a few pints!

 

[Ads_172]

My thoughts, for what they are or are not worth...

I pay £x for a car. For whatever reason, I need to claim on the insurance for it. The insurance company offer to reimburse, in full, what I paid... I'm content.

I don't know the details, but £3,800 does seem to be alright market value for a decent condition Cup sold privately. Apologies if you've said, but what figure do you think you should be paid?

 

[Beef-Mc]

Ha must be something about women at the EUI group, rude snobby and putting words into my mouth, to make it worse my settlement has been absolutely pish.

 

[Gally]

Glass guide not help Beef?

 

[Ben.]

I can see why your arguing for more, and i would most likely do the same

As others have said though, you can see where there coming from, you pay £3.8k for the car, and then you are expecting more in return= making a profit (obviously i know you wouldn't be because of the xs etc)

But then as gally said i suppose if you were given it free then how would that work..mmm who knows, i hope you get what you want for it though

 

[SteveS Cup]

My thoughts, for what they are or are not worth...

I pay £x for a car. For whatever reason, I need to claim on the insurance for it. The insurance company offer to reimburse, in full, what I paid... I'm content.

I don't know the details, but £3,800 does seem to be alright market value for a decent condition Cup sold privately. Apologies if you've said, but what figure do you think you should be paid?

I want £4500 min. Look on autotrader at cups! As I say, they range from 4 to 5k for similar ones to mine.

 

[SteveS Cup]

I can see why your arguing for more, and i would most likely do the same

As others have said though, you can see where there coming from, you pay £3.8k for the car, and then you are expecting more in return= making a profit (obviously i know you wouldn't be because of the xs etc)

But then as gally said i suppose if you were given it free then how would that work..mmm who knows, i hope you get what you want for it though

Thanks mate.

What I paid for it means jack s**t.

I paid 12k for a tt just before the credit crunch. 6 months later I'd of been lucky to get 8k for it. Insurance company wouldn't give me 12k if I had of wrote it off though would they!?

 

[SteveS Cup]

Glass guide not help Beef?

Not really cos they keep on banging on about Market value not retail value. So now I've sent them 8 cups that are available to the Market I'm hoping that will sort them out!

 

[Gally]

They must realise that the finacial ombusman would throw their arguement out.

Glass' retail figure takes precident over anything else really.

The question was meant for beef btw Steve lols.

 

[SteveS Cup]

Lol sorry gally!

 

[Gally]

No probs fella, are you in need of the payout soon, I know people sometimes need to get another car so can't afford for it to be dragging out like this.

 

[jenic]

My thoughts, for what they are or are not worth...

I pay £x for a car. For whatever reason, I need to claim on the insurance for it. The insurance company offer to reimburse, in full, what I paid... I'm content.

I don't know the details, but £3,800 does seem to be alright market value for a decent condition Cup sold privately. Apologies if you've said, but what figure do you think you should be paid?

I thought this but decided to look at autotrader before commenting and i was surprised how expensive nice low mileage cups are up for, steve isn't making it up!

 

[Gally]

In reality and in finacial terms private sales cannot be used to value cars unless they are older and cannot be bought in a dealer/garage.

By rights you should be given money to replace your car from a garage, as per 'retail' figure.

 

[SteveS Cup]

Thanks jenic... I'm not just making it up! Cheaper cups have either got 70k miles +, 18" wheels or chicken wire for grills!!!!

Gally - I can wait mate... I want it sorted asap as I'm coming accross a couple of really nice icebergs at the moment and it really is a buyers Market. But I'm not going to just give in to s low offer just so I can get another car quicker.

 

[Ads_172]

Fair enough didn't realise the market had picked up that much!

 

[SteveS Cup]

Well it's not really picked up. Normal 172's with under 50k miles for £3500 is cheap! But decent cups are getting rare.

 

[Gally]

Lols it didn't go down in the first place, you can't buy a low miles cup in a garage for less than 4k.

 

[Slammed172]

It's actually ridiculas that they are offering you what a 172 is worth and not a cup. It's like paying out what a 1.2 Clio is worth, it's a different bloody car.

Well it's not really picked up. Normal 172's with under 50k miles for £3500 is cheap! But decent cups are getting rare.

Was hoping for 3.5k for mine with 81k on it lols.

Hope you get it sorted mate don't settle for any less than 4k.

 

[Poopensharten]

I got £3850 for my Phase 1 last August

 

[-Leigh-]

I always thought, that if you made a claim on your insurance, it was their job to put you back in the position you were in before the accident. Therefore, if you bought a car for £3800, and someone wrote it off, you should recieve £3800 back. Although, if it's not possible to buy an identical car for that they should give you more. If £3800 is enough to go and buy another Cup (as you did, so I presume it is) then take the £3800?

I don't think you should profit from the insurance, however nice it would be.

 

[Revels]

I always thought, that if you made a claim on your insurance, it was their job to put you back in the position you were in before the accident. Therefore, if you bought a car for £3800, and someone wrote it off, you should recieve £3800 back. Although, if it's not possible to buy an identical car for that they should give you more. If £3800 is enough to go and buy another Cup (as you did, so I presume it is) then take the £3800?

I don't think you should profit from the insurance, however nice it would be.

They have to set you right, like you say. So back in the position you were in before.

You're not allowed to profit from insurance. That's against the law..

 

[Gally]

The same thing keeps coming up what if his mate sold him it cheap?

It had no mot and no tax when he bought it and i'll put it in bold.

The insurance company must give you funds to buy a similar car on similar mileage from a dealer hence the 'retail' figure!

Another fact, you can't buy a car with similar mileage to Steve's for less than 4k from a garage.

 

[SteveS Cup]

Thanks gally. The adverts i've sent range from £5000 to £6000 for a nice low mileage Cup.

They've upped it to £4000 now which I've not accepted and I've told her I'm contacting the financial ombusman to seek their advice.

I don't know all the legalities... I've never been through this before. If anyone would accept the first offer from an insurance company then they're a mug. Simples.

 

[Gally]

I think this has proved that.

If they had stuck to their guns then fair enough but they are moving in your direction because as I said you're in the right.

 

[SteveS Cup]

Exactly. As I said I owe you a few beers mate!

 

[Gally]

Happy to help mate, that's what places like this is for.

Glad you're finally making a little headway.

Even without glass' guide you are showing them through adverts than you can't buy the same car for what they are offering.

 

[49neil]

Erm... If you wrote your car off and they offered you 25% less than what others are being sold for I think you'd be f**ked off!

that's about 11%, not 25......

what they shoud be looking at is replacement value... however, a car of that age may not be in a dealers.......

you're getting what you paid for it, all cars need mot's at some time, irrelevant if immediately after you bought it or 11 months down the line..

£4k tops i reckon!

 

[Gally]

There are cars in the dealers and on low miles, me and Steve have seen them. They are over 4k.

Most garage examples will have low miles tbf.

He could go buy a mint cup off joe bloggs tomorrow for 3800 but that's not what he's 'intitled' to.

 

[kenny172]

problem with these claims are that the insurance company will (on most cases) purely only settle on the glasses guide of the vehicle at the time of the incident.

Just because the retail of the car is more than what the actual pre accident value of the vehicle is doesnt mean the insurer should pick this up.

A car is worth as much as someone is willing to pay for it at the end of the day. For talking sake if you bought a car at 5500 and wrote it off. the insurance company pay you out £5500 becuase thats what you believe the retail value is but the actual market value is say £4000 they will look at it as if you are trying to make a profit out of the claim.

Dont deal with 1st party motor claims right enough.

 

[SteveS Cup]

that's about 11%, not 25......

what they shoud be looking at is replacement value... however, a car of that age may not be in a dealers.......

you're getting what you paid for it, all cars need mot's at some time, irrelevant if immediately after you bought it or 11 months down the line..

£4k tops i reckon!

The cars i've sent them range from £5000 - £6000.

I don't know who taught you mathmatics but i'll teach you a bit about percentages...

25% of £5000 if £1250. £5000 - £1250 is £3750 hence why I stated 25%.

Even on the book figure their initial figure was 20% less.

They've now offered me £4000 so I don't think you've looked too far into your mystic megs ball to pluck that figure out have you!?

As stated above (and this is kind of getting boring now) what if my mum sold it to me for a grand???? Does that mean all they have to give me is a grand??? No. So do one.

 

[SteveS Cup]

problem with these claims are that the insurance company will (on most cases) purely only settle on the glasses guide of the vehicle at the time of the incident.

Just because the retail of the car is more than what the actual pre accident value of the vehicle is doesnt mean the insurer should pick this up.

A car is worth as much as someone is willing to pay for it at the end of the day. For talking sake if you bought a car at 5500 and wrote it off. the insurance company pay you out £5500 becuase thats what you believe the retail value is but the actual market value is say £4000 they will look at it as if you are trying to make a profit out of the claim.

Dont deal with 1st party motor claims right enough.

If they offered me the glass's guide figure then i'd except it! As stated above, their initial offer was 20% down on the glass's guide price!!!!!!!

 

[Kneel]

What was glasses value, £4750? if market value was £6-7k then they would be stating glasses value as absolute indisputable gospel value of your car and thats what you would get. I dont see how they can try and offer that much less than glasses so I'd stick with that figure and fight until you get it.

 

[Gally]

Because they are a business Neil they are there to make profit and hope the insurer doesn't know any better.

For example my friend danny_172 wrote of his ph1 172, I got him 3750 I think it was.

No way would someone off the street expect to get that, they would have been happy with 2500 probably and the insurance company are trying to keep payouts as tight as possible for the obvious business side of things.

 

[SteveS Cup]

What was glasses value, £4750? if market value was £6-7k then they would be stating glasses value as absolute indisputable gospel value of your car and thats what you would get. I dont see how they can try and offer that much less than glasses so I'd stick with that figure and fight until you get it.

Exactly what i'm doing mate. At this moment in time i'm not willing to accept less than £4500.

Advertised cars are £5000 to £6000.

Glass's guide is £4715.

They offered me £3800.

 

[Kneel]

Because they are a business Neil they are there to make profit and hope the insurer doesn't know any better.

For example my friend danny_172 wrote of his ph1 172, I got him 3750 I think it was.

No way would someone off the street expect to get that, they would have been happy with 2500 probably and the insurance company are trying to keep payouts as tight as possible for the obvious business side of things.

Obviously the insurance company always try it on, 1st offer is always a piss take in the hope they have some-one less educated on the other end. Once you've refused that then they should offer you the true (glasses) value of the car as a 2nd offer as that is what the cars worth. Its only if you know and can prove that market value is higher than glasses that you should have to send in copies of adverts etc. I loath insurance companies they make a living from ripping people off in every aspect tbh.