Cheers for all the responses guys.
My rear tyres are something like 'Avent' and they were brand new on the car when i got it. I checked the pressures the other day and was surprised at how hard they're supposed to be, the rear are something like 31psi according to the manual iirc? I will obviously have to wait til I see the car again so I can check the dampers.
I've never experienced oversteer in a RWD before, had it once in my ex's MX5 but that was easily corrected. Understeer is a lot more common for me, maybe i need some advanced drivinglessons.
I honestly can't remember how i reacted to the spin but i think i just did nothing, i didn't want to hit the brakes but now i'm quite sure i shud've tried to power out of it. I'm quite sure i was in the wrong gear though cus i've been on a mission recently to see how many MPG i can get the car to do, so i wud've been down at approx 2000rpm with no torque as you all know.
I refused to let my car go to where the insurance company wanted to take it and this morning I managed to arrange for it to be taken to my local and very well respected garage Cofton Motors. I don't know how soon it wil be taken there though.
I'm not blaming the car for what happended and i do understand the theory of driver error but i think this incident was a combination of vehicle character and my inexperience of oversteer.
Fingers crossed it will be back on the road asap and I can take this Chevrolet Matiz back!