Write off/stolen nonrecovered settlement

[brisa4984]

Does anyone have some advice with challenging an offer.

The car in question is a 59 plate 123d m-sport coupe in back with parking assist, 2 previous owners and 52000 miles. It did have BMW stamped service history up until 48k when it was stamped by Car Giant. All service history was checked with BMW and they were happy that i didnt have to service the car for another 16k miles (oil) and 32k miles (inspection). It was bought from cargiant with 2 years AA warranty at a total cost of 16,500.


Autotrader search shows only 13 cars within a 200mile radius of my postcode. So with there being so few i decided to average the price of cars between 2008 and 2010 from all trade sales (sub 60k millage). 2 appeared w**k so were excluded. the average Price was an average of 16573.

Pistonheads search showed 12 trade cars within 200miles. 3 cars excluded because they appeared crap. Average price was 16121.

BMW used approved shows 3 2009 model cars at an average of 17398

Average between them is 16697, minus 500 for negotiation = 16197.

Glasses value 15520
Parkers value 15770
CAP value 15450

So I'm going to ask for an offer around 16197 and show how Ive come to that.

Anything else I can do to support my argument?

Cheers

 

[Adam.]

Where did you get the glasses value?

Ask them for proof of how they came to their value.

 

[brisa4984]

Where did you get the glasses value?

Ask them for proof of how they came to their value.

i paid for all valuations online adjusted for millage. But to be honest i found them sub par even when you take into account negotiations on price. All models are above these valuations.

ok . Think the best way would be to ask for their workings first?

 

[Poopensharten]

Who is the insurance with?

 

[Adam.]

Who is the insurance with?

I hope it's not who I think it is!

 

[glowworm105]

I was always under the impression that you should be put in the same financial situation as you were before so I would expect them to give you a figure that would enable you to buy a vehicle with similar mileage/spec as the one you had

 

[brisa4984]

greenlight broker. Markerstudy are my insurers

Another thing. On the financial ombudsman faq advice page. Statement 9 says "If the policyholder only recently bought his car second-hand, we are likely to assume that the price paid was the market value, unless the insurer can provide sufficient evidence to the contrary."

The car was purchased on the 28th october and stolen February 14th so 3months difference. I guess the market value would be the price I paid which is coincidentally around the price i calculated.

 

[brisa4984]

I hope it's not who I think it is!

no not admiral although not had issues with them previously.. im glad your case was sorted.

 

[Poopensharten]

I hope it's not who I think it is!

Exactly what i was thinking mate! Thank god it's not!

 

[Gorms]

Exactly what i was thinking mate! Thank god it's not!

Are admiral really that bad? The service I got from them was poor a couple of years ago. Will never go back to them.

 

[Poopensharten]

Yes mate, once the policies i have with them are up i'll never be back with Bell/Elephant/Admiral.

Their service is absolutley appauling, never experienced anything so poor!

 

[Ade T]

Oh god, search 'markerstudy' and 'claim' on google.

 

[brisa4984]

yeh i have.. thats why ive been on top of them.

Car stolen 14th feb. A week later G4S loss adjusters came to interview me and exclude fraud. 2 weeks later nothing. Phoned up and asked whats the deal? They said G4S were slacking and indeed i phoned G4s to find out that someone was on annual leave. A week later I was waiting for the police to forward their report. An now 6 weeks later I get the first offer.

To be honest markerstudy have been ok so far and the time lapse acceptable. I did however threaten them with solicitor action after 3 weeks of nothing.

Overall im pleased so far...

 

[Adam.]

OP do you have GAP?

Are admiral really that bad? The service I got from them was poor a couple of years ago. Will never go back to them.

Yes lol.

http://www.cliosport.net/forum/showthread.php?685889

 

[brisa4984]

Nope no gap mate. Cant believe i refused it.

Next car will have GAP, Tracker and Viper alarm system.

 

[Neil@greenlight]

Hi Brisa

The valuations are done by independent engineers not by us or the insurer so the insurer would of just offered what the engineer suggested. I can happily take a look tuesday for you and get it looked at.

If you wouldnt mind putting the above valuations you have got into an email to me at neil.fehily@greenlightinsurance.co.uk and i can then forward it onto the claims department and get it sorted for you.

If you look at Parkers online valuation for an A1 condition vehicle that is generally the vacinity in what you should expect.

Normally you would expect to receive a cheque within 21 days of the theft at the most, I thought you had already been paid mate you should of PM'd me mate id of got straight on the case.

Markerstudy are huge with companies like Zenith insurance under their umbrella. They turn over £400 million+ so wouldnt listen to a few online negative reviews....Even companies like direct line and LV insurance who get consistently voted number 1 in surveys get a negative review on sites....it seems people only go on to leave a review when things have gone wrong.

Either way please email me and i'll get involved. Its what we are here for mate.

Best Regards
Neil
Greenlight
01277 376000

 

[brisa4984]

Hi Neil

thanks for your involvement mate.

Ill email you asap.

Thanks.

Hi Brisa

The valuations are done by independent engineers not by us or the insurer so the insurer would of just offered what the engineer suggested. I can happily take a look tuesday for you and get it looked at.

If you wouldnt mind putting the above valuations you have got into an email to me at neil.fehily@greenlightinsurance.co.uk and i can then forward it onto the claims department and get it sorted for you.

If you look at Parkers online valuation for an A1 condition vehicle that is generally the vacinity in what you should expect.

Normally you would expect to receive a cheque within 21 days of the theft at the most, I thought you had already been paid mate you should of PM'd me mate id of got straight on the case.

Markerstudy are huge with companies like Zenith insurance under their umbrella. They turn over £400 million+ so wouldnt listen to a few online negative reviews....Even companies like direct line and LV insurance who get consistently voted number 1 in surveys get a negative review on sites....it seems people only go on to leave a review when things have gone wrong.

Either way please email me and i'll get involved. Its what we are here for mate.

Best Regards
Neil
Greenlight
01277 376000

 

[Jamie]

Hmm, I appreciate your comments Neil, but there are far too many examples of insurance companies paying out sub market values for it to be done independently. Every time I've been offered a car payout it was substantially less than open market value. Quite a sore point for me.

 

[Neil@greenlight]

Hmm, I appreciate your comments Neil, but there are far too many examples of insurance companies paying out sub market values for it to be done independently. Every time I've been offered a car payout it was substantially less than open market value. Quite a sore point for me.

Simple way around this is to request an agreed value policy, that way you insure the car for the value you want and you know at the start of the policy exactly what you recieve in the event of a total loss.

yours is a trophy so I'd definitely recommend getting agreed value cover, they carry a fair bit more value than a standard 182.

Most insurers use independent engineers so not to be biased....you can always challenge the engineers valuation with examples.

we can offer agreed value with some of the underwriters we deal with and there is no charge for the service.....it just gives you peace of mind. I'd be happy to run a quote through for you, we are very competitive on cliosport models. I have organised agreed value cover for a number of other forum users with trophy models.

I know insurance companies/brokers aren't anyone's favourite thing in the world but at greenlight we genuinely care. I'm personally a car enthusiast and want to Make sure that everything goes smoothly should the worst occur. (Hence why I'm on here on a bank holiday when the office is closed)

best regards
neil
greenlight
01277 376000

 

[Neil@greenlight]

Hi Neil

thanks for your involvement mate.

Ill email you asap.

Thanks.

no problem at all, don't worry at all ill make the calls on your behalf next week.

i put in my original post I'd be back in Tuesday....thinking it was a bank holiday Monday so in fact ill be back in Monday and can get on the case for you then.

neil

 

[skyinsurance]

Hmm, I appreciate your comments Neil, but there are far too many examples of insurance companies paying out sub market values for it to be done independently. Every time I've been offered a car payout it was substantially less than open market value. Quite a sore point for me.

I'd say about 95% go through with out issue of query.

I've said it before and I'll say it again, it is very rare that we have an issue with a Markerstudy claim and we place several £million of business with them.

The review sites mentioned are a farce. Where are the good reviews from that 95%? People only 'review' when something (in their opinion) goes wrong.

 

[skyinsurance]

Oh god, search 'markerstudy' and 'claim' on google.

Search any insurer and claim on google and try and find a good review.

 

[Neil@greenlight]

Hi Neil

thanks for your involvement mate.

Ill email you asap.

Thanks.

Got your email mate and replied. Just reaslised in my post i said id sort it monday for you not realising its still bank holiday so will get on the case tuesday.

Hope you enjoy the rest of your bank holiday weekend.

Best Regards
Neil
Greenlight
01277 376000

 

[brisa4984]

Got your email mate and replied. Just reaslised in my post i said id sort it monday for you not realising its still bank holiday so will get on the case tuesday.

Hope you enjoy the rest of your bank holiday weekend.

Best Regards
Neil
Greenlight
01277 376000

Dont worry thats fine.

Thanks again

Mark.