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Car insurance help

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Hey, As i said a couple of weeks ago i crashed my car :( Talking to the insurance company today they said ont he cars value estimation i put £800.... Is this the max they have to pay out? … Read More
Titchimp Avatar
8y, 1m agoPosted 8 years, 1 month ago
Hey,

As i said a couple of weeks ago i crashed my car :(

Talking to the insurance company today they said ont he cars value estimation i put £800.... Is this the max they have to pay out?

That's how much i paid but it would seem to replace it with the same milage etc its going to cost me more.

Thanks
Titchimp Avatar
8y, 1m agoPosted 8 years, 1 month ago
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1 Like #1
This is a good guide to see how much your car's worth, might be worth checking to see if your insurance company is pulling a fast one.

http://www.parkers.co.uk/
#2
Trickyjabs;4807175
This is a good guide to see how much your car's worth, might be worth checking to see if your insurance company is pulling a fast one.

http://www.parkers.co.uk/


Thanks, they told me to send in valuations etc from autotrader which i have, but now they are saying i only put £800 on the "estimate" and if i had put more my premium woul dhave been more etc
#3
You're basically cream crackered mate.....you valued it at £800, they won't pay anymore. (if they even pay that)
#4
They are supposed to pay out the amount it would cost you to buy a car with the same or similar spec inc mileage etc. They should assess the general condition and take into account any service history, receipts etc. The amount you put as value should not be used a s the max amount, however more companies are trearing car insurance in the same way as home insurnace as saying that when you pick your cars value you are limiting the level of cover to that amount. YOu are going to have to ask them what their current practise is.

I usually err on the side of caution and put a high value on the car because it is not always apparent which companies are currently using this method.

YOu dont have to accept their offer you can try to negotiate higher, if it was not made clear when you took the policy that you were selecting level of cover then you could argue and win.
YOu should never accept first offer on car value anyway, they always offer low and its surprising how many people just accept it and take it. Good luck :)
1 Like #5
Pretty sure that means they won't pay out more than what you valued it at - It would make sense that valuing your car more would put your premium up. Have used Parkers (as above) to value my car for the past two years and gone for the highest figure. Still think my car value shows up on my premium between 0 and 50k though (could well be wrong). Good luck anyway, I doubt an old Saxo would be worth too much more than 1k? (Give or take depending on mileage, condition etc)
#6
I paid 1750 for my Fiesta a few years ago in the Feb and had MOT and had about £200 of work in June.July the 13th someone rear shunted me and I hit the person in front who hit the person in front etc.The insurance man would only give me £1300 and would not budge...I think I had estimated value as 2000 in my insurance.I doubt you will get any more.
#7
Interesting, thanks guys, I'll see what they come back with, the box just said estimate value, i assumed their database of cars etc would have all the values and the estimation thing helps highlight cars which are exceptions etc. Oh well we will see :)
#8
Tell your insurance that your £800 was only an " estimate ", and that you are not able to replace it on a like for like basis for that amount, therefore you will need more, send them adverts for similar cars from AutoTrader etc.

Good luck.
1 Like #9
Titchimp
Interesting, thanks guys, I'll see what they come back with, the box just said estimate value, i assumed their database of cars etc would have all the values and the estimation thing helps highlight cars which are exceptions etc. Oh well we will see :)


A fair assumption and would have been true until a couple of years ago, problem is insurers are not inclined to share the fact that they have changed their methods, if you can prove its was worth more I would argue, unless they can prove that they told you the importance of a correct valuation then I would think that persistance may pay off.
1 Like #10
If it was asked What is your cars estimated value? its not a rigid amount estimates are variable.

If the question was What is your cars value? then that is a fixed amount
1 Like #11
harlzter
If it was asked What is your cars estimated value? its not a rigid amount estimates are variable.

If the question was What is your cars value? then that is a fixed amount


Spot on correct.:thumbsup:
#12
Cheers people, Thats what i'll say if they use my low estimate as an excuse to give me a low offer.
#13
They ask for an estimate because you may have paid £ 700 to a mate for a car but it is worth £ 1,000 because of work done on it music equipment etc - therefore they will assume the value of the car is £ 1,000 but if you say the car is only worth £ 500 because of all the damage already on a £ 700 car then they will say its value is only £ 500 - I tend to put £ 200 on the price i pay to ensure that they give me a good price if an accident occurs even though it may cost a bit more to insure - after all its 'better safe than sorry'
#14
What did you put as your excess fee cause you will have to pay that
#15
andrpro;4809108
What did you put as your excess fee cause you will have to pay that

Oh yeah thats a whole other barrel of laughs. ive got £150 voluntry and £150 compulsory

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