Help, my car was burnt out and I think my Insurance are trying to fob me off.?

Question

The car was a R reg Peugeot 306td, and they have offered me £530. They say this is because the mileage was very high at 130,000. I thought that this was about average. Also, the car had been in a previous accident, but was repaired by a garage. I paid a lot more for this car, and am not happy with this offer as it will not get me another decent car. I am currently borrowing a car until my money comes. Also, my excess is £100 so I will end up with just over £400 to get myself a reliable runaround to get to work and back. Do I have to accept this, and what should I do to fight it?

Answer 1

Sorry, but checking with Autotrader, it looks like £450 - £700 is about the mark price wise.

When you say the car was damaged, do you mean it has been an insurance loss (Cat C or D?) If so, then just take the money - your insurer doesn't have to pay you at all, as the car's already been subject to a claim.

Answer 2

Check the value at whatcar

http://www.autotrader.co.uk/CARS/buying/...

Yours should be around £1200-£1500 (I'm sure you already know that).

Ask them why there is so much difference between their proposed settlement and the market value. Do it all in writing, not on the phone. If you're not happy with their response make a formal complaint again, in writing. If it can not be resolved you must write to the financial services ombudsman. It may take a couple of months.

Answer 3

You only get the trade-in value not the replacement cost

Answer 4

that's all your car is worth  

Answer 5

i work for an insurance broker dealing with the claims. what you need to do is find some adverts for similar cars make model year mileage etc as yours but going for a higher value than they have offered you. try to get half a dozen or so. my tip would be to look at garages for the comparisons though as they charge more than private sales. if you do it on line you can print off the vehicle details to send them.  

Answer 6

Most companies are willing to negotiate, but you need to ensure you have your facts correct.

Find a dealer who is experienced at selling Peugeots of similar age to yours and ask them to view and value your wreck - you will probably have to pay them a small fee. But the insurance co would have to take their valuation seriously, and at the least, offer the average of the two valuations.

Also, ensure they are valuing it as a turbo diesel not just a 306.

BTW, high mileage is 200,000 miles or more, very high another 100 on that for a well maintained peugeot.

Remember, that if you buy another similarly aged car, it will have some repairs required, so if you had yours all fixed up, you should let them be aware that replacement cost to get you back to where you were is the cost of the new vehicle plus another few hundred for fixing the little gremlins.

You could also try to find another one similar somewhere, and just ask them to buy it for you.... (don't know if this would work but seems worth a try)

Answer 7

Your best chance is to find adverts for a similar vehicle that are of a higher price, cut them from paper and send them to your insurers claiming that amount.

In fairnes, their offer is not a bad one if you consult glasses guide you will find it is average for your vehicle