Insurance Valuation Nightmare

[Le S2 Audi]

Somewhere about £5500, here it is on the for sale thread from when i bought it two years ago

http://www.s2forum.com/forum/showthread.php?t=41071

Since I bought it i've put 10k on it and its now at 112k, I've put it off the road each winter and its had oil changed twice in that time plus the timing belt, water pump and various other parts as and when they were required. Mechanically and cosmetically its in very good condition, before I put it away last winter I put it into a body shop to respray some minor scratches and to colour code the rear bumper (the front had already been done) I also went wax oiled any parts off the chassis that were getting tatty and there's no sign of rust anywhere on the body. I just find the offer of £3400 is just a bit insulting maybe I'm being a bit precious about it but I took a long time finding a car with this spec and condition and I'm a pretty sure I wouldn't get another one for that money

If you don't mind me saying so... I think you have to look at this from another perspective... As in don't take it so personally... It's a business transaction and you have to realistic as to what you think your car is worth - from the other side...

If I may point you in the direction of my recent car sale - 1993 ABY - Fully loaded -996 - S8 Avus etc etc etc and it sold for £5K with ONLY 82K and 3 Owners.... http://www.s2forum.com/forum/showthread.php?t=54715

So from my sale, they are offering you nearly 50% of the cars worth (also my car had no previous crash damage) - I would go back and see if they will up the offer by a few hundred and snap their hand off... Get the car fixed at a much better price and use the rest to have a beer or three....

Looking for them to cover all the "possible" unknown/unseen damage just won't happen and you are dreaming if you expect them too....

Fully Comp dose't cover "a new for old" cover it just means they will pay out & recover losses from the 3rd party with no come back to you "as such"....

HTH

[Raasay284]

If you don't mind me saying so... I think you have to look at this from another perspective... As in don't take it so personally... It's a business transaction and you have to realistic as to what you think your car is worth - from the other side...

If I may point you in the direction of my recent car sale - 1993 ABY - Fully loaded -996 - S8 Avus etc etc etc and it sold for £5K with ONLY 82K and 3 Owners.... http://www.s2forum.com/forum/showthread.php?t=54715

So from my sale, they are offering you nearly 50% of the cars worth (also my car had no previous crash damage) - I would go back and see if they will up the offer by a few hundred and snap their hand off... Get the car fixed at a much better price and use the rest to have a beer or three....

Looking for them to cover all the "possible" unknown/unseen damage just won't happen and you are dreaming if you expect them too....

Fully Comp dose't cover "a new for old" cover it just means they will pay out & recover losses from the 3rd party with no come back to you "as such"....

HTH

My view on it is the car should be valued by its pre-accident condition which means that the previous repair which cracked was not evident would not have devalued the car. I also had an RAC report carried out on the car before I bought it which checked paint depths etc and noted a repair had been carried out but it was satisfactory and not visible to the naked eye.

As far as I understand it for the car to be economically repairable the value must be higher than the repair cost plus the salvage value of the vehicle if they were to write it off. I was previously told that the salvage value of the car is around £900 so for it to be repairable the car would have to be valued at £3500.

So supposing the valuation was raised to £4000 which is still low the car should be well worth repairing.

However like you say the best option may be to try and push them for a bigger payout that takes into account the risk of me having to spend more on unseen damage but doesn't commit them to an infinitely large repair cost. Maybe that's fanciful but no one got a good deal by taking the first offer.

[Error404]

Ok, lets play them at their own game. All you need is for 2-3 forum members to advertise their cars at £7k.
If they use unrepresentative information then lets give them some more :corey:

[Rikki Kitto]

I'm still waiting for final payment 18months down the line take what you can and run

[Raasay284]

Ok, lets play them at their own game. All you need is for 2-3 forum members to advertise their cars at £7k.
If they use unrepresentative information then lets give them some more :corey:

Good thinking just need the volunteers now.....

[sidrick]

My view on it is the car should be valued by its pre-accident condition which means that the previous repair which cracked was not evident would not have devalued the car. I also had an RAC report carried out on the car before I bought it which checked paint depths etc and noted a repair had been carried out but it was satisfactory and not visible to the naked eye.

As far as I understand it for the car to be economically repairable the value must be higher than the repair cost plus the salvage value of the vehicle if they were to write it off. I was previously told that the salvage value of the car is around £900 so for it to be repairable the car would have to be valued at £3500.

So supposing the valuation was raised to £4000 which is still low the car should be well worth repairing.

However like you say the best option may be to try and push them for a bigger payout that takes into account the risk of me having to spend more on unseen damage but doesn't commit them to an infinitely large repair cost. Maybe that's fanciful but no one got a good deal by taking the first offer.

Though I sympathise with your situation, you're saying they shouldn't take into account previous accident damage when giving their valuation, but you're demanding that they pay to rectify the previous damage which was caused by this crash

[Raasay284]

Though I sympathise with your situation, you're saying they shouldn't take into account previous accident damage when giving their valuation, but you're demanding that they pay to rectify the previous damage which was caused by this crash

Its the fact that all damage to the car was caused by this crash, prior to that there was no problem. If I was to sell the car before the crash the previous repair was not evident and would not have lowered the price in any way therefore why should that lower the valuation?

Surely its the function of insurance to rectify the damage caused by the crash?

[Rikki Kitto]

As far as I can make out it's the function of the insurance company to take as much money as they can off us and pay out as little as possible

[Error404]

This is one good reason to insure with a forum sponsor because at least when this kind of thing happens they are accountable and it is in the interests of their business to do the best by you.

[Rikki Kitto]

Sadly I have very rarely found insurers to give a flying f*** when it comes to keeping customers happy, scum the lot of em. About time we had a revolution

[rj scotty]

The uk car insurance buisness works about as well as the uk benefit system.

[Greg_S]

It would be worthwhile looking at if your insurance is valuing cars on a like for like basis. As there are less S2's for sale than run of the mill cars this may be more difficult. But given the spec, mileage and condition of yours search around and get the prices of those that are similar spec, condition and mileage to yours and they will likely just take the average of any that are for sale and not take into account condition

[Raasay284]

Managed to get them up to a cash in lieu settlement of £3000 so we're finally moving forward with the repair

[Le S2 Audi]

Managed to get them up to a cash in lieu settlement of £3000 so we're finally moving forward with the repair