Hi,

My 53 plate VRS only had 49,000 miles when it was stolen. I had it insured for £5000.

Just had a call offering me £3750 for a payout but I have to then take off £300 excess. I can only find similar mileage and ages for around £5000 which is why I had it insured for that. Has anyone ever gone through this who can help? I am extremely unhappy that I am the good guy, the one who had the car stolen and I am the one being punished with excesses, increased premiums (around £180 per year on car) and thats with my NCB protected still and now this offer!

Thanks

Hi,

My 53 plate VRS only had 49,000 miles when it was stolen. I had it insured for £5000.

Just had a call offering me £3750 for a payout but I have to then take off £300 excess. I can only find similar mileage and ages for around £5000 which is why I had it insured for that. Has anyone ever gone through this who can help? I am extremely unhappy that I am the good guy, the one who had the car stolen and I am the one being punished with excesses, increased premiums (around £180 per year on car) and thats with my NCB protected still and now this offer!

Thanks

Whats that valuation based on? I would question the valuation and ask them to show you an equivelant car for that price as they ones u find are around 5K?

The insurance is with Highway but I go through Adrian Flux. I have passed on examples of three cars same or sililar age with same or similar mileage. For example a 53 plate with 66K is on Autotrader for £4990. Mine only had 49K on the clock!

My email to them says what I think of the offer and I have said they will not find a similar car for the offer they have made. Adrian Flux had printed it all off and faxed it to Highway.

What more can I do? Can I threaten then with the Financial Ombudsman?

This is completely unacceptable, I can see why people don't even bother with insurance!

shocking mate, anything to punish the good guys, while the thieving barstards get a slap on the wrist if they even get caught!!

turn the offer down mate. They normally offer something low in the hope you will except. You've done the right thing in sending them examples of like for like cars.

You have done everything right so far, keep googling for as many examples of replacement cars you can & send in the details.

Refuse the offer in writing, stating you cant find an equivalent car for the money & challenge them to try.

Worked for my Mrs, offer went from £8300 to £9100 (eventually)

I have had a similar experience. I have a 79 450SLC that someone crashed into.

The "quote me happy" people "kindly" offered me £1500 pounds at the beginning, noting that the car is a classic and they found some that is similar to mine for sale at around £1500.

Then I proceded to ask where that is advertised as I couldn't find it anywhere and at that point I was tempted to buy that £1500 if I could find it. At the end all I could find is a MOT failure project at £1200.

Obviously I phoned them back and they said they can't disclose where they found the price on the internet. I rejected their offer and actually was thinking to ask them to repair it! (will cost in excess of £5k) But at the end they budged and offered me £2500, which is near to what I pay for and what its worth.

Moral of the story....insurance companies underestimate the value of your car and you need to actually research to find the right value for your car.

The insurance is with Highway but I go through Adrian Flux. I have passed on examples of three cars same or sililar age with same or similar mileage. For example a 53 plate with 66K is on Autotrader for £4990. Mine only had 49K on the clock!

My email to them says what I think of the offer and I have said they will not find a similar car for the offer they have made. Adrian Flux had printed it all off and faxed it to Highway.

What more can I do? Can I threaten then with the Financial Ombudsman?

This is completely unacceptable, I can see why people don't even bother with insurance!

Wait for a response first, if that doesnt work, send them a firmer response, if you still havent got an acceptable figure, PM me, my dad used a company, sort of like an obudsman once who tell you how to go about it and where you stand legally etc.

As said they may just be trying it on, ride it out for a little longer,

They've certainly lost any possible business on this forum now I imagine.

just keep turning them down untill they offer better. thats a rediculous amount for it. for as low milage, tell them you want more.

Seems quite low.

For something to compare it against.

When my 53 Plate Fabia vRS was written off in July '09, with 132k on the clock, i got £3950

I told Adrian Flux that I am not happy but they said the process is that the cheque for £3450 is already in the post now. What I have to do is appeal this and if it goes in my favor Highway will then send me another cheque for the difference.

Does this sound right? Its a pain talking to Adrian Flux about Highway issues but I am getting further than when I ring Highway direct.

@VRSDanny, thanks I maybe taking you up on those details.

You don't have to accept the offer. Send the cheque back to Adrian Flux and ask them what they are doing to earn their brokerage fee?

http://www.adviceguide.org.uk/index/your_world/consumer_affairs/insurance.htm#Howtoresolveaninsuranceproblem

Complain. It's sounds like Adrian Flux are rail-roading you. YOU paid them a brokerage fee to place your insurance.They are supposed to support YOU against the insurance company, not help the insuramnce company settle for peanuts in a hurry.

And post a link to this in the Adrian Flux forum. Send an e-mail to the man who makes money out of running this forum and let him know his sponsors aren't being very nice to you.

Basically, the people in this world who make a pain of themselves tend to get more than the sheep who roll over.

And tell everyone you know how poor Adrian Flux are. I will too. Company's that act like this tend to go out of business, some slower than others, but they do tend to go bust thankfully.

Go for it!

It's be standard for years that the first offer is **** and normally refused. Just wait and see.

Matt

Firstly, sorry to hear of your woes.

As some have said above, stick with it and they'll up your offer. It seems similar to getting insurance quotes, this payout malarky. They'll try and do you over until you tell them they should do better; eventually they come round. Totally wrong, but thats the way it seems to go down.

The mrs had an accident a couple of years back, bloke admitted it was his fault there and then but changed his mind later. To cut a long story short, they originally offered her 50/50 liability with no payout but she dug in and got paid for the motor and over £2k for injuries.

Stick to your guns, persevere and you'll get there.

All the best.

Well I'm just about to reinsure the VRS and another new car - Flux were one of the companies I have been talking to and this thread doesn't make me want to use them!

Stand your ground - they cannot just send a cheque out without having agreed the settlement figure. Do NOT cash it but send it back to them - have you got a hire car off them while you're waiting?

Good luck

Put it this way, skoda offered me 3250 as a px value for my 05 vrs with 50k miles and its mint with the cambelt and waterpump already done!!!

Hello

As a lot of others have said, you need to provide some evidence such as adverts showing a car of your age and mileage is worth what you think. It is likely they are going from a trade guide and you should check which one and how calculated.

If not happy, advise them you want their final decision as you want to take it to the Financial Ombudsman Service. This won't cost you anything. I would be wary of using a company to try to up your settlement as they will want paying for their help.

Proof of value is key, not just what you think you should get.

HTH

Simon

My car is insured via Adrian Flux for £7,500 - I would be well annoyed if I didn't get my agreed value should I write my car off!!!! The car in reality is only worth £1k maybe £1.5k.....

Have a read of this article on vehicle valuation from the Financial Ombudsman

My car is insured via Adrian Flux for £7,500 - I would be well annoyed if I didn't get my agreed value should I write my car off!!!! The car in reality is only worth £1k maybe £1.5k.....

You can insure it for 23k if you like they will take the premiums, but when the end comes, you will ONLY get glasses bottom book price

Thats is how insurers work

Same with declared points on licence DVLA and the POLICE they are off and gone after three years, not the insurers it is FIVE, Just to keep the premiums up you understand

When they do pay out it is not really a settlement just and expensive loan, that they will rocoup several times over in increased premiums

National

...you will ONLY get glasses bottom book price

Thats is how insurers work

Not according to the Finacial Ombudsman;

2. our general approach

In most cases, we assess the market value as the retail price which the policyholder would have had to pay for a comparable vehicle at a reputable dealer, immediately before the date of the damage/theft.

This may be lower than the price at which the vehicle is advertised, as the dealer may have built in a margin for negotiation.

It is likely to be higher than the price payable in a private sale or at an auction, and higher than the trade value (which is the price a dealer would pay before adding its mark-up).

My car is insured via Adrian Flux for £7,500 - I would be well annoyed if I didn't get my agreed value should I write my car off!!!! The car in reality is only worth £1k maybe £1.5k.....

as said this doesnt work. think about it, how many fraudsters are out there that could go but a cheap car for pennys and insure it for thousands and make a bomb, as said, its down to book price, im sure they may go a little above or below book price depending how much you huff and puff.

I told Adrian Flux that I am not happy but they said the process is that the cheque for £3450 is already in the post now. What I have to do is appeal this and if it goes in my favor Highway will then send me another cheque for the difference.

Does this sound right? Its a pain talking to Adrian Flux about Highway issues but I am getting further than when I ring Highway direct.

@VRSDanny, thanks I maybe taking you up on those details.

I seriously wouldnt cash that cheque until you get another one to make the offer up or a replacement one as once its cashed it could probably be seen that you've accepted the offer and the case will then be closed.

I seriously wouldnt cash that cheque until you get another one to make the offer up or a replacement one as once its cashed it could probably be seen that you've accepted the offer and the case will then be closed.

I am pretty sure that this is the case. If you cash cheque then you will have accepted offer. Either leave cheque sitting or return recorded delivery with an explanation of why you are not accepting. However, you should check the value of your car against parkers and glass's guide. If you cant get a glass's guide wander into a couple of second hand car dealers tell them why you want to see and ask if you can look at their guides. This will give you an idea as to whether the offer is close or a p1ss take. How much you insured the car for means nothing unless the additional value had been agreed for the value of declared mods.

Well I'm just about to reinsure the VRS and another new car - Flux were one of the companies I have been talking to and this thread doesn't make me want to use them!

Stand your ground - they cannot just send a cheque out without having agreed the settlement figure. Do NOT cash it but send it back to them - have you got a hire car off them while you're waiting?

Good luck

Hire car, thats a joke! I will only get one if the car has been found and needs repairing. So I have nothing at the moment, everything being taken from me nothing being given!

They say if more is agreed they will send another cheque, I'm not sure whether to send it back or just keep it on the side. I have it insured for £5000 because I checked before I renewed my policy (Nov 1) what it would cost to replace. Otherwise what is the point in them asking?!

Edited 25 November, 201015 yr by rik_t