09-16-2022, 08:17 AM | #23 | |
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09-16-2022, 08:18 AM | #24 |
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Thanks. I will look into this but with no steering wheel and all the hassle of having to recover the car and transport it. I may just take the payout and walk...really sad.
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09-16-2022, 08:22 AM | #25 | ||
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Last edited by AshisogiJizo; 09-16-2022 at 08:22 AM.. Reason: typo |
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09-16-2022, 08:53 AM | #26 | |
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09-16-2022, 09:03 AM | #27 | |
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Unlike assurance policies (which tend to have a fixed payout) insurance policies are meant to put you back into the position you were in before the incident which led to the claim. If examples of identical cars to yours (or as near as you can find) are currently available at, say, £23K then that's what you can argue that your insurer should pay out. Alternatively ask your insurer to find / purchase / supply 'your' replacement car with the same (or better) age / mileage / specifications / service history / etc.
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09-16-2022, 11:29 AM | #28 |
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Markos ZimZimma Watsey
Many thanks to both of you. I told insurer to call me back on Tuesday so hopefully they expect that I will be doing some research. It sounded like they were hoping (but not pushy) about me accepting their offer but good to know that they expect some haggling. |
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09-16-2022, 11:59 AM | #29 |
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Agree with all the above comments, my 5 series was written off recently and the insurance wanted to resolve it as quick as possible and sent me a £6k cheque for salvage when the car was easily worth £12k. They soon changed their tune when I went back with models on auto trader as evidence and said I don't accept the offer and you can find me a car with the same spec.
A week after I had one for £12k. That will easily be sold on to someone who's happy to do the repairs. |
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09-16-2022, 12:00 PM | #30 | |
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09-16-2022, 03:24 PM | #31 |
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Parkers and Autotrader I believe is what they say they compare it against, but not eBay.
I didn't want to chance it at all so found 4 examples from memory, at the time some slightly older models were worth more at the time so don't stick with just your car year either. Mine was a 2011 ms port and found 2, 2010 models with higher mileage. Hope that helps anyway. |
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09-17-2022, 03:51 AM | #32 |
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09-17-2022, 11:00 AM | #34 | |
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I gave mostly Autotrader links but also a couple on Ebay and Facebook marketplace. They caved in quite easily and gave me an offer about 20% higher without even questioning it. I could probably have pushed for more but it was a fair offer and I just needed to get a replacement car quickly. I am amazed that they're writing the car off for this though. I know that replacing it with legit BMW parts at a dealer would not be cheap, but surely even BMW wouldn't charge 10k for this? Everything there is repairable with new connectors spliced on and surely even BMW have repair kits here. The OABR cable just needs new terminals and a new connector on it and even if the HSD and fakra cables did need replacing, they wouldn't involve an insane amount of work. Crazy. I'm sure you could get that sorted out for under £2k. A new steering wheel and airbag for around £500 and a matched Evo/ATM unit for £1300 or so coded to your car. Then you'd just need to find someone to sort the fakra and OABR wires out for you. Worth seeing if they'll let you buy it back for a really cheap price if you're otherwise happy with the car. Last edited by Zheez; 09-17-2022 at 11:07 AM.. |
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09-18-2022, 01:41 PM | #35 |
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When our car was written off there was a £5k difference between the price they initially offered and what we settled at. Don't take their first offer.
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09-18-2022, 04:46 PM | #36 | |
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PS Don't buy parts from eBay, you could be buying your old shit back, which will exacerbate the problem. I have a stupid cousin who bought his own car stereo back 3 times! |
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09-19-2022, 08:29 AM | #37 | |
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Assurance policies almost always provide a fixed payout (a baseline defined at the commencement of the policy) which may also be index linked or have a fixed periodic incremental adjustment. Insurance policies may have an indicative level of cover but the reality is that the settlement may increase or decrease depending on multiple factors which affect the current value of the item insured. Insurance payouts can, therefore, often be negotiated. The person which started this thread did not seem to be aware of this. PS : Sorry to hear that you're related to a stupid person.
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09-19-2022, 06:12 PM | #38 |
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09-20-2022, 03:23 AM | #39 |
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Looks like my insurance experience has been different to people on here. When my Range Rover Sport was written off, they made me an offer which was too low and I rejected it. I found 4/5 similar cars on Autotrader for around 20% higher and sent them the results. They refused to even look at them and said we don't use anything other than Parkers and Glasses Guide for our valuations. We can increase our offer by £150 but that's the highest we will offer, and if you are not happy with it then you can go to the Ombudsman
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09-20-2022, 06:02 AM | #40 | |
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09-20-2022, 08:49 AM | #41 |
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No I didn't bother. It was during peak covid, and I was told it could take months for them to even get to case and I needed payout from the insurance company so I could purchase a replacement car. So I just accepted the insurance companies offer at the end.
I did however buy the car back from the insurance company for a lot less, repaired it myself and sold it on. and that made up for the 20% loss I made. |
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09-20-2022, 02:39 PM | #42 | |
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My pennies worth - they bluffed you. Armaan |
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09-20-2022, 04:05 PM | #43 | |
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09-21-2022, 04:17 AM | #44 | |
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