Insurer's write off valuation seems fair - still haggle??

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Caporegime
Joined
13 May 2003
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Location
Warwickshire
Hi all

A vehicle of mine has been declared a total loss for insurance purposes, but I was pleasantly surprised when they came back with a first valuation that seems...pretty fair, bordering on generous.

Common wisdom is to always reject the first offer right? But what if the first offer is good?! I'm slightly fearful that they'll end up downwardly revising it if I start playing hardball.

Any thoughts gratefully received. I can't unfortunately go into details of the incident at this stage (not trying to be mysterious, just very cautious!).

Thank you.
 
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They could lower it so if it is indeed fair and a little generous and you'd struggle to find evidence that they should raise it then take it.
 
I have only ever made one insurance claim and that was for a total write off on a non fault claim. I was offered £250 more than I had paid for the car 8 months earlier (it was only a little 106 that cost me £2500), obviously I didn't quibble and accepted it :)
 
If you're sure it's a like for like valuation to a similar amount as you would pay to buy another example then tbh just take it

The only reason to reject the first offer is that they are normally fairly derogatory vs s private or retail purchase of equivalent vehicle
 
If it gets you into a replacement car of the same type with similar age, mileage, condition and spec, then I personally would be accepting it, rather than trying to get at best a couple of hundred more quid out of them.
 
- It's an SV650S motorbike in black with full fairing (I put it in the cars section for the footfall as the question was a general one)
- All I've really done is added an exhaust system, upgraded the headlights to bi-xenon with projectors, and added braided brake lines; the tyres are good, good service history and MOT passes etc.
- I bought it for £3.3k two years ago
- I've since put 11k miles on it
- I valued it around £2.7k, being hopeful (though there are very few similar examples to reference on Autotrader)
- Insurance have offered £3k
 
£3k for an SV650S, snap their flipping hand off. You can buy very tidy ones for under £2k.
Right now you could almost buy 2 in good condition with an aftermarket can and a few other "must have" mods for that.
 
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tom_e said:
£3k for an SV650S, snap their flipping hand off. You can buy very tidy ones for under £2k.
Right now you could almost buy 2 in good condition with an aftermarket can and a few other "must have" mods for that.
Click to expand...

Just called them back to accept it. Not sure how they arrived at the value, but I'm not complaining. Interesting.

Thanks all.
 
They could, but you can turn it down and they have to start re-negotiating all over again. So it's a waste of time/money on their part.
 
Jamesyboyjim said:
Its nice to hear people having good experiences like this, normally its a joke of an offer, even after you accept can they still revise what's been offered?
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That crossed my mind and I just hope they don't do that. The company actually said 'ok the money will be in your bank in 5-7 days'.

If it goes through it means I'll have had two years commuting for £300. Lol.
 
Yeah, I'd accept. Do insurers struggle to value motorbikes?

When I wrote my Aprilia off 8 years ago they paid me back double what I paid for it 6months later.
 
Had this last month with my motorbike write off - just accepted their offer...

Bought the bike at 6 months old with 3k miles for £1200 from a salvage dealer (Cat-D), was written off at 3 years old and 15k miles....they paid me out just under £2k as a first offer - a non-write off lower mileage bike was less!
 
On the spares - I was given my bike back, taking 25% off the valuation.

Currently working out how to get it to the garage to be fixed up for Voxination to commute on...
 
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