Anybody have access to Glass's?

ttaskmaster said:
When I was arguing the undervaluing of my bike by my insurer, on the basis that the same bike, year, model, sub-sub-variant etc would cost at least double their valuation, I was required to provide examples as proof - Ebay (and many other official sales sites) was considered perfectly acceptable,
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Of course you were as it would typically undervalue your bike!
 
Well, at least now I can confirm that the valuation they're getting from their "partners" is actually what they say it is... Their original offer was £17,800.

This is my problem though. I'm sure there are lots of reasons and "algorithms" behind how the likes of Glass and CAP determine car value, but the actual market where these cars are being advertised doesn't match up to that value. There's currently a grey 2013 35iS up for sale with terrible alloys and 15,000 more miles than mine, and that's asking £19,750 - it's the closest I can get but still isn't comparable. Then the next jump is £22,500 for a 14 plate.

And the insurance company are fully aware of the optional extras the car has as they've asked me to confirm this every time I've rang them in the nearly two years I owned it.
 
Remind them they need to pay you a sum that will put you in an equivalent car and don't back down from there (so long as you are being reasonable and can evidence the value). Escalate if need be
 
ttaskmaster said:
Not sure what you mean...? It was already being undervalued. This was to argue the value up...
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My point is that the 'sold' values on Ebay are typically lower than the car would be worth purchased elsewhere. So you could have ended up with a better off by using other sources.
 
rodenal said:
Remind them they need to pay you a sum that will put you in an equivalent car and don't back down from there (so long as you are being reasonable and can evidence the value). Escalate if need be
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Absolutely This.

Deal only via email from now on:
Assuming you're in a courtesy car, the longer they take, the more it'll cost them. So agree a reasonable timescale to respond to your requested amount (if no 13 plates are available, then they're obliged to consider the value of a newer one) and hold firm.

If they don't play ball, refuse to accept their offer and request they escalate your complaint (every loss adjustor has to answer to someone higher) until you get a positive response.

If you don't have any luck, go to the Ombudsman. Provided you're not being unreasonable in your costing of an equivalent vehicle, they'll absolutely side with you.

(5 years as an Underwriter for Zurich)
 
[TW]Fox said:
My point is that the 'sold' values on Ebay are typically lower than the car would be worth purchased elsewhere. So you could have ended up with a better off by using other sources.
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Interesting. I found them slightly higher. Granted, the bike is not quite as common as muck, but you'll usually find a few for sale at any given time.
Either way, it helped and I got a jolly decent price for it in the end.
 
So just to update this now rather old thread...

Insurance company contacted me today with a new final value figure after I made a formal complaint. £21,000 + £250 to say sorry for stringing the process out longer than it needed to be.

To be honest, I was planning on selling the car this spring/summer anyway and I'd have taken £21k for it had that happened, so happy enough in the end. Just annoying this has taken three months and the insurance company needed a formal complaint before deciding to give me a decent offer.
 
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