Accident Advice

st@nners

st@nners

st@nners

Associate
Joined
28 Dec 2002
Posts
459
Location
UK
Morning,

Wonder if anyone could shed any light on the following situation.

My brother had someone run into the back of his Supercharged EP3 Civic Type-R at the weekend.

The other party has admitted liability and its going through their insurance.

It's had a considerable amount of cash spent on it by the previous owner. In excess of 10k

My brother paid 6k for it but looking at ones for sale recently they are around the 8k mark.

All modifications are declared. The insurers are wanting to write it off as Cat C and are offering my brother 2k plus the car back.

What would you do in this situation?

Cheers,

Chris
 
unfortunataly spending 10k on a car does not mean its worth that.
i would be looking at 4k mark + car back then break it / salvage the parts on put on another.
 
I guess that would depend on the damage and how much it would cost me to get sorted.

If it's going to cost £2k or less to put the car back in the state it was before, then that's a fair offer, if it's going to cost £4k to repair the car then it's not.
 
Haggisman said:
I guess that would depend on the damage and how much it would cost me to get sorted.

If it's going to cost £2k or less to put the car back in the state it was before, then that's a fair offer, if it's going to cost £4k to repair the car then it's not.
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You have to factor in the corresponding drop in value of the car

lets say it's worth £6k. Write it off @ cat C you can probably drop £6k to £4-4.5k.

The op has to be put back in a position where they have effectively got £6k (+ if possible) in their pocket. Cost to repair the car is fairly irrelevant to the payout. In isolation that is

£2k + the car. Car costs £2k to fix and is then worth £4k. OP has lost £2k.

£2k + the car. Car costs £1k to fix and is then worth £4k, OP has lost £1k

etc etc
 
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Having the mods declared on the insurance is not the same as having them covered for the value of them. That's when an agreed valuation policy comes in useful.

So he would be insured for the cost of replacing the car with something similar (minus the mods unless on an agreed valuation). If a similar car can't be bought with the offer value then gather evidence and forward to the insurance company and firmly fight it.
 
Hades said:
Having the mods declared on the insurance is not the same as having them covered for the value of them. That's when an agreed valuation policy comes in useful.

So he would be insured for the cost of replacing the car with something similar (minus the mods unless on an agreed valuation). If a similar car can't be bought with the offer value then gather evidence and forward to the insurance company and firmly fight it.
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If he is dealing with the 3rd parties insurance directly isn't that irrelevant?
 
Not really - he will still need to put forward evidence to say "to get a car of equivalent standard to mine it will cost £x". Otherwise they'll just use bottom book trade price for an offer
 
Amos91 said:
If he is dealing with the 3rd parties insurance directly isn't that irrelevant?
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Actually it is relevant to some degree so he should be able to get a higher offer. But he still needs to offer evidence that a similar car with those mods is work £x. He's not entitled to buy a similar without the mods and expect the third party insurance to buy new mods.
 
Argue the heck out of it and slam them with mountains of evidence showing current market prices (if using ebay, only Buy It Now is submissible) for items of similar age and condition.
However, expect to lose money anyway, as there are a world of tricks and terms they will use to avoid paying out even equal value. They will do such things as finding similar earlier item models (of lesser value) and consider them equal to your own, thus lowering the average price.
And never ever take the first offer!

Best of luck...
 
Argue. You're entitled to be in the position you were prior to the accident. You will need proof of the value of the modifications, though. An agreed value policy could in some way aid that as it would be proof of value, but the policy would be irrelevant as you are not claiming from it.
 
strip the car of mods, tell them they can keep the car. get full pay out to buy new car to slap ya salvaged mods on ;)

would be ideal really I think :)

when my escort got written off.. (damn chavs).. I went along to the garage and asked If I could grab my speakers out of it and they just chucked me the keys and said it's out back lol obviously a bit more complicated when you have key engine components that you'd want (and probably a lot more too, e.g. suspension etc..) but never know if ya don't ask xP

(prepares to get slated for a stupid idea)
 
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Hxc said:
You're entitled to be in the position you were prior to the accident.
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This is the part they will debate, though.
Case in point - Motorcycle accident. I had a £450 helmet that suffered damage. Can't go get a 2nd hand one, *have* to buy new, such is the nature of these things.
These days, new one now costs £600. 3rd party insurers offer a maximum of £250.
Age, wear & tear, betterment and the fact that their insured (who admitted full liability, btw) only did an estimated £50 worth of damage to the lid. Those terms were the key parts behind their argument and my own solicitors actually refused to go to court over it.
 
ttaskmaster said:
This is the part they will debate, though.
Case in point - Motorcycle accident. I had a £450 helmet that suffered damage. Can't go get a 2nd hand one, *have* to buy new, such is the nature of these things.
These days, new one now costs £600. 3rd party insurers offer a maximum of £250.
Age, wear & tear, betterment and the fact that their insured (who admitted full liability, btw) only did an estimated £50 worth of damage to the lid. Those terms were the key parts behind their argument and my own solicitors actually refused to go to court over it.
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Should have taken the third party to a small claims court yourself for a negligible one-off payment.
 
Hades said:
Bank statements are held by the bank for 7 years.
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this guy.... this guy knows stuff! :D

would it really be as simple as going into your bank though and asking them to search for all your transactions from a particular store/company? be cool if you could!
 
Sasso said:
would it really be as simple as going into your bank though and asking them to search for all your transactions from a particular store/company? be cool if you could!
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Building society. And no, it isn't. I can get duplicate copies of statements, though... Cost - £135 for duplicate statements coving the approximate period when I purchased it and even then it would only show a cash withdrawal (cash deal, y'see, hence the low purchase price).
That expense was not authorised by the 3rd party.

Anyway, I had all this out with my solicitor over 6 months and we're derailing the thread now.
 
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