Flooded car

Skywalker said:
£21'000 with no mods
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So £26k with mods?

Skywalker said:
Ive just done some online valuations etc and they are coming in about £21'500 on average for my car on the mileage with mods of course
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£21.5k

Lord_ZED said:
Man this is like storry with my mates R33 that was stolen. He had fresh engine 650hp build top to bottom 15k job. Ofc it was all insured and all. When it got nicked they offered him 6000 pounds !!!!!! Could not get crappy R33 for that sort of money. And that case was dragging for 2 years :/
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Starting sound like it may end up like this tbh

Skywalker said:
Think cap was 21.5 ,
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That with or without mods?

So 21 - 26k, 18-26 including their "valuations"
they've offered you what 18?
So £18+mods 23k? Would you be happy with that?

Puts it slap bang in the middle of the ones above.
Have the FOS come back to you at all?
 
Fos don't get involved until I've put in a complaint and had a response. I'm just waiting for a final offer in writting then the process is to put the complaint in when I have that.

I would be happy with 24k to be honest. That's car at 21 and 3k mods
 
CAP for your car below with miles set at 21000 (your reg does not bring it up, have they started the process to write it off with the DVLA ?)

Average dealer retail £18,900 - £20,750
Private sale price £18,500 - £19,300

Have you been advised how much they are going to pay for the mods ? I still think you are expecting to much for them, second hand parts aren't worth much unless of course the insurance policy stated new for old and as already stated they don't normally cover the fitting costs.
 
From the insurance company as of 5 minutes ago

I do accept there is not the exact same build for this car (which is generally the case on Evo’s), which is why the offer was £18,000 and above these advertised prices.

As we discussed now that the insured has provided a stamped service book with some service receipts, the final offer is £18,250 less the excess.

This would be my final offer, therefore please put this to the insured.
 
In what world do they think thats acceptable?
At 5k's worth of mods thats putting the car value at 13k :/
In no way is that a fair market value for even a standard version of your car.

Ah right I thought you had already raised this to FOS

Looks like this may drag on :( Get it over to FOS and keep us updated mate.

And who was the insurer refusing to offer a fair market value on your vehicle?
 
dealing with insurance company's can be a complete ball ache.

my mate was offered £3500 for an RHD Hartge E30 M3.. now needless to say they took there value from an E30 325i sport..
they didint take into consideration of the fact it was an E30 M3 and 1 of 25 right hand drive conversions done by Hartge.. ( on a side note when looking at there conversion I honestly believe I could do a nicer job!! )

after sending them a few online adverts they upped there offer to £13.5k :eek:
Gordon's response to the £3500 did ask them if they had forgot to put a 1 in front... sadly the car got written of 18 month to early.. as now I reckon you wouldn't buy one for under £19000 let along a hartge one..

Insurance company's are a law to them selves we had letters from Munich legends who had dealt with Gordon's car stating the rarity and value off it, also a build letter from Hartge uk ( Birds ) proving the car was a genuine conversion. and also showed them adverts that at the time were all around the £13000 £14000 area

fight youre corner and even try and get company's involved that knew you're car. was it serviced or worked on by any reputal company's?
 
From the broker - Modifications are like for like based on this example - if you had 2 wheels stolen they would replace 2 with the same not standard wheels as other insurers do - Just as a stainless steel exhaust is a stainless steel exhaust not mild steel etc

Going by the like for like example my exhaust was £1000 - tein flex £1000 - remap and induction kit say £800 . But I don't understand why this amount is not put ontop of the offer ???

The company are called Chaucer via Paceward from the MLR .
 
After talking with the head engineer I think I am getting somewhere

I asked him why they are comparing against higher mileage cars then adjusting rather than using the examples I sent on mileage near mine and he said the broker had not forwarded those ones on !!!

I said the 17k , 17.5k and 18k offer from the previous engineer was using comparables such as the 300 and sst(auto) variants and his offer of 18k should be a starting point now he has comparing against other 360's

I informed him the examples I had been sent had previously been sold so are not comparables for me to go out and buy

I said I feel like you have taken my car and are offering me silly money as my car is at ransom and he admitted it would have been better if I had the car here and taken the mods off and taken £18.250 or even 20k comparing against the links I have just sent him and then sold the mods for £2000 giving me £20,250 or £22,000 and can now he can see why I value the car at a price a lot higher than any offers.

He has agreed that he will return to me by Friday with his comparables (un sold) and if it will head down the route of FOS he will agree an interim payment
 
Sorry to see this is dragging out, are you able to agree a value on the mods (and possibly get them to pay out?). So that at least you know they're only looking at the car value then?
 
The Running Man said:
Yep should have stripped it before you let them take it:(
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I wouldn't have left them take it til they had a full and final settlement cheque in my hand.

Scottland said:
Sorry to see this is dragging out, are you able to agree a value on the mods (and possibly get them to pay out?). So that at least you know they're only looking at the car value then?
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That might be a good call if looking at this "interim payment" approach, which I wouldn't touch with a bargepole tbh.

They've said they replace like for like on mods, get the mod values and a quote for fitting and have them send you that as a payment. Then all that there's left to discuss with them is the actual car value.
 
After the chat with the head engineer yesterday he has already got back to me with an updated figure and is using the formula I suggested by car value and mod breakdown seperate. I shall update when he's sent this over in an email.

Just nice to have someone listen for once.
 
Beginning to sound like it was the broker letting you down tbh.
Never used a broker before, if you need info about your policy or to make a claim or anything do you always goto the broker? Or direct to the company that insures you?
 
The problem was the broker trying to be the middle man as they should but cocking a few things up along the way.

All im after now is finding someone with access to glasses to see if the car figure is correct
 
Glasses car value as engineer has told me is £17,250 which I feel is a little low
Mod value is £5000 (inc fitting) minus 25% depreciation so £3750

Total offer £21'000
 
Starting to sound a bit better.

When you took the policy out were you advised that like for like mods would include depreciation?

As for the glasses guide price, *shrug* CURRENT MARKET VALUE is what my insurance repeatedly batter me with whenever I speak to them.

can he give you links to similar spec/age/mileage cars even selling for that much never mind available?

And didnt the same engineer suggest taking 20k after removing your mods?
Therefore 20k +mod value = £23750 ?
 
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The thing is they have taken into account the fitting costs on receipts for everything and also the clutch and fly wheel which is an additional £2000 I never thought would be included as it was never on the modification decleration just wear and tear in my mind and they just included it, so to me its balancing itself out that way in my mind and I am tempted with the offer to be honest as I have a nice little Datsun sitting outside lol
 
really this is their first "proper" offer with all of the correct info.
I'd treat it as if this weas the first offer they've come to you with and ignore everything thats happened.

Go on man push them :p
 
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