Insurance valuation...
 

I got up this morning to find some drunken yob and friends have walked back from the pub along the side of my volvo T-5R, damaging both sides and the bonnet with some sharp object, (key,coin,etc)..

I work in the motor trade and have a bodyshop who are doing the estimate as we speak however my Insurance company say they will try and find another in the autotrader to give it a value..

How can I explain to them that it is a rare car, (854 black, manual, saloon) original 850 T-5R!!! My excess is a standard price but I don't want them to right it off.. Has anyone got any ideas to how to go about getting her repaired without her being a cat c or d insurance write off..

To be honest I'm not that bothered as I wouldn't sell her ever but just in case.. any help greatfully received,

Scott....

If the cost of the damage exceeds 80% of the value (thats the hard bit, a true valuation) they will write it off, thats standard procedure, however, you can ask for a reduced payout and keep the car to get repaired yourself. If you accept the full scrap value of the car then the insurance company takes ownership of your car and scraps/sells it on. Unfair i know but thats how they work.

My guess would be it will get written off so don`t go through insurance, yes i know its gutting and thats what you pay your insurance for but that life and part and parcel of owning an old car.

Find yourself as many cars online and in papers that are a similar representation of your car so you can use those as haggling points to get more on the valuation if there offer is way out. If it is wrote off ask them to replace the car like for like with one you find yourself.

Thats a nice thought but i dont think any insurance company would put themselves to that much trouble when all their loss adjuster wants to do is write the smallest cheque he can for your car.

Sorry Alan but that would/will never happen, in an ideal world maybe, all the insurers will do is offer midd to bottom book for the car as to them like most people its just an old Volvo no more no less and you will really have to push hard to get any more from them if at all, as for them replacing the car like for like you do like a chuckle don`t you.

Cheers everybody,

I've just been told that they might not write her off!!

If they can't find the exact car on auto trader then she will not be written off and hopefully I'll pay my excess and she will be looking like new.. well apart from the roof which I will get sprayed whilst its in the oven etc. etc...

Yippee...

good news
 

that is good news,may we know the company involved, its certainly worth noting.

Good news and you have had a result. A GOOD and i do mean GOOD no BLOW OVER RUBBISH BODGE respray would cost at least two grand. Not many old T5s are worth that much. so if they do a good job please give me the name of your insurance company.

Its QBE Insurance (europe) Ltd.. under written by Ensign or the other way around..

However I'm trying to work closely with the companies Insurance accessor as he will be the one that views the car..

I have done the obvious and got ebay, pistonheads classified ads etc. with T-5R from £1500 - £3995 so fingers crossed..

I will keep you all in formed..

Thats good news fella, hope it all goes well mate :thumbs_up:

Good luck with the visit.

Just to offer the counter argument ( ;) ) not all insurance assessors are penny pinching half-wits. My other passion is classic landrovers, and I've read a number of cases where the assessor has been very reasonable indeed, especially where the vehicle concerned is a bit rare or a limited edition. Its a bit of pot luck, but if you get an enthusiast then he may well go in your favour and want the car saved.

Fingers crossed anyway.

My mate had a limited edition Honda which he bought off me, it was stolen and fired. The insurance company offered him book value, he told them no, said he wanted what he paid, they contacted me asking what he paid, i told them to stick it, nothing to do with them, good friend i know, they argued a lot. In the end gave him £500 more than he wanted cos it had lower miles than average. If you argue enough they'll cave, just dont go asking for £40k on a 440!!! haha