GrannyGranny Posted May 24, 2011 Share Posted May 24, 2011 Thats not the insurance companies fault really. You bought a cheap bike, loaded the excess to reduce the premium and unfortunately had your bike nicked. Did they give you a figure or just said don't bother? Link to comment Share on other sites More sharing options...
John X Posted May 24, 2011 Share Posted May 24, 2011 My car has been written off by insurers, deos anyone know how long it takes for them to pay you out, i need a car desperatly:help: Who's fault was the 'incident'? ie. are you claiming from your insurance company or someone elses. John x Link to comment Share on other sites More sharing options...
truman Posted May 24, 2011 Share Posted May 24, 2011 Slighty different I know but, some years ago my car was written off, the insurance apid out fairly quickly. Some months(?) later I had a letter from a man in Bradford asking if I had the spare key and the front of the CD player. I didn't reply, but if it was 'written off' how come he got the car repaired enough to drive it. Is this called cut and shut? You can actually sometimes buy your car back from the insurers after they have written it off....if you're prepared to do work yourself you can make cash Link to comment Share on other sites More sharing options...
GrannyGranny Posted May 24, 2011 Share Posted May 24, 2011 AS said earlier if its Cat C or D the car can be returned to the road if repaired correctly. Cat B & A cannot be returned to the road. The Insurance Company will have salvage companies it sells the cars to and then these will either repair and sell it themselves if Cat C/D or sell on. If Cat A/B they will strip for parts and then crush. Link to comment Share on other sites More sharing options...
spudgun Posted May 24, 2011 Share Posted May 24, 2011 Thats not the insurance companies fault really. You bought a cheap bike, loaded the excess to reduce the premium and unfortunately had your bike nicked. Did they give you a figure or just said don't bother? They gave me a figure first. When it came to renewing it they advised to just take third party only out Link to comment Share on other sites More sharing options...
alchresearch Posted May 24, 2011 Share Posted May 24, 2011 Don't accept the first offer they give you as they always offer you low amount at first +1 to this. They'll also go by Glass's guide which is woefully inaccurate. Get a printout of about 5 cars from Autotrader within a 20 mile range to show the insurers that you can't get a like-for-like replacement for the price they state. They tried this on with me and I did this and got a much larger settlement. Link to comment Share on other sites More sharing options...
John X Posted May 24, 2011 Share Posted May 24, 2011 Get a printout of about 5 cars from Autotrader within a 20 mile range to show the insurers that you can't get a like-for-like replacement for the price they state. Can people please remember that although advice like the above can help, it does rely on the goodwill or resiliance of the insurance company? It is a widely held misunderstanding that the insurance company has to make you an offer which will allow you to replace the vehicle with a similar one in age, condition or mileage. They don't, and they are under no contractual obligation to do that. I found this out the hard way when I had a motorcycle stolen after I had bought it two weeks before. I had paid £765 for it and was offered £125 as a replacement value. I backed the offer and over the next two months kept every example of that bike for sale in the UK. The prices ranged from £650 to £1699 depending on age and condition. When I sent copies of all this stuff to my insurers they upped the offer to £165. I contacted the RAC's legal department for advice and they said that as the bike was over 10 years old the insurance company was regarding it as worth just above scrap value. The fact that it was a classic bike with an increasing value (as shown by what they were fetching in the real world) placed them under no obligation to reflect that in their offer. They also said that the Insurance Ombudsman would back the insurers in their estimate. Motor insurance does not protect your property. It just fulfills a legal requirement. John X Link to comment Share on other sites More sharing options...
truman Posted May 24, 2011 Share Posted May 24, 2011 Can people please remember that although advice like the above can help, it does rely on the goodwill or resiliance of the insurance company? It is a widely held misunderstanding that the insurance company has to make you an offer which will allow you to replace the vehicle with a similar one in age, condition or mileage. They don't, and they are under no contractual obligation to do that. I found this out the hard way when I had a motorcycle stolen after I had bought it two weeks before. I had paid £765 for it and was offered £125 as a replacement value. I backed the offer and over the next two months kept every example of that bike for sale in the UK. The prices ranged from £650 to £1699 depending on age and condition. When I sent copies of all this stuff to my insurers they upped the offer to £165. I contacted the RAC's legal department for advice and they said that as the bike was over 10 years old the insurance company was regarding it as worth just above scrap value. The fact that it was a classic bike with an increasing value (as shown by what they were fetching in the real world) placed them under no obligation to reflect that in their offer. They also said that the Insurance Ombudsman would back the insurers in their estimate. Motor insurance does not protect your property. It just fulfills a legal requirement. John X I suppose the moral of the story is to get a policy that will give you an agreed value for your car/bike.. Link to comment Share on other sites More sharing options...
John X Posted May 24, 2011 Share Posted May 24, 2011 I suppose the moral of the story is to get a policy that will give you an agreed value for your car/bike.. Which I what I did with its replacement! John X Link to comment Share on other sites More sharing options...
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