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Third party, fully comp or agreed value - talk about it here
Section : Agreed Value
Posted By : Steven Fenby, 10-Nov-2005, 05:04pm
Hi Everyone,
I hope someone can help. A few months ago I purchased my first ever classic car, a 1972 GT6. I purchased it for a bargain price of £1500 and
after having it checked over by a mechanic I released it was in very good condition for the money with only a few blebs over one wheel arch.
I recieved a great price from Peter Best car insurance of just over £100 fully comp for the year, and after reading some advice on here
decided to obtain an agreed valuation. I sent in the photographs of my car and waited. However I soon got a phone call saying that they were unable to give
me an agreed value unless I disclosed the purchase price. For an easy life I told them the price I paid and I soon received an "agreed value" of
£2000. Unhappy with this valuation I called them up and argued that should anything happen to my car I would like to replace it and that
£2000 would not do that. I also stated that the value of something is not necessarily the price you pay for something. If I'd discovered a
Matisse in a charity shop, I'm sure it wouldnÂ’t be insured for the few pounds I may have paid for it! After some umming
and ahhhing they said there valuer would call me back. He never called.
Not thinking much about it, a couple of weeks later a lady in a 4x4 reversed into me, causing £2500 of damage and effectively writing the car
off. The crash was in no way my fault and she admitted blame straight away. But now I'm in the predicament that my car is only valued at £2000
and I will now have to pay alot more in order to get a replacement nearly as good.
I've tried speaking to them, but they never return my calls or they leave the trainee to run the office so I can never get to speak to someone in charge.
They have left messages with her saying that they will not change the valuation and I feel totally ripped off as I now have to find a further
£2000 to find anything similar to what I bought.
I have never dealt with such an incompetent bunch in my life, is there anything I can do?
Many thanks
Steve
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Posted By : Colin Wake, 10-Nov-2005,
05:51pm
Is there anything you can do???
YES!
As it was entirely the other persons fault then you are entitled to be returned to the position you were in prior to the accident, or words to that
effect.
Provide them with a selection of cars or sale in the same condition as yours to prove what you would have to pay to replace it.
What you paid is irrelevant, though it isn't helping you.
We have a few insurance experts who post regularly... Yooo Hoo Jason, you out there???
I have heard good things about Peter Best in the past, perhaps you have been very unlucky, ask to speak to the Boss.
Have a check through the archives for more info, ring your local AO, they may be able to supply a better market value.
Keep us up to date.
Cheers
Colin
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Posted By : Glyn Davies, 10-Nov-2005,
06:22pm
I went down much the same route with Footman James who told me on the phone that the agreed value would be equal to the purchase price. I ignored
them and submitted the club agreed valuation form and the paperwork came back at the value I wanted. All a bit late bit late now I know but for me
it was worth using FJ so I could get the valuation by the club as a 3rd party.
Glyn
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Posted By : John Davies,
10-Nov-2005, 09:13pm
I'm sure Colin is right, and also that the threat of the Small Claims Court may be useful - you can sue for up to £5k there.
But get hold of the lady's insurance Co.
John
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Posted By : David Freeman,
10-Nov-2005, 11:03pm
Hmm I must get an agreed value on my fab machine. I need the best route...
PS Another tragedy caused by a 4X4 'SUV'?
Burn them all I say.
All of them, every single one, no prisoners, no arguements, no exceptions iffs or buts.
Burn them all and send the owners/drivers to a re-education unit for people with small penises (or for those married to people with etc
etc) I hate them. Completely uneccessary, dangerous, unfriendly, arrogant, aggressive, ugly, filth vehicles.
I grew up on a farm, and there is nothing that an old Austin/Morris/Ford couldn't pull push pick-up carry or shove.
Triumph never made a 4X4 did they?
DF (a bigot)
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Posted By : James Carruthers,
10-Nov-2005, 11:07pm
They did actually - kind of.
A 4 wheel drive Triumph 1300 - and at least a few Stags were converted to 4 wheel drive I believe!
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Posted By : Don Cook,
12-Nov-2005, 09:08pm
OI! I take exception to your post. Not all people with small penises drive 4X4s you know....err, err...