Car written off read on... How to get full market value... (Motor Insurance - Comments & Tips)

Name: priderock

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Product:	Motor Insurance - Comments & Tips
Date:	26/02/04 (3252 review reads)
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Please dont be put off by the fact that I am a new member I am trying to help you out.

I have previously worked for a well known motor insurer and I would like to pass on some information to help you get the full market value for your vehicle if your vehicle is written off, otherwise known as a TOTAL LOSS.

Once it is established if your vehicle is a total loss start looking around in magazines such as Autotrader, local papers etc. Take a peek at the Parkers Guide.
Try and find out how much your vehicle is currently worth (how much it would cost you to replace) this is valuable information you need to make photocopies of these details.

Once youy receive your settlement figure from your insurance company compare it to what you have written down on average from your findings.

Im not saying insurance companies are trying to give you a lower value, this doesnt always happen millions are happy with what they receive but many are not satisfied as the local garages etc are trying to get X amount of profit.

If you are disputing the value write a detailed letter to your insurance copmpany outlining what you have found (try to get as many examples as possible within your area) send in the evidence, photocopies, the actual ads etc.

Your file will be reviewed and your insurers will get back to you.

If your insurers cannot increase ask them to research the same sources as yourself and get back to you to show you that they are nearer the mark.

Dont be put off many insurers will let you have your settlement without prejudice meaning you have the cash for your new car and you can continue the dispute and any additional monies can be forwarded to you at a later date.

Hope this helps :)

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