Looks Like My P1 Is Getting Written Off

[kevin_bain]

Guys,

I recently had a "bump" in my 2001 P1, causing front end damage to the tune of 4.5K. The insurance company are looking to write the car off as the book value for my car is coming in at £4000. I am still waiting for them to confirm that it's a goner but it's not looking good. I had the car insured for a value of £8000. Is there an argument to be had with the insurance as i would not be able to go and buy another if they pay me out £4K. Or is is just tough luck?

I was also looking at the option of retaining the car and either repairing or breaking the car

Could anyone point me in the direction of any breakers yards?

Thanks in advance

Kev

[plodster]

Hi Kev,

Sorry to hear your bad luck on this, personal favourite car is the P1. We recently had our other Impreza written off after being rear-ended while parked, caused £8000 damage to a £7450 valued car that we had insured at it's value of £9500. After a long and embroiled battle with the insurance company we managed to prove that it could not be replaced for the money they originally offered in settlement. In order to prove it we had to produce current adverts relating to the sale of a similar make, model, age, mileage and spec to the car being written off. It was also said that the cars had to be for sale within a 100 mile radius but on something as rare as yours I'm not sure this would apply.

Given how much you insured yours for and it's probable condition and mileage, I would argue the case strongly that you cannot replace it for the settlement being offered. Settlement on a claim like this has to enable you to purchase the same specification, make and model of car again in replacement for the one you have lost.

Good luck and fight for it!

Peter

[kevin_bain]

Peter,

Thanks for the reply, I shall fight it out with the insurance company and it is good to hear that there might be some hope to recover more than just the book price.

To be honest i would actually prefer to have the car repaired and back on the road but i will just have to wait and see what my options are when i speak to the insurance company this week.

Cheers

Kev

[Ovv]

Hi Kev,

Sorry to here about the car, I recently bought a P1 and have it insured for £8.5k and was told that I would get market value if anything was to happen with it, the car said that they based the value of any payout would be based on finding a car with a similar mileage, spec - he said that they used prices on autotrader.

I would be looking around to see what they are going for and provide proof that 4k is just having a laugh.

Chris

[doogz]

sorry to hear about the bump on the p1, insurance = legalized theft, my mrs first new car ever was gtd golf specced up with a body kit and 18" alloys leather and lots more, cost best part off 22k,a year and a half later some pillock in a works van skidded a cross the road in front of her and she couldnt avoid hitting it, totally blameless and the car was written off, the first offer was 11 1/2k, after much wrangling got them up to 14k final offer, the only gtd golfs you could get for that money then were higher miles than hers and not as well specced, so dont accept their first offers and fight the feckers all the way, as a fellow p1 owner, i hope you get a favourable settlement, good luck

[baldobaz]

Here's the thing within the motor industry retailers and insurers the book price they want to give you is the money that it would get at auction and not what you would get selling the car privately or if they were selling it on a forecourt, its a way of making sure they retain maximum profit, your P1 would probs fetch 4.5k at auction from somebody either looking to rebuild it or to break it via a breakers such as scooby spare etc. When they ask you to find other examples in a 100 mile radius they will only be interested in the cheapest examples regardless of how imaculate your example may be, i have been victim of this in the past only to see my car rebuilt and back on the road 2 months after it being written off.

[kevin_bain]

Im prepared to fight this all the way and have another car so i'm in a good position as i'm not in any hurry. Gutted about the P1 tho just had the engine re-built last year and was looking forward to trouble free motoring lol.

Good feedback guys, i'll let you know what the outcome is.

Only other thing which i am about to look into is my private plate. Will i need to have this sorted out and removed prior to the car getting scrapped? I don't want to lose it??

[kevin_bain]

Hi Kev,

Sorry to here about the car, I recently bought a P1 and have it insured for £8.5k and was told that I would get market value if anything was to happen with it, the car said that they based the value of any payout would be based on finding a car with a similar mileage, spec - he said that they used prices on autotrader.

I would be looking around to see what they are going for and provide proof that 4k is just having a laugh.

Chris

Who are you insured with??

[doogz]

Im prepared to fight this all the way and have another car so i'm in a good position as i'm not in any hurry. Gutted about the P1 tho just had the engine re-built last year and was looking forward to trouble free motoring lol.

Good feedback guys, i'll let you know what the outcome is.

Only other thing which i am about to look into is my private plate. Will i need to have this sorted out and removed prior to the car getting scrapped? I don't want to lose it??

yes get it put on retention asap

[Ovv]

Who are you insured with??

Admiral.

[lewisscoob]

I was and always have been told that insurers only pay out "market value". However, when I wrote off my first RA, I argued my case like you need to and found 3 examples of other cars for sale in the UK. I used Pistonheads and Autotrader.

I got back exactly what I paid for the car. This was with Elephant and they were absolutley great with it.

Edited July 24, 2012 by lewisscoob

[kevin_bain]

Update from the insurance today. I managed to speak directly to the assessor who told me that all the parts had been added up including labour and comes in at an eye watering £6700. I then asked him what his thoughts were on using salvaged spares and he was keen to go along this road to see how much I could get hold of the parts for to get the car back on the road without making it a cat C.

I was fairly surprised that he was keen to do this to be honest but obviously it all depends on the cost of parts.....the 1st offer was going to be £5000 and if I wanted to retain the car it was going to cost me £1050. Even if I can’t get the car repaired through the insurance i will definitely be buying it back as I had the engine re-built last year at a cost of £4K.

At least I have some fairly decent options, I just need to find all the parts at a decent price.

Any advice??

Cheers

Kev