Settlement offer - does this sound reasonable, or not?

[PriorityOne]

I had a car crash last week and the car is a total write-off (I am ok though ). The insurance assessor rang me this morning and said that due to the age of the vehicle, mileage, etc., they would settle for £500.

The car was a Ford Fiesta, N reg (1996 ?), mileage was 93,000.

He has given me time to think about it and left his 'phone number. A couple of friends have advised me not to accept the first offer.... Any ideas/advice ? I have never had to deal with anything like this before.

PS.... have just realised, my excess will probably have to be deducted from this amount... leaving me with only £300 !

[Gertie100]

Just checked autotrader online and there are some N reg, similar mileage as your up for £250! However does appear to be exception rather than rule.
According to the others on sale this does look about right...although try for another £100 (I need more time to trawl through the site!), you have nothing to lose!

(Just had my car written off as well, and accepted settlement so know what you are going through!)

[Pat-Uk]

What was the pre accident condition of the car, was if serviced form new, full service history, loads of receipts ect. all will add to the value of the car.

[craigwalton]

Also, how much have you got left of the insurance. How many years no claims discount do you have?

It might be better off you withdrawing the claim to keep your no claims??

[Rob S]

What model Fiesta was it?

[PriorityOne]

Hi everyone and thank you so much for your replies....

I must admit, I was expecting something in the region of £500... although there is certainly nothing for sale in my area for that price with a similar reg. and I need to replace the car fast because I have no other way of getting to work !! (I have next week off though).

I will try and up the offer tomorrow anyway.... am so cheesed off at the moment.... the courtesy car is being collected tomorrow as well. Everything seems to be happening all at once. Sorry to hear you are going through the same thing Gertie...

The pre-accident condition of the car wasn't fantastic... I had tried to repair some (non-structural) rust holes, but had also only just paid for a brand new exhaust 3 weeks earlier. .... so the timing was awful !

I have a Protected Maximum No Claims on the insurance... so the accident will have no effect on my premiums at renewal (September)... it says so in the policy, but I also 'phoned up today to check.... so one good thing, I suppose.

It was a Ford Fiesta Classic Quartz with 3 former keepers... don't know if this makes any difference ?

[Pat-Uk]

Sorry to disapoint you, but although you still have full no claims, your insurance will still go up as a result of a claim

[PriorityOne]

Originally Posted by Pat-Uk

Sorry to disapoint you, but although you still have full no claims, your insurance will still go up as a result of a claim

It's a protected no claims though... and I have been assured that it won't. It also states this clearly in the Policy docs. If it wasn't protected, then I would agree with you....

The whole thing is still a nightmare though....

[Pat-Uk]

I have protected No claims, and I was hit in the rear by another driver, who is denying any responsibilty, even though I still have full no claims, my premiums have still gone up, I proved this by putting both cenarios into the online quote systems, full bonus and no claims/accidents and full bonus and one non fault claim, nearly £200 difference !!!

[Gertie100]

I would get a copy of the receipt for the brand new exhaust over to the assessor and demand this is taken into account...I managed to get them up by £500 on my car because I had spent that amount changing a load of sensors only 4 days before the woman hit me because we had decided to keep the car for another year...how wrong we were...

With regard to your courtesey car surely you get to keep it until your cheque comes through? Or a certain point after that to enable you to purchase another car? Or am I just lucky with my courtesey car?

[PriorityOne]

I am too peed' off at the moment to fight anyone over anything right now... so will take issue with the insurance premiums if/when it does go up at renewal. It states very clearfly in the Policy that it won't go up though.... .... so to me, it seems wrong to state that in the Policy (and on the 'phone) and then do something completely different upon renewal. This is also my very first accident and it was no-one's fault either. I can't worry about this now though... I will tackle it in September.

As for the assessor, he is waiting for me to 'phone back. I have already refused his offer and he is considering £700 (my offer). I haven't mentioned the new exhaust to him.... so I will do that when I speak to him next. Thanks Gertie.

I tried to keep the courtesy car until I had at least received a formal notification of write-off, but they were having none of it. I thought this may have been to pressure me into settling.... Once again, the Policy states that the car can only be kept for 3 days when the car's a write-off... but I took this to mean 3 days after the assessor had decided it was a write-off, not the people in the bodyshop of the garage.

To be honest, I am past caring... I am waiting for them to pick it up now... and then I'm going out with a friend... I have had enough.

[craigwalton]

Welocme to the insurance world!!

right - sorry but your Insurance will go up - I'll explain....

If your insurance premium for the last year was, say, £1000, and you had 60% No Claims Discount, you paid only £400 for the years premium.

OK. This year, because you have had a fault claim, you are classed as a higher risk driver, so your premium for next year will be say £1200. Because you have protected your No Claims Discount, you will get a 60% discount still, meaning next years premium will be £480, an increase of £80. If you didn't protect your No claims Discount, the discount would have gone down to something like 20%, meaning you would have to pay £960.

What they should have said is your premium will go up, but not as much as if you didn't protect your NCD. However, ring back to confirm they tape all their calls - you might have a chance getting a price freeze next year5, if it is on tape the Call centre advised no increase.

Also with regards to the exhaust, you might get something if it was a standard new one. If it was a performance exhaust, and you did not advise the Insurance Company, it is highly unlikely.

good Luck

[Gertie100]

I am right in thinking that the insurance policy does not clarify 3 days from when?
Ultimately the courtesey car is there for you until you are in a position to purchase another one. As I mentioned before I get to keep my courtesey car until 5 days after I receive my settlement cheque in order to give me time to purchase - check again!

Don't not fight - don't get mad, get even!

[PriorityOne]

This is the precise wording in the Policy....

If you have maximum no claim bonus protection, the following will apply :

1. We will not reduce your no claim bonus if a claim or claims are made under the policy.
2. We will not increase your premium as a result of a claim or claims under the policy.
3. We will not cancel your policy as a result of the number of claims made under the policy.

I haven't 'phoned the assessor back... I will do it after the Bank Holiday. It's been a long week, but a friend from work has offered her car to me until I can get another one (her husband also works with us). How kind is that.... ? I can only get into work by car... there is no other way.

My faith in human nature has been restored. Last week it was in tatters when people drove past me trying to climb out of an overturned car and didn't even stop to help me !!...

[PriorityOne]

Well, the insurance finally settled for £600...after I refused their first offer. Not brilliant, but an extra £100 is not to be sniffed at.

HOWEVER.... I have been driving my friend's car this week and have now noticed a small chip in the windscreen. I am sure is wasn't there before..... anyone know how much this kind of thing costs to repair/fix ? :o

I'm beginning to think I'm cursed !.... Either that, or I must have really pee'd someone off bigtime in a previous life !