VRI Insurance won't pay up the difference

[whu1]

I had insurance and VRI insurance with a new car I bought 3 years ago. Anyway the car got nicked and I am in the process of claiming.

 

The insurance company have offered X amount, however the VRI insurance to fill the gap say it is £300 less than what they assessed. The insurance company will not move on their offer. The VRI insurance also will not move.

 

What can I do as this is running into the 6th week since without a car:mad:.

 

Surely as I got VRI insurance to fill the gap from the normal insurance they a obliged by the terms and conditions to pay up (it is only £300). If they don't then they are not providing the service a paid for.

 

What can I the customer do in this situation??? who can I go to, to get this sorted???

 

Please help as I need to sorted ASAP before Christmas. I do not want to lose £300 myself as I don't feel this is right. Why pay the insurances if this will happen????

 

Advice please

[Mossycat]

OK you need to play the two off against each other, but before you can do that you need to know what your car was worth and therefore what it will cost to replace it. By that I don't mean what you 'insured it for' or what you 'think it's worth' but what it really was worth.

 

Start by looking in Auto trader and or local garages and find out how much cars like yours are selling for, now compare this to what your insurers are offering you, if their offer is lower then use this evidence and that of the VRI to convince them they need to up their offer.

 

If what your insurers are offering is a fair market value then use that your evidence and your the from your insurers to convince VRI to up their offer.

 

Basically your insurers are supposed to offer you a fair market price so you can go out and buy another car of same make/model and condition.

 

If your insurers have done this then VRI need to up, if they haven't done this then your insurers should up their offer.

 

Since both are supposed 'experts' get independent market evidence and then play one off against the other

 

Mossy

[whu1]

OK you need to play the two off against each other, but before you can do that you need to know what your car was worth and therefore what it will cost to replace it. By that I don't mean what you 'insured it for' or what you 'think it's worth' but what it really was worth.

 

Start by looking in Auto trader and or local garages and find out how much cars like yours are selling for, now compare this to what your insurers are offering you, if their offer is lower then use this evidence and that of the VRI to convince them they need to up their offer.

 

If what your insurers are offering is a fair market value then use that your evidence and your the from your insurers to convince VRI to up their offer.

 

Basically your insurers are supposed to offer you a fair market price so you can go out and buy another car of same make/model and condition.

 

If your insurers have done this then VRI need to up, if they haven't done this then your insurers should up their offer.

 

Since both are supposed 'experts' get independent market evidence and then play one off against the other

 

Mossy

 

Tried that, with the VRI as the insurers gave a good price and I backed that up with price comparisons as you said.

 

However VRI insurance guys refuse to move on this and it seems it will take 3 weeks to sort, which means 9 weeks:mad:. I need a car now so have had to let this £300 go.

 

There must be someone I can complain too to try and get this £300.

 

The VRI insurance says in it sales pitch they will pay the difference the insurance pay out to what we paid for the car in the first place. Obviously they have not fulfilled their commitment as there is a £300 shortfall. What is even worse is that it is peugeot insurance, peugeot VRI and the car was a peugeot.

 

Would writing to the ombudsman do anything??

[MBNASlayer(1)]

If you have exhausted the VRI complaints route then approach the Financial Ombudsmen. They will investigate (and it will cost VRI about £450 for the FOS to investigate)

 

Of course you could say to the VRI insurer that you plan on doing this so would they pay the £300 to you to avoid the £450 the FOS would charge them to investigate