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Settlement figure drastically cut


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I have just received an offer for my vehicle from the insurance company after it was written off.


They explained that they have valued my car at £14900 but because my estimated value in my policy states £11000 that’s the maximum figure they can offer.


They agree that £11000 won’t buy me a like for like but insist that the figure is capped to the figure estimated on the policy.I've raised a complaint with them.


In the mean time they’ve offered the interim payment for now for the full 11k which I've flatly refused.


Can this be fair???

Edited by dx100uk
added A few blank lines only..dx
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I expect that site team member @unclebulgaria67 will be along soon to give you a more specific answer but for the moment, I understand that the vehicle was insured for a maximum of £11,000 and I imagine this is because this is how you declared the value. Is this correct?

If not, then how is it that the policy appears to be pegged at the value of £11,000.

Incidentally I don't see any problem about accepting an interim payment as long as it is not accepted on a full and final settlement basis

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When you take out vehicle insurance they ask for estimated value and the premium is party calculated using this.


I think you need to look at the original information when you took out the Insurance.  If you don't have this, then send a Data Protection Subject Access Request to ask for all information, including any website information from when you took out the policy.


Also check the policy working and Insurance documents that have been issued.  Does it state anywhere that the estimated value would be the maximum payable. 


Market value of vehicles has been on the increase.  Have the Insurers been in contact with their policyholders to ask them to check values listed on policies and to increase them ?


Does sound a bit odd.  Most policies will pay out for market value, unless this specific policy caps the maximum claim payout to the value you gave them. 


Agree that you could suggest they pay the £11k accepted as partial settlement and that you will enter into a dispute for a higher amoumt.

We could do with some help from you.



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Thanks for your valued replies guys.
The lesson I’m getting from this is, in these times of increased values we should all keep tabs on the value of our vehicle’s.

I paid £12k 12 months ago with 20K on the clock.

Now at 60K and a yr older it’s been valued at 14.9K.

Im a cab driver before you ask.

Are we able mid term of a policy to call the insurance company to up the estimated value within the policy??

If so, would surly be a good idea.

Edited by Westkent
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I am interested to know by whom it has been valued at £14.900?


A brief description of make, model and year would also help.

My time as a Police Officer and subsequently time working within the Motor Trade gives me certain insights into the problems that consumers may encounter.

I have no legal qualifications.

If you have found my post helpful, please enhance my reputation by clicking on the Heart. Thank you

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The insurance company told me this figure of 14.9 on both occasions I called them today.

The vehicle is a Hyundai ioniq Premium SE with a 67 plate.


Full main dealer service history.

In vgc

Edited by Westkent
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