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stupidly low settlement figure from admiral #1260234
14/09/2011 18:35
14/09/2011 18:35

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



Well its going to be the end of an era
After my very low speed scrape and due to no new parts avaliable my coop is going to be written of by admiral.
I've owned the car since 2002

Problem is they have offered me £1000 for it which is laughable after my £250xs
I said that I can't buy another coop for that money and feel that with mine being such a low milage example 62k that its got to be worth between £1800 and £2k
Only MOTd last month aswell

What do you guys think I should do...and what kind of figure should I expect..

Last edited by Scottsgreenvt; 14/09/2011 18:35.
Re: stupidly low settlement figure from admiral [Re: ] #1260236
14/09/2011 18:43
14/09/2011 18:43

C
coupe_manic
Unregistered
coupe_manic
Unregistered
C



You have to find other examples to show them in order to dispute it, pistion heads, auto trader not eBay though, the thing is this is the worst time to own a coupe as the general Market for these cars is pretty non existant, and most are now moving onto BMW e46, type r's and Audi tt's

Re: stupidly low settlement figure from admiral [Re: ] #1260242
14/09/2011 18:55
14/09/2011 18:55

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



There are only 18 for sale on autotrader at the moment

Re: stupidly low settlement figure from admiral [Re: ] #1260244
14/09/2011 19:02
14/09/2011 19:02

B
bradthe16vt
Unregistered
bradthe16vt
Unregistered
B




You can decline about two offers I think but have to accept the thrid they give IIRC.

Coupe manics right though just tell them its not good enough and providing you can justify it you will get a higher figure.

I wrote off my JDM DC2 last xmas and I was with admiral it took a while but they were very good to deal with and my final settlement figure was double the initial offer so just keep at them mate you will get more wink

Re: stupidly low settlement figure from admiral [Re: ] #1260245
14/09/2011 19:03
14/09/2011 19:03

T
Trix138
Unregistered
Trix138
Unregistered
T



Have you asked them how much to buy the car back, and then use the £1000 to repair?

Re: stupidly low settlement figure from admiral [Re: ] #1260249
14/09/2011 19:12
14/09/2011 19:12

B
bradthe16vt
Unregistered
bradthe16vt
Unregistered
B




I was going to ask the same actually as Admiral wouldn't even let me buy mine when I did mine which I was throughly gutted about.

Re: stupidly low settlement figure from admiral [Re: ] #1260254
14/09/2011 19:27
14/09/2011 19:27

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



No that was going to be my next question...but I was too shocked...
I just don't think its worth repairing with it being cat registered and I was only doing 3k miles a year at the moment in it..

Re: stupidly low settlement figure from admiral [Re: ] #1260261
14/09/2011 19:32
14/09/2011 19:32

B
bradthe16vt
Unregistered
bradthe16vt
Unregistered
B



Thats it mate I wanted mine back due to some rare parts I had on it werent interested in getting it back on the road so agree.

But keep pestering away with them fella and you'll get a more acceptable figure it just takes you back a bit at first like you say when they tell you lol.

Last edited by bradthe16vt; 14/09/2011 19:33.
Re: stupidly low settlement figure from admiral [Re: ] #1260265
14/09/2011 19:40
14/09/2011 19:40
Joined: Jun 2008
Posts: 315
Kent
Rob_78 Offline
Club member 1081
Rob_78  Offline
Club member 1081
Making a profit

Joined: Jun 2008
Posts: 315
Kent
Ask for a cash-in-loo.

Admiral also wanted to write the LE off as the repair bill would have been £2571 !!
That was for a new front bumper, repair the dent in the bonnet & windscreen as I was hit by a large bit of metal while on the M4 in the outside lane.

I got money to repair the car myself £1500 minus my £350 xs ! so i got £1150 in total.

They told me they look on pistonheads & get their prices from there rolleyes

Ring them back & see what you can get out of them.

Rob


LE 557 - full on resteration in progress
Re: stupidly low settlement figure from admiral [Re: ] #1260272
14/09/2011 19:50
14/09/2011 19:50
Joined: Nov 2008
Posts: 307
Powys
spyke Offline
Making a profit
spyke  Offline
Making a profit

Joined: Nov 2008
Posts: 307
Powys
Stick out as long as you can they always offer low at first,and it might be worth trying to keep the salvage rights as it can only be a problem if you sell as then it might need a vic test.

Re: stupidly low settlement figure from admiral [Re: ] #1260277
14/09/2011 20:02
14/09/2011 20:02

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



Jesus....how many coops has admiral written off!!
I will hold out for more...but seriously how much will they increase their offer...
As for examples there are cars from £1000 upto £3250...

Re: stupidly low settlement figure from admiral [Re: ] #1260302
14/09/2011 20:49
14/09/2011 20:49

B
bradthe16vt
Unregistered
bradthe16vt
Unregistered
B



I would expect an absolute minimum of a grand increase that may sound ambitious but you'd be surprised how much you can push them.

Admiral started me at £2500 for my JDM Integra it was a very rare car it took me about three weeks of negotiation but I finally settled on a figure of £5000 then minus my excess after proving its worth to them so its more than possible and I was more than happy with that. This was January into February time this year. You just have be patient with them and justify your need for a higher price try not to lose your temper with them though as hard as it may be as you will get it out of them in the end.

Last edited by bradthe16vt; 14/09/2011 20:50.
Re: stupidly low settlement figure from admiral [Re: ] #1260332
14/09/2011 21:56
14/09/2011 21:56

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



What did you do to persuade them?

Re: stupidly low settlement figure from admiral [Re: ] #1260344
14/09/2011 22:15
14/09/2011 22:15

C
coupe_manic
Unregistered
coupe_manic
Unregistered
C



you have to find examples of other coupes with similer milage and prove its value

Re: stupidly low settlement figure from admiral [Re: ] #1260357
14/09/2011 22:27
14/09/2011 22:27

B
bradthe16vt
Unregistered
bradthe16vt
Unregistered
B



Coupe Manic is correct allthough I didnt have to take it that far.

But yes if you can get proof to justify it you e-mail it to your case handler.

But what I did my JDM DC2 was the one with the rectangular headlights instead of the twin round ones being an import but it was extremely rare being red as most imports are White, Black or Yellow either Silver or Red is pretty rare for an import so is worth a premium.

So as someone else mentioned they got back to me saying they had found my car for about 3500 similar miles etc on autotrader. But I knew mine was about 1 of 5 or 6 in red in the country and I asked them what the car looked like that they were looking at and it was a round headlight uk model. So I told them I couldnt replace my car for anything less than 4500 minimum and that would be high mileage and I said if they could find my exact car I'd take the 3500 but they couldn't haha so I won.

I was very pleased but essentially its the same for any car they arent going to hand over top wack easy if they can get away with paying you less so you just have to be stern with them.

Re: stupidly low settlement figure from admiral [Re: ] #1260774
16/09/2011 10:20
16/09/2011 10:20

N
NeilWilliesInsurance
Unregistered
NeilWilliesInsurance
Unregistered
N



Hi

First thing to do is to look in your actual policy wording and find the section marked ' Settlement of Claims or How we will settle a claim' this should confirm the basis on which they actually settle any claim ie market value etc and their options of settlement ie either repair your car or offer you a cash sum for you to arrange for the repair of the car yourself etc. If they quote market value then you need to also find their definition for 'market value' and quote this to them, if it is not in the actual policy then you will need to ask them exactly what it is .

Once you know the above then you can progress as follows:-

You need to then

Dependant on what they have informed you regarding the settlement ie if they have told you market value then you need to quote this back to them exactly, ie market value should mean something along the lines of the cost to replace the car with one of the same make, model, condition etc. and then provide them with some example adverts of other ones for sale. If you cannot find one exactly them provide them with lots and point out the differences.

You should then be able to come to some agreement regarding the true value of the car which will then decide if it is still a total loss or not. Getting this value correct is the major thing here as for a vehicle to be a write off the repairs need to be somewhere between 50 to 60% of the actual value on the car, dependant on insurer. So obviously if the value they are putting on it is too low in the first instance then this will be the start of the problems.

If it is still a total loss and you not happy with any settlement offer they offer you even after you have done the above then you need to consider the following:-

1. Ask them for a cash settlement for repairs instead and then you can arrange to get it repaired yourself

2. Consider the possibilities of replacing with second hand parts and if you happy to do this then speak to them and ask if they will do this

3. Double check they will allow you to buy back the salvage and request how much it would be to do this, then consider their offer to write the car off and buy back the salvage and arrange to get repaired yourself.

Should you need any more advice just PM me



Unfortunately this is the situation for most coupe's going forward now unless they are insured on an agreed value basis, so next time you get insurance quotes bear this in mind as it may be worthwhile to pay a little bit more but to have it insured on an agreed value basis.

Thanks
Sarah

Re: stupidly low settlement figure from admiral [Re: ] #1261298
18/09/2011 11:39
18/09/2011 11:39
Joined: Dec 2006
Posts: 1,360
stockport
volumex Offline
My job on the forum
volumex  Offline
My job on the forum

Joined: Dec 2006
Posts: 1,360
stockport
i had my coupe reversed inot bonnet grill and front bumper nackered spoke to the adrian flux and there company which deal with my clain and told them to look on pistonheads for the same car/colour and there was a moonie for £6000 so jackpot they fixed it all new parts no questions asked. show them examples of your model and colour and they should back down

Re: stupidly low settlement figure from admiral [Re: ] #1261308
18/09/2011 12:23
18/09/2011 12:23

K
kennyf
Unregistered
kennyf
Unregistered
K



When my 16VT bonnet blow onto the windscreen (near 9 years ago shocked ) I was offered a stupid low amount. Argued the bit with adverts from Autotrader and Pistonheads and got the price pushed up.

It took time but well worth it.

Re: stupidly low settlement figure from admiral [Re: ] #1261314
18/09/2011 12:39
18/09/2011 12:39

S
Scottsgreenvt
Unregistered
Scottsgreenvt
Unregistered
S



Well in the end I was sort of happy with what I got..
Next offer was £1500 then £1750 and finally £1850 minus my £250xs leaves me with just enough to buy a lump of turd!
Bought the car back...so ill try and get a bit more that way...
Thanks for the help though guys...
So far admiral have been good....let's see when the cheque comes...

Re: stupidly low settlement figure from admiral [Re: ] #1261608
19/09/2011 11:02
19/09/2011 11:02
Joined: Aug 2009
Posts: 6,192
Bristol, UK
H
Hovedan Offline
Forum is my life
Hovedan  Offline
Forum is my life
H

Joined: Aug 2009
Posts: 6,192
Bristol, UK
Originally Posted By: Scottsgreenvt
Well in the end I was sort of happy with what I got..
Next offer was £1500 then £1750 and finally £1850 minus my £250xs leaves me with just enough to buy a lump of turd!
Bought the car back...so ill try and get a bit more that way...
Thanks for the help though guys...
So far admiral have been good....let's see when the cheque comes...


What damage has been done to the car, what parts are needed?

That settlement figure sounds reasonable (ish) on the low side. Typically you can buy back for 10% of the settlement figure, so £185 in your case.

So rather than look for a lump of turd, you ought to have money over after fixing it? smile


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