Skoda Octavia - Insurance write off my car but value of car reduce

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Thu 1 Feb 2018 12:17
Skoda Octavia - Insurance write off my car but value of car reduce - Brettsza

So i bought a skoda octavia 2014 2L diesel elegance for 10.5k in sep 17 49k miles

Had accident and the car is written off now, insurance is paying me 8.5k so they have depreciated the car by 2k in 4 months?

I have challeneged there valuation and they came back with 8.6 and absolutely no more.

I went to loads of dealers and check online and I cant find any car with same spec for less than 10.5 still.

Is this fair or is the insurance company just paying me unreasonable amount. As per them i paid too much for the car.

Fault was not mine, i was rear ended.

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Thu 1 Feb 2018 12:28
Skoda Octavia - Insurance write off my car but value of car reduce - Gibbo_Wirral

I'm sure someone will come on and talk about GAP insurance (I only drive cheap cars so I don't know much about it).

But when someone ran into me back in 2010 and I was offered a low amount, I just sent copies of ten identical cars on sale from Autotrader and they automatically upped the amount to a mid range of the ten. I was expecting more of a fight to be honest.

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Thu 1 Feb 2018 12:35
Skoda Octavia - Insurance write off my car but value of car reduce - RichardW

If you were not at fault then you can expect to be put back in the same position as you were before the incident - not the trade in value, which is what they offered. Who is making the offer - your co or 3rd party's? Get adverts for similar cars, send them to the ins co with letter to back up claim for £10.5k. If they refuse then go to the ombudsman. Note if this if from your co, then tell them to get stuffed, and you want to claim the full amount of the 3rd Party.

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Thu 1 Feb 2018 12:45
Skoda Octavia - Insurance write off my car but value of car reduce - daveyjp

HJ has a car valuation tool - what is it valued at?

www.financial-ombudsman.org.uk/publications/techni...l

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Thu 1 Feb 2018 12:47
Skoda Octavia - Insurance write off my car but value of car reduce - Brettsza

Hi

I did not have gap insurance, this is my insurance company offering me this money, they said we have tried valuation on glass, parkers and one more i dont know which one, and this is the valuation that they can offer me at best. I spoke with them again and they have forwarded the case to supervisor to look into it but if i go anywhere that car is not available for 8.5k, may be the dealer will take it for that price but you cant buy it at that price anywhere. I have told them about some upgrades which makes the car almost impossible to find i have checked on lookers who i think are one of the biggest dealers.

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Thu 1 Feb 2018 18:19
Skoda Octavia - Insurance write off my car but value of car reduce - 72 dudes

As stated by others the £8600 is a trade valuation.

To reiterate, you need to get on Auto Trader and look up what it would cost you to buy, at Retail, a car of similar age, with the nearest spec/trim level/engine. Forward this to your insurance company stating they must put you back into an equivalent position to that before the accident happened.

No guarantee, but they may improve the offer.

The "upgrades" you mention will have very little effect on value for a 3 or 4 year old car, a couple of hundred maybe.

A quick look myself suggests £11k so you must have got the car at a good price originally.

Edited by 72 dudes on 01/02/2018 at 18:25

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Thu 1 Feb 2018 18:21
Skoda Octavia - Insurance write off my car but value of car reduce - Terry W

If similar spec vehicles are being advertised at about £10.5k a full replacement cost would reasonably be around £10.0k as most garages would take £500 off this sort of vehicle in negotiation.

It has always been the case that almost all extras specified have close to zero trade in value and unless explicity included in your policy, realistically you will not get any more cash for them

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Thu 1 Feb 2018 18:32
Skoda Octavia - Insurance write off my car but value of car reduce - Andrew-T

The insurers should be scouring your region for identical vehicles - make sure they aren't using prices from somewhere cheaper. My car (several years older) was just a write-off a year ago in a no-blame collision, and the third party's insurer made a very decent offer IMHO. I decided to have the car repaired and was given 65% of that value, which was roughly what I expected a part-ex would have fetched.

So it sounds to me as if your insurers are being ungenerous.

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Thu 1 Feb 2018 18:47
Skoda Octavia - Insurance write off my car but value of car reduce - Big John

How many miles have you done since?

On Autotrader there is an 14 Octavia Elegance DSG 2.0CR with 63k miles for £8,500 so your insurance company is not really going to exceed this sort of amount by much.

www.autotrader.co.uk/classified/advert/20180124303...1

You mentioned enhancements - did you declare these to your insurance company? Be careful otherwise you'll give them a reason not to pay out!

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Thu 1 Feb 2018 21:23
Skoda Octavia - Insurance write off my car but value of car reduce - badbusdriver

www.ebay.co.uk/itm/2014-64-Reg-Skoda-Octavia-2-0-T...a

www.ebay.co.uk/itm/2014-Skoda-Octavia-2-0-TDI-CR-E...Z

www.autotrader.co.uk/classified/advert/20171116131...2

www.autotrader.co.uk/classified/advert/20171206185...2

www.autotrader.co.uk/classified/advert/20180129320...4

www.autotrader.co.uk/classified/advert/20171113120...4

www.autotrader.co.uk/classified/advert/20180106249...4

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Thu 1 Feb 2018 22:40
Skoda Octavia - Insurance write off my car but value of car reduce - Big John

Yes, but insurance companies won't look for the most expensive version as an example they will look for the cheapest. You loose nothing by trying for a better price though

Edited by Big John on 01/02/2018 at 22:42

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Thu 1 Feb 2018 22:46
Skoda Octavia - Insurance write off my car but value of car reduce - Brettsza

my car has done 48500 miles when accident happened.

thanks for all the links even after going through so many there are not many below 10k mark and to be honest i am looking at below 50k mileage as my car was at that mileage i also had pan roof that is very rare in skodas only 2 cars with a pan roof are available. i even told them keep the money just get me a vehichle similar to mine and i will take it instead of any money. i have just spent few hours researching on autotrader as well and if they really dont give me 10k i will have to go for a higher mileage car than mine. i did get the car at good price as it was not advertised, i happened to go to a skoda showroom and they had only got that car back from someone few hours ago, it was not even cleaned from inside so i paid the deposit and picked the car up in a weeks time. car was actually 11k but they got a turnarond in a day n probably sold for a lesser margin. i cant drive 100 miles to get a car in my situation either so would have to buy it locally if possible.

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Fri 2 Feb 2018 07:49
Skoda Octavia - Insurance write off my car but value of car reduce - RT

As posted earlier, optional extras have little monetary value to second owners so have little effect on the price - just as the difference between 9,000 and 15,000 miles/year isn't very much.

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Wed 7 Feb 2018 13:06
Skoda Octavia - Insurance write off my car but value of car reduce - Brettsza

So just got a call from insurers and they are saying that the best valuation we can get for car was about 9.5k but they have to deduct for some sratches on the car before accident which is 300 and 100 pounds for valuing the car and 500 excess will be deducted on 8.5k value. Do i have to pay the excess if i was not at fault? Also are these costs justified to be paid by me as I am making the claim off the guy who rear ended me.

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Wed 7 Feb 2018 13:30
Skoda Octavia - Insurance write off my car but value of car reduce - galileo

So just got a call from insurers and they are saying that the best valuation we can get for car was about 9.5k but they have to deduct for some sratches on the car before accident which is 300 and 100 pounds for valuing the car and 500 excess will be deducted on 8.5k value. Do i have to pay the excess if i was not at fault? Also are these costs justified to be paid by me as I am making the claim off the guy who rear ended me.

If you are claiming from the third party, you should not have put in a claim to your insurer, simply reported the accident to them.

You have no policy with the third paty's insurance so can't have an excess to pay. A decent solicitor could have given you advice how to proceed.

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