Ford Mondeo III (2000 - 2007) - Fair Insurance Settlement

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Wed 5 Nov 2008 23:35
Fair Insurance Settlement - Bobbins
Just written off my 53 plate Mondeo 115 bhp TDCI Graphite Estate (basically an LX with alloys, 6 CD changer and all e/w). One owner (me - bought the car as a pre-reg), VGC, FFSH and 51k miles.

I've been offered £4,250 as settlement. For those in the know, is this a fair settlement?

I've been through autotrader, but there's very little of similar spec and mileage out there. Also, I understand Parkers prices are only rough.

Insurer has to re-instate me to the same position as before the loss. Therefore, I have to source a similar car privately for £4,250 they've offered.

Anyone in the trade or otherwise knowlegable, know if this is an decent offer?

Thanks in advance.



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Wed 5 Nov 2008 23:45
Fair Insurance Settlement - imb
Try webuyanycar.co.uk, theaa.com, parkers, whatcar etc to get a variety of trade valuation and take an average. I don't know but I presume insurance company pay outs are based on trade values?
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Thu 6 Nov 2008 01:25
Fair Insurance Settlement - stan10
My Nov. trade guide doesn't list a Graphite estate, only a 5dr hatch, which prob means that Ford didn't sell a significant number of estates, (and that's why you can't find an equivalent). Graphite spec is v. nearly same as a Zetec, without the sports suspension, so you could say half way between LX and Zetec for value . You don't say which year, but a 2004 '53 plate with 51k miles ( spot-on average mileage ! ) Graphite hatch shows as £2650 trade, and £4400 (main dealer) retail. A 2004 '53 plate Zetec estate with 51K miles shows as £3575 trade, and £5150 (main dealer) retail, a 2004 '53 LX estate shows £3325 trade, and £4900 (main dealer) retail. Knock about £175-£200 off for a 2003 '53 plate. Hope this helps you decide.
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Thu 6 Nov 2008 07:16
Fair Insurance Settlement - Falkirk Bairn
Never take the Ins Co's first offer - Golden Rule

Search forecourts for Retail Cost of replacement car (not trade price) - point out your car was 1 owner (in effect), never raced or rallied, no previous accidents, "part of the family"..........plus any other reasons you can find.

Bet you can get £500 more if you try hard.
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Thu 6 Nov 2008 08:18
Fair Insurance Settlement - Blue {P}
The reason that the trade guide won't list a 53 reg Graphite is because it was discontinued by then. The Graphite was a pre-facelift special (facelift was on an 03 reg, most Graphite are 52 reg) hence the all electric windows, this one appears to have been sat around for a little too long, the clue is the fact that it was bought pre-registered.

I think it would probably value somewhere between an LX and a Zetec.

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Thu 6 Nov 2008 09:15
Fair Insurance Settlement - Bobbins
Thanks for the info so far. The car was registered in Nov 2003.

Nobody has stuck there neck out to say it's a good/bad settlement.

Anyone other opinions?
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Thu 6 Nov 2008 09:45
Fair Insurance Settlement - Carse
Bobbins,

If you tell me the reg I can tell you exactly when the car was manufactured to give you the full picture

Carse
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Thu 6 Nov 2008 09:59
Fair Insurance Settlement - jbif
Just written off my 53 plate Mondeo

1. Your fault or third-party 100% to blame?

I've been offered £4,250 as settlement.

2. By your Insurance Co or the third-party's?

Insurer has to re-instate me to the same position as before the loss.

3. If your own Insurance Co. , then is that what your contract with them says?
4. If third-party Ins. Co., then ask them how they arrived at the figure. If you do not think it puts you in the same position as before, refuse the offer and sue them.

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