Our X3 was stolen off our drive after burglars entered the property, grabbed the keys and sped away.

Our Insurer's Direct Line were very prompt in processing the claim however the 'Market Value' they offered was:

- £2.5K less than Parkers guide (Franchised Dealer)

-£1.6K less than Glass's guide (Retail asking price)

- £4K less than BMW Used Approved

for same age, mileage and spec of vehicle

Having spent 1 hr on the phone arguing my case, explaining the vehicle had full BMW Service History, was in mint condition and to purchase a like in kind vehicle, which i had found searching the whole BMW approved website, would cost me £10,995; the engineer from Direct Line simply commented that they feel they have given me a fair settlement price for the vehicle and if i'm not happy then will need to lodge a formal complaint.

Obviously i was fuming as i've had 9 years no claims with Direct Line, my house insurance is through them and have been a Royal Bank of Scotland customer for over 20Yrs (owners of Direct Line) i feel completely let down. The engineer kept referring to the fact they have seen many vehicles on autotrader much cheaper and suggested the BMW Dealer was charging too much for the vehicle. Whilst I appreciate you pay a premium from a main dealer the reason you do so is for peace of mind and thats why we purchased the car originally from a BMW dealer.

Can anyone provide any pearls of wisdom regarding how i should proceed gaining a fairer 'Market Value' for my stolen vehicle and stop companies like Direct Line simply giving the lowest settlement figure they can get away with in an attempt to close your claim.

I also found the following link useful -

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

Thanks

Mark