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      11-03-2017, 03:57 AM   #1
Vish8895
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Help? Dealing with Insurance Write Off

Hi All,

Two weeks ago my stunning 135i was stolen whilst I was at work.

Long story short the insurance are dealing with it as a total loss etc.

They have offered me 9000, explaining they use Glass Valuations etc and I then immediately refused, so they said they could give the top line valuation on Glass which was 9370. They claim that is the market value on a forecourt, according to glass.

My car was a dark grey 2008 135i M Sport manual with 64K miles. It had the following options; Red leather, Xenons, Bluetooth phone, Pro i-Drive and it had a genuine BMW Performance CF spoiler (brand new at 300 two weeks prior), brand new 1M style wheels (mint condition - 1 month old), it was also immacualte inside and out, having been detailed to within an inch of its life.

It also had FSH, BMW Comprehensive Warranty, a brand new HPFP in July (700 odd), and a new ABS/DSC pump in July (300 odd).

Looking at the current market, there isn't actually another one for sale with the same color combo and miles, so like-for-like is a no go. But even for one with the same age and milage, in a less favourbale color with less options, they are asking 13K at traders, and around 11K private.

I understand prices are inflated, but how can they actually expect me to replace it for 9370...

My question after all that is, what can I do to get them to cough up more?

I have been on the Financial Ombudsman Services website, and it clearly states insurers do not have to use current market adverts to assist with the valuation, due to them being over inflated, and cars have such varying conditions etc.

I have written them a 2 page letter stating all of the above, and sending them some examples of other listings anyway, but just feel a bit powerless at the moments
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      11-04-2017, 02:57 AM   #2
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I was in the same position a few years ago when my E46 330d was written off. It was a rare Estoril blue with black leather, manual box, MSport and they weren't interested in giving me more than Glass's valuation.
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      11-04-2017, 04:52 PM   #3
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My first E91 was written off. Aviva offered me a low price but as I'd only had it 10 months and I explained that it was AUC and I expected it's replacement to be the same. They increased the offer substantially on the spot. I then added the extras fitted from new, and they took the cost of the 2 most expensive options and added that to the total. I was satisfied and took the offer. From accident to cheque through the door - 16 days
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      11-05-2017, 12:59 PM   #4
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Quote:
Originally Posted by Vish8895 View Post

I have written them a 2 page letter stating all of the above, and sending them some examples of other listings anyway, but just feel a bit powerless at the moments
I think it varies alot depending on your insurer.

When my brand new Tesla was written off in June this year the third party insurer (Admiral) refused to offer anything more than invoice price, despite the fact due to currency changes/Tesla changing spec the there was more than a 10K gap between the invoice price and actual amount needed to get me back on the road in another Tesla.

My own insurance company (Directline) offered a new-for-old replacement but however only if exact same spec car was still available to order, which in my case it wasn't. Otherwise they would also just offer invoice price as stated in their terms-conditions. But after explaining my situation to the cost adjustor and how if I took just the invoice price I would not be able to get back in another Tesla thought no fault of my own, they took my case to head office and got authorisation to order my a brand new car in closets possible spec to my original car despite there been a 12K+ cost difference!!

If your unfortunately enough to be insured with Admiral I think your in for a tough fight, I know when I renew my insurance in future I will 100% go with a company that have a good reputation and pay a bit more than just for the cheapest renew cover cost.
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      11-06-2017, 03:51 AM   #5
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Thanks for all the responses.

I am in a bit of a stitch really.

I can go without if needs must, but it is really a PITA trying to co-ordinate my life and the misses' with just 1 car.

I think I am either going to have to battle them for weeks/months and try to get an extra grand, or fall into their trap of accepting a lower offer for the convenience of getting back in a car.

Just a shame that even though I am insured, I am being put down financially through an incident I was not involved with and had little to no control over. Essentially I am about 2K out of pocket because my insurance isn't good.
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      11-06-2017, 05:56 PM   #6
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Sorry to hear about your misfortune OP.

Bloody insurance. Makes you wonder why bother at all?
Oh yeah we are legally forced to deal with these jokers.

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      11-07-2017, 04:11 AM   #7
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Thanks AWSAWS

I took their shoddy offer in the end. They said they had provided their final offer and if needed, could give me a letter saying so to take to the Financial Ombudsman Service...


I really cba for all that and they know it, so long story short, money is in the bank and my dreams of a 400hp 135i are shattered
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      11-07-2017, 08:29 AM   #8
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Quote:
Originally Posted by Vish8895 View Post
Thanks AWSAWS

I took their shoddy offer in the end. They said they had provided their final offer and if needed, could give me a letter saying so to take to the Financial Ombudsman Service...


I really cba for all that and they know it, so long story short, money is in the bank and my dreams of a 400hp 135i are shattered
Well you've probably had enough with BMWs for the moment but I see some of the newer 140i, 240i setting some very good times at Santa Pod with quite basic upgrades. Like just a JB4. Definately worth considering if they are in your price range.

400HP is very easy to attain on any x35i or x40i. Old and new x35i. A remap and down pipes is probably all that's required. Meth injection to make it a bit easier.
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      11-07-2017, 03:07 PM   #9
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Maybe look into agreed value car insurance next time, then again lightning doesn't strike twice
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      11-08-2017, 06:42 AM   #10
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Quote:
Originally Posted by Chappers 71 View Post
Maybe look into agreed value car insurance next time, then again lightning doesn't strike twice
I think when I get my next valuable car that will be what I do!

Going to view a 56 plate 350z tonight, only worth about 6K so going to invest in some psychical security and hope for the best.
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      11-08-2017, 05:51 PM   #11
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Quote:
Originally Posted by Chappers 71 View Post
Maybe look into agreed value car insurance next time, then again lightning doesn't strike twice
Tell that to this guy

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      11-08-2017, 06:27 PM   #12
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Originally Posted by tadaska View Post
Tell that to this guy

Thats shocking
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      11-14-2017, 01:56 PM   #13
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Sorry to hear this mate, i feel your pain.

You should maybe consider gap insurance next time, it shouldn't cost more then 200-300 for a 5 year cover that pays out the original invoice amount should the worst happen.

Good luck finding a replacement!
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      11-14-2017, 04:32 PM   #14
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Quote:
Originally Posted by The0pportunist View Post
Sorry to hear this mate, i feel your pain.

You should maybe consider gap insurance next time, it shouldn't cost more then 200-300 for a 5 year cover that pays out the original invoice amount should the worst happen.

Good luck finding a replacement!
Thanks mate.

And I thought GAP insurance only covered cars that had finance against them? Didn't think you could GAP insure a private purchase cash sale car?

Otherwise people would be writing receipts out for thousands more than they paid, or selling cars to friends and doing the same thing, to get a few K out the providers?
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      11-15-2017, 11:50 AM   #15
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Quote:
Originally Posted by Vish8895 View Post
Thanks mate.

And I thought GAP insurance only covered cars that had finance against them? Didn't think you could GAP insure a private purchase cash sale car?

Otherwise people would be writing receipts out for thousands more than they paid, or selling cars to friends and doing the same thing, to get a few K out the providers?
I've never had to claim on GAP - touch wood - so i'm not 100% sure but..

I think the dealer you buy from needs to be vat registered, even if no vat charged on the purchase. This probably stops the whole creating false invoices malarkey. Mine is a cash purchase from bmw dealer so i'm hoping the way the car was funded does not make a difference.

If this is not the case i've been grossly mis-sold GAP
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      11-16-2017, 05:35 AM   #16
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Quote:
Originally Posted by The0pportunist View Post
I've never had to claim on GAP - touch wood - so i'm not 100% sure but..

I think the dealer you buy from needs to be vat registered, even if no vat charged on the purchase. This probably stops the whole creating false invoices malarkey. Mine is a cash purchase from bmw dealer so i'm hoping the way the car was funded does not make a difference.

If this is not the case i've been grossly mis-sold GAP
Ah that makes more sense about it having to be bought from a VAT registered dealer.

I will look into this if I decide to get myself something something more up market again in the future.

Thanks
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      11-30-2017, 03:42 PM   #17
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Sorry, late to the party but when i last claimed on insurance (admittedly over 20 years ago) i sent copies of similar cars from autotrader. It was as 1987 E30 325i with only 40k (this was 1994) on the clock in black. It was a stunning car. And i paid a lot over the book price for it. But i got more than i paid for it back because i showed the insurance company that it wasn't bog standard easily available car. Worth a try in future. Not saying that it will work these days.

Sorry to hear about your loss Vish. Hope the Z experience is a good one.
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      12-01-2017, 05:40 AM   #18
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Originally Posted by misterS3 View Post
Sorry, late to the party but when i last claimed on insurance (admittedly over 20 years ago) i sent copies of similar cars from autotrader. It was as 1987 E30 325i with only 40k (this was 1994) on the clock in black. It was a stunning car. And i paid a lot over the book price for it. But i got more than i paid for it back because i showed the insurance company that it wasn't bog standard easily available car. Worth a try in future. Not saying that it will work these days.

Sorry to hear about your loss Vish. Hope the Z experience is a good one.
Hi mate,

Thanks for the input, seems you did very well!

Sadly the insurance companies are not regulated to use evidence of current market listings, as explained by the financial ombudsman service on their website.

They are only considered with cars that are rare (limited production runs) or classics.

Annoyingly, at the time of the theft, there wasn't a single stock replacemnet on any of the top 4 common sites (Auto Trader, eBay, GumTree, Piston Heads). So it in my opinion was rare as it was irreplaceable and still is at this time. (One that was an M Sport, Grey, red leather, xenons, manual, less than 70K miles. #And that's not taking into account the 1M wheels, carbon performance spoiler, privacy glass, i-drive and pro nav, brand new HPFP and ABS/DSC Pump).

The glass guide is all they were interesting. Which is a pure joke because the Glass guide says the car in mint condition with FSH should be asking for 93xx on a used car sales forecourt.

When in realism, there were lower spec cars on BMW UK for 15K, and lower spec cars with the same age/mileage/sh on Auto Trader around 13K.

I said who on earth can haggle nearly 4k/30% off a used car, its an utter joke.

They do not provide market value or anything near it, but rather Glass value.

The other annoying thing is us members of the public are not privy to these valuations, and instead have to take the insurance's word as gospel.

It's all very shady in my opinion.
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      12-01-2017, 02:10 PM   #19
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Vish, have you brought another car yet?
I keep looking out for a replacement for my old 35i but all the advertised cars are stupidly expensive. I paid 11500 for my 56 plate e92 335i SE with 52k from a non franchised dealer back in July 2012. Funny thing is when I advertised it for sale on here I didn't get a sniff not even with 4500 asking price
Maybe if you see a car you like offer them 4K less than they are asking, worse that can happen is they say no
When I sold my 540i I let it go for 2k under my advertised price.
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Last edited by Chappers 71; 12-01-2017 at 02:28 PM.
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      12-02-2017, 12:17 PM   #20
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Sorry to hear this mate.

You gave up too easy though. You rolled over and they got what they wanted, the cheap payout!

First thing you do is show them Autotrader. Glass's guide is just that, a guide and is about as valid as "my mate dave says".

9.5k isn't the end of the world but you'd have got 11 out of them based on what is on autotrader by hassling them.

Who was the insurer btw?
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      12-04-2017, 06:46 AM   #21
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9300 sounds fair for a 10 year old car. My 10 year old 325i Glasses at 6k
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      12-04-2017, 07:18 AM   #22
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Quote:
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Who was the insurer btw?
+1 name & shame the bastards
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