Have you had low-ball insurance settlement offer? Independent needs info

[Mulcher]

If You Have Been Offered Less Than the Market Price For An Insurance Write-Off, The Independent Would Like To Hear From You

The Independent newspaper is about to run a story about motor insurance. They have learned from the Ombudsman that the number of people reporting being offered well below the market value in settlement of write-off claims has spiked.

They want to hear from anyone who has suffered this.

If that's you, please contact journalist Barney Davis direct (the story could only be a week away):

[email protected]

 

[Popell]

I can't respond to the journalist as my experience has been different(and was a while ago)
I crashed my first bike some time in the second year of ownership. Insured it for what I paid for it in the Nov, upon renewal I assumed it had depreciated so insured it for a little less(possibly their estimate).
Crashed the bike in the middle of the riding season the following year. Ins advised it was a write off and very quickly offered the amount it was insured for less the excess.
Looking around, it was clear that the then current price of a replacement was about the same as the price I'd originally paid for the bike. I told ins co I could not buy a replacement with their offer.
Chap said 'he 'could not authorise a payout over the insured value - so I asked "who could?"
20 mins later a chap called me and agreed that my bike had been worth more pre accident and said a cheque would be sent out the following day for the full value.
Think I did alright (they didn't actually subtract the excess either...)

I do however object to the seemingly across the board 40% increase in bike car home ins. this year...

(yes I see the irony of the above but it was nearly 20 years ago so unlikely for one to be a consequence of the other)

 

[Santa-2512]

"How much is the vehicle worth" .. Its worth what you paid..

Yet payout is always market value, which is way less

Sums it up really

 

[Wapping]

"How much is the vehicle worth" .. Its worth what you paid..

Yet payout is always market value, which is way less

Sums it up really

I buy a bike advertised on here for £10,000 a figure that is £2000 over what it is worth and what it would legitimately cost me to replace it.

I then write it off the next day. Does my insurer pay me:

A. Ten grand

B. Eight grand

If A, we have just hit on a cunning money laundering plan.

 

[Wapping]

I buy a bike advertised on here for £10,000 a figure that is £2000 over what it is worth and what it would legitimately cost me to replace it.

I then write it off the next day. Does my insurer pay me:

A. Ten grand

B. Eight grand

If A, we have just hit on a cunning money laundering plan.

Turn it around, too.

Pretend that you screwed the owner down from £10,000 but not to £8,000 (it’s true worth) but to six thousand.

Would you be happy, when faced with a legitimate cost of £8,000 to replace it, the insurer said…. “Mate, you only paid six grand for it”?

 

[Popell]

Turn it around, too.

Pretend that you screwed the owner down from £10,000 but not to £8,000 (it’s true worth) but to six thousand.

Would you be happy, when faced with a legitimate cost of £8,000 to replace it, the insurer said…. “Mate, you only paid six grand for it”?

Son rolled his Yaris(first car and insured in his name), insurance kept asking what the purchase price was (3.3k), told him to say it was a gift and he didn't know. The fact that I got it for a steal is nothing to do with the in co
Eventually paid out market value (5.8k), without too much haggling - simply demonstrated that, for this model of car, that was the market price