So, yet another pick up thread but this one being slightly different to the usual which one is best etc...
Last week I had the unfortunate experience of being rear ended in my 17 plate Hilux which has now been deemed and insurance write off, with the liability being fully accepted by the other driver and confirmed by my insurance co.
My insurers have been swift in their response and have been on the phone with a settlement "offer" made before the truck was collected and even inspected (pictures were provided).
Here's my beef- the settlement offer is much lower than I was expecting and the terms of the insurance contract state "to be valued at current market value"
The offer has been based on an auto trader search, turning up two trucks, one in Leeds (I'm Somerset based) and one more locally which is advertised as coming soon with no pictures or spec. My own search shows 8 trucks of similar spec and much more local which are circa 4-5K north of the insurer's offer (17K V 21/22K)
How do I argue my case back to them about the value or am I just misunderstanding the valuation process and have to take the hit on the value? I was always given to understand that the purpose of insurance was to "reset" you back to where you were pre accident wise.
Thoughts appreciated!
Last week I had the unfortunate experience of being rear ended in my 17 plate Hilux which has now been deemed and insurance write off, with the liability being fully accepted by the other driver and confirmed by my insurance co.
My insurers have been swift in their response and have been on the phone with a settlement "offer" made before the truck was collected and even inspected (pictures were provided).
Here's my beef- the settlement offer is much lower than I was expecting and the terms of the insurance contract state "to be valued at current market value"
The offer has been based on an auto trader search, turning up two trucks, one in Leeds (I'm Somerset based) and one more locally which is advertised as coming soon with no pictures or spec. My own search shows 8 trucks of similar spec and much more local which are circa 4-5K north of the insurer's offer (17K V 21/22K)
How do I argue my case back to them about the value or am I just misunderstanding the valuation process and have to take the hit on the value? I was always given to understand that the purpose of insurance was to "reset" you back to where you were pre accident wise.
Thoughts appreciated!