Author Topic: Insurance Valuation (Read 5887 times)

guest818 · « **on:** May 03, 2009, 05:02:06 PM »

This is my first post so here goes.

I had my Jazz stolen in London last week:
http://clubjazz.org/forum/general-honda-discussion/stolen-cars/msg4304/#msg4304

What I am particularly worried about is the valuation that the insurance company will come up with if the car is not found.

The car has 8000 miles on the clock and is in showroom condition.

Does anyone have any thoughts on the value I should be offered?

Regards

Dave

bill888 · « **Reply #1 on:** May 03, 2009, 08:43:20 PM »

Sorry to hear your Jazz was stolen.

Unfortunately, most insurers will only offer market/trade value. They are not known for being generous.

Could be looking around £6.5k (perhaps less) on a 57 plate 1.4SE manual with 8k miles given the current state of the used car market.

I believe this will be their first 'offer', although they won't state this fact.

Through lengthy negotiation, you may be able to get them to raise their offer.

Don't quote me but I had been told (may be a relative who works for an insurer) that some insurers may be able to 'help' and locate a replacement vehicle of similar age/condition on behalf of the policy holder through their motor trade contacts. Policy holder then only pays trade value for the replacement vehicle through the insurer's contacts. ie. cut out the middlemen.

RichardA · « **Reply #2 on:** May 04, 2009, 01:29:53 PM »

Sorry to hear about your Jazz.

I take it they got pass the immobiliser?

guest818 · « **Reply #3 on:** May 05, 2009, 06:51:22 AM »

Thanks for replies.

We were up in London as our son had lost his little boy to cot death two days before.
after spending first two nights with him & his partner we went to stay at our other sons. We were obviously shattered and therefore slept heavier than we would normally do.
My sons flat was broken into and my car keys were taken.
They could then obviously just press the remote and the appropriate car "lights up".
An unexpected disadvantage of remote locking!!!

RichardA · « **Reply #4 on:** May 05, 2009, 08:25:33 PM »

Obviously not something you need at such a time.

Breaking into houses and taking the keys is becoming a common occurrence as car security has got more advanced.