accident damage split.

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wizard 1066
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accident damage split.

Post by wizard 1066 » Mon Jan 06, 2014 10:51 pm

As members for the past 12 year who have had a RHD split, we have now decided to post up a recent accident involving a rear end shunt.
Last month while on the school run we waited for a T4 to turn right into a side road when we were read ended at 40MPH by a ford C max, crushing the rear and pushing the van into the T4 in front, thankfully everyone walked away with just minor injuries.
Now dealing with the insurance has commenced, we have had the 3dr party assessor give us news that it's a write off as it would cost more than £8.000 plus to repair, then offering us £1.600 for it.
It's got an agreed value with cherished vehicles KGM policy for £10.000 so why do they offer us such a low offer when they already know how much it's worth.
Any advice or posts to help us out would be appreciated.
We will post up some pictures when we work out how to do it.
Last edited by wizard 1066 on Mon Mar 06, 2017 11:16 am, edited 1 time in total.


ted698
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Re: accident damage split.

Post by ted698 » Mon Jan 06, 2014 11:03 pm

So they reckon a RHD split is worth £1600 :lol: :lol: :lol:

Worth more than that in parts!... Without wishing to sound too sadistic... Any pics? As that would help with a off the cuff valuation 8)

Sorry for your loss though.... Must be truly gutting :(

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shelltoes
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Re: accident damage split.

Post by shelltoes » Mon Jan 06, 2014 11:13 pm

If you have it agreed value, then there is no argument surely?
If it was even a half nice one £10k is under-insuring it anyway!
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Marvelwear
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Re: accident damage split.

Post by Marvelwear » Mon Jan 06, 2014 11:25 pm

Thats silly, you need to inform them of the current value of the splitscreen market, do you have salvage?
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beetleben
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Re: accident damage split.

Post by beetleben » Mon Jan 06, 2014 11:33 pm

Yes make sure you ask to buy it back. Gutted for you though

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CCSICeman
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Re: accident damage split.

Post by CCSICeman » Mon Jan 06, 2014 11:52 pm

Agreed-value policies

Agreed-value policies are not common. They usually relate to valuable or "classic" vehicles where the consumer has an investment to protect and the vehicle's value is unlikely to depreciate substantially – if at all. The insurer will have assessed the premium on the basis of the vehicle's agreed value and is obliged to pay that amount if the vehicle is "written off".

Confusion can arise where a consumer believes they have an “agreed-value” policy because the proposal form asked them to state the vehicle’s value and/or because the policy schedule shows a value for the vehicle (usually based on the value in the proposal form). In these cases, the policy will usually just be an ordinary "market value" policy. We understand insurers ask about a vehicle’s value for other reasons (for example, to help detect fraud) – but it is not surprising that consumers sometimes think the information is relevant to the claim.

Is my value guaranteed in the event of a claim?
Good question. In theory, yes, and this will be the case in the majority of cases. After all, to give it its technical definition, “agreed value is an insurance contract under which the insurer agrees to pay the insured a stated amount in the event of the total loss of the property insured without any adjustment for depreciation or appreciation”.
However, in the event of a total loss – or possible total loss – insurers will want to inspect the vehicle to ensure that its condition at the time of the accident remains in keeping with that at the time of its agreed valuation.
If the car has clearly deteriorated (other than its obvious damage!) then the insurer is likely to offer the current market value.

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CCSICeman
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Re: accident damage split.

Post by CCSICeman » Mon Jan 06, 2014 11:58 pm

This is why it is good to take recent pics of your bus. From all sides,inside and the engine bay.
Insurance companies can't do much against dated pictures showing the vehicles condition.
I know people on here criticise Adrian flux, but they ask for six pictures and send them back stamped to show agreed value on that date.
Some companies just accept your value over the phone and these are the ones where you will need to prove the value.
Club valuation that rh ask for is also good as they can't argue with the value there.

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beetleben
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Re: accident damage split.

Post by beetleben » Tue Jan 07, 2014 12:01 am

Good answer. So question- if you have an agreed value did someone, i.e club or professional restorer value it? And did you have to provide photographic evidence of the condition of the bus for the insurance company?


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Re: accident damage split.

Post by BlastingDiePast » Tue Jan 07, 2014 6:40 am

Where is the vehicle now ? Don't let them take it away and if they have go get it back ASAP.
I lost a beetle this way to a insurance company.

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orb
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Re: accident damage split.

Post by orb » Tue Jan 07, 2014 9:24 am

beetleben wrote:Good answer. So question- if you have an agreed value did someone, i.e club or professional restorer value it? And did you have to provide photographic evidence of the condition of the bus for the insurance company?
Flux ask for 6 pictures and that's it, I also supplied various ebay/SSVC/Samba links to ads with similar buses on to demonstrate their value and you need to fill out a detailed description of all the modifications done (that took a while!!!).
They gave me an agreed value of 50 no questions asked but did stipulate that it was garaged overnight and had to have a tracker.

I'd be gutted of I'd gone through all that thinking I was safe and then they offered less that the agreed value, surely that's not right.

Sorry to hear of your accident, hope you get it all sorted.

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maddison
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Re: accident damage split.

Post by maddison » Tue Jan 07, 2014 11:16 am

1st things 1st


get YOUR bus back !!!!!
The bus belongs to YOU, and you are TOTALLY entitled to take back YOUR property while negotiations take place over the insurance claim


get YOUR bus back !!!!

(in my experience, they have already probably shifted it to some dodgy breaker / storage facility...probably a LONG way from you....but hire a trailer, speak to friends, do what ever it takes to get it back ASAP)

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Re: accident damage split.

Post by e m p i » Tue Jan 07, 2014 10:49 pm

First off, sorry your bus has been trashed.

As said above, get the bus back ASAP.
Do you have the agreed value certificated? I have a document from my insurance company which states that they have examined the pictures I sent them along with the list of modifications and that in the current market it is valued at xxxxx
I had a bay window which I had on the same type of policy a few years ago with the same certificated valuation. It got shunted and the first thing I did was show the assessor the certificate and tell him that if he was going to write it off don't bother offering less than the 5 grand it was valued at as he'd be wasting his and my time. They paid the 5 grand.
On another note, I think you may have seriously undervalued your bus. You're looking at 12-13k for the lower end of the market for an on the road mot'd bus that's a bit of a s****er.
Stick to your guns and don't let them bully you into thinking you have to take less.
Or maybe they meant 16,000?

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wizard 1066
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Re: accident damage split.

Post by wizard 1066 » Wed Jan 08, 2014 7:03 pm

We got the recovery company to drop of the bus at our home as we wanted to keep is safe, the 3rd party insurance company has assessed the bus and decided it's uneconomical to repair, quoted above £8.000 in parts and labour in his opinion.
Our insurance KGM sent their assessor out to see what the damage was, he checked it over more looking at everything, even asked about cost of repair parts/panels as he is into classic MGs, said that it would probably be expensive to repair by a VW restorer as he has dealt with a few of these types before, suggested we keep the bus and look for parts our selfs and do the repairs when possible.
We are still waiting for a response from our insurance company.


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Re: accident damage split.

Post by spit nolan » Wed Jan 08, 2014 7:48 pm

8k too high a price to repair a split?? That assessor should find a new job.

At 10k for a on the road RHD bus, you are seriously undervaluing your bus, regardless of condition.
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Re: accident damage split.

Post by vwsplitbus » Wed Jan 08, 2014 9:04 pm

Can you see why it is so important to get an up to date agreed insurance valuation on your bus?

Protect your pride and joy should the worst happen.

You need to speak with the insurance company regarding your bus value. Supply them with evidence of similar models and their values. Market value is way way more than they are offering you.

Please contact me if you require any help.

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