A scary (but fortunate) end to Z4 Ownership

[Anonymous]

Still arguing with my insurer, Admiral (not sure whether they're "premier" or "value") as I don't think their offer is a fair valuation of my car. Prepared to go to the ombudsman, so we'll see if it gets that far.

I'm not going to get £23k for it, but there's currently a 2010 35iS up for £20k that's done 12,000 miles more than mine... So how can their valuation of my three year younger car tally up?

Hopefully we'll get somewhere this week. Really not enjoying the 2002 1.6l Focus that is my interim vehicle

I don’t know how Admiral compare with respect to claims but the experience I have of them is not good.

One of my daughters was driving to work and had stopped in a queue of traffic when she was hit from behind by a driver insured with Admiral. Nasty accident, she had severe back and neck injuries, needed to be cut from the car, spent months in recovery etc.

You’d think the claim against the at fault driver would have been straightforward but Admiral used every trick it could devise to make the whole process onerous and very unpleasant. Took almost three years to settle and only after court papers had been served on them.

I know insurers have a duty to mitigate their losses but this lot made a bad experience totally horrendous and frustrating. Goodness knows how they treated their own insured as her car was written off also.

I’ll never insure with Admiral or any of their affiliates.

 

[Wildfire]

It's just a process. When my first Elise went up in a fire, I hjad just bought it and done about 500 miles. Elephant offered me less than the cheapest car on Autotrader and 40% less than what I had paid (less excess).

Did my research, sent over a load of photos of my car, then a load of example one around and above mine. Pointed out how they differed in spec. etc. Another offer and it wasn't good enough. I asked them to suggest a car off autotrader, they couldn't (as I had pretty much sent over the ones that they could choose). Third offer and I was happy, it was the car less my excess.

 

[Nanu]

Surely there must be some independent arbitration process where you can challenge some of these ridiculous offers?

 

[dk345]

Surely there must be some independent arbitration process where you can challenge some of these ridiculous offers?

If the claimant and the insurer can't reach a good conclusion that makes both happy then the case can be referred to the Financial Ombudsman and they make a final ruling that the insurance company must abide by if it's in the claimant's favour.

I feel that's the route I'll have to take. If for no other reason than I don't need a new car straight away and genuinely feel £19k is undervaluing my car.

 

[Nanu]

Hopefully if you let them know you intend going down that route they may up their offer. Good luck and keep us all informed of any progress.

Hopefully no one on here will ever need it but would be very helpful to know should we need to.

 

[ronk]

At least Dick Turpin had the decency to wear a mask !

 

[kmitchell]

Thanks for sharing! I've been upside down once before not much fun. Nice to see BMW's great safety features worked for you!!

 

[Tbone]

I think the offers they give you are based on crappy companies like 'we buy any car'

I remember once going to look at trading in my Mercedes for a Jaguar XE. the sales man tried to palm that one off on me, like I was just going to say yes to his offer that was 2k below the market value.

That company and similar companies have a lot to answer for

 

[dk345]

So, just to update this thread.

Received a phone call from the Insurance company this afternoon with a revised final settlement offer of £21,000 which I have obviously accepted. They also threw in an extra £250 by way of apology for stringing this out like they have.

So yeah. Happy enough ending, 3 months after my accident... Shame that it needed me to make a formal complaint but there we go.

Sadly I've also decided that the money will be going into a house purchase rather than a replacement sports car. Sensible hat firmly on.

 

[Mr Tidy]

So, just to update this thread.

Received a phone call from the Insurance company this afternoon with a revised final settlement offer of £21,000 which I have obviously accepted. They also threw in an extra £250 by way of apology for stringing this out like they have.

It sounds like you have got a decent outcome OP.

I spent over 30 years working in the General Insurance industry, and based on my experience getting another £250 as compensation for the time it has taken seems pretty reasonable to be fair!

Shame it isn't going into a car fund, but then we all know property tends to appreciate, whereas cars usually do the opposite so I can understand your decision - but early E85s aren't dear are they? :lol:

In relation to EssexZed's post, the issue with injury claims is you are not claiming against your own insurer who has a contractual duty to you, you are claiming against the insurer of the vehicle that caused the accident.

When you suffer a significant injury you get a medical report that says you may suffer from the injury for the rest of your life. And the insurer gets one that says you may not suffer from the injury for anything like as long as that!

So the insurer you are claiming from would rather wait a year or more to see if you are still suffering from it, because if you aren't the compensation will be much less, and this is magnified hugely for younger people (if you are 25 you may have to live with symptoms for 60 years, whereas if you're 65 you might only have to live with them for 20 years).

The insurer has a duty to its policyholders (and shareholders) to settle on the basis of "what is" rather than "what might be" and with a serious injury that can take some time to establish.

Mrs Tidy bought her 1st ever new car for her birthday in June 2003, a Mini One with some options ( ) but in November 2003 someone down our road pulled out of his drive right into it. :wkr: Enough of an impact for the O/S/F brake disc to get punched through the wheel!

The car got fixed really well in weeks, but her injury claim took months to settle - and I don't know how many new matresses and pillows! :lol: