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Randy_Baton

write off value

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No I haven't written my car off yet :drive1

 

My insurance renewal is coming up. I'm with AF and have been for a few years, my premium goes up ~£40 each year and its now getting close to £700. The main reason for me going through AF is for the Agreed Valuation amount, mines set to £7k at the moment but they love lowering each lower after I've renewed...

 

If I go through a standard insurance quote they value my car at £2.5k private £3.5k dealer and its normally around a £350 premium.  On that basis I've always thought paying the ~£300 higher premium to AF is worth it as I'd get ~£4k more in the case of a write off.

 

Having only ever written my moms car off 20 years ago I've no experience of actually claiming. So was wondering if anyone has any experience of claiming and what value they got for their car. I can't find any 350z for sale for much under £4k private or dealer.

 

One other point, I can't seem to get any quotes to come up through the standard insurers (admiral etc.) is there something going on in the insurance world at the moment that is restricting access to insurance? I tried removing all mods and also just reusing the same quote as last year and go compare only brought back about 4 options. I'm going to ring Admiral up later to see if they can see whats up with my application. Nothings change year on year apart from 1 year etc NCB. I did do my first speed awareness course, but my license is clean.

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For these cars its always best to ring a few specialist brokers like Adrian Flux, Chris Knott, Reis, Sky, Greenlight Brentarce etc. 

 

If a vehicle is sadly stolen or written off, the insurance company will always initially low ball offer you in pay out however if you can prove pre incident condition and examples of similar vehicles recently or currently for sale then they can take that value into consideration. I had to do this with a past claim on a vehicle and got what I wanted, bought the car back at salvage value 10% and sold it as it was for nearly as much again. 

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I normally do go with the specialists but I was tempted last year by basically halving my premium was a non specialist, (but forgoing the agreed value) however this year they all the non specialists seem to have disappeared.

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Admiral will load for the speed awareness course. As far as I’m aware they’re still the only group to do so, just so you’re aware.

 

As for low ball valuations, that depends on the underwriters - some are better than others and start off with a reasonable offer, others are under pressure to minimise costs and low ball. You are not obligated to accept any offer made by the insurance company however and can negotiate - if you’re realistic with your own valuation, it shouldn’t be difficult to demonstrate that value to the insurance company.

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Sounds like I'll probably move away from AF, 'IF' I can figure out why I can't get insurance via non specialists.

 

I've not added the speed awareness course to my quotes, it just asks if I have had any  

Quote

motoring offences, including fixed penalties, convictions, disqualifications, or any pending prosecutions .  nclude all offence codes that appear on the paper counterpart of the licence or have expired and have been removed but are still within the last 5 years. For Northern Ireland, you may need to use the nearest UK equivalent.

Speed Awareness doesn't fall under any of that does it and there is no where else for me to put it? and according to google there is no way for insurance companies to find out that I've been on one.

 

Edited by Randy_Baton

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No, but Admiral specifically ask. It’s not something I would declare unless specifically asked about it though.

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Very strange that you can't get many quotes on comparison sites even with a clean license and no mods. Whenever I do a quote (with bodykit, wheels, air filter, exhaust & tinted windows declared) I get loads. 

 

Is your zed an import? 

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6 hours ago, Randy_Baton said:

No I haven't written my car off yet :drive1

 

My insurance renewal is coming up. I'm with AF and have been for a few years, my premium goes up ~£40 each year and its now getting close to £700. The main reason for me going through AF is for the Agreed Valuation amount, mines set to £7k at the moment but they love lowering each lower after I've renewed...

 

If I go through a standard insurance quote they value my car at £2.5k private £3.5k dealer and its normally around a £350 premium.  On that basis I've always thought paying the ~£300 higher premium to AF is worth it as I'd get ~£4k more in the case of a write off.

 

Having only ever written my moms car off 20 years ago I've no experience of actually claiming. So was wondering if anyone has any experience of claiming and what value they got for their car. I can't find any 350z for sale for much under £4k private or dealer.

 

One other point, I can't seem to get any quotes to come up through the standard insurers (admiral etc.) is there something going on in the insurance world at the moment that is restricting access to insurance? I tried removing all mods and also just reusing the same quote as last year and go compare only brought back about 4 options. I'm going to ring Admiral up later to see if they can see whats up with my application. Nothings change year on year apart from 1 year etc NCB. I did do my first speed awareness course, but my license is clean.

I sometimes don't get quotes from Admiral on certain comparison sites for some reason. Try confused.com/comparethemarket if you haven't already as I can normally get quotes from the Admiral group (admiral, bell etc) on those sites

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Rang up Admiral and they couldn't tell me why it wasn't working online. but I've got a quote of £301 with Admiral vs £650 with AF. obviously would need to check all the small print to compare but my quandary is £300 per year vs ~£2k if I ever write it off so a ~7 year break even window.  I've had 8 years behind the wheel and one write off 4 months after passing my test... Touching all the wood right now. B) ;) 

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Does the AF policy actually cover mods? Check the fine print on Admiral, whilst they load the premium they do restrict pay outs for non-standard parts and they tend to be unrealisticly limited.

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I have an agreed value policy with AF, I send them photos of my car and a list of all the mods and work I've had done and they come back with a value for my car. I've assumed they won't haggle too much, if at all on that value should i write it off.  The agreed value adds £50 to the premium.

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I think i figured out what the issue with my initial quote was, it was my VPN. I turned it off today and now I getting more quotes through, including admiral at £280.

 

I use PIA as a VPN, its a popular one, which i think also makes it popular with criminals. I've noticed random oddities like this before where websites don't play nice with me.

 

People who use VPNs are notoriously bad drivers :secret: :lol:

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Did someone say Admiral?

 

... Brace yourself! (think... Mr Bean to the kid in the ride) 

 

I wouldn't touch admiral with a barge pole!

 

I had a non fault accident (driver failed to give way at a roundabout). They "fixed" my car, a week later I had a blowout and both NEW rear tyres replaced two weeks before the accident. They were now shredded on the inside edge and the tracking was noticeably out of alignment and pulling left quite badly.

 

To cut a long story short it turns out out some of the billed repair jobs (including tracking etc) were not actually completed and the tyres were (in my opinion) worn and damaged as a result.. 

 

They turned around and said 'Erm ok get it fixed and we will pay for the stuff you should have had done and was billed for'... So I'm MY OWN TIME I had to go get my car sorted, I had to buy new tyres out of my own pocket too as they refused to recognise the relationship (even though their own damage inspection report all tyres were good condition on arrival). 

 

Then... There was extra labour to repair and loosen the tracking bolts which some were sized - guess that they refused to pay for that element as well. (which is like saying if it had been a broken shock  they would have paid for the shock but none of the work to get to it!) 

 

It went all the way to the FCA and turns out that when I called I was offered a type of claim process.. (from here on you can suggest the following is my fault) because the other driver was to blame and has admitted fault they could process the entire claim on their insurance rather than mine so wouldn't even need to pay the excess... but according to the FCA, what I did by agreeing to that was I relieved myself of any relationship with the accident entirely (and therefore did not meet the requirements for the FCA to even open an investigation) - admiral did pay £50 for the inconvenience and recognition that they did not do their due diligence in checking the "repairs" by their 3rd party so admitted they didnt fix it! 

 

Putting the issues with the company aside and the fact I can't complain...

 

The point is, they put stuff on my 'repair invoice' that they did not do... They cut corners (they lied to me saying it was done, then admitted it hadn't) I believe that caused further damage to my car and could (in extreme circumstances) have killed my partner who was driving down a county road when the tyre went, I'm probably about £700 put of pocket putting my own car right after they returned it to me "fixed". 

 

Make your own mind up as everyone has different experiences, but personally will try to stop every £1 I can going their way. They will never get another penny off me, in fact they couldn't give it to me - Utter Asshats. 

 

 

I hear you ask "why not go to your own repair shop?"

 

This was my first ever accident so have learned a lot - I trusted the "system" and paid the price...

IMO They conned me into having a "lifetime" warranty with the repairs via their network which felt like a good deal on my daily (not the Zed), then in the next sentence offered up a policy "solution" that then took that away from me when I waived my relationship with the accident, opening the door allowing them to almost do as little as possible. 

 

End of rant :)

 

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I very nearly went with Admiral but there were a few others around the same price. It was 343 inc. breakdown, legal etc. But there was £25 cashback through quidco and also a £20 halfords voucher through Confused. So maybe call it 300-345.

 

Rang up A flux and they brought my quote down from 680 to 608 (10%). this included £52 agreed value @ £7k an actual like for like would have been 345 vs 550.

 

£200 premium to be with a better insurer

or

£250 to be with a better insurer and to get an extra £3-4k if I ever do write it off. 

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5 hours ago, Randy_Baton said:

I very nearly went with Admiral but there were a few others around the same price. It was 343 inc. breakdown, legal etc. But there was £25 cashback through quidco and also a £20 halfords voucher through Confused. So maybe call it 300-345.

 

Rang up A flux and they brought my quote down from 680 to 608 (10%). this included £52 agreed value @ £7k an actual like for like would have been 345 vs 550.

 

£200 premium to be with a better insurer

or

£250 to be with a better insurer and to get an extra £3-4k if I ever do write it off. 

Ive only skim read this thread, but I wouldn't dream of paying an extra £250 on the off chance you might write the car off.  There's no 'break even point' as you might never write another car off at which point you've thrown away £250 a month for the next 40 years of your life (£120k!) 

 

If you wrote the car off and were a few K out of pocket, just slum it in a cheap car for a few months until you've saved up enough to cover the difference... thats better than overpaying for insurance upfront for something that odds say will never actually happen.  (statistically if you've written one off, does it make you more or less likely to write off another... i'm not sure :lol:)

 

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On 04/09/2020 at 16:35, ilogikal1 said:

Does the AF policy actually cover mods? Check the fine print on Admiral, whilst they load the premium they do restrict pay outs for non-standard parts and they tend to be unrealisticly limited.

Hi.

Just to let you know that are modified car insurance schemes cover modifications on a like-for-like basis.

Regards,

Dan.

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25 minutes ago, DAN@ADRIAN FLUX said:

Hi.

Just to let you know that are modified car insurance schemes cover modifications on a like-for-like basis.

Regards,

Dan.

our

 

 

 

 

 

;)

 

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18 hours ago, marzman said:

 There's no 'break even point' as you might never write another car off at which point you've thrown away £250 a month

 

Its £250 per year not month and some of that premium is also not have to deal with firms like admiral if anything does go wrong, so there is a piece of mind benefit too. I'm almost certainly going to be out of the petrol/performance car game in a year or 2 and i'll be leased electric though mt work,so its short term risk.

 

There absolutely is a break even point, if i don't ever need to claim then i obviously lose out financially but still have the piece of mind,  if I claim within in 10-15 years then i would break even.

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6 hours ago, Randy_Baton said:

Its £250 per year not month and some of that premium is also not have to deal with firms like admiral if anything does go wrong, so there is a piece of mind benefit too. I'm almost certainly going to be out of the petrol/performance car game in a year or 2 and i'll be leased electric though mt work,so its short term risk.

 

There absolutely is a break even point, if i don't ever need to claim then i obviously lose out financially but still have the piece of mind,  if I claim within in 10-15 years then i would break even.

I meant year not month... but you're relying on you writing a car off to break even - statistically it's unlikely, so you're backing the wrong horse.  Google says 'one in every 83 drivers will have written off their car every year'.

 

I wouldn't place a £250 bet at 83/1... :thumbdown:

 

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