Insurance Pay Out Valuation

[archersam]

sorry to hear of your hassle. I am very fortunate in that I have an exceptional policy via CHUBB (who insure everything I own in one policy) where the value is truly fixed. I tell them the value and they accept it and charge me an appropriate premium, now of course some will say yes but what about in a claim? Well in November my T5.1 was stolen. 2011 Shuttle with moon miles and insured at £15,400 and I suspect replacement value was circa £10k. After 30 days they paid the claim in full with no quibbles. They also paid the £11,500 of contents that were in it at the time (it was stolen when I was in the process of moving various household items from our barge that we had sold to the house).

The downside is that it isn't cheap at all, my new premium for the 6.1 Shuttle is high as it factors in the value it is insured at (set by me again) and also a pretty large recent claim.
AAC seems to be dragging it out as if I understand correct they earn a slice of the total costs. Hope you get it resolved soon.

 

[Mooncat]

As an update to this, to stop hire vehicle costs escalating, I accepted an interim payment which part covered the cost of buying a replacement (Transit Custom as they're significantly cheaper!). Then after a few more months of frustrating correspondence, the loss adjuster did increase their offer, however in my view based on other vehicles for sale was still short by several thousand.

To elevate it to the next stage, I formally complained, received their final response which then enabled me to raise it with the Financial Ombudsman Service. The FOS investigation confirmed that my complaint against the insurance company was valid and based on their research valued my vehicle at almost £6k more than the loss adjuster's final valuation. So in a few weeks this should all be finally resolved.

I'm still totally gutted that my T6 was written off as that vehicle was going to be a keeper.

 

[oldiebut goodie]

I have had good results with Ombudsman in dispute with EON, EON soon buckled once they had the Ombudsman on their backs. You just have to stick to your guns. I know you feel like tearing your hair out most of the time but there is a lovely warm feeling when your efforts bear fruit.

 

[Linoleum Bonypart]

As an update to this, to stop hire vehicle costs escalating, I accepted an interim payment which part covered the cost of buying a replacement (Transit Custom as they're significantly cheaper!). Then after a few more months of frustrating correspondence, the loss adjuster did increase their offer, however in my view based on other vehicles for sale was still short by several thousand.

To elevate it to the next stage, I formally complained, received their final response which then enabled me to raise it with the Financial Ombudsman Service. The FOS investigation confirmed that my complaint against the insurance company was valid and based on their research valued my vehicle at almost £6k more than the loss adjuster's final valuation. So in a few weeks this should all be finally resolved.

I'm still totally gutted that my T6 was written off as that vehicle was going to be a keeper.

This happened to me … I talked to the engineer loss adjuster over phone explaining the additions I’d made to vehicle over a standard t6 and he accepted it

 

[Bav]

As an update to this, to stop hire vehicle costs escalating, I accepted an interim payment which part covered the cost of buying a replacement (Transit Custom as they're significantly cheaper!). Then after a few more months of frustrating correspondence, the loss adjuster did increase their offer, however in my view based on other vehicles for sale was still short by several thousand.

To elevate it to the next stage, I formally complained, received their final response which then enabled me to raise it with the Financial Ombudsman Service. The FOS investigation confirmed that my complaint against the insurance company was valid and based on their research valued my vehicle at almost £6k more than the loss adjuster's final valuation. So in a few weeks this should all be finally resolved.

I'm still totally gutted that my T6 was written off as that vehicle was going to be a keeper.

Result! (accepting, of course, that you'd rather still have your T6)