QuestionCAN YOU TELL ME HOW MUCH MY CAR IS WORTH OR IF KNOW IS THERE A WAY I CAN FIND OUT WHAT IT IS WORTH SO I KNOW THE INSURANCE COMPANY IS MAKING ME A FAIR OFFER
i have just had lots of work done to my car and for its year was in mint condition prior to the accident. ive been told that it doesnt matter what condition it is in they will only give us an offer of settlement based on the age and type of car it is. out car was a t reg vectra so was about ten years old. how can we find out what we are intitled to before they make us an offer on it as i believe that its wrong. my friend told me they go on book prices so my question is AT THE TOP OF THE PAGE
my car spun off the road on the way to school due to hidden mud ander wet rain so was unavoidable. we landed in a 12 foot deep dike and myself and two children were injured and treated in hospital but no other cars were involved. i am fully comprehansive with 4 years no claims.
AnswerHello,
I apologize for the delay, but I answered the question twice and for some reason it did not post.
As for your friends commentary on your situation, he is 100% correct. The insurance company will only pay actual cash value (ACV).
It does not matter how much money you have stuck in the car. They will also minus from the ACV the collision (not comprehensive) deductible.
All this is defined in your policy or you can contact your agent for more details.
Rarely does the insured come out ahead in these circumstances and commonly insureds are not happy with the claims process.
You may feel it is not fair that the insurance company will only give you a fair market price after you have stuck so much money in the car, and maybe it isn't fair, but it is all in the policy as to how they will handle the claim.
