Total loss S3

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Kunit

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My sS3 has finally been announced as total loss after 10 days of ownership, A crazy lady thought it would be a good idea to pull out in front of me. Now i start the quest in getting decent monies for it and decide if i buy another
 
damn those crazy ladies:gun2:

you should go for a new one, after all, you only had it ten days....fingers crossed you get the brass you want for it.:s3addict:
 
If when you say decent money you mean more money than you paid for it well unfortunately the insurance company will probably give you the money you paid for it 10 days ago. don't expect more , even if the book value has it higher !
 
audi upgrades
De Ja Vous JoJo, swear you said that exact phrase not to long back, lol.

Shame on the S3, lovely cars, had mine for 7 years, loved it, assuming she has admitted liability & I'm sure your neck & back are very sore & possibly damaged no :eyebrows:
 
Yeah same thing happened to me. After 10 days a woman reversed into the side of mine while i was parked up. For me it really ruined the new car experience and it was a while before i was happy again. The car got repaired but now im arguing liability due to us both been with direct line !

Anyway hope everything works out for you ok.

Sean.
 
lmfao, its scripted into the server for him now, someone's been playing huh JoJo, lol
 
Just had a phone call from the engineer and have been offered more than i paid for it, yay! Not sure weather to buy it back and break/repair it? back is in quite a bit of pain since, no sarcasm im a tech so its playing havoc with my job at the mo. Third party insurance accepted liability straight away which was nice. Only down side is i wanted an S3 since i was a kid and no the experience has been ruined for me and going around trying to find a tidy one aint sounding too appealing right now
 
Great that you are offered more than what it owes you
Get another s3 and have a fresh start this time .
 
Don't let it put you off the car. Get out and buy another then carry on. It makes you a more defensive driver.

Great they gave you more. Count on some compensation for the injuries too. Its a given these days when not your fault.
 
lmfao, now we know your secret to 10k posts, Jase, delete his double/triple/quadruple posts please, take you down to 3k :undwech:
 
Well, I am really surprised you've been offered more, but I now think it's because the other party has acknowledged fault and they are paying for it. The other obvious fact that has to be mentioned is that you must have bought it privately and obviously cheaper than a dealer or even better still from an auction !

I am, like 99% sure, had it been your fault YOUR insurance company would not have given you more than you had paid for it - especially if you had just purchased it 10 days ago.
 
thegoal007 said:
Well, I am really surprised you've been offered more, but I now think it's because the other party has acknowledged fault and they are paying for it. The other obvious fact that has to be mentioned is that you must have bought it privately and obviously cheaper than a dealer or even better still from an auction !

I am, like 99% sure, had it been your fault YOUR insurance company would not have given you more than you had paid for it - especially if you had just purchased it 10 days ago.
Click to expand...

Maybe he got the car cheap... how many of you put the actual value of your car when they ask for it when quoting for insurance?
 
audi upgrades
So if you had an insurance value of 2K over the book price, do you think they would have given him that ? I think not. So they basically looked at their black 'dealer' trade book and offered him top retail value, based on the car mileage/age. BTW, extras don't make much of impact. There is some leway, if you can show/prove receipts of additional work (not routine maintenance work).

Another example if you had a £2k stereo in the car, you could claim for removal from the car, but not for installation into another car.

** Hence what I said earlier, that he purchased the car at a good price **

The only way you would get what you insured it for is if you have a specialist agreed value insurance policy, but they would charge a premium according to the value you put on the car and possibly have other limitations.
 
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The insurance company I work for do not take any notice of how much you say your car's worth. I worked in the total loss team for 2 years, and the way the "pre accident value" is worked out is by "market value", we do our best to put our policyholders in the same position as before the accident, (regardless of who is at fault for the accident)

Therefore our engineers will look at the market value of the car from the date of the accident. Examples will be provided of cars (of similar age, spec, milage and condition) for sale within a 60 mile radius of the policyholders home address, and we provide these as examples to back up the pre accident valuation.

The auto trader is used 90% of the time for the exapmles. If the policy holder is unhappy with the valuation, we ask they send in evidence/examples of cars for sale (of similar age, spec, milage and condition) and then pass these examples to the engineer for consideration. Depending on the evidence provided the valuation can be increased.
This is IMO the best most fair way a total loss claim should be settled.

Sorry if this is of no interest, I just thought I would explain how a car's pre accident valuation is calculated by most insurance companys.
 
Just to clear it for you guys, I'm in no way insisting you over value your car when purchasing insurance, just thought it normal to quote a slightly higher figure, like rounding upto a grand on top as mentioned earlier.

Of course insurance company's are not going to pay you X amount, cos you spent that much on ICE or a turbo upgrade.
 
LiveWire said:
The insurance company I work for do not take any notice of how much you say your car's worth. I worked in the total loss team for 2 years, and the way the "pre accident value" is worked out is by "market value", we do our best to put our policyholders in the same position as before the accident, (regardless of who is at fault for the accident)

Therefore our engineers will look at the market value of the car from the date of the accident. Examples will be provided of cars (of similar age, spec, milage and condition) for sale within a 60 mile radius of the policyholders home address, and we provide these as examples to back up the pre accident valuation.

The auto trader is used 90% of the time for the exapmles. If the policy holder is unhappy with the valuation, we ask they send in evidence/examples of cars for sale (of similar age, spec, milage and condition) and then pass these examples to the engineer for consideration. Depending on the evidence provided the valuation can be increased.
This is IMO the best most fair way a total loss claim should be settled.

Sorry if this is of no interest, I just thought I would explain how a car's pre accident valuation is calculated by most insurance companys.
Click to expand...


That's basically what I kinda said. Additionally I'm failry sure that if you bought your car for a really good deal and paid peanuts and upto a year later it was write off due to your own doing, your insurance company will only give you what you paid - which would be lower than the market value for it (they would always pay the lower of the 2). But interestingly KUNIT has got more than what he paid for his. Therefore, effectively when the 3rd party is paying those rules are not followed and you get the market value for it.
I can only think this is because all these additional facts are not passed to the 3rd party insurers. e.g how long the car has been owned by driver and price paid.
 
thegoal007 said:
I'm failry sure that if you bought your car for a really good deal and paid peanuts and upto a year later it was write off due to your own doing, your insurance company will only give you what you paid - which would be lower than the market value for it (they would always pay the lower of the 2). But interestingly KUNIT has got more than what he paid for his. Therefore, effectively when the 3rd party is paying those rules are not followed and you get the market value for it.
I can only think this is because all these additional facts are not passed to the 3rd party insurers. e.g how long the car has been owned by driver and price paid.
Click to expand...


In the case of the company I work for if you paid for example £5,000 for your S3, and it was written off 1 year later. The market value will still be paid even if the car is valued at £5,500.

I work for insurance, no where near the cheapest company around, but one of the best. (you get what you pay for so to speak) I agree a lot of other insurers will do what ever they can to pay the least amount, but at there risk.

If the customer is unhappy and puts a complaint in to the FOS (Financial Ombudsman Serive) or the FSA (Financial Services Authority), any insurance company will have to pay a £550 fee, just for the complaint to be investagated. Therefore the "risk" has to be weighed up. Therefore it is best to be fair in the first place rather than risk a complaint.

(I wont say anymore because it will get very boring) And its the weekend now so no work till Monday :rockwoot:
 
thegoal007 said:
Well, I am really surprised you've been offered more, but I now think it's because the other party has acknowledged fault and they are paying for it. The other obvious fact that has to be mentioned is that you must have bought it privately and obviously cheaper than a dealer or even better still from an auction !

I am, like 99% sure, had it been your fault YOUR insurance company would not have given you more than you had paid for it - especially if you had just purchased it 10 days ago.
Click to expand...

Not being rude but every one of your posts on this topic has been incorrect, also both parties are with the same insurer, i did get a good deal on the car but right place right time, still doesnt make its market value any less. The value is taken from glasses guide and two extras are taken into consideration, fortunately i have a sunroof and 18" wheels. I didnt get a lot extra was just happy not to lose out in the short period it was on the road.
 
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take the money go buy a new to you S3 with if possible more options or lower mileage or newer in age. I wouldnt mind a chance to buy another.
 
mattyboy199 said:
take the money go buy a new to you S3 with if possible more options or lower mileage or newer in age. I wouldnt mind a chance to buy another.
Click to expand...

You're not trying to tell us that you would be better off after writing off your car....are you ? I do hope you will be putting some money on top to buy yourself a better car.
 
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