Insurance problems

[Stuart]

Ok guys,

Had a Crash 31st Jan this year.

Insurance company infromed and subsequently sent out one of their engineers to assess the damage.

The engineer came in at 35K Euros, quoted from Lotus in Madrid.

The insurace company have offered me 23K euros circa 16K sterling.

Apparently this is the 'VALUE' of the car and they want to do me the favour of not writing the vehicle off.

I have rejected the offer and insisted on at least 35K euros for the repair or for them to write off the car.

They rejected this and said that their original offer stood.

I replied and forwarded the link from lew and autotrader for cars currently up for sale.

Got a reply back today and they are still not increasing their offer.

So now contemplating going to my solicitor and let them handle this.

The car is currently in Palma de Mallorca ( spain )

The insurance company in English

She is a V8GT ( V 2000 plate ), 23K miles, full service history, every reciept etc.

The Value of the vehicle that I declared to the insurance at the start of the policy was 30,000 sterling.

Before the prang she was in perfect condition apart from the usual stone chips on the front.

This whole debacle pains me as I just want to get the car back on the road, also I have just invested in the traction control unit from race logic.

So needless to say I am very frustrated with the whole affair.

Any help on what to do next of advice would be much appreciated.

Thanks in advance guys,

Stuart.

[USAndretti42]

There was a whole series of discussions with EspritMiltonKeynes who was in a similar situation after someone ran into his car. He made some progress but I don't think he ever got is fully resolved.

I can't find the posts now. Perhaps someone is more skilled at searching than I.

[nicksoldies]

Club Lotus often bragged in the past at how good they were at sorting this kind of problem out. I seem to remember a couple of times in the magazine, they said they'd done it for none members. Not sure if you're a member or not but I still think it's worth contacting them. Your Esprit is worth much more than

Edited May 5, 2006 by nicksoldies

[Paul C]

There was a whole series of discussions with EspritMiltonKeynes who was in a similar situation after someone ran into his car.  He made some progress but I don't think he ever got is fully resolved.

I can't find the posts now.  Perhaps someone is more skilled at searching than I.

<{POST_SNAPBACK}>

On the members request, that thread was deleted from the board.

If anyone wants to discuss their insurance/claim and then wants

the thread deleted we are happy to do this, it's a real longshot but

on a seachable forum, but there might be things discussed that you

want offline once you make a claim etc...

[USAndretti42]

Thanks, Paul. I thought I was imagining things.

[Stuart]

The insurance company have rerally dug their heels in with this. They are refusing to budge.

Does anyone know of a law firm that specialise in this sort of case?

I have tried searching the internet and can only find lawyers for personal injury claims. I'm not interested in this, I just want to get the car back on the road.

Stu.

[Tentenths]

Stuart

I *may* be able to help with this, but need more info first.

Were you/the car based in the UK when you took the policy out? What I'm trying to determine here is whether the policy was issued under, and subject to, English or Spanish law.

Assuming it's a UK policy, is it a specialist 'agreed value' type classic/collectors car policy or just a 'standard' everyday car policy?

Again, assuming it was taken out in the UK, was it bought via a broker/intermediary or direct from the insurer?

James

[Stuart]

tentenths you have a PM

Stu.

[Tentenths]

tentenths you have a PM

Stu.

<{POST_SNAPBACK}>

As do you.

James

[Tentenths]

Stuart

YHPM

J

[Kato]

It's really worth getting an 'agreed value' on your policy. Stops this problem dead in it's tracks.

[Tentenths]

It's really worth getting an 'agreed value' on your policy. Stops this problem dead in it's tracks.

<{POST_SNAPBACK}>

Kato's made an excellent point here.

In a write-off/total loss situation most conventional motor insurance policies here in the UK will only offer a payment based on the vehicle's trade value at the time of loss.

The ONLY way round this is to ensure that you have an 'agreed value'/classic car policy. Then, at the start, you and the insurer agree on a 'value' (you may be required to substantiate this with independent evidence) - it is from this figure that any subsequent total loss claim would then be calculated. It goes without saying that the figure should be reviewed at every renewal and, if necessary, increased.