Guest Martyn Posted August 9, 2004 Share Posted August 9, 2004 If anyone is thinking of insuring with Elephant or Admiral you might want to think again. After having an accident in my MR2 Turbo the claim was going fairly smoothly...until I got this via e-mail today.... We have decided to settle your claim on a "total loss" basis. We have based our valuation on the current market value of your car, calculated as follows: Market Value £ 2,250.00 Less Excess £ 500.00 Less Remaining Insurance Premium £ 841.78 Settlement figure £ 908.22 Our settlement cheque will follow shortly. Banking our cheque will not prejudice your position. So let me get this straight, I paid just under 7k for an 94 MR2 Turbo only worth 2250 quid last month? Hmmmm! Did anyone say 'Insurance Onbudsman' lol? Obviously I'm not going to accept this. So I've sent them the following.... Please pass this information on to the claim handler to take into account whilst valuing my car... I would also appreciate it if you took into account that my car was the high spec Revision 3 'GT' Turbo with very low mileage for the year (70,000ish KMS - Roughly 43,000 miles) in a highly desirable colour (Met Black) with a very comprehensive history including a receipt for a replacement standard turbo costing in the region of £900 which was fitted a few months ago. The car took my a long time to find, I looked at a lot of trash on the AutoTrader costing a lot less but most of them were very tatty GT-S's with patchy history. A few examples of the market value are supplied below.... http://www.mr2-direct-imports.co.uk/ - See 'Stocklist' http://www.spimports.co.uk/showroom.asp?type=toyota http://www.neweraimports.com/stock.htm http://www.goulders.co.uk/_goulderframe7.htm Kind Regards, Martyn Thomas Anyone had any dealings like this? Quote Link to comment Share on other sites More sharing options...
China Man Posted August 9, 2004 Share Posted August 9, 2004 oh no, I am with elephant and the car is going to be looked at by their engineer tomorrow........not good! China Quote Link to comment Share on other sites More sharing options...
michael Posted August 9, 2004 Share Posted August 9, 2004 It's standard practice to try and shaft customers with the first offer, sick to your guns, send Autotrader links and keep pestering them. Cheapest rev 3 I know of at the moment is £4500 and it's a GTS, hardtop in red so hardly the most desirable option. Do me a favour when you speak to them, if they can get rev 3's for £ 2250.00 can you ask them where, at that price I'll take 4! Quote Link to comment Share on other sites More sharing options...
Guest Martyn Posted August 9, 2004 Share Posted August 9, 2004 Is yours an import too? Apparently they have a little book of JDM car prices...thats where they magic'd up that insulting figure! The lady tried to tell me she got the price from glass's until I told her it doesnt cover imports. Quote Link to comment Share on other sites More sharing options...
Guest Martyn Posted August 9, 2004 Share Posted August 9, 2004 Originally posted by mcanny Do me a favour when you speak to them, if they can get rev 3's for £ 2250.00 can you ask them where, at that price I'll take 4! Yea, I kinda joked at her and said about being able to get another for that price and how I was massively ripped off when I brought mine. Quote Link to comment Share on other sites More sharing options...
Whitesupraboy2 Posted August 10, 2004 Share Posted August 10, 2004 unlucky mate, just keep perstering!!!! eventually you will get them to at leasta half decent sum! when it said 2500 to start with, i thought that was bad but now that looks good Quote Link to comment Share on other sites More sharing options...
Barney Posted August 10, 2004 Share Posted August 10, 2004 Ahhhh, typical insurance company bullshit.................as everyone says, keep on at them and make sure you send them some nicely priced Autotrader ads and the like, it does work. Good luck, hope it all works out for you. Quote Link to comment Share on other sites More sharing options...
MARTIN R Posted August 10, 2004 Share Posted August 10, 2004 dont give up, we are still in a legal dispute with admiral.18 months and still fighting. And all over the old runabout, but is the bloody principle.Insurance companies hack me off:mad: Quote Link to comment Share on other sites More sharing options...
Guest Martyn Posted August 10, 2004 Share Posted August 10, 2004 Right, after another session on the phone I have the value of the car upto 'retail' which is apparently £4975 before excess and remaining premium . I have once again expressed my disgust and I should get a call back from a manager tomorrow....What a bunch of arse! Quote Link to comment Share on other sites More sharing options...
toyotasuprauk Posted August 10, 2004 Share Posted August 10, 2004 Like others have said they always back a really bad offer at first in the hope you will accept it. Rip off insurance. Why have they deducted the remaining Insurance Premium of £841.78 from what they are going to pay you? Quote Link to comment Share on other sites More sharing options...
Guest Martyn Posted August 10, 2004 Share Posted August 10, 2004 I was paying monthly mate, it's all in the contract that says if you claim before the end of the policy you owe them the remaining premium. Quote Link to comment Share on other sites More sharing options...
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