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 Post subject: Insurance Valuations
PostPosted: Fri Dec 04, 2009 12:15 pm 
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Picking up a bit of speed
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Joined: Sun Jul 20, 2008 9:55 pm
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Location: Sunderland
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I've just finished arguing on the phone with Admiral about the valuation of my Coupe. They reckoned it was worth no more than £3100. After asking where they got that value from the answer surprised me a lot...AUTOTRADER! :shock:

So a quick hop onto Autotrader reveals that the car on there that they based their valuation on was a 2002 (52) on less miles at £2900, but was a private seller. I pointed this out and told them to look further down the list where there was a trade seller with a 2002 (02) on 77k (10k more than mine) for £3800. A little bit of negotiation got them to £3725.

Has anyone else known of an insurance company to base their valuation on autotrader?


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PostPosted: Fri Dec 04, 2009 12:20 pm 
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Joined: Fri May 05, 2006 10:20 pm
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so when you write your car off, flood autotrader with fake cars, same make, model and miles as yours with inflated prices? ;)


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PostPosted: Fri Dec 04, 2009 12:51 pm 
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Joined: Sun Jul 20, 2008 9:55 pm
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If you're with Admiral then yes :)


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PostPosted: Fri Dec 04, 2009 6:14 pm 
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yep its really sh*te.they did similar with me but never accept their first offer anyway


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PostPosted: Fri Dec 04, 2009 10:09 pm 
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yea i work for an insurance company and was sat with a total loss valuation team the other day, they get a engineers report on the car which will tell them of previous damage/condition of the car so they can minus £100 here and there for scratches rust etc, then they do a glasses check to get a rough valuation and then go look on autotrader, you'll get more if you've bought from a dealer that private as dealer comes with warrenties etc, remeber they normally have a target, where i am they try and offer below 80% of the glasses valuation. but sometimes that can be bang on, my coupe is on glasses for about £4700 but i got it for £4000 6 months ago.

so ultimately yeah they use autotrader to try and get a vehicles market value, i wouldnt recommend making fake ads tho cos people do this, they are found out and then their claim gets thrown out so they end up with nothing


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PostPosted: Fri Dec 04, 2009 10:25 pm 
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gunsdontkillppl wrote:
they are found out and then their claim gets thrown out so they end up with nothing


I love how i can totally get away with that with nobody ever knowing. :mrgreen:


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PostPosted: Sat Dec 05, 2009 12:11 pm 
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gunsdontkillppl wrote:
yea i work for an insurance company and was sat with a total loss valuation team the other day, they get a engineers report on the car which will tell them of previous damage/condition of the car so they can minus £100 here and there for scratches rust etc, then they do a glasses check to get a rough valuation and then go look on autotrader, you'll get more if you've bought from a dealer that private as dealer comes with warrenties etc, remeber they normally have a target, where i am they try and offer below 80% of the glasses valuation. but sometimes that can be bang on, my coupe is on glasses for about £4700 but i got it for £4000 6 months ago.

so ultimately yeah they use autotrader to try and get a vehicles market value, i wouldnt recommend making fake ads tho cos people do this, they are found out and then their claim gets thrown out so they end up with nothing



How do they know if the car had scratches etc before the crash? Surely you could argue that when you bought the car it was in mint condition?

I was with Elephant when I had my crash and they used autotrader too (as they are in the same group as Admiral).


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 Post subject: Re: Insurance Valuations
PostPosted: Fri Jan 01, 2010 6:47 pm 
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Joined: Wed Feb 18, 2009 2:48 pm
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I was worried when my Punto got written off. I had the car for about 6 months and was lucky to get back what I paid for it.


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