Can I Dispute The Market Value of The Write off?

witsa on 13/04/2018 - 14:55

So I have a 2008 Nissan Micra that's only done 50000km. It was involved in a crash - got rear ended and wasn't my fault. So I'm dealing with the other guy's insurance company.

Anyway, the insurance company has come back and said the car is a write off and offering me $4000. For me, that doesn't seem fair. Isn't replacement all based on market value? Cause a quick look on CarSales indicates that the exact model car is going from $4000 (car without a front windscreen) to up to $9000. All of the cars have done much more than 50000km.

I'm realistic - the car is a little messy on the inside, it's got some slight cosmetic damage so I don't expect $9000 but I would've thought it'd be higher than $4000.

So I was just wondering, is there any way I can dispute that? Has anyone been though this process? Would I be fighting the insurance company?

Automotive

Comments

  • pjetson on 13/04/2018 - 15:17

    Yes, you can try to dispute their offer (which is what it is, an offer).

    The job of the insurance company is to pay you the least amount possible, and they are not likely to change their mind just on the basis of you asking for more money, regardless of how worthy your argument is.

    Also, you are not the customer of the other person's insurance company, so they have no interest at all in being nice to you.

    You probably should take legal advice, but I'd think that your best course of action is to obtain a quotation for the repairs, and/or an independent valuation of your car pre-accident, and send a letter of demand to the owner of the vehicle at fault based on those figures.

  • dcep on 13/04/2018 - 15:21

    no need carsales market value, just slap them back with redbook value

  • Scab on 13/04/2018 - 15:26

    Last time I disputed an insurance offer I got an independent valuation.

    Was about 3k more, insurance paid me an extra 2k.

    Can't remember how much the valuer charged but I ended up with a better outcome.

    Probably not worth it in your case though.

  • Cheap Charlie on 13/04/2018 - 15:34

    As noted above, the insurance company has made you an offer.
    As they say, you never take the first offer.
    Arm your self with links to compariables offered for sale and if its favourable, a link to the applicable vehicle on Redbook.
    Aim high, there mentaility will be to negotiate down your figure.

    Good luck

  • JimmyF on 13/04/2018 - 15:40

    What does redbook value the car at?

    • witsa on 13/04/2018 - 15:46

      the rebook value is up to $5000 for a private sale. However, as mentioned, this car has only done 50000km. The Redbook $5000 was for a car that's done 140,000km.

      • websterp on 13/04/2018 - 15:49

        Find Carsales Ads for a couple of identical vehicles in similar condition and mileage and use them to back your claim.

  • Euphemistic on 13/04/2018 - 15:55

    A work mate was discussing this recently. had his car hit a while back and ended up on the third offer after a looonnngg time. Ended up with 1st off $1500, 2nd offer of $2k, finally $2k and keep the car. This was for a car that was not economical to repair (eg $1500 worth of professional repairs on a $2k car). He kept the car and spent a couple of hours and bought a some 2nd hand parts patching up the damage and drove it for another 18 months.

    His partner is now going through the same process and he was told by a smash repairer that you should not accept the first offer. Get them to give a revised more acceptable offer and then accept that on condition that you get to cash in the rego (keep the plates) or keep the car depending on whether you think it can be repaired cheaper or need to be scrapped.

  • spackbace on 13/04/2018 - 17:22

    https://www.carsales.com.au/private/details/Nissan-Micra-200…

    $5,500 with 55,000kms, and not the prettiest condition (which you said yours doesnt have either)

    • witsa on 13/04/2018 - 17:39

      Ah cool. I think that's a pretty close comparison. His damage probably worse than mine though

  • [Deactivated] on 13/04/2018 - 18:01

    death trap type of car, im surprised you're alright after the accident.

    • follow on 14/04/2018 - 10:57
      +1

      Could be posting from the hospital bed

  • follow on 14/04/2018 - 10:57

    There are independent valuers you can go to that insurance companies listen to

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