Need a little bit of advice on insurance claims

[strike-down]

Hi all,

Haven't posted for a while, but I know a lot of you chaps are pretty clued up on this stuff.

Going through an insurance claim at the moment, third party admitted liability for the accident so all good on that front.
Now my bike is a total write off, and they have said as such. Now say the market value was given as £2000, and the salvage value given as £500 for simplicities sake. They want to pay me £1500 (difference of the market and salvage value) as the total loss settlement as they "have no interest in the salvage". Now this leaves me with a pile of useless junk, and more than likely out of pocket. They also say that the salvage value is paid by my insurance company, and will be collected by them which I don't believe for a second. What actually are my rights in this situation? Because needless to say I'm not happy with that resolution.

Many thanks in advance!

[kalniel]

I'd be tempted to ask their insurance to provide proof of the salvage valuation and then go directly to the organisation giving the quote and arranging with them to collect/pay you - if the amount differs against your favour then invoice their insurance company for the difference.

Ie they quote company A for their 500 salvage value. You go to company A and arrange collection/salvage. If company A quotes you less than 500 all in then go back to insurers.

If they don't agree with your quote for the salvage then offer them the wreck and ask for the whole market value.

[Ttaskmaster]

If they are keeping the wreck, you should get the full value.
If you want the wreck back, they deduct this from the full value.

My first question is whether you accepted their first offer on this full value?
If so - NEVER accept their first valuation. Fight for every penny.

Also - Do NOT let them fob you off with the ususal BS about whatever the Glass's Guide (or any other trade directory) says the bike is worth. Glass's mainly comprises just what dealers 'say' they sold the bike for, which is what they then bring out to 'consult' when people trade theirs in on PX - You'll never actually see dealership bikes selling at prices as low as those and there are many dodges to bump it up... hence BS.

You will need to supply recent examples of what other same model similar condition bikes sold for - No auctions, just outright sales (ie Buy It Now) from places like eBay, Auto Trader, dealerships and so on.

This is about how much it will cost to put you back to the position you were in before the accident.
Same for your lid, leathers, etc.

Also - What category of write-off is it?
Mine was a Cat C or D (can't recall), written off as costing over £3,800 to repair - I managed it for £600, including labour and am now happily riding it again on a daily basis.
So if you have the option, consider whether you can fix it up for far less than they're offering.

What bike is/was it?

[strike-down]

Its a supposed Cat C write off, which is another aspect I don't agree with. Their judgement was based off photos taken by an inexperienced photographer, not an engineer's inspection. On my own inspection their is frame damage which I believe would push it to a Cat B, so cannot be put back on the road. It's only my daily commuter, a CBF125 (thankfully not my z800), and the valuation was actually in line with current market prices. But it's the fact that a) I believe its categorised incorrectly as they have not seen the frame damage and b) they want to deduct their valuation of the salvage, leave me with it and pay me the remainder. But trying to discuss the issues I have with them is like banging my head on a brick wall, and my insurance company are having the same problems with them.

Thanks for the replies so far!

[herulach]

Its a supposed Cat C write off, which is another aspect I don't agree with. Their judgement was based off photos taken by an inexperienced photographer, not an engineer's inspection. On my own inspection their is frame damage which I believe would push it to a Cat B, so cannot be put back on the road. It's only my daily commuter, a CBF125 (thankfully not my z800), and the valuation was actually in line with current market prices. But it's the fact that a) I believe its categorised incorrectly as they have not seen the frame damage and b) they want to deduct their valuation of the salvage, leave me with it and pay me the remainder. But trying to discuss the issues I have with them is like banging my head on a brick wall, and my insurance company are having the same problems with them.

Thanks for the replies so far!

assuming you're dealing with an insurer, remember you have the same rights as dealing with any other financial institution even though you're not a customer. Send them a letter recorded stating you also have no interest in the salvage and as they (presumably?) have the bike you've no reason to get it back.

If they don't respond within a reasonable period, complain to them, and then when they don't respond to that submit something to the FCA.

[Ttaskmaster]

On my own inspection their is frame damage which I believe would push it to a Cat B, so cannot be put back on the road.

I believe you are correct, though I'd have to check.
It may be superficial or correctable damage, particularly in the case of swingarms, engine bars and fairing frames. If you want to know for sure, you'd need it checked over by whoever (if not yourself) would be doing the repairs, such as a professional motorcycle mechanic.
It probably still stands that it's not economical to repair, but bear in mind they assess the cost of repairing *EVERYTHING*, down to the smallest scuff, while using all brand-new OEM parts direct from the manufacturer... the last bit being what makes it so flippin' expensive!

It's only my daily commuter, a CBF125 (thankfully not my z800), and the valuation was actually in line with current market prices.

That's fair enough, I guess.

But it's the fact that a) I believe its categorised incorrectly as they have not seen the frame damage

You can challenge it...
I wouldn't think a different category would get you any more money, though.

and b) they want to deduct their valuation of the salvage, leave me with it and pay me the remainder.

No.
Freakin'.
Way.
Do not let them do this.
Any fees they want to charge should be paid directly by your insurer and claimed back off the third party, who are liable for all reasonable costs incurred... of which the valuation of the vehicle and damage caused is one.
Refuse to pay outright, or better yet direct them to your insurer/solicitor.

Bascially, the 3rd Party buys the vehicle at the valued price. *If* you want the salvage back, the price is a percentage of that value, which they deduct before paying you the final sum.
But you should have the choice over whether you want the salvage or the full valuation.

NOTE: The valuation should have been carried out by a qualified, independent assessor, although they may be appointed by either your insurer or that of the third party... And you can always get your own valuation done if you want to challenge it for any reason.

Thanks for the replies so far!

No worries, mate - I went through this in November 2013. It wasn't until March 2014 that everything was resolved, so I know how stressful it can be.

[Ttaskmaster]

Also, if you get any more problems, tell the valuers and the 3rd party insurers that you're taking it up with their Ombudsman... and then do so!