mjheathcote
Centenary Club
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A-Plan agreed value on mine last couple of years.
Dave you agreed value on yours for sure!
Looks like the end of the Maserati adventure........
- Thread starter kimgoblin
- Start date
A-Plan agreed value on mine last couple of years.
Dave you agreed value on yours for sure!
cheshiremaserati
Member
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- 1,121
I have had agreed value policy on both the Porsche and the GranSport from the very start of ownership.
Market value is a joke - less so if through a good specialist broker but any volume insurer off comparison sites doesn't have/want to have any realistic market value relying on trade guides.
6yrs for the Turbo and 2yrs for the GranSport. Always through specialist broker.
Market value is a joke - less so if through a good specialist broker but any volume insurer off comparison sites doesn't have/want to have any realistic market value relying on trade guides.
6yrs for the Turbo and 2yrs for the GranSport. Always through specialist broker.
Absolutely right, the third party's insurance company need to get you a new AC or compensate you adequately, don't accept anything less. If it had been your fault and you were going through your company, it would be a bit different and things like excess and agreed value (or lack of) would come into it.
If they can't replace it, you could insist that they repair your car.
Good luck
Simon.
Needamaser
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The way I read it is OP is dealing with his company not the third party and if that is the case then courtesy car etc will only be provided on basis of the cover stated on his policy. He wont get like for like and he will only get it until his policy says he can which may be on confirmation of a write off and offer made.
He should be dealing with the TP insurer (through claims management company possibly)
Thanks everybody for your comments and support, its one of the best things about being a Maserati owner, feeling part of this community and I will really miss it. Several comments have been posted suggesting I should be going through the third party's insurance company. How do I organise that and is it too late as Esure(my own insurers)have already become so involved? From what's been suggested it sounds as if I'd be likely to get a more representative offer made by the third party insurers than my own. The engineer who valued the car wasn't too impressed when I cited the prices from Autotrader and Piston heads for equivalent 3200s and even less so when made aware of the assetto corsa values stating they don't take adverts into consideration as they cannot verify the prices the cars actually sell for from these. Dickie, your message detailing the sale prices of those 5 assetto corsas will prove really helpful in countering that arguement so thank you very much. A number of comments have been posted regarding the hire car. They did actually offer me something more in keeping with the Maser but there was going to be a significant delay getting it. The Maserati is my daily drive so I needed some wheels pretty quickly to get me to work and consequently accepted their offer for a 2 litre replacement car. The next day the insignia turned up and actually although ugly as sin and massive to park its fine as a temporary beast of burden. The major irony which I havent mentioned is that the driver of the Volvo which hit me is actually my best friend from my medical school days ! We were in convoy driving back from the hospital when he plowed into the back of me. I suspect our friendship will survive better than the car! Thank you all for taking the time to reply, it's good to have your collective take on this and I'm grateful for the wise counsel given! I'll keep you posted as events unfold
Kim
Kim
Needamaser
Member
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Potential issue is time delay between accident date and involving them. I "think" time limit is 10/14 days before TP insurer will entertain so act now.
cheshiremaserati
Member
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It was not clear till now that you did not go through the third party insurance co. If its not too late, this needs to be done as clearly from your description its a no-fault claim and third party appears liable and as a friend is unlikely to bend the story to "you reversed into me whilst I was stationary behind you" etc.
The replacement vehicle costs will be passed to third party insurer as will repair costs and should not affect your excess.
I would not pursue a like-for-like temporary car. You have a reasonable car provided at the moment.
If you had an accident claim management company paid through an additional premium, such a company would take up the claim and a like-for-like replacement car whilst the matter with your car is undergoing resolution. But it doesn't sound as if this is relevant in this case.But when a replacement Porsche or Maserati is being claimed by the claims management company invoiced to the third party insurer, it can speed things up with the resolution process!
So I'd recommend pursuing this via the third party insurer either by notifying your insurer (Esure) and instructing them to take it up with the third party insurer or do it directly yourself and notifying Esure.
Good luck.
rs48635
Member
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My 3200 was smashed into by wife's car. Luckily it was all well repaired and I ket the car.
Handed the whole debacle to her insurer, so mine stayed claim free. I did get choice of hire car, but still ended up with some ice white Merc convertible with bling AMG upgrade pack. Thought it was a hidden camera joke TV show when they asked if I was pleased. The wife and daughter loved it though. Only found out after returning it 8 weeks later I could have got their bosses new 911 if I pushed just a little more. The amount spent on repairs and hire likely exceeded value off my car, but my own insurer did not care. Not sure I even told them.
Handed the whole debacle to her insurer, so mine stayed claim free. I did get choice of hire car, but still ended up with some ice white Merc convertible with bling AMG upgrade pack. Thought it was a hidden camera joke TV show when they asked if I was pleased. The wife and daughter loved it though. Only found out after returning it 8 weeks later I could have got their bosses new 911 if I pushed just a little more. The amount spent on repairs and hire likely exceeded value off my car, but my own insurer did not care. Not sure I even told them.
Saigon
Member
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In the definitions section of my policy, it defines Market Value as “The cost of replacing your car with one of the same make, model, specification and conditionâ€. That seems fair enough to me for a non agreed value policy, because that is exactly what I would want. I agree there would be some negotiation involved which would take time but the definition is quite clear.
I'm not sure it should matter, unless they're "better" than your company. If you go through your company, they will recover the money from the third party's insurance so may be more inclined to be reasonable as it's not their money. Just insist that they sort it to your satisfaction. They'll want the claim settled so may put pressure on the third party's company.
I did this when someone ran into the back of me (not the Maserati though). I went through my company and let them deal with the third party's company. It helped that the engineer was a reasonable chap. Maybe you should insist on another valuation / assessment.
Cheers,
Simon
CatmanV2
Member
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Thing is the third party company is often keener to sort it out because if your company deal, they pass the costs on to the 3rd party insurers + 'admin fees' (is my understanding).
So it's in your company's best interest to keep the cost to them as low as possible so they can take more from what they charge the 3rd party insurers. As an example, when my GT was smacked I was offered a Vauxhall (I think) by my insco and a long discussion about body repairs. The 3rd party insco had me in a 911 Turbo stat and took 45 minutes to tell me to pick a repairer, or would I like some help finding a nearby dealer.
The other thing I'd say is that it's a war of attrition. The policy wordings are perfectly clear “The cost of replacing your car with one of the same make, model, specification and condition” of course the insco want to take Glass's guide, but they know it's low balling. Just need to stick with it.
C
So it's in your company's best interest to keep the cost to them as low as possible so they can take more from what they charge the 3rd party insurers. As an example, when my GT was smacked I was offered a Vauxhall (I think) by my insco and a long discussion about body repairs. The 3rd party insco had me in a 911 Turbo stat and took 45 minutes to tell me to pick a repairer, or would I like some help finding a nearby dealer.
The other thing I'd say is that it's a war of attrition. The policy wordings are perfectly clear “The cost of replacing your car with one of the same make, model, specification and condition” of course the insco want to take Glass's guide, but they know it's low balling. Just need to stick with it.
C
cheshiremaserati
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Take any definition of 'market value' and it will differ from the policyholder definition and value for the same.
It is a game - attrition. The insurance company stance is to grind you down and accept a lower value throughout the discussion that is completely avoided with an agreed valuation policy.
To this example,what is key is kimgoblin pursues this through the third party insurer directly or via own insurance.
I struggle to understand how this is apparently unfolding.....
It is a game - attrition. The insurance company stance is to grind you down and accept a lower value throughout the discussion that is completely avoided with an agreed valuation policy.
To this example,what is key is kimgoblin pursues this through the third party insurer directly or via own insurance.
I struggle to understand how this is apparently unfolding.....
Mott The Hoople
Junior Member
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- 188
Personally, I wouldn't waste energy on arguing about the loan car. Focus on the important thing. You need, and are entitled to, a replacement AC or it's true cash equivalent. It can take up to a year to argue them up sufficiently. Others have covered evidence of value etc. but don't forget the important backstop of taking it to the Insurance Ombudsman.
I used to have an equivalent value policy but it came with conditions (such as must be in locked garage after 6pm when at home) that were a pain. I'm now with Churchill, who are cheap and have the useful (and unusual) feature of a "replacement car guarantee". They will source a same model replacement car of similar age and mileage or offer you the market price of that sourced car. I'm quite sure they have no idea of how hard sourcing such a car will be in practice! However I hope that, once they've actually tried to do so for a while, they will then have a more realistic idea of the market value.
Knock for knock agreements between companies mean that you will be dealing with your own insurer, not the third party's insurer. You should be able to claim your uninsured excess from the TP insurer (although in practice your own insurer will probably waive the XS instead - that's what happen with me.) K4K agreements seem odd but they reduce claims costs massively, which is reflected in the premiums we all pay.
Good luck (and persevere).
Steve.
I used to have an equivalent value policy but it came with conditions (such as must be in locked garage after 6pm when at home) that were a pain. I'm now with Churchill, who are cheap and have the useful (and unusual) feature of a "replacement car guarantee". They will source a same model replacement car of similar age and mileage or offer you the market price of that sourced car. I'm quite sure they have no idea of how hard sourcing such a car will be in practice! However I hope that, once they've actually tried to do so for a while, they will then have a more realistic idea of the market value.
Knock for knock agreements between companies mean that you will be dealing with your own insurer, not the third party's insurer. You should be able to claim your uninsured excess from the TP insurer (although in practice your own insurer will probably waive the XS instead - that's what happen with me.) K4K agreements seem odd but they reduce claims costs massively, which is reflected in the premiums we all pay.
Good luck (and persevere).
Steve.