Thread: Dealing with insurance company third party claim after an accident, any advice ?

You need to start gathering up evidence of the value of the vehicle. This will be adds for them and if possible from car clubs and specialist dealers. They will be looking at adds only. You need to be ready to push back with evidence not just a he said she said type conversation. They may come back with a price you are happy with but you need to be ready when they call with an offer

Had a claim for a newer stolen car where they rang with a payout amount. It was a low offer and when I suggested the exact page number to look up in Glasses Guide for values the offer was immediately increased

Originally Posted by DiscoDB

I trust you didn’t mention the amount you are hoping to get.

I personally would be wanting to get what the current market value would have been (assuming this is higher than what was paid). Good condition classics just keep going up.

Sounds like you are on the right track now. 🤞

No mention of what we're expecting but did discuss 'salvage'. The Company doing the assessing mentioned a nominal sum to retain the vehicle which I guess is the value the wrecker would give.

Originally Posted by 3toes

You need to start gathering up evidence of the value of the vehicle. This will be adds for them and if possible from car clubs and specialist dealers. They will be looking at adds only. You need to be ready to push back with evidence not just a he said she said type conversation. They may come back with a price you are happy with but you need to be ready when they call with an offer

Had a claim for a newer stolen car where they rang with a payout amount. It was a low offer and when I suggested the exact page number to look up in Glasses Guide for values the offer was immediately increased

Red Book (our version of Glasses Guide) prices are much lower than the current value cars are being advertised for so I've been checking out asking prices in adverts.
Only 99,000km on the clock, great condition except some rust in the lower edge of the tailgate.


Colin

After many delays as the insurance company outsourced the assessment to a third party we have an excellent result.
The payout is above what was expected and only $100 to keep the wreck (a lot of parts are already pre sold).
They are also paying the towing fee when the vehicle was removed from the scene of the accident.

I was expecting a long discussion relating to the payout. I found prices for sedans ranging from $3500 to $20,000 (restored) no wagons.
We got more than the purchase price plus we can now sell some of the parts.

They wanted to remove the vehicle for assessment but I insisted I just send photographs to save the cost of removal and return from our property (plus I didn't want to lose access to the wreck). After wriggling a bit they agreed.

The insurer was OK to deal with apart from the usual delays getting through to their call centre and then the outsourcing of the assessment.

The young bloke can now move on and get another vehicle.


Colin

That's a really fortunate outcome. Most policies used to have a specific clause where if you admit fault, your insurance is void. So moral or not, admitting fault can put both parties in a world of hurt.

I was expecting to make up the amount he paid by parting out the wreck.
Instead it's additional funds for the young bloke.
To be fair he did buy pre-covid, secondhand prices have risen and it was low kms. The only rust was in the tailgate, that's one job I won't have to do now !
SWMBO is already worried about how long it will be taking up space on the driveway while it's parted out.
Other son wants the front struts (they were new for the roady) and also the rear axle.
The period Toyota alloys will go to a good home, interior trim is sold.
I'm sure we'll find buyers for lights etc.
I have an offer of $100 for the Starfire motor. Anyone know if the gearbox in the Corona was from Holden ?


Colin

Can’t give you legal advice, but would suggest you just need to present your case and go from there. If you don’t get the response you like then you should probably seek a legal opinion or go back to RACV for advice.

Originally Posted by gromit

. Anyone know if the gearbox in the Corona was from Holden ?


Colin

My memory ain't what it used to be ( what is? ) but I think the answer is no. Holden made their own gearboxes back then, but the Corona used a Borg Warner, assuming it's a manual... hard to imagine this car with an auto from that period, but Nissan did give us the auto Sunny, so anything is possible I guess.

You'd think the Starfire ( the trade called them Backfire... ) would be worth more, due to it's comparative rarity, but who is doing up these cars these days? Wrecking, ,ok dismantling, Jap cars used to be quite lucrative. Datspares and Japwreck here in Melb used to thrive. Those days are gone.