Recieved a standard estimate for a payout. (From a market guide) Should I just accept this or should I run a dispute to squeeze a bit more put of the insurer?
I'm not that fussed but wondering if I'm just leaving money on the table and a savvy consumer would push for more. Is it even a thing to do? First time auto claimant.
OP didnt say its an agreed value policy
Sounds like its market value which is always subjective and hence contestable.
Typicaly insurance companies will always offer the MINIMUM and unfortuantely most people just accept that figure.
OP needs to do some research to find out whats taken into account in establuishing market value.
OP also needs to supply evidence supporting any claim or dispute.
Its not just a matter of "I dont agree"
Should I just accept this or should i run a.dispute to squeeze a bit more put of the insurer
Why not try and find out? What's there to lose?
Why not do some actual research first.
He /She is , on this platform ⁉️
Rebel!
Ill get on it.
what car and what payout did you get
What is the payout vs second hand of the same make and model? Is there much difference?
Nah its a legit offer. Im unfamiliar with the process is all. I didnt want to just accept and then have friend "x" say "oh u never accept first offer, no one does that, areu crazy?"
Would be great if someone could show those of us who don't know this stuff where to go and what's possible.
Personally, we all have comprehensive insurance with agreed value, but insurer told us agreed value, I wouldn't have a clue where to go to find an unbiased value for my car.
I wouldn't have a clue where to go to find an unbiased value for my car.
Finding out the average through Redbook or what is listed on Car Sales.
op should list their car for $100k on Carsales, and then show them the listing and say you want this much
Would be great if someone could show those of us who don't know this stuff where to go and what's possible. Personally, we all have comprehensive insurance with agreed value, but insurer told us agreed value, I wouldn't have a clue where to go to find an unbiased value for my car.
Have you never bought a second-hand car before?
Just look at car sales etc, see how much it would cost to buy the same car now. Go back to insurance with this price.
If only we lived in a sane world where this was the case…
It is the case, this is exactly what you do.
That's exactly what my sister did when her car was stolen and subsequently trashed. She was offered one figure but went back to Youi with details of listings on carsales of the same make and model, backed by an AutoEdge report, and was able to get her payout offer revised upwards.
@miwahni: Yep, I've done the same thing, but as a third party. A little bit of effort is worth thousands.
I'm not that fussed but wondering if I'm just leaving money on the table and a savvy consumer would push for more.
A savvy consumer would do their research on what their car is worth and push to get equal or higher payout.
The fact that you haven't done any research nor listed the car make/model, odometre, payout amount means you are actually not a savvy consumer.
The fact that you haven't done any research
Disagree, OP asked the OzBargain hivemind which is essentially peer reviewed research of the highest quality.
You mean a lazy consumer
Its all down to the car. If you could not buy similar for the offer amount, then you need to try to get more. If it is fair market value, take the money and run.
There is ALWAYS someone who is gonna tell you you could have got a better offer - but what do they know? And have they been through thw same before?
Market value is a scam. It doesn't take into consideration actual market value to buy the same car. Since COVID, used car prices have changed considerably but Redbook have not updated any of their valuations. E.g. To re-buy my car would cost $20k based on Carsales but Redbook/Insurer 'market value' is closer to $10k. 50% difference!
Squeeze! Show them your Ozbargain badge!
Go to Carsales,
Find a car with similar K's, year and spec and there's your value. If in doubt get the redbook value but a lot of the time these aren't exactly correct.
My gut is that they'd start by lowballing you.
Would that be for cars that have actually sold only?
i had invoices for fitted accessories i couodnt recover. i presented them and they paid out 50% off the supply-value of the accessories, in addition to their estimate.
I pushed back showing 3-4 lisitngs on car sales demonstrating actual market value and after 3 months of escalation. My payout was raised from $12k to $22k.
Worth the hassle, but they make it intentionally hard and had to get inssurance ombudsmen involved to have it escalated.
Agreed Value always, but good luck getting more.