AMSMAN
Topic Author
Posts: 975
Joined: Mon Jan 28, 2002 6:24 pm

Insurance Claim Advice Needed

Wed Dec 19, 2007 2:11 pm

Hey guys, how’s everyone. Ok, so here’s my problem. Last January I bought a brand new car. Cost me €20k. 3 weeks ago I was rear ended by some guy in a jeep and I ended up being pushed into the guy in front and now the car has been written off. The pre-accident value of the car is €17k. After much deliberation my insurance company have come back and told me that because I got finance on the car that I have to pay them back first and I get the remainder (which is nothing as I still owe €16,950 on the loan)!

My solicitor tells me that seeing as I’ve been cleared and it was in no way my fault, legally, I am entitled to be put back into the same position I was in before the accident. I just don’t understand how I can be put back into that position seeing as I wont have any money to buy a new car. I do know, however, that I will be able to re-apply for finance seeing as I’ve cleared that loan off, but those new cars cost more than €17K so if I was to go down that road I’d have to fork out more money! As I was the person who originally bought the car new, I’m not settling for a second hand model!

What’s your take on my situation? What do you think I should do?

Sorry if this doesn’t make sense I guess the real question I’m trying to ask is, how come I’m still the one who ends up in the sh*t when it wasn’t even my fault!

Cheers guys!
Aer Lingus, Proud to be Irish.
 
IFEMaster
Posts: 4164
Joined: Tue Feb 21, 2006 5:17 am

RE: Insurance Claim Advice Needed

Wed Dec 19, 2007 3:48 pm



Quoting AMSMAN (Thread starter):
What’s your take on my situation? What do you think I should do?

Well if you've sought legal advice, and your lawyer is certain of the insurer's obligations, then push for replacement value. A similar thing happened to me several years ago in a car that was a couple of years old but still had some loan on it to pay off. The 'gap' insurance on my policy covered the shortfall between vehicle value and remaining finance, then the replacement value of the car of paid out, so I ended up with a new vehicle.

Insurance companies always want to pay out the smallest amount possible. If you have a good solicitor, then have him write to them and push the issue. While they want to maintain their bottom line, they also don't want to go to court. You should be able to get what's fair.
Delivering Anecdotes of Dubious Relevance Since 1978
 
checkraiser
Posts: 814
Joined: Mon Mar 14, 2005 1:35 am

RE: Insurance Claim Advice Needed

Wed Dec 19, 2007 3:58 pm



Quoting AMSMAN (Thread starter):
Sorry if this doesn’t make sense I guess the real question I’m trying to ask is, how come I’m still the one who ends up in the sh*t when it wasn’t even my fault!

Maybe it works differently in Ireland, but here an insurance company only has to pay what the car is actually worth. Since your car is almost a year old they can say it's worth 3k Euro less than new.

There are usually ways to appeal their appraisal of your car if you feel it's less than the car's fair market value. However, you won't get what you paid for the car.
N1120A is a camel-fucking terrorist.

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