Insurance Payouts

[AcID ZeR0]

I was just enquiring for a mate, he left his car in an unsecure overnight carpark on Friday night and it was torched during the night completly gutted the car, he was wondering how long does it take for the insurance to stump up with the money as he's without a car completley now, its declaired value was £4700 what would he expect back.

Cheers folks

 

[chris c]

Will he not get a courtesy car in the mean time?

They normally make an initial low offer and hope you accept it. Tell him to refuse it and demand market value. They'll normally pay what it's worth in the end.

Declared value means nothing though.

How long it will take is anybody's guess. Depends on the circumstances and the company. Could be weeks, could be many months. Sounds like an open and shut case to me though so he should be ok, unless they get suspicious that he did it himself.

 

[AcID ZeR0]

Coolness cheers mate, no he declined the courtsey car option as it was an extra £40 a year.. not saying anything lol!

Shouldn't be a problem with suspision wise to be honest, the car was a near enough mint example.

 

[Matt_Pleece]

If He's TPFT or Fully comp see no problems claiming, my write off took between about 2 weeks to a month to payout. Whatever the first offer is however good or bad refuse it!!!! they will pay more remember they are a business and are looking to make money, not pay it out.

 

[sh33n]

It might help for him to gather up adverts of other cars with similar mileage / age that are over priced

 

[xshexisusannex]

your talkin 2 weeks! Enginner go out value it, u argue over it, then u must send all your docs log book mot they run miafter checks on it, if theres outstanding finance they pay that first then the remainder to you if not all goes to you instruct salvage recoveries and notifie the dvla, if u get ur docs ready and send them in now it will save some time if u need a quick pay out atleast they have them on file while u argue values so that when its agreed they can jst put a cheque on for clearence, mst places ask for V5, MOT, Purchase receipt and Service History. well we do anyway

 

[xshexisusannex]

Oh n if u have a prvate reg thats a whole diff ball game