Insurance Question.

[BenWall]

My girlfriend has just written off her car. She payed £1500 for it and she put that it is worth £1500 on the insurance, its fully comp etc.

She has had the car about 2 weeks if that same with insurance, the insurance costs £1200 and is paying it monthly.

She crashed into a van and it was her fault the van will also be claiming.

I have told her that the insurance company will wont the remaining money that is outstanding for the year and this will come out of what the car is worth so I said she will probaly get around £200 back, but I dont know if I am correct. She also thinks the car is worth than what she paid, she thinks its around 2k. (I dont think it is) and she thinks that when the car gets looked out tomorrow to see how much its worth etc it will come back more than 1.5k and that she will get more back because of this.

I said that is doesnt matter as she said its worth 1.5k on the insurance and cant be more than that.

Its complicated I know, but how does she stand?

Thanks chaps and ladies.

 

[Black Gold 182]

hello,i think you are right with your assumption as i have had to ask this question to my insurers (long story but ive had to get rid of the 182 for a megane diesel,the girlfriend needed a more practical car for work.) anyway from what they said to me i imagine she will have to finish paying her premium by deducting it from the amount they will give you back.sorry its probably not what you wanted to hear

 

[Vish]

I was paying monthly for my insurance (interest free ) and when I had a non-fault accident, they asked me to pay the rest of insurance I owed in full and only then would they pay me out for my write-off. I laughed at them and said I'm not doing that, just pay me out and they did! Push them as far as you can, you might get away with it like I did.

With regards to the amount you'll get, they tend to go by current market prices (parkers and autotrader) to determine your car's value. I was pissed off that I didn't get anything extra for the new brakes fitted 2days before accident, but I didn't complain much cos they saved my life, old pads crumbles as they were removed :s