Blind insurance valuation & settlement after prang........

Blind insurance valuation & settlement after prang........

Anyone ever heard of this???

Long story short (well, short-ish!).

My F was parked stationary in a car park and another vehicle reversed into my rear passenger quarter panel and bumper causing some paintwork damage mainly to the bumper along with some scuffs to the rear passenger wheel arch.

Fortunately, we were coming back to the car and caught the driver in the act as she was about to drive off. We shouted at her to stop and yelled "you've just reversed into my car!!" and she did. Not sure she actually felt it as she was driving a big Vauxhall Insignia and the impact speed must have been minimal.

Anyway, we exchanged details and I'd been waiting to hear from her insurance company for a few days, finally got a call yesterday with an offer of resolution which I was not really familiar with. I'll explain:

So, the girl comes on the phone....tells me that they can offer me what they termed as a "blind valuation and settlement" - the upshot of which meant they would put a blind value on my car, take off the scrap value and send me a cheque for the difference and I keep and repair the car myself.

At first, I was sceptical of this being a Category D insurance write off, but after a long conversation with the insurance company, they assured me that there would be no detriment to my car and nothing recorded to indicate anything remotely to do with insurance write off.

She promised to call me back Today with their "blind valuation" figures and she did so. I was expecting a really measly figure, given that my car is a base 1.6 2001 Y plate F, so I was prepared to argue over condition etc etc.

As it worked out thus far, the "blind" figure they put on her was £1,545. She then went on to say that as I'd be keeping the car, they'd have to take off their "scrap value" figure which was £315 - which I thought was a bit steep.

The upshot of it all - as I gather - is that I get to keep the car, it is NOT classified as any kind of insurance write off and the insurers send me a cheque for £1,230.......

I've got them to confirm via email that insurance write off is NOT happening and I have saved that just in case. She said that it did not matter if the cost of the repair was less than this figure and if it was, I simply keep the extra money if it is cheaper to repair - no need to pay it back.

To be honest, I was kind of gob smacked - the cost of the repair is no where near that kind of money, so in a manner of speaking, I'm on to a right winner.

Just wondered if anyone else had heard of this kind of insurance settlement?

Let's block ads! (Why?)

Blind insurance valuation & settlement after prang........