weldted Posted May 27, 2020 Share Posted May 27, 2020 My understanding is that you should be left in the position you were in prior to the event, so no element of profit or loss. Obviously the insurance company will have a different value to you. I would be tempted to take the offer, you may well be in a strong negotiating position as a cash buyer for your next motorhome. Link to comment Share on other sites More sharing options...
BruceM Posted May 27, 2020 Share Posted May 27, 2020 When we insure a vehicle we estimate it’s current value. That doesn’t mean that that value will be paid if the vehicle is a right-off. Instead the insurer will pay for what they think it the minimum cost to replace the vehicle. I appreciate that you feel you will have to pay more than you paid your van. So firstly I’d say that if you’ve had the vehicle a while and you’re getting back what you originally paid then you’ve done quite well. The loss adjuster's job is to minimise the cost to the insurer so has pitched the offer to be marginally attractive. Personally I’d be tempted to go back to their loss adjuster and say that you’re disappointed by the offer given the van’s value but to draw a line under what has been an unpleasant experience (you’ve been the victim of crime remember) you would probably find the offer acceptable if they also waived the excess. The alternative, ie fighting for the fully insured amount, may well have a successful outcome although it will be time consuming. I think that there's an element of a bird in the hand etc. Link to comment Share on other sites More sharing options...
james-maclaren Posted May 28, 2020 Author Share Posted May 28, 2020 Thanks Bruce, yes I tend to agree with you re a bird in the hand..... Though I had the MH for less than a week! Link to comment Share on other sites More sharing options...
Bulletguy Posted May 28, 2020 Share Posted May 28, 2020 james-maclaren - 2020-05-27 5:37 PM Hi, The Brownsword Group have been appointed loss adjuster and have offered me £19750 less my excess. £19750 is what I paid for it. This is a without prejudice settlement figure. Clearly they don't know that ERS have voided the insurance. I am being asked if I want to accept this offer. Given the circumstances I am tempted to say yes, but as I am likely to have to fight ERS through the ombudsman should I be looking for the amount I insured it for which is another £1000? I suppose what I really want to know is, is the amount I paid for the MH as much as I can expect to receive? As always, I appreciate your feedback. James Having read your op and what you paid, i'd snap their hand off at this offer without hesitation. It's not even worth trying to barter to hopefully squeeze another few quid out of them, not to mention the expense it will save you taking legal action. Link to comment Share on other sites More sharing options...
james-maclaren Posted May 28, 2020 Author Share Posted May 28, 2020 Ok, I have done this. Thanks for confirmation of my own thoughts. Keeping my fingers crossed. James Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.