My Insurance company value my CSL at £19500

[Vito]

Hi All

On the 09/04/10 I crashed my CSL straight into a wall head on it was so bad they had to cut the roof off to get me out. I spent the night in hospital and the next day got out and was back to work within 2 weeks. So all good until this morning when the insurance gave me my offer £19500. I asked the guy if he was joking but he said no that was there offer that is the glasses guide value.

Can anyone help me with this has anyone had experience with an insurance company dealing with a write off value.

Details on my car for a value (what do you think)

BMW M3 CSL 100% original
Silver Grey
Reg date 30/09/04 build date dec 2003
3 previous owners
39000 miles
Spec
BMW Business CD
Rear park distance control
Cup wheels
Air Con
Xenon lights
All books, keys and owners wallet as new
Just serviced Feb 2010, Tax, MOT, wheels refurbished and had a full detailed valet

Full BMW main dealer service history
Pre-delivery check 29/09/04
Running-in check 1062 miles 04/01/05
Brake fluid 7124 miles 10/04/06
Oil service 10,317 miles 15/02/07
Brake fluid 23,968 miles 05/05/08
Inspection 1 / Micro-filter 23,968 miles 05/05/08
Oil service / Micro-filter 36,930 miles 16/02/10
Brake fluid 36,935 miles 17/02/10
I sent everything to the insurance they required
V5 reg doc/MOT
All Keys
FBMWSH service book
Copy of my licence
Original cert insurance
Photos of my car before and after the crash
I printed of all the CSLs for sale on piston heads and auto trader as a guide with around the same miles.
CSL buyers guide
Please help my car must be worth more than £19500
Regards
Vito

[Dan]

Hi Vito,

When you disagree with an insurer on the pay-out value your best bet is to demonstrate to them that similar or even identical cars are worth a lot more than what they are offering.

It seems as though you've already been able to find other CSL's for sale, I assume you've sent this in, what was the outcome of this first of all?

Feel free to ask away with any queries and I'll help as much as possible, I've been dealing with these idiot insurance companies for 10 years now!

[Vito]

Hi

I sent in adverts printed from auto trader and PHeads with similar identical cars. Thanks for all your help I think I am going to hand this over to my solicitor.

And I have just checked with a friend that is in the car trade the CSL is not in the Glass guide the insurance company are talking rubbish.

I had the car insured for £25000

Thanks

Originally Posted by Dan

Hi Vito,

When you disagree with an insurer on the pay-out value your best bet is to demonstrate to them that similar or even identical cars are worth a lot more than what they are offering.

It seems as though you've already been able to find other CSL's for sale, I assume you've sent this in, what was the outcome of this first of all?

Feel free to ask away with any queries and I'll help as much as possible, I've been dealing with these idiot insurance companies for 10 years now!

[mattCSLnut]

Originally Posted by Vito

Hi

I sent in adverts printed from auto trader and PHeads with similar identical cars. Thanks for all your help I think I am going to hand this over to my solicitor.

And I have just checked with a friend that is in the car trade the CSL is not in the Glass guide the insurance company are talking rubbish.

I had the car insured for £25000

Thanks

Sounds like a reasonable action to take (appointing a solicitor) after the shoddy service you've received from the insurance Co. when it mattered most. Even @ £25 000 that's a very conservative estimate for your car + you'll have to pay excess from that. CSL prices seem to be slowly going up so there isn't a lot of choice in that price bracket. IMHO £26 000 - £28 000 would buy you a "like for like" replacement for what U had. Best of luck

[md23]

Vito, gutted for you mate but glad to hear you're OK. As others have said the right value is min £25k. Whatever next, using webuyanycar.com for insurance values? Handing it to your solicitor is probably wise as this will show the insurance company you are serious and might help focus their minds/resolve the matter quickly...

Mark

[csl_mba]

Gutted mate, glad you are ok though

Sounds like the insurance payout is abouft £6-7k out imo. What are they using from the glasses guide (trade/private/good condition?). I think giving them examples is the best you can do really

Mark

[DuncanR]

Sorry to hear that news Vito, glad you are all mended yourself mate, hope that your Insurers come up with more money for you.

[shimmy]

£24-26 realistically is acheivable

dont settle and dont accept the offer

use the insurance ombudsman if you get no luck after you have justified your claim to them for the full value

[Dan]

Originally Posted by shimmy

£24-26 realistically is acheivable

dont settle and dont accept the offer

use the insurance ombudsman if you get no luck after you have justified your claim to them for the full value

The Ombudsman has a minimum 6 month backlog at the moment and he won't get anywhere until he has fully set out his complaint against the inurance company first, if he doesn't do this the the FOS (Financial Ombudsman Service) will just kick it out and tell him to go back to the insurer first to give them a chance to resolve the issue!

[cslgirl]

Sorry to hear that Vito! Glad you are on the mend.

This was my recent concern when insuring my csl as they said they went by Parkers guide. I questioned this as I asked how could they find one for that price,they then said to me to find one as I had owned, they may have to pay out more or less of the valuation I initially gave them.

Will they not replace it rather than give you the money? I would tell them to go find one with your spec for sale........