Car Written Off Question

vu5ter

Hi

Was wondering if anyone in the industry can offer any further advice.  3rd party hit my car and I have been dealing with the 3rd party insurance fault lies wholly with the 3rd party as my car was parked at the time.

Car beyond economical repair and they initially offered MV £2,500 less salvage value £450 net £2,050.  I rejected this and forwarded similar vehicle on autotrader for approx £3,500 and countered with £3,500 less £450 salvage net £3,050.

They've responded and said that they do not use advertising website but upped their offer to £2,733 but salvage is now £573.93 net receipt £2,159.07.

Is it correct that salvage price will increase if market valuation increase.  Secondly this appears to be their final offer as they said if I'm unhappy I should talk to my insurance company.  Will there be any merit in talking to my insurance company?

Many thanks for reading and any response given

Atavus

You could try your own Insurer in the hope of a better offer.

IronGiant

Are you intending to keep it?  otherwise I'm not sure why salvage value is relevant?

vu5ter

Yes as it was my dads car who recently passed away

mjn

The same happened to me

Hate insurance companies.

rousetafarian

Sorry to read this

vu5ter

Thanks Rousetafarian.  Crazy thing is I know it doesn't make sense to repair the car as I don't need it but it's just too soon for me to scrap the car.

IronGiant

Doesn't sound crazy to me, condolences.

Bl4ckGryph0n

Salvage value is typically a percentage of the market value. What confuses me is that they don’t use a consistent percentage. Perhaps they employ some sliding scale in it. Your insurance policy should give you more information.

But in short, yes it will vary.

Atavus

His Insurer is not providing the offer or the salvage value, it’s the TP Insurer. As such, the terms are not in his policy.