depreciation disagreement with insurer

T

thegatee

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Hi,
My car damaged by insurers client, insurer has agreed quote to repair car but when issue of depreciation on my car came up they offered extra €300. Car will actually lose value of about €3000. what can i do???? I know insurers quote is based on cost of repair minus VAT and depreciation value is 5% of that calculation. Is there any way of increasing their offer.
 
its amazing how much a car depreciates in value if you are NOT at fault in the accident. If you hit a wall, funnily enough, it dies not seem to go down as much.

usually the depreciation is calculated as a percentage of the repairs, less the VAT. If the car was very new, sa yonly a few weeks old, then it might be possible to argue the depreciation on the entire car.

how old is your car?

up to 10% of the ex VAT repair figure seems to be the usual rule. However, in UK at one stage, if an old car was replaced with new parts, then the thinking amongst some people was that the car had been bettered and no depreciation was given. I do not think that this argument ever took off here though.
 
Thanks Ravima,
got advice to contact an assesor of my own. He adviced me that the cost of him assessing the car on my behalf is something that will be paid by their insurance company. His opinion is that the calculation should be 20% of repair minus VAT. By the way the car is a 04 BMW. And your right its amazing how cars do and don't devalue in the eyes of an insurance company!!!!
 
Hi. I am a motor insurance claims handler. Regarding the assessor fee. This will only be paid if he has proven that your vehicle is worth more than their insurance company valued it at. As far as depreciation goes you can forget about 20%. You will be lucky to get 10% of the ex vat repair figure for a 4 year old car. Do you mind me asking how the accident happened. Were you in the car when it happened. If so they may throw in a nominal amount if they think that you might claim for a personal injury
 
IME the depreciation figure is 10% of the overall repair bill. The VAT deduction on repairs only applies if OP is VAT registered (unless of course my last two claims, negotiated by my solicitors, were against insurance companies that can't do sums).
 
Thanks for all your input, much appreciated. I know I may be fighting a losing battle but its down to principle really. I am the innocent party whose car parked on the side of the road was damaged and now i'm being told that i must suffer the depreciation cost of roughly 3k, with the insurer telling me thats just bad luck. I honestly can't believe that I must pay money on a yearly basis to what is basically a cartel of insurers who through biased policies take no risk but amass massive profits in their respective industry.
 
the insurer of the chap who hit you must make a payment and certainly took on a bad risk in taking that chap on!
 
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