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Why is my car valued as worthless by my insurance company?
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Why is my car valued as worthless by my insurance company?

my car when i first insured it was valued as £1000
but it was vandalised the damage was a valued as £500 to fix it
but my insurance company then didnt pay out anything to me as they said the car was not worth it.
why am i paying fully comp insurance when insurances companies dismiss my car as worthless everytime it comes to making a claim?.


; - }
Sadly, they're looking at the value of the car as a saleable item, not what value it holds for a person using it. They can't sell it for anything so they list it as worthless but you use it daily and pay dearly to insure it, so it has a great value for you. If you can, I suggest that you find a different insurance company. Why continue paying your current insurance company if they aren't honoring the agreement they have with you?

barn owl
more information required you do not say how long ago it was worth £1000 and what condition it was in frankly I cannot see the point in insuring a car fully comp at that value

if your policy excess exceeds the value of the vehicle, then they will not pay out.

When cars or trucks have been in a accident or been vandelized and it cost more than 70% of total value of the auto the Insurance Company will count it as a total loss, you only get a appraised value, it's not right but that is how it works.

Unsure about there -- in the States if cost of repairs exceed the value or a set percentage of the value, the vehicle is declared a total loss and the insurer pays you the ACV (actual cash value) for your vehicle. Could be that this is the same case or you have a large deductible.

Mark B
Insurance companies can only go by the book price as to whether its worth repairing or not. I can insure my old cavalier for £1000 but in reality it will be lucky to be worth half that in true value.

So if I claim my insurance and the cost of the repair exceeds very little combined with the cost of them supplying a courtesy car then my car will be written off for perhaps £150-£200 damage.

Marcie E
You shouldn't, you need liability only why cover a car that has no value? You don't have to cover the car in order to cover your personal liability. Just call your insurance provider and set up a personal insurance review and they can go over all of your options.

Because your car IS worthless as far as the insurance company is concerned. With a car of such a low value, it's not worth carrying fully comp cover. It's really not worth carrying TPF&T either. Stick with TPO (statutory cover) and save some dosh.

If your excess was £500 or more, they would not owe you anything on a claim of £500.

jimmy t
It may help if you told us the make,model and age of your car. The insurance companies are there to make money not be kind to people. The first offer the insurance companies come out with are always there to rip you off, get together some advert from auto trader,loot, free ads etc to show them how much it would actually cost to replace and send them in. The other problem you may have is that because you are fully comp you will proberly have a large excess on your policy.

It is completely unfair for it to be against the law for people to drive uninsured only to have to pay extortionate amounts to a profit making company.

is your deductable 500 or more that is why you may have not been paid !

Don't accept this. It is their way of trying not to pay up

Your car will have some value and they know it

If the car is uneconomical to repair then they are duty and law bound to make you an offer in view of the current market forces to either return your car repaired to its pre-accident condition or offer you compensation to it's market value

Ask for a claim supervisor and if they won't help ask for a manager and so on til you either get reasonable satisfaction or the top man

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