[ade100000]

Hi everyone
my car was hit and written off by a falling tree (side issues on negligence/legel cover/and how quickly insurers write off cars! but that's another three subjects!)
the insurance company have lowballed me, changed the excess and the issue is with the fos now
my argument is that mkt value needs to be reality not mkt guide book and my car (2014 but with less than 34k on the clock) is very rare (90%+ nothing equivalent anywhere in the UK) - and we need to (i) look at newer cars -
fos stage 1 was basically a waste of time (the insurer said---please go away - i know they are goaled on throughput)
i have been told that in stage 2 they actually look at the evidence and mine is based on (i) 2014-2015 cars at low mileage not available or sold in hrs (ii) then up to 45000 miles (33% More mileage) and how many cars can be bought in each price band (£6k and under, £7k and under etc)

any experiences of fos stage 2?

[olduser]

If think you have made their point very well - the market value is just that, the price that any dealer would expect to buy in your car at, that being a fair compromise.
Rare cars that everyone want's to buy will increase the price but rare cars that very few will buy will lower the price.
There is usually a little room for negotiation but it looks as though you have exhausted that.

[NMNeil]

Your car is 12 years old and most manufacturers only make spare parts for 10 years.
So the stock of original parts, especially body panels has dwindled. For some models the slack is taken up by the aftermarket but that is only for the run of the mill cars, not the 'rare' ones, and the body shop will spend hours making the panel fit properly; because they never do. This makes repairs uneconomic so it's cheaper for the insurance companies to just write the car off.
Looking on the internet the labour rates for bodywork in the UK is 50 quid an hour, and matter how much the repair costs you will still have a 12 year old car that will now be worth less than before the repairs.

[Beelzebub]

Originally Posted by olduser

If think you have made their point very well - the market value is just that, the price that any dealer would expect to buy in your car at, that being a fair compromise.

AIUI the "market" price the Ombudsman expects to be used is the retail price (as given in Glass's etc.), not the trade one. I,e, the price the punter should expect to pay for a direct replacement.

As said, rare cars are more difficult.

[Rolebama]

I have in the past insured cars under agreed values as Cherished. They usually wanted 4 photos of the car from sides, front and rear, as well as interior shots. I never claimed on any of these policies, but did have it in writing as to the agreed value. I can only suggest that if you ever again buy a rare car, you look at agreed value insurance.

[ade100000]

@Beelzebub thanks "the "market" price the Ombudsman expects to be used is the retail price (as given in Glass's etc.),

my belief is that the insurance industry has got away with "trade price" for ages - and in my case went "old - whats an old car worth"" with no consideration of rarity (which means mkt value is almost impossible to establish as the mkt is so thin - therefore we need to expand to see what is the nearest available (and they have refused to look at newer cars and FCA regs say they should as i should not be punished for scarsity) funny i am on 3 ai sites and they all seem to be zeroing in on the same conclusions that ive got a very good chance (though chatgpt "thought" if thats the right word! that the insurance co might try a pre-emptive offer - and didnt warn me how useless fos stage 1 is -until it was!)

[ade100000]

2014-2015 cars with low mileage dont exist (or V rarely- as my evidence shows the VERY few that do appear go within hrs) hence a valuation which would force me to buy a 2014-2015 car with substantially more mileave doesnt restore me to my prior position - if (using facts!) the FOS accepts (i)2014-2015 low mileage mkt is ultra thin/non existent therefore cannot be used for mkt value - then (ii) they have to look at newer cars -
I looked then at u45kmiles (substantially more) 2014-2020 with "how many cars can 7k/8k/9k et get me--- just depends on whether avivia and its 3 cherry picked examples (none shown to me and one they admited had already been sold) is superior evidence to my extensive research

[olduser]

But, all this is covered by the terms and conditions of your contract, in signing the contract you agreed to market value.

Your logic is valid but insurers are in the game to make money.

[ade100000]

they define mkt value as similar age similar mileage- -how do you establish mkt value when the mkt is so thin?