Torch Motor Policy at LLoyds
Advantages Competitive at the Time
Disadvantages Did Not Replace the Car New for Old if Written Off within 12 mths
The Author
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12/02/2001
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05/01/2001
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My partner bought his car insurance through this company for the first time last year. We were unfortunate to be rammed 10 mths later and have our car written off. Three months later we are still waiting for our money. They are sending us pathetic letters, trying to waste as much time as possible, offering us almost £6 k less than we paid 10 mths previously. I am at my wits end, is there anybody out there, that can offer me advice as to whom to contact etc ?? We have a solicitor but he is only able to deal with our personal injuries claims. The Insurance company asked us to send them private adverts for the same car with same mileage etc. I sent them cars from garages as I was unable to find the same model privately for sale, and they are refusing them. I am at my wits end, and appreciate any advice similar readers that ended up in our situation can offer me. Did anybody else have a difficult time with this Company
Many thanks
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I would say that the best hope you have is to contact the Insurance Ombudsman. The organisation basically regulates any complaints against the insurance industry and will investigate the situation for free. I had a problem settled regarding credit card fraud that recovered the full amount lost and paid me £500 compensation, without having to go to court. The insurance ombudsman (IOB) has a webiste - www.theiob.org and you can contact the advice centre on 020 7964 1400, or via the website. I suggest that you write to the MD of Budget as well as whoever is handling the case and make wure you mention you are going to the ombudsmen. Given that the car was 10 months old, however, it is unlikely that the insurance company will pay the full amount. The price of cars drops sharply as soon as they are driven and the company is likely to pay out only enough for you to buy a 'nearly new' version of the car. Try lookin on autotrader.co.uk for adverts or parkers.co.uk for a rough guide as to how much your car was worth as a 10 month old pre crash.