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jollygreengiant
By jollygreengiant | AA Member | 2 Posts | 12 December 2011 at 11:00pm

Hi

I had a manual Subaru Legacy Wagon (1995 on rego but appeared to be 1997 model) which was rear-ended at about 40km/hr while I was stopped at a pedestrian crossing. The vehicle is driveable but the repair costs are around $6000 due to the damage to the rear bumper assembly etc.

I am the second NZ Owner and the vehicle has been very well maintained and serviced for the last 11 years. The insurance company claims the vehicle is only valued at $2000 on the basis of car valuers reports but I have not found anything in comparable mechanical condition on Trade Me or elsewhere in 2 weeks,

Vehicles at this $2k price seem to be largely GT (Turbos) which are reaching the end of their life, while mine was a TS-R in very good nic. The vehicle was nominally insured for just under $4000. I'd welcome any advice on how to get a proper payout so I can secure a comparable replacement vehicle. Market value, one would think, was the cost of a replacement vehicle, Part of the problem appears to be that these vehicles are fairly rare so its hard to get an accurate value.

Any advice welcomed!

jbiddle
By jbiddle | Community Member | 1657 Posts | 13 December 2011 at 3:19pm

If you believe the car has a higher value then you need to be able to supply written evidence from a known and proven source challenging the insurance companies current valuation.

My understanding is most insurance companies are prepared to listen to another opinion however, it must come from a reliable source and not simply hearsay.

jollygreengiant
By jollygreengiant | AA Member | 2 Posts | 13 December 2011 at 5:53pm

Hi

Thanks for the quick response. I guess I am asking what counts as "known and proven" - eg is a record of sales on Trade Me or Turners "known and proven"?

There has been one equivalent sale on Trade Me in three weeks and I have now paid out for three AA reports on possible replacements - all of which confirm that vehicles at $2000 are in much worse mechanical condition.

While not quite as scarce as hens teeth 95-99 manual TS-R Subaru Legacy Wagons with moderate mileage are very rare, so it very difficult to get a sensible pattern of sales. Neither valuer could find an equivalent vehicle at the value they were quoting so I am at a bit of loss as to how to proceed.

Any specific advice much appreciated.

jbiddle
By jbiddle | Community Member | 1657 Posts | 14 December 2011 at 2:42pm

There is a company we know of that specialises in this sort of work.

Name and contact details are;

CAR VALUATIONS NZ LTD

Michael Hatch

0800 500 040