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Case study - vehicle valuation dispute

This case study focuses on how our claims team handled a valuation dispute after our client’s vehicle was undervalued.

Problem  |  After our client’s vehicle was stolen and recovered, the claim involved a vehicle valuation dispute with the Insurer. The Insurer physically inspected the vehicle but its conversion into a refrigerated van was not taken into account, despite the Underwriters being aware of this modification. 

Solution  |  Although the initial valuation was increased, this was again disputed but the Insurer would not budge. Regardless of the fee involved, we decided to obtain a valuation from an independent Engineer – this came to a satisfactory sum.

Outcome  |  As a result, the Insurer agreed to settle the claim based on the independent valuation and reimburse the cost of the Engineer’s fee. In not accepting the initial settlement offer and providing a viable alternative, we helped the client prove the initial valuation was low and managed to get the Insurer to increase their offer substantially.

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Eastwood Insurance Brokers is a trading style of Eastwood and Partners Ltd, authorised and regulated by the Financial Conduct Authority. Registered office: Northumberland House, Northumberland Street, Huddersfield HD1 1DT. Registered in England and Wales company no. 2560460.

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