I doubt it. After writing to the insurer of the offending party, the initial amount of £350 was upped by £295 and I have received both cheques but not banked them.
Are you able to answer my specific questions? I don't think I can get anymore from the insurance company. I just want to know how I lose ownership of my car in a case like this.
In our extensive search for replacement body parts since mid January, which included looking to buy a similar car for about £500, nothing has been found. At present no cars of the same spec are on the market. The insurance company's valuer used Glass's Guide for his assessment.
No. Estimated cost of repairs is £1,200. I have received two cheques totalling £645, so am likely to be short £555.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please?
Thank you for this. However, you haven't answered my two questions:
1. How can the insurance company assume ownership of my car?
1. If they pay you out, then they own it
2. Is the vehicle's market value the only value that counts?
They have paid for your car
In short you should be put back in the position as if the accident did not happen
So, therefore, I shouldn't bank the two compensation cheques; repair the car and, if necessary, go to court if not fully reimbursed for the repairs. Is that right?
Does that clarify?
Yes, it does. Thank you. I shall give it a go.