Market value?

[Tazz]

Man this thread has grown quickly. Some gems since I last looked

They are insured ... HE WASN'T. They have insurance to sort their own shit out dipstick.

And when their own shit is an accident they've caused...what happens genius?

Do you realize there is an insurance policy that even only covers accidents that are your fault? Do you even own a vehicle?

[bogan]

I don't really understand why drinking brake fluid isn't recommended - I'm sure a little bit of poison doesn't matter for your average human being.

Just a little is ok, and at least with brake fluid, you can stop anytime you want

[Oscar]

Just a little is ok, and at least with brake fluid, you can stop anytime you want

Reminds me of the time the cops caught two kids in the park - one was drinking battery acid, the other snorting gunpowder.







They charged one, and let the other off...

[ldcroberts]

well i rang a lawyer for advice this morning, he said yes I could claim lost income from work, yes I could even claim for the loss in value of the bike due to depreciation in market value as I wasn't planning on selling it, and yes I could claim for my travel costs since the accident while they are still sorting out the settlement.

Further discussions with the insurance company revealed that while I could claim those from their client, they wouldn't be footing the bill as they only cover him for direct losses assessed at their market value not consequential losses, so effectively going to disputes tribunal would mean they'd pay out the same, and he'd have to top up the rest, and if he was unhappy he'd have to take his own insurance company to dispute tribunal himself and probably lose and fork out to pay me the difference.

Anyway I've had enough of it anyway, took the payout, the other dude doesn't have to fork out himself (lucky him, maybe I'll get the karma back some day, although he probably doesn't even know any of this anyway), and someday I'll write a letter to one of the university law professors to look into whether the market value discrepancy I've explained earlier in the thread applies in NZ and then take it to the media if the insurance companies need to change.

Here's part of the response from their insurance company:

These additional costs are deemed consequential losses, and our policy does not cover these (for our insured or other party’s) however once the claim is completed you can submit these for consideration, we cannot advise what may or may not be covered at this time, as there may be costs accruing due to delays at your end, and we are not liable for these.

[Tazz]

Considering he wasn't a dick about it and people do make mistakes (part of life) that is the right course of action I'd grudgingly say, in the sense that the insurance company/money grubber has essentially said he is not really covered for much when all circumstances of an accident are considered despite a lot of bleating on here about how it is a vital part of motoring (which isn't completely wrong in some respects).

All in all it could have been a lot worse, you could be in hospital with broken limbs or neck as well as being out of pocket.

Keep us updated on any further info you get from whomever you contact.

[Gremlin]

Anyway I've had enough of it anyway, took the payout,

Pretty sure we'd covered this on page 1, but hey, 230 posts later, you got there!

[Madness]

...take it to the media...

I reckon the Paul Henry show is your best bet here, he's always looking for earth-shattering news stories.

[ldcroberts]

Pretty sure we'd covered this on page 1, but hey, 230 posts later, you got there!

plus the 51 emails back and forth with the insurance company, then there's the phone conversations prior to that including 1 whole hour talking to the valuer.

this was their fairly standard response to most of my concerns:

We are confident the process that has been followed is both fair and consistent with how we and other Insurers would respond in this situation.

Therefore, if you are still unhappy with this offer of settlement, I’d recommend your next step would be to initiate Disputes Tribunal proceedings to seek an independent ruling on this.

[discotex]

Well at least you can take some solace in the fact that you screwed them around (for no good reason) and made them earn their settlement... Probably cost them $300 dealing with you.

Wish you'd gone to DT though. Would have been a way more fulfilling end than the "yeah I could have totally won against the man but I was the bigger person" backdown.

Although if you do get a real legal opinion in writing do post it

[discotex]

Oh... And I'm quite surprised a lawyer would tell you that you can claim lost income from an accident related injury.

Read the law for yourself... Seems pretty clear to me.

http://www.legislation.govt.nz/act/p...DLM103473.html

(1)No person may bring proceedings independently of this Act, whether under any rule of law or any enactment, in any court in New Zealand, for damages arising directly or indirectly out of—
(a)personal injury covered by this Act; or
(b)personal injury covered by the former Acts.

[Mike.Gayner]

plus the 51 emails back and forth with the insurance company, then there's the phone conversations prior to that including 1 whole hour talking to the valuer.

this was their fairly standard response to most of my concerns:

Good thing your time has no value. My time, on the other hand.....

[ldcroberts]

Oh... And I'm quite surprised a lawyer would tell you that you can claim lost income from an accident related injury.

Read the law for yourself... Seems pretty clear to me.

http://www.legislation.govt.nz/act/p...DLM103473.html

the lost income was due to not having transport - it's too hard to get through traffic in a reasonable time without a motorbike - stuffed up my childcare arrangements when i had to spend 2 hours on a bus

[skippa1]

the lost income was due to not having transport - it's too hard to get through traffic in a reasonable time without a motorbike - stuffed up my childcare arrangements when i had to spend 2 hours on a bus

And the whole world must accommodate you and your inconvenience ......and all due to your own stupid decision

[ldcroberts]

And the whole world must accommodate you and your inconvenience ......and all due to your own stupid decision

sorry you appear to be speaking in too much of a riddle here, I don't get it.

[discotex]

the lost income was due to not having transport - it's too hard to get through traffic in a reasonable time without a motorbike - stuffed up my childcare arrangements when i had to spend 2 hours on a bus

The law says "arising directly or indirectly out of"...