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ED054
Couple of thngs to point out…..
You say “As you are not VAT registered why should it be paid by you.” I have to pay VAT, no way of avoiding this – legal requirement.
I don’t feel that I should profit from this deal, I never said this or gave the impression that I wanted to profit from this, all I want is the amount the insurance company assessor agreed.
To put me in a position prior to where I was before the accident the assessor offered me a figure of €3,500.00 - he now wants to deduct the VAT – this leaves me with a shortfall of about €500.00
When speaking with the insurance regulator the person I spoke to constantly referred to the insurance company and the regulator as “we” and I was referred to as the third party, I suppose this is what you get when the insurance regulator is funded by the insurance companies. If the insurance regulator is even 50% better than the financial regulator then we may as well all give up dealing with them, we all know how lax the financial regulator was with the banks and did nothing to stop the rot and corruption there, I wonder is the insurance regulator any better? (just a question, not libelous in any way J).
Let me present my argument another way…..
My car is stolen and written off, the assessor agrees a figure of €20k with me, I say great send me the cheque and by the way, I am not buying another car I have decided to cycle to work in future, do they deduct the VAT from my payment?
My freezer fails when I am on holidays, in it there is €500.00 worth of steak, I decide to replace the steak with pork chops worth €200.00 – do they deduct the VAT on the €300.00 difference?
My Rolex watch is stolen, worth €3k I put in a claim but decide not to buy a new watch with the money, do they deduct the VAT?
I put these three questions to the insurance company and in each case the answer was NO, we will not deduct the VAT in these cases.
I asked them why the repair was different and their answer was “it’s company policy”. This is not an acceptable answer, there must be a fuller explanation as to why they treat accident damage differently to any other claim.
ED054
Couple of thngs to point out…..
You say “As you are not VAT registered why should it be paid by you.” I have to pay VAT, no way of avoiding this – legal requirement.
I don’t feel that I should profit from this deal, I never said this or gave the impression that I wanted to profit from this, all I want is the amount the insurance company assessor agreed.
To put me in a position prior to where I was before the accident the assessor offered me a figure of €3,500.00 - he now wants to deduct the VAT – this leaves me with a shortfall of about €500.00
When speaking with the insurance regulator the person I spoke to constantly referred to the insurance company and the regulator as “we” and I was referred to as the third party, I suppose this is what you get when the insurance regulator is funded by the insurance companies. If the insurance regulator is even 50% better than the financial regulator then we may as well all give up dealing with them, we all know how lax the financial regulator was with the banks and did nothing to stop the rot and corruption there, I wonder is the insurance regulator any better? (just a question, not libelous in any way J).
Let me present my argument another way…..
My car is stolen and written off, the assessor agrees a figure of €20k with me, I say great send me the cheque and by the way, I am not buying another car I have decided to cycle to work in future, do they deduct the VAT from my payment?
My freezer fails when I am on holidays, in it there is €500.00 worth of steak, I decide to replace the steak with pork chops worth €200.00 – do they deduct the VAT on the €300.00 difference?
My Rolex watch is stolen, worth €3k I put in a claim but decide not to buy a new watch with the money, do they deduct the VAT?
I put these three questions to the insurance company and in each case the answer was NO, we will not deduct the VAT in these cases.
I asked them why the repair was different and their answer was “it’s company policy”. This is not an acceptable answer, there must be a fuller explanation as to why they treat accident damage differently to any other claim.
Just got a letter in the door, the insurance company have waived the policy excess if I leave the VAT element alone (and dont stir thing up I presume), leaves me about level.
They really dont want me to open a can of worms on this subject.
Does this figure include VAT?Too expensive, they say they will look for about €1,000.00 to progress this.......not worth takikng a chance on.
Does this figure include VAT?
One of the points that is being missed by everybody is that if I make a claim against another persons policy they pay in full on the estimate (including VAT), if I make a claim against my own policy they deduct ther VAT. Their reasoning seems to be that if I am making a claim against another persons policy they have to pay out in full even if I dont get my car repaired, they are legally bound to pay the claim in full.
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Even if you make a claim against someone elses insurance policy, the company involved is still going to look for an invoice/final account for the work done! There is a difference between claiming for repairs and cash-in-lieu of repairs!
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