Allianz Australia Insurance Limited
Queja 151262 Detalles

Dispute Details
Name of financial services provider: Allianz Australia Insurance Limited
Type of financial service: General Insurance
Special assistance:
Issue: FSP Decision
Interpreter:
How did you find out about us?: FSP I have a dispute with
Financial services provider's reference type: Claim no.
Financial services provider's reference number: 1710129838
Date the dispute was first lodged with the FSP: 13/12/2011
Have you received a written response: Yes
Has the financial services provider commenced legal proceedings: No
Details of your dispute: There was a police report of the accident. Allianz acknowledged that their policyholder smashed into and, by their assessment, wrote off our parked vehicle. Our Vehicle is a large commercial vehicle.(Ford Transit van, LWB, High Top, Diesel motor) with only 43,000 kilometers. The Compliance plate is Stamped May 2003 VIN# WFOLXXGBFL3D13578. It also had $1000 worth of Signwriting as it was used as a critical part of our annual Christmas products sales from our warehouse which were significantly down because of the loss of use of the vehicle as a very large sign. The vehicle was in very good condtion having only been driven by our directors since we purchased it new in July 2003 and had never been involved in an accident befor. Alliance used their regular sub-contractor to provide a low ball assesment of its market value based on its age. They slyly offered around $14,500 by phone and then later increased their offer to around $16,641 saying they had taken into account its low mileage and good condition. When I again complained Alliance invited me to justify a higher current market value, stipulating that comparison vehicles could not include comparisons from vehicles offered from car dealers as such prices could be inflated. (Whist their assessor said told me he valued it based on a same year model vehicle that he said he found offered by a car dealer) A diesal Transit Van is typically not replaced untill it has done very high mileage. And new 2012 models are almost exactly the same specifications as they were in 2003 models, apart from their current Condition. EVERYONE WHO HAS EVER BEEN INVOLVED WITH SUCH COMMERCIAL VEHICLES KNOWS THAT THEIR SECOND HAND VALUE AND REPLACEMENT VALUE IS DETERMINED PRIMARILY BY THEIR MILEAGE AND CONDITION. NOT BY THEIR AGE 2003 models available for sale at the time were offered for $16000 to $18000, however they were with over 220,000 Kilometers. (IE end of normal life). Nobody would swap a vehicle with 43,000K for a clapped out o
What do you think is a fair and reasonable resolution to the dispute?: THey offer $16,641.00. We offered to accept $32,000 + 1000 sign writing, + $2541 loss of use + current estimated $6000 net loss of business. Total $41,541

Best Allianz (the Insurance company of the Year) could offer was
Market Value - $19,300.00
Less Salvage - $1,350.00
Settlement - $17,950.00

They require me to sell the wreck and the best offer i have has is $200. So they lied about its wreckage value

I complaine to the so called insurance ombudsman, however it turns out that our pathetic government allows the insurance companies to provide an ombudsman totally funded by them ( a clear conflict of interest) who rejected my complaint because we are a company one of their many available reasons for not even considering complaints.
The NSW Financial Ombudsman Service is a total scam on the Public.