Insurance Valuation

[snerkler]

Pray tell.....................why are you so concerned thst your insurers won't give you a correct market price for your 2010 12GSA

Have you any evidence to the contrary?

I'm at a loss to see why you're worrying about a hypothetical situation

Have you declared your bike a total loss, in the last 7 days

No reason, it's just the way the thread went. I just wanted to check I'd got the right ball park figure for my insurance, others started talking about market value, and then curiosity got the better of me

 

[DING-DONG]

I think sometimes the only reason they ask you the value of the bike or vehicle is so that they can inflate the premium and regardless what you tell em they never pay that amount without a fight, i had a battle with a insurance co after i paid a premium based on the value of the vehicle i had stolen and they wanted to give me less than market value, because my mileage was high but they gave me a premium that was based not just on the vehicle but also how much you state its worth, so after i called the insurance ombudsman in to sort em out and in the end i get another chq for the right amount...

Robbing cnunts.

 

[seanb]

my new 2009 GSA got written off 4 days before it's 6000 mile service, insured with BMW, 10500 pounds payout (sorry, lost the pound sign!). Other parties' fault but BM paid me then pursued the claim. I argued about the payout but to no avail, market value was all they would offer. Like others, I didn't want to replace with second hand, so why should I, was my thought. If it wasn't for the idiot in the transit who pushed me from the road I would still have my 'no previous owners' bike. But thats life, all they would pay was the 10500. The stiff neck made up the rest...thankfully had enough evidence to pin it on the idiot removing the claim from my history.

I't definately worth checking the doc's as soon as you recieve them though...when I insured the replacement GSA with Carol Nash I stated the value at 13500 or whatever it was, doc's came through stating 1500!!! On a new bike!!! This was after repeating the information several times. Had to cancel the policy; to increase the insured value to the correct amount they wanted too much money. And I'm sure if I had not noticed and written this one off, they would have used my stated value rather than market value!!