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Bike insurance

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wildon:
I can imagine the real ball ache will begin when you need to make a claim on this type of stuff.  They are quick to take your money but i'm sure once a claim is filed they will be asking for proof of value backed up by receipts, which for 99% of our stuff we won't have.  It's almost impossible to value this type of stuff really.

Badbaldie:
right ...... as Brett im insured with DIRECT LINE. and as Wildon says  insurance companys will take ur money no probs its the paying out that's difficult ... heres what you need to concider..... the person on the end of the phone who says ... yes yes of course , no problems etc etc.. IS NOT THE PERSON WHO WILL BE PAYING OUT ..... its the UNDER WRITER. and the under writer will try and find a reason not to pay out........... you need to be upfront and honest with the insurance. you need to explain that you don't have receipts as your bikes are vintage and the only true way to "prove" a price is to show similar item sales on ebay etc..... as you cant buy a replacement in a shop . to the insurer they will try and fob you off "when you claim" that you can by a bmx for 400/500 quid from winstanleys etc ... when you payed that for your frame and forks alone. this why  you need to make sure  that you agree a price...... this really matters . say you "insure " a bike for £1500 but when you come to claim you say its £2000 you have UNDER insured the bike by £500 so they will instantly take that off what they are willing to pay you plus your access ... so for that £2000 bike you only insured for £1500 - £500 under insured plus say £100 access your gona be lucky to get payed out £900 ... if a bike is over a certain price , its like having a piece of jewellery of high value it need to be insured seperatly , as an individual item ...... hope this helps guys  :daumenhoch:

meticulous:
sounds like you will be paying an extra £500 at least a year for your bikes,  best get selling.... :-\

Chapperz:
I got house insurance with admiral, they covered 5 bikes for specified value, and it wasn't too expensive, I think I put them all at £750 plus. Can't find my docs at the mo, but thought that it was reasonable cost, and they are covered away from home too, as long as they are locked.....same for all bikes now.

wildon:
I worked for an insurance loss adjusting company for years.  Their specific job is to look into claims and save the insurance company as much money as possible.  The more they save them the more work they get from them.  If you have a substantial claim and your insurance appoint one (which would probably be the case with such odd insured items) you will have a battle on your hands.
Best to secure your property as best you can to minimise the risk of them going walkabout in the first place.  It'll be a lot cheaper i can almost guarantee it  :coolsmiley:

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