BMX General > BMX Chat
Insuring bikes - advice please.
Waxintaxin:
I spoke to my insurance co and explained what was up , You are not covered for anything over your limit for said item on general contents , which is scary as bikes are personell posesion and you will have a 500 1000 limit on each single item
SO
I took out a ammendment to my policy for a named value item/items with a declared value . so I had to list items / bikes and add a value against it , they then worked out a premium , which was about 150 quid, the policy is a little different as it insures to a named non provable ammount
Its like insuring your hands or something , there is just a value against loss not a replacement value
be sure to really expain and document it
I have thought that this is an underwriters wet dream , mmm , RAD insurance
all it needs is an underwriter mmm
Rich
oberonspacefruit:
but how do yo prove that a set of nos unstamped lg's are worth 100,dabs? i have no receipt....
selfpreservation:
you can assign a value to something and pay to have it insured for that amount eg ant and dec , but it costs more
oberonspacefruit:
doesnt seem my insurance company likes that kind of thinking. i need a reciept, or a valuation. Rich, what are you doing next monday.....
Waxintaxin:
I took me a while to get them to understand, as i have declared a value , and wish to insure at that value , without having to prove they are worth that, it does cost more , but apparently you can insure anytjing , i mean how do you prove a painting is worth what someone says it is, and as old bmx bikes are a new collectible , i would think loads of people are not insured
I do wonder if this is a good chance to get a broker on board and pays the commish to rad
its a simple enough insurance need and many brokers would do it
Rich
Rich
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