BMX General > BMX Chat

Insuring Your Bike Collection

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Waxintaxin:
The way i have done it is to name each bike with a value attached and insure the value , that way they cant back out and try the new for old trick

so each bike is insured with a value ,meaning i have taken out an insurance option on the value not the bike type

imagine , so heres your new PK ripper 08 much nicer than your old 1982 one  :(

its costing me ,130 quid a year , that includes the bikes while out with no clauses like locks and stuff ,in case i get mugged while riding lol
they will not try to find out the value in a claim as i think this is the sticky bit , how do you prove an old bike is worth 1000s of quid?
try to insure the money ,not the bike
it took ages of going backwards and forwards but i have in writing what the conditions are and am as happy as i can be that they have cover :2gunsfiring_v1:
Rich

dannywhiteley:
Similar situation, I used to run a 1982 mk1 golf that was in show condition (front cover of Performance VW March 06) and I had an agreed valuation with the insurance company.  That way if my £4000 golf got written off, they wouldnt try to give me book value for a mk1 golf of £300-500.  It was a 1.3 not a GTI so wouldve struggled to convince them otherwise had I had standard insurance on it.

Stodgy:
That's good advice Rich - thanks for that mate. I'm looking into it at the moment, and it looks like you've done all the hard work for me mate!

Nice one

 :daumenhoch:

Bigplinky:
Which company have you done that with then Rich? and is it a seperate policy to your house contents cover?

Cheers

Andy

beard1973:
I'd be interested to know the details of this as well Rich... I know my collection is mainly made up of Burners, but I've invested a fair amount of cashiola on them and the thought of them disappearing worries me greatly....

[no jokes about nobody stealing a Burner...  ::) they are a Gypo's fave...  :coolsmiley:]

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