insurance claim help

[craig dow]

Wrote the bike off on Tuesday ,phoned insurance all OK , I'm fully comp , they sent a lorry up on Thursday to pick bike up to take it away for engineer report , got a letter on Friday from insurance saying that from the description of the damage I gave when I called them they be leave the bike will be a total loss , and there for can I send them my v5 , not, keys for bike and any other documents to them so when I get the engineers report and offer it can be dealt with quicker , is this right ? To me the bike is still mine till I accept there offer , if I give them the documents then to me its like I have gave them my bike documents and they can say this is all were offering you , take it or lump it we have all your documents so the bike ours now , surely I shouldn't hand over this stuff till if accepted the offer and happy with it , what have you done in this situation ,? Would you send them the stuff now or wait , just not sure what to do , please help , thanks

[Teejayexc]

Not a bike I know, but I had a vehicle nicked at the end of last year. The insurance company, who were very good incidentally, didn't ask for the V5 till it was all settled.

[TamSV]

If you were dealing with a third party insurer then I wouldn't give them the documents or the bike.

However, it's your own insurer, you also think it's a write off and you don't want to keep the bike - so you'll be giving them all this stuff anyway.

It doesn't put you in a different situation. You can still negotiate the settlement if you don't think it's fair and, once you've reached agreement, you'll get your cheque quicker because they already have the documents.

[craig dow]

OK thanks for that , no other vehicle was in involved , so it is my insurance asking for documents , just seems strange , like handing over my bike and documents to someone then them saying will sort out what I will give you for it latter ! But if this is norm then I will just post it to them thanks again

[Matt-EUC]

They are contractually obliged to pay you. If for any reason they don't, call a law firm.

[NTECUK]

The V5 isn't a document of ownership. It's just a notification of the person who is Keeping it.
So your not giving up title to the bike

[craig dow]

OK thanks for that , I did think it was proof of me owning the bike , so now I know , so what is proof that its my bike and I own it ? I'm sending away my docs after all your advise , but it still doesn't seem right , thought I'd have to hand them over when iv accepted there offer , but you learn some thing new every day ,

[NTECUK]

Your have a receipt (Hopefully).
If you read the V5 it does state that.

[craig dow]

Yes I do have a receipt , but bought bike privately so its just a hand written one , i could off done that myself ! I got the bike a lot less than book price , so won't be sending that to the insurance , as insured it to a lot more ,

[NTECUK]

Well you won't have to send it off but it is your safety net.
When they collect the bike make sure you get a one too Take pictures of the bike as it is. Attach one to that and one copy to the collection driver one for your records. With a signature.

[NTECUK]

Yes I do have a receipt , but bought bike privately so its just a hand written one , i could off done that myself ! I got the bike a lot less than book price , so won't be sending that to the insurance , as insured it to a lot more ,
Remember the company will also look at advertising for the pay out on the bike. So what you estimated the value my differ from the offer.
If it is you can show what they go for local 20 miles radius say and if you any pics pre crunch will help when you say it's a top class bike

[craig dow]

Thanks very much for your help , got lots off pics off bike before and after , was trading it in on Tuesday sods law , bike shop said the bottom book price for my bike was £ 2000 and my bike was in good condition , and lower miles than books price said , looked around eday etc and carnt find same make / year colour for less than that price so looking at getting around that price I hope , I did fit an alarm to it after I bought it that cist £250 , thanks again never dealt with insurance company's before

[NTECUK]

The px price will help you if they don't play ball.

[davepreston]

hav you found out your excess yet

[craig dow]

Hi Dave yes its £400 , so be wanting that back ,

[davepreston]

no no no no my friend
when argueing your case for a higher valuation this is all important
unless more refuse any less than 2400 or as close to it
they will say no, but be compelely aware what your doing, most likely they will meet you half way at 2200 there you acutally get 1800 followed by your 400 possibly at a later date insurers depending or they may just give you the 2200 straight away if liability is already sorted, but always always add your excess to your valuation, this means at worst you nearly get what you need for the bike, at best your 200 odd up,


in simple terms , they say well mr dow we have valued it at 2000 , you say I have valued it at 2400, they say we have found similar bikes for 2000 you say ok I tell you what to save the hastle i'll meet you half way at 2200, very few will continue to argue


yours
someone who has done this far too often

[NTECUK]

Kinda reads that no one other than the OP is involved in the claim. So he's not go a 3rd party to claim his exsses from, unless he's got exsses insurance.

[craig dow]

No your right , I carnt claim access as no other person was in involved , so should I try for £2400 and take £2200 ? Or less ? I have topay the £ 400 excess out of that I take it ! Sorry never understood this sort of thing , thanks again

[davepreston]

yep that means you'll get (if you accept 2200) 1800 in your hand
if your a jammy git and they offer you the 2400 rip them arm off


remember your offer is before excess so 1000 is actually 600 in your hand , 2000 is actually 1600 in hand so on and so on

[craig dow]

OK thanks for all that help a lot wiser now , so glad I have an idea what's going to happen now , and what to say , just have to wait for that phone call , this site and the orgs are brill , thanks again