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Our bike has now officially been written off :( and the insurance company have offered us £3595. This is clearly quite rubbish as the bike was only 4 months old (SV650s).
What should we realistically expect to get?
I'd be lucky to get that for mine I reckon.
Personally, bike initially is what? £4500. Depreciation for first owner of £500. Not bad going.
Just my 2p.
should you not get close to £4500?
Bluesteel
24-04-07, 01:21 PM
Didn't some people on here say that if it's less than 6-months old then you get the cost of a new one?
Why not just go onto MCN and pull off loads of ads for new and nearly new SV's, and show them the ones that back you guys up?
Failing that.... a big hammer?
SoulKiss
24-04-07, 01:21 PM
When I got my new K6 I took out the insurance they offered that would cover any shortfall in the case of a write-off.
Thought it would perhaps be useful, tho I hope to not have to use it.
I would still try and get more from them - see my reply in the initial crash thread :)
David
I'd be lucky to get that for mine I reckon.
Personally, bike initially is what? £4500. Depreciation for first owner of £500. Not bad going.
Just my 2p.
you've done about a squillion miles though haven't you??
the insurance company are allowing for £1000 depreciation in 4 months :(
When I got my new K6 I took out the insurance they offered that would cover any shortfall in the case of a write-off.
Thought it would perhaps be useful, tho I hope to not have to use it.
I would still try and get more from them - see my reply in the initial crash thread :)
David
that's the plan. the free insurance is utterly ****, eviltwin paid extra for legal cover and they are now saying that legal cover doesn't include legal costs wtf
Didn't some people on here say that if it's less than 6-months old then you get the cost of a new one?
Why not just go onto MCN and pull off loads of ads for new and nearly new SV's, and show them the ones that back you guys up?
Failing that.... a big hammer?
looks like we'll have to do that. it's a complete pain though, the insurance people have been useless from start to finish. :hackedoff:
the_lone_wolf
24-04-07, 01:26 PM
isn't 17.5% of the bike's RRP gone in VAT the instant you buy it? - that's almost £800
it does sound harsh though if you bought it new - i would be going back for more, a threat to claim for damaged leathers / helmets / mental anguish (brought on by the ridiculously low estimate) perhaps? i dunno
Bluesteel
24-04-07, 01:28 PM
If they admit fault, you could try and seek the extra money from the 3rd party's insurance company?
Or bump up your claim on kit? What about that priceless ming vase which was mounted on the fairing, Spirit of Ecstacy style?
you've done about a squillion miles though haven't you??
the insurance company are allowing for £1000 depreciation in 4 months :(
Probably hit 18000 by the end of the week. Not bad going for a 9month old bike really.
So yes, about a squillion.
If they admit fault, you could try and seek the extra money from the 3rd party's insurance company?
Or bump up your claim on kit? What about that priceless ming vase which was mounted on the fairing, Spirit of Ecstacy style?
i'm pretty sure they will admit fault, it's just a matter of time.
will have to speak to solicitors.
arghhhhhh, i am soooooooooooo annoyed.
Bluesteel
24-04-07, 01:34 PM
It's not a final amount though Sarah.
You guys just need to do a bit of research.
You'll be dealing with a acne-ridden, pasty skinned yoof. Just confront them with evidence to support a higher claim, and they might come back with a higher offer. They're not in the position to decide, but if you kick up a stink (hehe) then it will be more effort for them than the extra few hundred £££s.
Just persevere. We need you happy!
It's not a final amount though Sarah.
You guys just need to do a bit of research.
You'll be dealing with a acne-ridden, pasty skinned yoof. Just confront them with evidence to support a higher claim, and they might come back with a higher offer. They're not in the position to decide, but if you kick up a stink (hehe) then it will be more effort for them than the extra few hundred £££s.
Just persevere. We need you happy!
eviltwin phoned them up to say sod off and it seems they'll now take another week to pick a random (low) number out of the air.
Bluesteel
24-04-07, 01:39 PM
Well, calling them up and asking them to consider X number of figures, which you've found from X number of reliable sources would be a better bet, no?
(I bet ET looks quite sexy when he's mad :rolleyes: )
Well, calling them up and asking them to consider X number of figures, which you've found from X number of reliable sources would be a better bet, no?
(I bet ET looks quite sexy when he's mad :rolleyes: )
they only let you speak to the monkeys, not to the people who make the decisions. grrrrrr.
Bluesteel
24-04-07, 01:44 PM
Ok ok, why not try contacting Honest John (http://forums.sv650.org/letters@honestjohn.co.uk) at the Telegraph?
He's amazing, I have contacted him a few times and I am always amazed by the amount of information he knows.
Damn: I know not about hyperthings...
letters@honestjohn.co.uk (letters@honestjohn.co.uk)
Ok ok, why not try contacting Honest John (http://forums.sv650.org/letters@honestjohn.co.uk) at the Telegraph?
He's amazing, I have contacted him a few times and I am always amazed by the amount of information he knows.
Damn: I know not about hyperthings...
letters@honestjohn.co.uk (letters@honestjohn.co.uk)
thanks
SoulKiss
24-04-07, 01:49 PM
I didnt get the free insurance deal - I got the 3yrs Interest free deal.
My insurance is actually with NIG, dont know if they are more or less evil than every other insurer but one thing I do know.
Where their head office is :)
I didnt get the free insurance deal - I got the 3yrs Interest free deal.
My insurance is actually with NIG, dont know if they are more or less evil than every other insurer but one thing I do know.
Where their head office is :)
free insurance is with NIG, they are v evil and utterly incompetent
SoulKiss
24-04-07, 01:54 PM
But I know where their head office is :)
Its just off the Old Street roundabout :)
David
But I know where their head office is :)
Its just off the Old Street roundabout :)
David
please go and batter them for me [-o<
Bluesteel
24-04-07, 01:55 PM
But I know where their head office is :)
Its just off the Old Street roundabout :)
David
I've seen you...
... You're not that scary... :D
http://forums.sv650.org/showthread.php?t=87954
Not to help you get a higher value - but you might be interested in it
http://forums.sv650.org/showthread.php?t=87954
Not to help you get a higher value - but you might be interested in it
thanks, i saw that, not crazy about the colour (i think it's a bit gay ;) ), would prefer an exactly the same bike
Luckypants
24-04-07, 02:37 PM
The whole point of insurance is to place you a position of no loss and no gain after a claim. Therefore they have to pay you a sum you can reasonably be expected to be able to buy a 4 month old bike for. (hence why some don't bother and just go for the new price when the bike / car is so new)
Go round dealer websites and find as many nearly new bikes with similar mileage avertised, print off the ads and send them with a covering letter explaining that thier offer is rubbish and you want at least £x based on these ads.
Doing things by phone is not the way to proceed with solicitors / insurance companies. Writing is the way forward, since they have to respond to written correspondance and you have proof of what was said.
Still having issues about the amount my son's car was worth when written off last June! :smt068
Bluesteel
24-04-07, 02:40 PM
thanks, i saw that, not crazy about the colour (i think it's a bit gay ;) ), would prefer an exactly the same bike
:smt082
The whole point of insurance is to place you a position of no loss and no gain after a claim. Therefore they have to pay you a sum you can reasonably be expected to be able to buy a 4 month old bike for. (hence why some don't bother and just go for the new price when the bike / car is so new)
Go round dealer websites and find as many nearly new bikes with similar mileage avertised, print off the ads and send them with a covering letter explaining that thier offer is rubbish and you want at least £x based on these ads.
Doing things by phone is not the way to proceed with solicitors / insurance companies. Writing is the way forward, since they have to respond to written correspondance and you have proof of what was said.
Still having issues about the amount my son's car was worth when written off last June! :smt068
thanks for the advice, may well have to do that
fizzwheel
24-04-07, 03:46 PM
thats sound about right for a first offer.. remember its an offer you dont have to accept it.
Go onto bike trader find adverts for bikes similar age and condition for the money you think your bike is worth, print them off, write your insurance company a nice polite letter and include the adverts as evidence and I'll guarantee you that their next offer will be more reasonable.
I had the same trouble with my car when it got written off. I got offered 2400 when I knew I would get £3k in a private sale for my car. I wrote a letter with adverts and they upped their offer.
You have to keep plugging away, but you will get a better offer if you persevere.
Edit : wot luckypants said...
Now definitely convinced to top up and get GAP insurance on the CBF. Hope I dont need it but one of them was covering bikes with high mileage on a return to invoice basis for £150 for 3 year cover.
I dont think my policy has a new for old cover so I think gap insurance is the best bet because mileage and time means Im not going to get what I paid the dealer for the bike for certain from the insurers.
But Sarah, argue it. You dont as has been said have to accept the first offer. If you can support the amount for similar mileage, similar aged SVs that are being sold at higher price they have to comply with what is demonstrably the market value which is the t&c of most policies.
kwak zzr
24-04-07, 05:53 PM
my insurance company and solicitors are pushing for a 50/50 settle but i am not agreeing to it :( there just looking for the cheapest way out.
gettin2dizzy
24-04-07, 06:18 PM
Ok ok, why not try contacting Honest John (http://forums.sv650.org/letters@honestjohn.co.uk) at the Telegraph?
He's amazing, I have contacted him a few times and I am always amazed by the amount of information he knows.
Damn: I know not about hyperthings...
letters@honestjohn.co.uk (letters@honestjohn.co.uk)
he's a fanny! all he recommends is either a skoda diesel or a yaris.
kwak - is this still not sorted out? i can't believe how long they've been stringing you along!
Ok ok, why not try contacting Honest John (http://forums.sv650.org/letters@honestjohn.co.uk) at the Telegraph?
He's amazing, I have contacted him a few times and I am always amazed by the amount of information he knows.
Damn: I know not about hyperthings...
letters@honestjohn.co.uk (letters@honestjohn.co.uk)
he's a fanny! all he recommends is either a skoda diesel or a yaris.
:p eviltwin and i both have yarises
weazelz
24-04-07, 10:31 PM
he's a fanny! all he recommends is either a skoda diesel or a yaris
oi! I have a skoda diesel
Jelster
24-04-07, 10:43 PM
When I wrote off my K5 it took about 3 attempts to get to a price where both partis could agree (I then whipped down to where the bike was stored and took some stuff off of it, including the seat cowl and battery :rolleyes:).
I got £3850 for a bike that was going for about £4k at the time, and had done 498 miles in 6 weeks (it was winter!). Fact is I actually got it from West London Suzuki for £3800, plus £150 for the alarm, so I wasn't that unhappy.
Just keep pushing back and give them evidence of what the bike is worth.
Good luck...
Bluesteel
25-04-07, 02:06 PM
he's a fanny! all he recommends is either a skoda diesel or a yaris.
You're a fanny!
I've written to him loads about lots of things, and he always has something useful to say.
The only reason he suggests Yari and Skodas is because he usually gets letters from old duffers and this is what they need!
Steve H
25-04-07, 02:32 PM
In any event, I would rather have a diesel Skoda than say something like
a Ford Focus. ;)
Hey, not all old duffers need a Skoda or a Yaris.
I do have a diesel though.
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