Depreciation values - SV650.org

16-08-06, 01:52 PM

Well, well. Insurance renewal time comes around once again, and I find myself looking for what the market value of my K5 naked would be for the insurance, but I can't find it anywhere!

Ride lists the S up to K4, but not the N, Parkers don't even have a listing for the K4, let alone the K5, and I'm concerned about over or undervaluing the bike: over coz it might mean I have to pay more, under coz it may mean I have less in the event of any pay out (god forbid...)

Anyone got any ideas about where I can look?

Ta

mattSV · 16-08-06, 01:59 PM

Have a shufti through the small adds in MCN - that should give you an idea.

Stu · 16-08-06, 02:13 PM

Just make up a random figure. Doing multiple searches in online quotes showed me it didn't make a difference so I would pick a high value for the reason you stated.
HTH

16-08-06, 02:20 PM

It's a common misconception that they'll pay out based on the value you insured the bike at. They will only pay out what Parkers reckon it's worth (and then they'll usually try to pay towards the low end of the spectrum first). Putting in a lower value won't lower your premium either; bit of a pointless question really, other than to catch people out who say "no mods" then foolishly try to insure the "standard" bike for £6K.

16-08-06, 02:37 PM

Spot on. Insurers only pay out what the bike's current market value is based upon age/mileage, regardless of how much it cost you. Not sure where they get there info from but I'm sure they use many different source. For fleet vehicles we either use Glasses Guide or Black books. I used to use Glass's for bikes too but found they were a little inaccurate.

16-08-06, 03:41 PM

Quote:

Originally Posted by sv_dan

Spot on. Insurers only pay out what the bike's current market value is based upon age/mileage, regardless of how much it cost you. Not sure where they get there info from but I'm sure they use many different source. For fleet vehicles we either use Glasses Guide or Black books. I used to use Glass's for bikes too but found they were a little inaccurate.

Yep, the books used vary from company to company. If you bought a car/bike cheap (for its age/condition) and it gets written off before it has a chance to depreciate significantly, you may even find you get paid out more than you paid for it!

18-08-06, 10:07 AM

I got paid out £3700 for an SV that I paid £3450 for, because I bought it in February when prices were low and it was written off in summer. Took a lot of chasing to get the full amount though - four cheques in total, a bit more each time I said it wasn't enough.

16-08-06, 01:52 PM	#1
Bear Guest Posts: n/a	Depreciation values Well, well. Insurance renewal time comes around once again, and I find myself looking for what the market value of my K5 naked would be for the insurance, but I can't find it anywhere! Ride lists the S up to K4, but not the N, Parkers don't even have a listing for the K4, let alone the K5, and I'm concerned about over or undervaluing the bike: over coz it might mean I have to pay more, under coz it may mean I have less in the event of any pay out (god forbid...) Anyone got any ideas about where I can look? Ta

16-08-06, 01:59 PM	#2
mattSV Member Mega Poster Join Date: Jul 2003 Location: Darn sarf, innit Posts: 2,025	Have a shufti through the small adds in MCN - that should give you an idea. __________________ 2000 - 2004 SV650S 2004 - 2009 SV1000S 2009 - 2013 Triumph Sprint ST1050 2013 - 2016 Triumph Explorer 1200 2016 - Ducati Multistrada DVT S

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16-08-06, 02:13 PM	#3
Stu Trinity Mega Poster Join Date: Jun 2006 Location: Guildford Posts: 8,027	Just make up a random figure. Doing multiple searches in online quotes showed me it didn't make a difference so I would pick a high value for the reason you stated. HTH

16-08-06, 02:20 PM	#4
Ceri JC Guest Posts: n/a	It's a common misconception that they'll pay out based on the value you insured the bike at. They will only pay out what Parkers reckon it's worth (and then they'll usually try to pay towards the low end of the spectrum first). Putting in a lower value won't lower your premium either; bit of a pointless question really, other than to catch people out who say "no mods" then foolishly try to insure the "standard" bike for £6K.

16-08-06, 02:37 PM	#5
DanAbnormal Guest Posts: n/a	Spot on. Insurers only pay out what the bike's current market value is based upon age/mileage, regardless of how much it cost you. Not sure where they get there info from but I'm sure they use many different source. For fleet vehicles we either use Glasses Guide or Black books. I used to use Glass's for bikes too but found they were a little inaccurate.

18-08-06, 10:07 AM	#7
SVeeedy Gonzales Guest Posts: n/a	I got paid out £3700 for an SV that I paid £3450 for, because I bought it in February when prices were low and it was written off in summer. Took a lot of chasing to get the full amount though - four cheques in total, a bit more each time I said it wasn't enough.