Insurance help

OK so my K3 SV650s got stolen, had lower fairing, crash bungs, brand new front forks and tyres and MOT and Sat Nav mount powered and cabled up.

Insurance is quoting me £1,800 minus my £600 excess so £1,200 which I think is insane as the LOWEST I can find a similar condition and mileage machine is £2,500 and that's Private, in the shop it's 3 Grand.
I tried to argue this (politely) but the "Engineer" stuck to his guns on the basis that I had Excessive Mileage of 18,000 miles.......
I asked him where he got this insanely low value for my bike and apparently he did some comprehensive research...he got the price out of the auto trader he picked up on his lunch break, 50 miles away, same colour even! and only 6k miles!.....of course I've searched their website and found it.

A Cat C naked SV650....not even the same damn model and a write off to boot!
He eventually said that he'd just send me the offer and I didn't have to accept and that was that....
He also had the choice line when I told him that to replace my bike like for like would cost £2,500 min that the cost to buy a bike wasn't the same as the value ...Huh????

Who the hell do I need to complain to as there is no way in hell I'm taking such a pathetic offer.


Oh and FYI cheapest SV650S that isn't a write off on the site he quoted is the same as I did, £2,500

I was going to take a resaonable offer, now it's war and I want every damn penny for them messing me about for over a month, can I get the Excess back?

[Biker Biggles]

You wont get anything for the extras unless you had agreed them with the insurance before,but you are doing the right thing on the bikes value.Get as many examples as you can find of equivalent bikes at ?2500 or more,including some dealer ones,then highlight the cat c example your bloke used to show his incompetance and watch the offer increase.

As its a K3 it has to be worth £2000, despite the reasonable mileage of 18,000.

As BB said, if you declared the mods, then a bit more...£2200?

[fizzwheel]

So go onto biketrader, find adverts that backup your claim print them off and reply to his offer letter with one of your own politely state your case and say you dont accept the offer as to replace your bike with an equivalent would cost and then state the ads you've found as evidence.

thats what I did when my car got written off and I got the market value for the car. What the insurance companies do IMHO is make you a low offer and hope that you dont blindly accept it as that way they dont have to pay out so much.

If the accident wasnt your fault and you have legal protection included in your insurance premium as I do you can instruct the legal protection people to get your excess back to from the third parties insurance company.

Originally Posted by fizzwheel

If the accident wasnt your fault and you have legal protection included in your insurance premium as I do you can instruct the legal protection people to get your excess back to from the third parties insurance company.

It was stolen, so i imagine paying the excess is unavoidable.

[fizzwheel]

Originally Posted by ASM-Forever

It was stolen, so i imagine paying the excess is unavoidable.

My bad I missed that bit, yep I'd agree no getting away without paying excess in that case and no chance of getting it back either.

Bummer

what a joke!!!
I didnt accept the first offer my insurance co made and im glad i didnt!, as fizz has said i dont think you can argue your excess sadly but you can certainly argue the offer!
Ive pm'd you a link that might help

I got £2175(+keep salvage) on a 1999 with roughly 20k miles.

Hopefully they will give you an equally ridiculous offer.

I'm still waiting for my 53 plate K3 pointy to be assessed, but if it is written off as I suspect, I want £3000 for it as thats what I've seen them for locally with similar mileage (around 17000). I think what they have offered you is an insult but does seem to be the way insurance companies work. As others have said they work on you accepting the ridiculously low offer cos you are desperate for the pay out. Send it back with evidence of the highest priced bikes of a similar condition you can find and wait for a response.

Whilst i agree with the principle of taking the insurance company for as much as you can, £3000 for a K3(17,000 miles).....seriously?