Insurance value

I think I've calmed down a bit now after having my lovely SV nicked last week . So I've started thinking about what bike I might be able to get when the insurance pays out (assuming they do ).

Any idea how much I'm likely to get for a standard blue SV650S K2 with about 11500 miles on it (with Meta alarm and scotoiler)?

Jim

[Biker Biggles]

Dont know the figure,but it will be a lot less than you thought you would get.Thats my experience of insurance companies.Having shafted you on that front they will then load your next premium up to reflect the fact that you have made a claim and you are a bad risk.Highway robbery but all legal because they own the people who make the law

Echoing what biker biggles says, expect less than you'd expect

Someone I know who had a CBR600RR could only get an ER-5 with his payout after his bike got knicked.

Ride used bike price guide (supposed to be based on glasses guide that dealers and insurers use) puts a k2 bike at £3250 from a showroom or £2925 from a private deal.

It depends on the insurer - they offered bang in the middle of the two for my last bike when it got mown down, plus with a little push they gave another £15 for the scottoiler. If you can still get access to it, remove everything from the bike before they assess it - wish I'd removed screen, tax disc and holder, scottoiler, etc. as I couldn't get 'em back afterwards!

Insurance companys are a real pain. They ask you the value of your bike, base the premium that you pay on the figure you give them. Then, if it gets nicked and you make a claim they spit a completely different (much lower) figure back at you. If they deem your bike worth only what they say, then that should be the figure the premium is based on in the first place!
I strongly dislike insurance companys and that's putting it mildly!

This was my experience when my bike was nicked a few years ago.

[TSM]

Originally Posted by SVeeedy Gonzales

Ride used bike price guide (supposed to be based on glasses guide that dealers and insurers use) puts a k2 bike at £3250 from a showroom or £2925 from a private deal.

It depends on the insurer - they offered bang in the middle of the two for my last bike when it got mown down, plus with a little push they gave another £15 for the scottoiler. If you can still get access to it, remove everything from the bike before they assess it - wish I'd removed screen, tax disc and holder, scottoiler, etc. as I couldn't get 'em back afterwards!

If thats the case it seems i got a good deal, i bought my (was fully faired now semi) bike for £2600 in Jan.

Originally Posted by Ade

Insurance companys are a real pain. They ask you the value of your bike, base the premium that you pay on the figure you give them. Then, if it gets nicked and you make a claim they spit a completely different (much lower) figure back at you. If they deem your bike worth only what they say, then that should be the figure the premium is based on in the first place!
I strongly dislike insurance companys and that's putting it mildly!

This was my experience when my bike was nicked a few years ago.

wait a sec, i've valued my 2001 svs at £3500 that's how much it's worth to me, that's how much i paid for it etc

so if i make a claim i'm likely to get less than this if my bike's written off.

but surely i'm paying more for security on £3500 worth of motorbike???

(£338 in fact fully comp 21yo and 5years NCB )

Originally Posted by Ade

Insurance companys are a real pain. They ask you the value of your bike, base the premium that you pay on the figure you give them. Then, if it gets nicked and you make a claim they spit a completely different (much lower) figure back at you. If they deem your bike worth only what they say, then that should be the figure the premium is based on in the first place!
I strongly dislike insurance companys and that's putting it mildly!

This was my experience when my bike was nicked a few years ago.

Yep, I think regulators need to sort this asap. Most reasonable would be for you to describe your bike (age, condition, mods, etc.) they suggest a value based on this (naturally, you should be able to argue it up/down a bit). You then insure it to that value for the year and for the remainder of the year (provided you've not done monstrous mileage), that'd be the amount you'd be paid out. When the policy is up for renewal, you would agree with them the depreciation, the "value" would decrease, as would the amount you'd have to pay in insurance.

hi there. just noticed the insurance you are paying. were did you get it from. could you let me know. sounds like a good deal to me. many thanks. jamie

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