Insurance Question - Heavily Modified Bikes

Afternoon folks,

I was just wondering if anyone knew what the rules were on the following. Lets say you have a really heavily customised special that you have put together yourself. Spondon frame, magnesium wheels, pricey Marzocchi forks, even little things like the rearsets and front brake are £300 each. You have an accident which is in no way found to be your fault, but due to the cost of repair the other party are keen to write it off. They refuse to value it on what it cost to build, but instead argue that as a one off special, it would never have the same resale value as the price you paid to build it and instead only offer less than half what the bike cost to build (which is all you would probably get had you tried to sell it).

You have no interest in anything other than building the exact same spec bike again. Can you insist that they actually pay for each of the damaged bits to make it back to how it was beforehand, or can they insist on writing it off. If so, how can you ensure you get a fair price for it?

I imagine for a bog standard streetfighter, this is even more of a problem (difference in percieved resale value versus cost to build)?

i believe to get around this you would have to have your bike insured at a fixed price.

that way you could provide evidence that the bike was "worth" that amount in insurance terms.

Northwind has a deal like that i think...

[timwilky]

Hmmm interesting question. I would have assummed for a bike like that, the owner would have an agreed valuation with his insurance company.

I know from talking with Mrs Fud some time ago that when her dad parted company with his Magni on the way to AR04 (I think) that the insurance agreed a rebuild and really struggled when they then had to try to source hand built matching pipes etc. Had they known the real cost of a handbuilt bike then they would have probably payed up to write it off at day one.

hi..let us know if you find a good insurance co. that would cover a heavy modded "streetfighter"...!? my insurance will be up v. soon and i'm not sure what to tell 'em..!

Originally Posted by sfstu

hi..let us know if you find a good insurance co. that would cover a heavy modded "streetfighter"...!? my insurance will be up v. soon and i'm not sure what to tell 'em..!

It's all stock, innit?

ive just hunted the net for bike insurance and if you mention a mod to some of them they just say NO.

nope..! last winter was busa forks, one off billet yokes etc, in the process of adding waveys and gixxer6 front calipers and master cylinder..? also got gixxer6 rear caliper and wheel(with wavey) on back with 190 tyre and offset front sprocket, svthou swingarm (modified) for gixxer6 rear shock... and a couple o other bits and pieces to compliment mr suzukis original design..!

carole nash told me a year or so ago that they're not that bothered about mods as long as it doesn't affect performance (engine-wise)..?

adrian flux are meant to be the best for heavily modified and custom choppers. best to ring them because when i did a quote they said they didnt have enough info and tols me to ring them which i still have to do.
bikesure is another one. just have a flcik through sreetfighter magazine, or something like back street heros etc.
a lot higer premium though

[Stu]

All the answers seem to be addressing your own policy when the question was about a 3rd Party's insurer - who you obviously can't have an agreed value with. I don't know the answer, but would be interested.