Insurance!!! - Page 2 - SV650.org

03-04-06, 10:37 AM

They (your insurers) are obliged to pay "the current market value" for your bike. They usually use Glass's Guide or CAP to determine this. Your settlement sounds a bit low.

Have you got ULR (uninsured loss recovery) on your policy? This should cover you for any additional losses you have incurred that are not covered by your main policy. Even if you don't have it, it sounds as though the 3rd party have probably admitted liability so any 'ambulance chaser' would probably take on your case to pursue your additional losses.

Remember, big companies (like the bus company) are usuallly sh*t scared of compensation claims and they'll probably settle without too much of a fight. Seek legal advice, it looks like this time the law may actually be on YOUR side.

03-04-06, 10:51 AM

Cheers guys all useful stuff and just the reason why i joined the ORG in the first place

03-04-06, 12:47 PM

Is your bike brand new, as in a K5 or something? If so, that seems damn low. I'm going through the same process and they offered just over £3k for my K3. They use Glasses Guide in making their offer, and unless you've declared any extra's to the insurance company then you won't get anything for them.

If you do not have a vehicle whilst this is going through because you have to give the hire bike back, then hire a bike, keep the receipts and send them through to your solicitors as it can be claimed back as part of your personal injury claim. I'm building a nice collection of train receipts as I still can't really ride into London yet.

The whole process does suck. It took almost two months for the third party insurance company just to admit liability! Anyway, this is your ranting thread, not mine.

04-04-06, 02:15 PM

They valued my K5 with 1300 miles on it as £3300 which i was very annoyed at! I disputed it but my solicitor said it didn't matter as it was geting repaired, that was December the 17th my bike is in Daytona's now gettin sorted it's been in for two weeks. I was shocked at the price of a genuine Suzuki exhaust £600.00!!! Hopefully my bike will be back soon! just waitin for my injury claim so I can buy an Octavia VRS!

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03-04-06, 10:37 AM	#11
howardr Guest Posts: n/a	They (your insurers) are obliged to pay "the current market value" for your bike. They usually use Glass's Guide or CAP to determine this. Your settlement sounds a bit low. Have you got ULR (uninsured loss recovery) on your policy? This should cover you for any additional losses you have incurred that are not covered by your main policy. Even if you don't have it, it sounds as though the 3rd party have probably admitted liability so any 'ambulance chaser' would probably take on your case to pursue your additional losses. Remember, big companies (like the bus company) are usuallly sh*t scared of compensation claims and they'll probably settle without too much of a fight. Seek legal advice, it looks like this time the law may actually be on YOUR side.

03-04-06, 10:51 AM	#12
Ward8124 Guest Posts: n/a	Cheers guys all useful stuff and just the reason why i joined the ORG in the first place

03-04-06, 12:47 PM	#13
Kate Guest Posts: n/a	Is your bike brand new, as in a K5 or something? If so, that seems damn low. I'm going through the same process and they offered just over £3k for my K3. They use Glasses Guide in making their offer, and unless you've declared any extra's to the insurance company then you won't get anything for them. If you do not have a vehicle whilst this is going through because you have to give the hire bike back, then hire a bike, keep the receipts and send them through to your solicitors as it can be claimed back as part of your personal injury claim. I'm building a nice collection of train receipts as I still can't really ride into London yet. The whole process does suck. It took almost two months for the third party insurance company just to admit liability! Anyway, this is your ranting thread, not mine.

04-04-06, 02:15 PM	#14
lew893 Guest Posts: n/a	They valued my K5 with 1300 miles on it as £3300 which i was very annoyed at! I disputed it but my solicitor said it didn't matter as it was geting repaired, that was December the 17th my bike is in Daytona's now gettin sorted it's been in for two weeks. I was shocked at the price of a genuine Suzuki exhaust £600.00!!! Hopefully my bike will be back soon! just waitin for my injury claim so I can buy an Octavia VRS!