Insurance offer help!!

Originally Posted by Paws

Because when i first got her she wasnt worth more thn that, she needed alot of tlc plus the market value at the time was around that value

I think that's a perfectly valid reason to put to the insurance company to be honest!

Cheers huni
I might not get anywhere but least i tried, its not exactly a bad amount theyve paid out but its always nice to argue it out with them-esp as it wasnt my fault!

Originally Posted by Paws

Cheers huni
I might not get anywhere but least i tried, its not exactly a bad amount theyve paid out but its always nice to argue it out with them-esp as it wasnt my fault!

See my post on your other thread. The third party insurers should make up any shortfall on value etc.

right ive just dug out me policy (thank fook i photocopied it!!)
On my policy schedule it says ESTIMATED value: £1499
and on my proposal form it says : ESTIMATED SUM INSURED £1499

and in me policy booklet it reads:
"we will give you a cash payment up to or the same as the MARKET value OR AGREED value of your bike at the time it was damaged.

now NO WHERE in my paper work does it say the sv has a AGREED value-only ESTIMATED....

You're talking to the insurance company as though they're decent human beings; they're not. Think of them as a prosecuting solicitor; they will take your money and laugh all the way to the bank if you don't have everything bang up to their terms.

If you valued the bike at £1500, they will AGREE to that value when they provide the policy. That's how i'd argue it, anyway.

I think your £1500 is all you'll get, i'm afraid

semi-result
ive got an extra £100 heading my way for my aftermarket parts that were on her and thyeve agreed that its MARKET value they pay out for so are re-looking at offer on bike.

Sounds like a result, if they are saying they will pay market value I would think the normal approach of sending ads, etc (which you already did I think you said) will get them to offer a better price.

Fingers crossed for ya They can't honestly give you less than MARKET value (can they?) ... I mean "markets" go UP as well as down ... supply n demand ... that's the insurers fault ... they probably make a good deal of money out of people anyway, because they COUNT on the fact that when you insure you're £3,000 bike, that by the time you actually make a claim, with depreciation n all that, the "market value" of the bike will have gone down to £1,500! They also need to accept that in SOME cases, such as in times of "demand outstripping supply" that the market value of a particular type of bike, may actually have risen from the "estimated value" at the time of purchase.

However, as Ashy says ... these are insurance companies

Good luck tho Laura

Pete

I know im only really arguing over a few hundred quid more but its principal that matters,not like ive got alot else to do

That couple of hundred quid could mean the difference between a minter and a munter for your next bike tho