Agreed Value Insurance - Page 2

slob · 16-07-2020, 07:30 PM

screenshot of a similar bike listed at £13k couldn’t hurt (even if it didn’t sell)

Jez900ie · 16-07-2020, 10:32 PM

Flip I'd start with watching ebay to see what bikes of your year fetch. Then you decide whether yours is better or worse than those you see which sold.

As I mentioned earlier, I estimated a 2002 900ie has a trade value of £2K. I then listed all my major upgrades and totalled up what they cost (replacement value of £5K. With that done I decided that I want £5.5K if my bike is stolen/ written off etc.

I sent the list of mods, photos etc together with my valuation and the insurers -Bikesure- said they would gurantee to pay that amount provided I paid an additional £35.

Now the actual value of my bike is of course only whatever someone would pay for it. My valuation is the amount of money I would need to stop crying if disaster happened. Its also an amount I thought the insurers would gamble on; would they have refused if I valued my bike at 10K? Would the premium have been an additional £100 if I asked for a higher value? Also the theft in your home area will be a key factor for them to consider.

So I wouldn't over think it. Check the market, work out what money have in the bike & decide on the value you want & can justify. Then hopefully the premium will be in a range that is acceptable to you.

I hope this helps, and its what I ought to have written previously - sorry.

JEZ

16-07-2020, 10:32 PM	#17
Jez900ie Pleasantly surprised! Join Date: Nov 2016 Location: Stoke on Trent Bike: M900ie Posts: 780	Flip I'd start with watching ebay to see what bikes of your year fetch. Then you decide whether yours is better or worse than those you see which sold. As I mentioned earlier, I estimated a 2002 900ie has a trade value of £2K. I then listed all my major upgrades and totalled up what they cost (replacement value of £5K. With that done I decided that I want £5.5K if my bike is stolen/ written off etc. I sent the list of mods, photos etc together with my valuation and the insurers -Bikesure- said they would gurantee to pay that amount provided I paid an additional £35. Now the actual value of my bike is of course only whatever someone would pay for it. My valuation is the amount of money I would need to stop crying if disaster happened. Its also an amount I thought the insurers would gamble on; would they have refused if I valued my bike at 10K? Would the premium have been an additional £100 if I asked for a higher value? Also the theft in your home area will be a key factor for them to consider. So I wouldn't over think it. Check the market, work out what money have in the bike & decide on the value you want & can justify. Then hopefully the premium will be in a range that is acceptable to you. I hope this helps, and its what I ought to have written previously - sorry. JEZ __________________ Monsters don't hide under the bed, they sleep inside the shed

16-07-2020, 07:30 PM	#16
slob . Join Date: Jul 2003 Location: East London Bike: Multiple Monsters Posts: 9,735	screenshot of a similar bike listed at £13k couldn’t hurt (even if it didn’t sell)