UK Monster Owners Club Forum » .: Technical :. » Service/Dealer & Insurance » Agreed Value Insurance

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Old 16-07-2020, 07:30 PM   #16
slob
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Join Date: Jul 2003
Location: East London
Bike: Multiple Monsters
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screenshot of a similar bike listed at £13k couldn’t hurt (even if it didn’t sell)
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Old 16-07-2020, 10:32 PM   #17
Jez900ie
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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
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