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Tirefriar
Joined: 18 Dec 2014 Posts: 659 Location: USA
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Posted: Wed Sep 06, 2017 7:05 am Post subject: |
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brian wrote: |
Sorry to hear that it's not going so well Stu. I'd be super pissed too. We pay ridiculous money for insurance, hoping that we never need it, but also hoping that they will look after us if the worst happens. Bastards! |
I deal with insurance companies on daily basis and very very few step up to really take care of their clients. Most will welch out of paying for proper repairs. _________________ 1991 Bimota YB10
2001 MV F4
2003 Aprilia RSV Mille CE Replica
2004 BMW R11S BCR
2010 Ducati Streetfighter 1098 S |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Wed Sep 06, 2017 12:28 pm Post subject: |
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Tirefriar wrote: |
I deal with insurance companies on daily basis and very very few step up to really take care of their clients. Most will welch out of paying for proper repairs. |
I am finding this out.
So not only have I been emailing BCP trying to get prices but I found a replacement 5R in a dealers, a dealer that was more than willing to talk to the insurance and help them with costs/bike value.
The insurance however ignored all the info I gave them and put their own value on the bike which is not realistic.
Wouldn't mind but I have all my bikes on one policy and the premium is not cheap. |
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Evilchicken0
Joined: 12 May 2010 Posts: 2996 Location: London
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Posted: Wed Sep 06, 2017 1:44 pm Post subject: |
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Ask them which "book" they're using for their value _________________ Don't read everything you believe |
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quikduk
Joined: 13 Aug 2016 Posts: 287 Location: Southern California, USA
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Tirefriar
Joined: 18 Dec 2014 Posts: 659 Location: USA
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Posted: Thu Sep 07, 2017 8:19 am Post subject: |
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Stu, in your case your insurance company is acting in bad faith. they took your money but are failing to properly cover your property at a time of a loss. In the states, one can file a complaint with Department of Insurance. If you have proper documentation to back up your complaint there's a decent chance of DOI persuading the insurance company to step up. _________________ 1991 Bimota YB10
2001 MV F4
2003 Aprilia RSV Mille CE Replica
2004 BMW R11S BCR
2010 Ducati Streetfighter 1098 S |
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who
Joined: 10 Nov 2010 Posts: 402 Location: Melbourne Australia
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Posted: Thu Sep 07, 2017 9:20 am Post subject: |
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So Vort, you actually have insurance on the bike that was damaged? This reads like you are an uninsured rider trying to convince a defensive wrongdoers insurance agent that you have been aggrieved?
If you are insured, it may pay to have a solicitors letter sent to your insurer, demanding a higher level of representation in this matter, or a letter from yourself stating that if the level of representation you are receiving doesn't improve dramatically, you intend to have a solicitor act on your behalf. With all costs being invoiced to your said insurer. |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Thu Sep 07, 2017 1:04 pm Post subject: |
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WHO - Yes I am insured , and I thought it was though a good company.
However , having never made a motor claim I was maybe giving them a little bit more credit for intelligence and fair play than I should have.
My policy covers a number of named bikes and all with a guess at the value. There was an option to do agreed but this required 'official status ' to value, club/factory etc , and lets face it who can put a value on a Bimota.
I enquired at the time about this and they said it was not really worth it as if I insured a 50cc scooter for 2 million they would still only pay me out the 2k it was worth , however if I insures something for 2k to keep the premium down and then made a claim for 20k obviously that would not be paid either . The upshot was the value I put on them had to be realistic and in the event they would look at market value etc , which I did.
Fast forward 6 mths , on the way home from a ride I get knocked off my 5R , which ended up on the road.
I call the insurance and am instantly bounced through 3 offices as claims are outsource to third party companys. Not only that but there are different companies dealing with the actual accident and who's fault , one dealing with the bike and damage and 1 dealing with the compensation for gear and injuries.
None are the actual insurance company , none of them talk to each other, they all have different claim references , OH and the most important thing , they ALL obviously only get a fixed fee per claim handled , so are not interested/have far to much work to do and want to close the claim ASAP .
So the vehicle engineer turns up at my house 2 days before I go on holiday for 14days, I have previously spoken to him, explained who Bimota are and what they do, the limited number production runs and the fact my bike is one of a hand full in UK and one of circa 40 in the world.
One arriving I show him the bike, first thing first, its clear he is not a biker, does not really deal with bikes, but is obviously a local self employed valuer who wanted the extra cash/job for looking at the bike.
So he asked for the frame number , I point it out , ' OH ' he says , 'something wrong ' I ask ? , ' yes, this frame number is incorrect' , in what way I ask ' ? , ' well the last six digits are the unique number , he say ' and yours is all zero's bar the last 2 ' he says , ' and your point is ' I enquire , ' Have you not listened to a word I have said ? there is less than 40 of these in the world so why would the frame number be any greater than 40 ' ? . Bloke was clearly just there to get the money to write the report.
So I gave him a few numbers/emails/website for him to help value etc.
2 weeks later after my holiday , when I call him , he had not had time to enquire , in the mean time BCP come back to me with a mainly blank on parts , but a glimmer of hope, there is a 5R in a UK Italian bike dealer . I call the dealer he agree's to help , smelling a sale, I give details to vehicle engineer , 2 weeks later he still has not called the dealer , he decided he would ' do his own investigations but turned a blank ' . So again I request he call the dealer and tell him the asking price for the 5R. A week passes and still nothing, so I ring the engineer and ' its on my list'!!
I then receive a call from the actual insurance company asking if I am happy with the progress of my claim , the poor girl got more than she bargained for , ( as have you Who ) , anyway 30 minutes later I get a call from another company and am informed my 5R has been written off and the market value is 12k , which strangely is the right digits the Italian dealer used just in the wrong order !!
I now find myself as a middle man between the dealer/the engineer and the valuer as ' its not company policy to speak to 3rd party dealers' , trying to broker a payout and a replacement bike , but at best this looks like it is going to cost me 4-5k to have the exact bike , in the same condition that I had 7 weeks ago.
To say I am un-impressed is an under statement .
Oh , and yes it turns out I may be to blame for the accident as surely I should be more aware of my surroundings and anticipate other road users not following the laws of the land !!!!
So I going to have to pay for the privilege of having an undamaged 5R , loose 15yrs no claims , not be able to ride for 6-8 weeks due to my ankle and then get reamed next year on my premium !!
So the moral of the story, value on the very high side of reasonable that will not affect your premium , and ride with a camera .
Last edited by vort28 on Thu Sep 07, 2017 1:20 pm; edited 1 time in total |
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Evilchicken0
Joined: 12 May 2010 Posts: 2996 Location: London
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Posted: Thu Sep 07, 2017 1:05 pm Post subject: |
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who wrote: |
So Vort, you actually have insurance on the bike that was damaged? This reads like you are an uninsured rider trying to convince a defensive wrongdoers insurance agent that you have been aggrieved?
If you are insured, it may pay to have a solicitors letter sent to your insurer, demanding a higher level of representation in this matter, or a letter from yourself stating that if the level of representation you are receiving doesn't improve dramatically, you intend to have a solicitor act on your behalf. With all costs being invoiced to your said insurer. |
Or get onto the ombudsman http://www.financial-ombudsman.org.uk/about/index.html _________________ Don't read everything you believe |
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TVRRICH
Joined: 05 Feb 2016 Posts: 211 Location: Coventry UK
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Posted: Thu Sep 07, 2017 8:03 pm Post subject: |
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Sorry to hear of your accident and problems vort. Sounds like i was lucky with my spill this time last year. I suppose mine was simpler as i just fell off mine on my own(idiot). My DB2 sustained damage as in indicators, mirror, one exhaust silencer, Part of the rear brake linkeage and damage to the fairing complete with a fair bit of paint damage to fairing seat /tank etc. I phoned my insurers straight away, they logged the claim and put me straight in touch with the underwriters who dealt with the claim from then on. they were pretty good and when it came to seeing who would deal with the assessing and repairs they gave me the choice of their people or as it was an unusual bike could i suggest anyone else. I suggested North Leicester M/C as thats where i bought the bike from and they used to be Bimota dealers, they were fine with that. I then phoned NLM asked them if they would do it, Chris at NLM said yes so i gave him the underwriters details and my claim number. The bike went to NLM was assessed and BCP quoted for the parts (which luckily they had), Dream machine quoted for paint and NLM for labour. NLM contacted the underwriters who accepted the quote pretty much straight away. The parts were ordered Paint done(took a while!!), bike put back together, and bike returned to me,i really had little to do with it. My premium has gone up a bit this year but i think they have in general anyway.
So hearing your account i think myself very fortunate. |
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Bud977
Joined: 03 Mar 2013 Posts: 525 Location: Sydney
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Posted: Thu Sep 07, 2017 9:21 pm Post subject: |
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What a nightmare Vort.
I'm surprised your insurer can bounce you to third party companies. Your insurer is taking the money so they should handle the claim. What else do they get paid for?
Here in Australia it is illegal to fob people off to a third party.
eg. With warranty claims on goods, sometimes the seller tries to get you to contact the manufacturer, but ultimately the seller is responsible and have to look after the warranty. |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Fri Sep 08, 2017 7:40 am Post subject: |
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TVRRICH, do you know how much Dream machine quoted for the job ? what was it , thje whole fairing ? Obviously Dream machine one of the big paint companies , would you recommend ? is it a good job ?
Out of interest , who are you insured with ?
Bud977 , yeah not great , but then they say you only know how good a company is when you claim !!!
Sorry for the rant , was having a bad day yesterday and needed a bit of a vent !!!!
The only thing I am grateful for is when I renewed last year I re-valued all my bikes up
But with what looks like what might be the last exit of Bimota bike and parts prices are probably set to rise.
Look at NLM , I seem to remember they had a DB2FE for about 9k was it 2 yrs ago, now want 14k for a similar one !! Not a bad increase !!
Last edited by vort28 on Fri Sep 08, 2017 8:20 pm; edited 1 time in total |
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Gavin944888
Joined: 29 Jan 2014 Posts: 572 Location: Essex....way South of Scotland
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Posted: Fri Sep 08, 2017 9:00 am Post subject: |
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VORT.............I am aware that you probably do not want to keep talking about it BUT which Insurance Co should 'we' stay clear off.
Also, I had similar valuation issues and the forum formed a 'club'...no rules, no subs but a 'head of contact' in each country where the 'paperwork' could be sent.
Also made it easier booking events, tracks, etc
That was the CagivaElefantRiders but it had pdf headed paper, regional contacts and got an extra club discount and recognised status with DVLA as regards aging and and valuing.
Just a thought...BUT it would need someone like 2Bims to come back to run it though
The status of BIMOTA and the lack of parts at BCP can only potentially cost us all!
regards
Gavin _________________ On an Island in the River Thames!
Cagiva Elefant 888/955 & adventure sidecar
Cagiva Elefant 999r engined
Cagiva BIMOTA Motard Concept
BIMOTA DB9 (with DB11 rear-end)
BIMOTA DB7-11 VLX MULE (build coming to an end)
BIMOTA DB11 VLX Supercharger |
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TVRRICH
Joined: 05 Feb 2016 Posts: 211 Location: Coventry UK
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Posted: Fri Sep 08, 2017 4:13 pm Post subject: |
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Hi Vort, my insurance is with Footman James, Its a classic policy as its over 17 years old. I dont actually know the price of the paint work but i will try to find out from NLM, it was the whole fairing (which was repaired first) and the seat tank unit. Im happy with the job but as you work at Jag in Whitley at times and im in Coventry you are welcome to come and look yourself. By the way the DB2 FE you refer to at NLM 2 years ago is my bike but it was up for £10500, but as you say the one for sale is almost £14000, i wonder if the fact its a pukka UK bike gives it a premium ? |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Fri Sep 08, 2017 9:13 pm Post subject: |
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I did have the FJ classic policy but was convinced buy 2bims to go to Peter James which is actually a company called KGM. One thing I know is that come April 2018 I will be looking around for another insurance, well thats hoping my claim is settled by then.
To be honest the dealer that wants 22k for a DB5R is dreaming a bit , but that is my take on it. All I know is I had a mint DB5R and I want another and he has one so market value is what he ask's therefore what I want from insurance.
Problem is its supply and demand. Easy with an RC30/OWO1/RC45/NSR250 etc as there are half a dozen of each on ebay , but whats the value of a DB7 / SB7 ?? DB2 ??? Only one for sale in UK and 14k , so is that what they are worth now ? All very subjective. |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Fri Sep 08, 2017 9:13 pm Post subject: |
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I did have the FJ classic policy but was convinced buy 2bims to go to Peter James which is actually a company called KGM. One thing I know is that come April 2018 I will be looking around for another insurance, well thats hoping my claim is settled by then.
To be honest the dealer that wants 22k for a DB5R is dreaming a bit , but that is my take on it. All I know is I had a mint DB5R and I want another and he has one so market value is what he ask's therefore what I want from insurance.
Problem is its supply and demand. Easy with an RC30/OWO1/RC45/NSR250 etc as there are half a dozen of each on ebay , but whats the value of a DB7 / SB7 ?? DB2 ??? Only one for sale in UK and 14k , so is that what they are worth now ? All very subjective. |
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