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2bims
Joined: 03 Apr 2010 Posts: 7289
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Posted: Tue Sep 27, 2011 4:31 pm Post subject: Insurance Valuations? |
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Anyone out there use "guaranteed value" insurance the like that Footman James provides. If so how or who do they use to fill out the form, the requirement being that its a valuer or chairman of a specific club etc?
Evidently in the not too long ago time Glen Wilson would probably have carried out this service, anyone any ideas? Didn't do it last year, and am slipping again this year, or should I just file the forms accordingly in the round receptacle? |
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oily
Joined: 05 Apr 2008 Posts: 4788 Location: worcestershire
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Posted: Tue Sep 27, 2011 4:53 pm Post subject: |
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Agreed value insurance.............
ummm...........
It always baffles me as to why you need to agree a value on your vehicle.
In theory, we all know your bike is worth X. It will cost X to replace it so the insurance should pay you X in the event of a total loss/theft etc.
In reality you think your bike is worth X the Insurance would only want to pay you Y but it would still cost you Z to replace your bike.
Having never bothered with agreed value I wouldn't know if it's more expensive or not and if it's not too much more expensive, it should be worth it to save any hassle in the event of an unfortunate occurrence.
I have had a few royal battles with insurance company's in the past and have always come out satisfied in the end.
The bottom line is.........
If insurance company's weren't always trying to rob us, then we wouldn't need agreed value insurance as my first example would be the norm
Out of interest, has anyone claimed on their agreed value insurance and did it work for you? |
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2bims
Joined: 03 Apr 2010 Posts: 7289
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Posted: Tue Sep 27, 2011 5:03 pm Post subject: |
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as you say, its ll about "doomsday" scenario, whereby an agreed value is agreed beforehand and then paid out at that level for total losses. Footman James is a classic policy, multibike. You can have as many bikes as you tell them on it, but at least 50% have to be 15 years old or older. For 2 bikes the policy was less than 250 for the year, breakdown cover, fully comp, european cover, recovery and legal all thrown in. I doubt whether the insurance companies would actually try to replace the bike given availability, but guarantees the value, that you pre-determine yourself, and then have signed off by a competant independant 3rd party, and its that that I'm trying to locate |
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vort28
Joined: 22 Mar 2010 Posts: 2194 Location: Northwest , UK
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Posted: Wed Sep 28, 2011 12:36 pm Post subject: |
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My brother looked into this with his RC45. The problem is, in the normal world, Mr Zippy has his blinged up Gixer, raps it around a tree and some spotty little shit get the glasses guide out and says 08 gixer thou , that will be 4k. Job done.
In what guide do you find Bimota or in his case RC45. When he dug deeper they said they would go to a SPECIALIST if no data in glasses. So he got the name of the bloke for Honda and rang him to see what price he would put on a mint low mileage RC45. £10-12k was the answer, and yet autotrader/ebay you are talking about 18-20k. Anyway , after numerous calls to FJ, they said dealer/club member/ or specialist. He asked what a specialist consisted of and they said anyone with knowledge of the model that could certify condition and value. He got local MOT station and bike nut to fill in form, which FJ approved.
And on the cost front , DB4, YB11 and SB6 cost be £300 all in. DB agreed at 9, YB=7 , sb=7.5. |
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