Insurance claim

[jbevuk]

HI, I recently had my bike stolen. it was a gt aggressor zum2 http://www.thebikelist.co.uk/gt/gt-zum-s2-2009 it cost £419.00 and I really liked this bike and was kept in perfect condition. problem is the insurance company thinks a voodoo Marasa priced at 279.99. is a like for like replacement. I don't like the look of this bike and I also feel like the quality of my old bike was higher. but I'm by no way an expert on them. Could I please ask your opinion on whether you think this is a fair like for like swap?

Thank you for your time.
Jonathan

 

[CopperCyclist]

Do the insurance company replace "new for old" - I. E. They replace without taking depreciation into account, or are they allowed to value your 420 from new bike as a 300ish second hand bike, which seems about reasonable...

I haven't gone down in detail, but the spec of both bikes seem very similar (tektro brakes, shimano acera gears) so I don't think they will be very different to be honest - definitely competing in the same league at the very worst!

However, if the insurance day they replace new for old, stick with your guns and look for a bike priced at 420

 

[Paul99]

HI, I recently had my bike stolen. it was a gt aggressor zum2 http://www.thebikelist.co.uk/gt/gt-zum-s2-2009 it cost £419.00 and I really liked this bike and was kept in perfect condition. problem is the insurance company thinks a voodoo Marasa priced at 279.99. is a like for like replacement. I don't like the look of this bike and I also feel like the quality of my old bike was higher. but I'm by no way an expert on them. Could I please ask your opinion on whether you think this is a fair like for like swap?

Thank you for your time.
Jonathan

They are probably looking at a like for like on spec and so it is reasonably close.

If you are not happy with it, don't accept it.

 

[vickster]

My insurance company gave me a cheque for the cost of the bike and accessories. Say you'd like to source your own replacement

Don't forget to factor in any policy excess

 

[jbevuk]

Thank you for your replies. I have now told them I don't want that one. and they are going to get back to me in 24 hours but I get the feeling that's the one I'm going to get. I feel that my old bike was worth more than that. But maybe that is just my attachment to it. My policy booklet says " We will replace it with a new pedal cycle, or pay the cost of replacement as new if available, or the nearest equivalent, less any discounts available".

 

[jbevuk]

After refusing the bike offered, I was given a £400.00 voucher to get the bike I want!!!