Bike values for insurance?

[FrothNinja]

Is there any easy way of getting a market value for older bikes?
I've got no idea at all.

 

[ebikeerwidnes]

I had no clue what they wanted and rang them up
in my case they wanted a value for a replacement with something similar - which does mean that I have to up the value every year as the price of a new one has gone up
What you do with a "vintage" bike is rather undefined I suppose - but "replace with a new version" would be a start - then(if needed) take the money and look for a proper replacement
Unless it is a true vintage one whwre it might have higher value - in which case I wonder if an auctioneer could help (and would they charge??)

 

[fossyant]

Depending upon your insurance, you'd probably look at a similar model's price 'now'.

 

[vickster]

What does the policy say? New for old or takes depreciation/market value into account?

 

[FrothNinja]

Policy states cost of replacement

 

[vickster]

Policy states cost of replacement

What bike is it?

 

[FrothNinja]

These are the bikes in question

 

[FrothNinja]

 

[wiggydiggy]

For my policy I found the bike online through the manufacturers website and used today's RRP as a guide. If you can't find the exact bike anymore choose a nearest match.

 

[FrothNinja]

Also a Dawes Galaxy, a Raleigh Winner, a Centurion 5 speed and a couple of much older bikes & a few smaller kids bikes. I think I have acceptable values for most of those but I may be wrong

 

[FrothNinja]

For my policy I found the bike online through the manufacturers website and used today's RRP as a guide. If you can't find the exact bike anymore choose a nearest match.

I've done that with a few of the newer bikes but it's a bit harder when the manufacturer has gone.

 

[FrothNinja]

Just found the modern version of the Vivid at Halfords for £180

 

[FrothNinja]

Someone is asking £150 for a non runner version of my Centurion that I ride regularly - though their's is 10 speed. Not convinced they will get that.
https://www.ebay.co.uk/itm/115294212371?hash=item1ad8121113:g:dFgAAOSwzN9iLyxP

 

[PaulSB]

Policy states cost of replacement

Then you should state the value as the replacement cost. If you don't you will be under insured and may find the insurers reduce any payout on a pro rata basis.

I have new for old and currently have a six year old bike covered for £6500! Far from what I paid.

 

[FrothNinja]

Then you should state the value as the replacement cost. If you don't you will be under insured and may find the insurers reduce any payout on a pro rata basis.

I have new for old and currently have a six year old bike covered for £6500! Far from what I paid.

The struggle is figuring the replacement value for bikes from defunct makers and/or trying to figure out what the current equivalent is. So much easier with cars where there are price guides for second hand vehicles