Insurance company telling me I have to go through Wheelies...is this right?

[fossyant]

Ask for the cash or even send them links for the replacement. You'll only get upto the insured value.

If involved in an accident, you'll only get the third party offering 'used value' - I was told this by my solicitor handling my case, but the bike damage was minimal.

 

[grellboy]

Ask for the cash or even send them links for the replacement. You'll only get upto the insured value.

If involved in an accident, you'll only get the third party offering 'used value' - I was told this by my solicitor handling my case, but the bike damage was minimal.

Btw, " Ride it like you stole it?" Having chased the thieving little shitbag til I lost him in the maze of alleys on his patch, I can indeed confirm that when the little twat rode it, he was indeed pretty quick. Still woulda caught him though if he didn't have "home advantage"!

 

[fossyant]

Btw, " Ride it like you stole it?" Having chased the thieving little shitbag til I lost him in the maze of alleys on his patch, I can indeed confirm that when the little twat rode it, he was indeed pretty quick. Still woulda caught him though if he didn't have "home advantage"!

Well, you'll catch the little sod at some point, if it's not been sold on. Kids are quite fast but don't have stamina. My lads quick on a MTB climb for the first 50 yards, then runs out of puff.

 

[grellboy]

Funnily enough, after spotting him on it, then chasing and losing him, I was actually more annoyed that the little scrote got away than that he'd nicked it in the first place!

 

[classic33]

My LBS warned my that this was likely to happen as I'm currently going through a similar process (but for a SMIDSY), their advice was that you should just argue with them and insist you just receive the cash. It's just a deal they have set up with Wheelie to try to send trade their way.

I got my replacement from the same shop that I bought the now written off bike from.

There was no arguing over who'd be supplying the replacement.

 

[classic33]

Ask for the cash or even send them links for the replacement. You'll only get upto the insured value.

If involved in an accident, you'll only get the third party offering 'used value' - I was told this by my solicitor handling my case, but the bike damage was minimal.

Mine was replaced new for old, but I'd been in touch with the company that made them(If that made any difference) and was able to forward their response on.

Bike was just under two years old when it was written off.

 

[User482]

My wife's bike was stolen recently, so we're going through this at the moment.

1. If she uses Wheelies, then the amount she has to spend with them is the full retail value of the bike and all its accessories. There is no cash refund if you spend less, and the excess is paid additionally.
2. If she takes a cash settlement, it's the full retail value less 20% and less the excess.

My wife is going to add the excess to the cash settlement, and see if the LBS can do a deal.

 

[grellboy]

My wife's bike was stolen recently, so we're going through this at the moment.

1. If she uses Wheelies, then the amount she has to spend with them is the full retail value of the bike and all its accessories. There is no cash refund if you spend less, and the excess is paid additionally.
2. If she takes a cash settlement, it's the full retail value less 20% and less the excess.

My wife is going to add the excess to the cash settlement, and see if the LBS can do a deal.

When you say "the full retail value" of the bike, do you mean the price that exact model currently retails at in the shops? Or do you mean the amount you actually insured the bike for with the insurance company? Coz I paid £590 for mine, insured it for £750 coz that was the actual cost if it hadn't been for flash sale/ british cycling discount and the new model of the same bike is now at £1000!

 

[GrumpyGregry]

I've concluded that cycle insurance is broadly an uneconomic proposition. But then I have relatively high levels of savings. And some very strong locks.

 

[User482]

When you say "the full retail value" of the bike, do you mean the price that exact model currently retails at in the shops? Or do you mean the amount you actually insured the bike for with the insurance company? Coz I paid £590 for mine, insured it for £750 coz that was the actual cost if it hadn't been for flash sale/ british cycling discount and the new model of the same bike is now at £1000!

Yes.

 

[spen666]

Hasn't been fully approved yet but my insurance compant tell me that if they can't source a replacement for my stolen bike (which they can't because the new version is £250 above my limit) then I will have to get an alternative from Wheelies or perhaps Halfords. I have found a bike I like for £799.99 on Tredz - the same model is on Wheelies for £1049.99!!! So do I have to get a bike from Wheelies does anyone know? Or can I force them to let me get it from where I want?

It depends on the terms of the contract ( insurance policy ) you have with your insurance company as to the terms of your cover