Insurance Bike Value?

You should get a fair idea from watching eBay sales. That said the insurers will only give you what they consider market value regardless. I have my bikes on an agreed value policy, where in the event of total loss or theft they pay a fixed & agreed amount. It costs an extra £25 a year for this.

 

I know when I've gotten online quotes from go compare, they normally show the private and retail values

 

They will start at part ex book price and adjust depending on condition (down) and/or how much you fight them for it (up)

 

My insurers have accepted agreed value of £25,000 for the Hailwood Replica 900. I had to supply evidence.

Not much point trying to do this for modern bikes which are depreciating each year.

 

Depends on your bike imo. If you add Mag or carbon wheels, top quality paint job, new Ohlins front & back, Termis, carbon fairings etc, for £25 to be certain you will get all the money back its not a terrible idea as you will have spent £5K+

 

Maybe. But modifications from OEM specification may not add much to the market value in the real world. The more extensive the modifications, the smaller the pool of potential buyers.

 

There's a 10 year limit for agreed value with most i.e. the bike has to be 10 years old or more - costs £10 extra on one of my multi bike policies for all the bikes on it - that's 1 x £10...

 

Be interesting if you ever actually have a claim, what they find to enable them weasel out and pay you 14k for that Bayliss

 

Totally agree with you.

If you sell the bike you have bought all the aforementioned goodies for, you remove them and sell here or on eBay, putting it back to standard. If some scuzzer nicks your bike, or it gets smashed to bits in a crash without an agreed value policy you will lose that money.

 

I have one on said policy @£26,000 (it was just too young for agreed value) and one on the road @£14,500 but will up it to £20k next year if it remains on the road.

 

Its a catchy, as some may find out eventually. Unless its classic agree, like Pete’s, they will always try to knock off. Non standard sir? In a shed not garage sir? In the house, not a lockable garage sir? Where were the keys sir, in the house the bike was? What, not serviced sir? All these may lead to a decline then subsequent lowering of pay out.

So many ways the unscrupulous can weasel out. And a lot of it within the law and nothing the ombudsman can do. Some care about their rep: others dont.

I hear of some premiums on this forum, and really doubt the cover is as they think. Multi bike policies are pretty sparse these days, very specialist, and very expensive. Except to some forum member son here, who seem to have access to a binned set no one else does.

My vdub is insured as an agreed value at £16k. Pound to a penny if it was nicked or burnt out they’d be offering me 12k at best

Having worked in insurance for 20yrs, I’ve seen most stuff...

 

BTW with compare the market they sometimes fill in the value for you on a quote. Gives you an indication of what would actually be paid, at that point. (May have been mentioned above.)

 

A side note. If you have lots of bikes & cars, and can use commercial lines insurance NFUM are very good at multiple-vehicle insurance via one policy. And they pay far more claims than anyone else!

Not private lines tho AFAIK

 

I was going to check out this route next year, business / private insurance all in one - get what you say re garage / brick structure etc mine are all agreed in the log cabin or house with a submitted power point which was helpful to negotiate with the underwriter as it highlighted the level of security too...

 

Worth a call to your local agent.