Market value of your bike?

[Floppy disk]

Folks,

I made some enhancements to my Ninja in the last couple of months (crush knobs, rack, new chain, etc.) and since it is time to renew the insurance, I think these enhancements should increase its market value. And my insurance is based on that market value, which, according to the insurer, means that in case of complete reimbursement (write-off or theft) if I over-insure I would only get market-value anyway, but if I under-insure I would only get what I insured it for. So I need to basically get the insured value close enough to market value. But how on earth am I gonna be able to find that out ? I ain’t gonna put a fake sale on TradeMe for that, am I? Someone told me to call the Kawasaki dealer. But not only they don’t sell the 2008 edition obviously, but they would not know if my bike has scratches dents or if it is leaking oil fuel and rust all over the place, and that surely would impact on market value. Any idea?

[Gremlin]

Who services the bike? They should be able to give you a good idea.

Chain is a consumable, and often extras do not increase the value of the bike (especially basic stuff like knobs and rack), but simply make it more attractive to a buyer than the next one (if that's what the buyer wants).

Also, research any for sale, or better, the expired listings on TM for example, to get an idea what they're actually selling for.

[Brian d marge]

standard is best

is this bike new?

if its new ; take the standard fairings off and replace with aftermaket , keep standard in loft until resell time

if its s/h buy s/h fairings as good as u can find , keep one set for daily beater the other for selling

all the other shit you put on the bike is worthless

Stephen

[caspernz]

You're kinda overthinking the topic. As a previous poster has mentioned, standard condition gives best value. All the additional stuff you fit means jack. In some ways you could argue adding certain extras decreases the market value.....

Perhaps the most sensible way to gauge whether your current insurer has the right market value, ask for a quote from another bike insurer.

Most of us will at some point think OUR bike is worth more than the other thousand or so of the same model...so don't fall into that trap is all I can subtly suggest :shutup:

[DMNTD]

From what I can tell all you have done is add a pack rack and frame sliders. Adds no real value but will make it easier to sell however I would have the additions listed with your insurance company

[imdying]

I made some enhancements to my Ninja in the last couple of months (crush knobs, rack, new chain, etc.) and since it is time to renew the insurance, I think these enhancements should increase its market value.They do not. The chain is a maintenece item, that is, a fucked chain lowers the value, having a new one does not raise it.

The other stuff, it lowers it to. Tidy stock standard bikes are worth the most, all that other crap is to your taste, regardless of how important you feel crash protection is. It may however make it easier to sell, to the right person.

Look on trademe, and work out what it will cost to get a similar/age/mileage, that's the only number you're really interested in... how much to get you back where you were before your current bike expired (should it ever come to that). Make sure your policy covers all of your gear, helmet/leathers etc. Then you're golden :)

[EJK]

As they have already said above, adding accessories on the bike increases the value of a bike no more than a bike's worth $30 more when you fill up the tank.

[HenryDorsetCase]

the pack rack would make it way less attractive to me, I gotta say. While functional I really dislike the look of them.

My bike came with one but I binned it.

[Tazz]

Who services the bike? They should be able to give you a good idea.

Chain is a consumable, and often extras do not increase the value of the bike (especially basic stuff like knobs and rack), but simply make it more attractive to a buyer than the next one (if that's what the buyer wants).

Also, research any for sale, or better, the expired listings on TM for example, to get an idea what they're actually selling for.

x 2

Surprised nobody else has driven it home but with insurance you need to have a written valuation from a business in the industry. Best to ask them yourself what they'll accept and email a copy so they have it on file themselves.

Looking around yourself doesn't cut it and if your bike (or any vehicle you have) costs a pretty penny, it is more than worth doing, even annually.

I don't know what markets they get their figures from, but they seem to be able to find outrageous deals that we can't :rolleyes:

As for ad ons, keep the original parts and then pull them off and sell them separately when the time comes if you're worried.
Vehicles aren't called money pits for nothing. Just be glad it's a bike and not a boat :lol:

[Brian d marge]

Or a wife

Sent from my SC-01F using Tapatalk

[Old Steve]

I've found that, within reason, adding a thousand to the value of your vehicle/bike doesn't add much to the insurance cost. Insurance seems to be made up of a large fixed administrative charge and then little variation for reasonable differences in insured value. So it probably wouldn't cost much or any more to value a bike for $19,000 than $18,000 - if written off or stolen then they might only value it at $17,000 or so and give you that. You've got to watch automatic devaluation on your policy too as they value the bike down every year, so you've got to watch what they revalue it at.

I actually had to insure my ST1100 at $8000, they didn't insure for less than that. It was one of the cheaper insurances I looked at (with a company I felt confident with, despite their sponsorship of Queensland Rugby League). They said they'd value the bike if a claim was made, so I'd probably only get $4000 to $4500, but it cost me no more to insure for a nominal value of $8000 anyway.

[Hitcher]

Any idea?

"Accessories" add not a dollar to the insured value of your bike. I know this too well, having recently (a year ago) had a GSX1250FA run over by a Kenworth -- a "no fault" accident on my part. I got no credit from the insurer for the Powerbronze screen, Ktech front suspension, heated grips, Radguard, Rider saddle, or Leo Vince muffler that were fitted to the bike. Just as well the accident didn't happen the following weekend, after which an extra $1,500 would have been included for a Wilbers rear monoshock. Bugger it.

[Floppy disk]

"Standing on your mother's corpse you told me that you'd wait forever." [Bryan Adams: Summer of 69]" :facepalm: LoL. That must be the funniest quote I've seen for a while

[BigAl]

"Accessories" add not a dollar to the insured value of your bike. I know this too well, having recently (a year ago) had a GSX1250FA run over by a Kenworth -- a "no fault" accident on my part. I got no credit from the insurer for the Powerbronze screen, Ktech front suspension, heated grips, Radguard, Rider saddle, or Leo Vince muffler that were fitted to the bike. Just as well the accident didn't happen the following weekend, after which an extra $1,500 would have been included for a Wilbers rear monoshock. Bugger it.

I suppose better brakes were not part of the planned upgrade :innocent:

[Hitcher]

As it was not your fault could you not sue the owner of the Kenworth for the value of the extra parts as insurance damage to third parties is supposed to cover up to $1m I think

I guess I was relying on the advice of my insurance company. That way too I could have replaced damaged riding apparel and a scratched and dinged GPS unit. Alas I didn't, therefore I didn't.

[Hitcher]

I suppose better brakes were not part of the planned upgrade

Or the better low beam headlight.

[R650R]

One thing to note is what you have called 'extras' is what the insurance companies call 'modifications' (except for the drive chain etc). Not declaring them can result in grief...
Finally insured the DR as I realised that I wasn't going away on it as too scared to leave it outside motel etc and the price for a new one has gone up since then by a good grand or so...
Anyway mine is insured for the value of what I paid plus the extras I have put on it, now this is from the start date of ins so no doubt they will take into account mileage since then, wear and tear etc but at least its good start point.
Must be a lot of fraudulent driveway claims as there is a large excess if stolen from home WHILE NOT locked away inside shed. Asked about the big city issues and apparently i'm covered if visiting etc but apparently those that park in city in same place everyday do have trouble getting cover for that if any...