Insurance claim question

[Jantar]

I'm sorry guys, I clearly realise there were so many Insurance experts reading kiwibiker.

Sorry, for that misconception. The issue here is not an insurance one as the question was asked about someone who is uninsured having a not at fault accident.

[Ender EnZed]

and by registering it as a "renegade master 250" rather than a honda cbr 250, they wont be able to get a market value

It will still have a market value. "Market value is the price at which an asset would trade in a competitive auction setting."

[Parlane]

It will still have a market value. "Market value is the price at which an asset would trade in a competitive auction setting."

Is "market value" a law in New Zealand? Or something used by insurance companies to let you know how much they will cover you for when you insure with THEM?

I assume it's illegal to crash in to someone, and illegal to not then pay them for the damage? So what does the law actually say for reparation ? Isn't market value a keyword in the insurance business, not the law?

[The Pastor]

Is "market value" a law in New Zealand? Or something used by insurance companies to let you know how much they will cover you for when you insure with THEM?

I assume it's illegal to crash in to someone, and illegal to not then pay them for the damage? So what does the law actually say for reparation ? Isn't market value a keyword in the insurance business, not the law?

That is what I think.

[The Pastor]

It will still have a market value. "Market value is the price at which an asset would trade in a competitive auction setting."

Yeah, but custom bikes on trademe go for 10's of thousands of $$

[scumdog]

Yeah, but custom bikes on trademe go for 10's of thousands of $$

ALL customs?

And do they all go for the asking price?

'Custom' you're bike may be to you but it might not appeal to many.

A raked-out chrome-bedecked custom painted Harley clone will go for top dollar- bigger market.

I suspect your bike would be in the 'personalised' rather than 'custom' catagory - but I might be blowing smoke out my arse (again you say!)

[The Pastor]

ALL customs?

And do they all go for the asking price?

'Custom' you're bike may be to you but it might not appeal to many.

A raked-out chrome-bedecked custom painted Harley clone will go for top dollar- bigger market.

I suspect your bike would be in the 'personalised' rather than 'custom' catagory - but I might be blowing smoke out my arse (again you say!)

well its not finished yet

but yeah i've "personlised" everything on the bike. Not one bit stock left. (well the most of the frame and tank is stock, but painted/ powder coated)

[The Pastor]

well its not finished yet

but yeah i've "personlised" everything on the bike. Not one bit stock left. (well the most of the frame and tank is stock, but painted/ powder coated)

And the number plate, that is stock.

[Parlane]

well its not finished yet

but yeah i've "personlised" everything on the bike. Not one bit stock left. (well the most of the frame and tank is stock, but painted/ powder coated)

Fixed for you: