YES
Thought i would mention im one of these sorry sods working in the insurance industry.
So i thought i would share my knowledge to all you bikers out there who need those pain in the arse question answered
and dont ask for a quote cause im not doing one for you.
Originally Posted by gatch
\<\------look a bike
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Heres one... I have noticed some bike shops are reluctant to quote what a bike would have been worth after a writing off type accident.
If they do quote, they'll often lowball the value.
Is this anything to do with liability from the insurance cos end??
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Can I claim a rust fix up on insurance or can I claim old fairings on insurance?
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YES
This is a commen issue because its hard to tell what condition the bike was in before being written off.
doesnt affect cost or liability. i think some bike shops dont like dealing with
insurance companys. its an idiotic thing to do though cause most panel beaters charge alot higher for insurance companys cause they can make more money.
advise is find an insurance company that insures for agreed value. that way when you make a total loss claim, the insurance company wont ask for valuations and will pay what the bike was insured for.
YES
dont sit down
YES
wear and tear and rust is allways an exclusion and never covered by all insurance companys.
its seen as negligence that you wernt looking after your bike. same thing like if you leave your keys in your car and the engine running and it gets flogged, insurance wont pay out.
\<\------look a bike
Taking a small leap of logic, does this mean it is possible / likely that an insurance company will say you are negligent for NOT locking your motorcycle when you leave it at the local pub and it gets stolen? And therefore not give you insurance?
I'm talking about disk/cable/throttle locks here....
Cheer
STR
Azzurro!
i got a van for $3.5k off a mate - said van would normally sell for $5-$6k.
AA asked for my purchase price, and insured it accordingly.
I told 'em it would be 5-6K to replace, but they wouldn't budge from insuring it for purchase price.
is this common? should i have lied? i didn't (& still don't) wanna do that.
(I'm thinking of leaving AA anyhow; they're just paying lip-service to the LTSA anyways...)
cheers dude.
"Fit a front tyre you love, and put something round & black on the back"Il Dottore
Kiwi back at home!
how come excess is so high for theft?? Fuck me 2k no point insuring my bike at that basically as once they have revalued the bike I might get a dollar back!
I understand Dover having a high excess for crashing again for example but for theft, thats why you pay the premiums they demand.
YES
na that will never happen. it will be more like if you leave the keys in the bike. if its parked up normaly of and keys with you then stolen, then they will have to pay out.
Some companys offer discounts for extra security, if you add this on your policy, but never use it, they can call a breech of contract. kinda the same with contents insurance, if you have an alarm and it is on your policy you will get a discount on premiums, but if your are burgled and its not on, they will not pay out. but in most cases its hard to prove. you could say it had a lock and was stolen with it. they cant really prove otherwise, as they may of picked the bike up onto a truck or something
YES
Thats fair enough what they said.
The whole idea of insurance is to protect your belongings and if any thing unexpected happens is to put you back in the same financial positition that you were in before the time of loss.
this is in place to protect insurance companys from fraudsters. as you could buy a car of a mate for 2000 when its worth 5000, you write it off 2 months later and they pay out $5000, you have now made $3000. im afraid this is not how insurance companys work.
(you will be suprized how many there are out there)
you would be suprized that Insurance companys dont make alot of money. State and Tower both made a loss last year, AA made around a $400,000 profit which is measly when turnover is around 80million.
Kiwi back at home!
So lets see
pay 3.5 k for van bank balance reads $0 at this point
van stolen pay excess BB -$2000
bank gives you the difference BB$1500
buy van BB $-3500
yip that seems to work!>?
Shouldnt matter diddly squat what you paid for it! Its market value that they love to sput when it will make them a $$ so it should go both ways!
Anti static spray
yeah but profit excludes wages, so the employees are still getting paid, it's only the stockholders that will be losing out
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Popping wheelies on sj50's since 2003
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YES
highest excess i have added on a bike is $300, only time it goes up is if the bike is modified or not kept in a garage at night, call the company and find out if they will lower excess if you fit an alarm to the bike.
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