Insurance claims and the older bike....

Mycroft H

I spotted a thread on a bicycling forum and it got me thinking.

My bike is a nice enough touring bike - a miyata 610. Miyatas were never officially imported into Ireland or Europe for that matter so I'm guessing that makes them a rare enough thing here. I've been slowly restoring it up to pretty good condition (its not finished yet... ) with period correct new parts ect.

The question is. If someone hit my bike with their car, how would an insurance company look at it? Given that its a triple butted lugged steel touring frame that would be very hard to source in Ireland due to its age and the fact that there was never many of them here. Would I be looking at a cost to replace the item in its current condition or its market value (how would they assess that?)? Or would they point you at a comparable model?


Sorry if that sounds a bit confusing but its something that got me thinking.

cdaly_

When insuring it yourself, you would probably get a valuation done and lodge that with the insurer. In the case of somebody else damaging it, having that valuation might help.

piston

Surely they are obliged to either return it to the condition it was in pre-accident or else provide an equivalent replacement.

Remember that steel frames can have new tubes brazed in by a frame builder.

Beasty

I suggest you read the insurance policy - we are not in a position to comment when we do not know the terms imposed by the insurer

Mycroft H

Beasty wrote: »

I suggest you read the insurance policy - we are not in a position to comment when we do not know the terms imposed by the insurer

I'm going to have to have a look at the home insurance and see how things like this are covered. The bike itself is not specifically mentioned on the policy, perhaps something I should look into

Seve OB

BX 19 wrote: »

I'm going to have to have a look at the home insurance and see how things like this are covered. The bike itself is not specifically mentioned on the policy, perhaps something I should look into

if it is on home insurance they will probably look at it like this

"what do you mean you are claiming €1,00 for a stolen bike, sure you can buy a similar bike in Halfords for €200 so that'll do you"

A few years ago i had loads of stuff nicked from my car boot (i had been at the gym and just collected dry cleaning!) and in fairness i got a payout off the house insurance, but such things like my designer glasses which cost me about €400 I was given about €150, and similarily with other items and the value of the suits, which they must have thought I got in Yves St Bernard or something!