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Bike Insurance

Dinging · 2012-06-20 11:12:10

So I bought a bike, paid 2K for it, it was heavily discounted and was a 2010 model. The chances of replacing this bike from new would be nil as the frame is no longer in production. Cost of the new 2012 model is 3.5K. Say the bike is stolen and the insurance company pay out 2K. In my opinion I would be at a loss as I would…

20-06-2012 11:12am

#1

Dinging

Registered Users, Registered Users 2 Posts: 272 ✭✭

Join Date: September 2005

Posts: 238

So I bought a bike, paid 2K for it, it was heavily discounted and was a 2010 model. The chances of replacing this bike from new would be nil as the frame is no longer in production. Cost of the new 2012 model is 3.5K. Say the bike is stolen and the insurance company pay out 2K. In my opinion I would be at a loss as I would in no way get bike of similar spec for that money to the bike I bought and insured. My question is can I insure the bike for 3.4k and pay the premium for insuring a bike of that value in case it was ever stolen I could replace like with like and would be no better or worse off.

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