Helpful advice

[mjf65]

I rang our very helpful spares section up this afternoon after a few parts from my minor spill and mentioned that I had contacted my insurance and they were sending an assessor out on Thursday. I didn't get the chaps name but he advised me that putting it in the hands of your insurer would risk the bike being written off for very minor damage and then I may pay a heafty sum to buy it back as a settlement and the bike would be devalued due to it being a write off. I managed to ring my insurers and explain that I'll sort the damage myself and hence not claim on the policy. Whoever I spoke to, thank you for the advice, I think you may have saved me a pile of grief.

[ajscomboman]

That was most likely Andy that you spoke to at Kettering. Sadly what he said is correct, insurance companies are awful if and when you have to make a claim, seems worse with older vehicles. Unless you do some serious damage to your bike it's always better to bite the bullet and do the repair work off your own back, especially in this case where the work is only minor.

[Mick D]

So we might as well just buy third party insurance?

How does this work with 'agreed values'? (yes I could read the small print but first hand experience is probably more representative)

Regards Mick

[Rob Harknett]

If you only have 3rd party there's no point in agreed value is there ? How do you agree values of what ever a 3rd claim may be against you.

[Mick D]

Sorry Rob

Confusing post perhaps - I have agreed value fully comp insurance - I was asking what benefit this conveys over third party in the light of above comments.

Regards Mick

[Plugsnpoints]

As I stated in a previous post-when my "classic motorcycle" had an agreed value of £2800 (in 2004) and it was written off due to substantial damage they only offered me £800. I'm very cynical now despite you can insure a classic vehicle for £100. I would also recommend getting an MOT certificate despite they aren't a legal requirement now. You don't need to justify that your vehicle was roadworthy despite being perfectly legal. An MOT helps.


I'm talking from experience. I had only just been kept alive via a ventilator when I was knocked off my motorcycle, and was arguing with an insurance assessor when I was released from hospital. I had to employ a solicitor to get my settlement.

This classic fully comprehensive insurance isn't quite what it seems.

[Janet]

It may have changed in recent years but it wasn't always so. Several years ago, Spriddler was involved in a serious on Marigold. After much effort and determination he was able to get the 'write-off' decision written off.
Before that time, Glyn had a plunger BSA B31 stolen and set afire. At the time it was the only pretty bike he had.This would have been written off as uneconomical to repair but he told the assessor that he'd do the work himself so no labour charge. The assessor agreed except for repainting the tank which he said should be professionally done so added this to the value. Glyn received a payout and still has the bike.

Even if you don't claim, it can still cost you later because you've had an accident.

[Mick D]

Hi Andrew

That's thought provoking - so what does an agreed value represent? - any experts?

Regards Mick

[Rob Harknett]

Sorry Rob

Confusing post perhaps - I have agreed value fully comp insurance - I was asking what benefit this conveys over third party in the light of above comments.

Regards Mick

If you only have 3rd party insurance your bike is not covered. Any claim for your bike could only be if an accident was not your fault. 3rd party fire & theft would be another potion. There will always be a valuation problem with all types. I have not had a claim on a bike since 1957. My 55 G3LS needed a lot of new parts. All claimed off the other persons insurance including compensation for. I did have car write off a few years ago. I was offered what amounted to the value of the cheapest model in the range. The valuation £1500. I complained saying that's what Glass guide quotes for the cheapest model. My car model is not listed, as it was top of the range limited edition. The insurance got in touch with glass guides for a valuation, sent me a copy of the reply stating £5,000 which I excepted. My dealer took a month to find me an identical car with some 4,000 less miles. In good order for £5,500. So I was happy.

[spitfire]

Agreed value is only payed out if your bike is stolen.It is not payed out if your bike is written of or damaged.