Helpful advice

[SPRIDDLER]

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.

In short, it was 8 years ago when I was hit virtually head-on in the correct position in a narrow country lane (no escape route) by a 7.5 tonne lorry on the wrong side of the road on a bend. Fortunately the police realised that the lorry had forward and side facing cameras. Whilst in hosp for two months (multiple serious injuries) I couldn't see Marigold but the first inspecting engineer wrote it off Cat B (bent frame and forks) from photos and offered a settlement of 500 quid as Pre Accident Value (PAV), no option to buy the 'salvage'. I told him he was daft. A second engineer inspector raised it £1000, no option to buy back the salvage. Quote: "Only AIB approved breakers can purchase Cat B write-offs".
I know Marigold wasn't a pretty machine (more than 32,000 miles in 5 years) but a grand wasn't enough for a newly MOT'd, matching numbers, brand new tyres and chains, mechanically reliable very original bike? ('54 G3LS). I refused their offer.
I had a great deal of help (valuation, recovery of my tools etc.) from the club (the then President currently Chairman, Roy )
Four months later when I was a bit mobile on crutches I had the bike recovered home from Essex under my breakdown cover. I had the frame checked professionally in a jig and it was twisted 2.5mm. In view of photos I've seen of the factory's frame assembly dep't I argued that it was probably like that from new but I had it corrected and certificated whilst I was there and the ins. co. (Carole Nash) eventually (after 28 phone calls and 17 emails) changed the classification and paid me £1000, enabling a section pal to rebuild the bike as I still couldn't stand and couldn't use my right arm or hand (still can't).
I was also told that agreed value only applies if the bike's stolen.
As an aside I was told that few ins. co's offer Third Party cover as the premium wouldn't be any less than fully comp since their major risk is not the bike's value but the potentially huge 3rd party compensation claims for injury.

Even the gear lever shaft was sheared clean off........

Marigold collision damage 23 Aug 2010 (640x480).jpg

[Mick D]

Hi

Interesting comments re agreed value only applying to stolen vehicles - this is a quote from my agreed value policy:

Loss of or damage to your vehicle as
shown in your schedule for accidental
damage, fire and theft. We will either cover
your costs to repair, pay a cash amount to
replace or replace the damaged item. The
most we will pay for the loss of or damage to
your vehicle is up to the value shown on your
schedule.

Which seems to imply they will pay up to the agreed value - or should I be more cynical in my interpretation?

Regards Mick

[clive]

Be more cynical Mick!

[SPRIDDLER]

Out of interest I've just spoken to my current insurer, Peter James, who confirmed that the Agreed Value would be paid regardless of whether the bike was stolen or written off.
He also said that they do not offer 3rd party only cover on classic bike policies.

[Plugsnpoints]

Out of interest I've just spoken to my current insurer, Peter James, who confirmed that the Agreed Value would be paid regardless of whether the bike was stolen or written off.
He also said that they do not offer 3rd party only cover on classic bike policies.

Hi Nev, that's reassuring to me as I have mine insured with Peter James. Thanks for posting that

[spitfire]

The problem is you never know how good an insurance company is until you make a claim. Try and find someone who has been paid out full agreed value on there bike because it has been written of, I bet you wont find anyone. There is no set definition as to how or why a bike is written of so the ball is always in there court. They will always offer you less than agreed value unless the bike is stolen. It does not matter which company you are with, they are all the same.
Peter james is a very good company and I have been with them for many years and still am, but I have never had to make a claim.

[Plugsnpoints]

As I previously said in a previous post, the insurance company I had to deal with (who offered me a fraction of the agreed value of my classic motorcycle) was Footman James. They did pay out the full price eventually but it involved a solicitor before they did. I would never recommend or use that firm again. Mine was clean cut, and the agreed value was on a printed document. It was very tough to have to deal with after being released from hospital on top of everything else. There's been various condescending comments on here about how things are different now, I don't believe that. I assume the comments come from people who haven't been in a similar situation. Accidents do happen, it's a fact of life, but Footman James were just horrible to deal with.

[SPRIDDLER]

Exactly my experience with Carole Nash. Impenetrable call centre with disinterested staff following scripts, had to repeat the details to a different person every time I called and utterly incompetent assessors - at least in regard to my classic bike.

[g5wqian]

although i have bike insured with peter james , i have a classic car insured with footman james and with the car insurance i paid extra for salvage recovery so that in event of accident etc i have the salvage and the vehicle doesnt get taken away .

i was reading up on some insurance info and for vintage vehicles it did mention they cant be written off , because they are able to be rebuilt and many are made up of parts or restored vehicles anyway , which means they are not like new vehicles recently manufactured within last few years .

[SPRIDDLER]

although i have bike insured with peter james , i have a classic car insured with footman james and with the car insurance i paid extra for salvage recovery so that in event of accident etc i have the salvage and the vehicle doesnt get taken away .

A vehicle cannot be 'taken away' without the owner's consent (unless it has been involved in a crime, is a stolen vehicle, dumped and/or untaxed and/or uninsured and not on SORN).
It always remains the owner's property regardless of the wishes of an insurance company unless the owner accepts a write-off settlement when the buy-back is negotiable. If the vehicle has been settled as a Cat A or B total write-off (not merely 'uneconomical to repair') it can only be destroyed/dismantled by an AIB registered breaker.
Owners choose comprehensive insurance (on the ins. co's terms and valuation) to protect their assets (voluntary) or a min of 3rd party cover (obligatory) to compensate a 3rd party for any damage for which the vehicle owner is responsible.
When their own vehicle is damaged without a 3rd party being involved the owner always has the option not to inform the ins. co. at all.
My conclusion after much involvement is that insurance companies are not in business primarily for their customers' benefit.