wondering if anyone has experience of claiming for a stolen retro bike and how your insurers covered the loss?
I've recently had a 91 Cindercone (upgraded with LX / XT components to make a 1x9 speed commuter) and a home assembled Single Speed MTB (using 2nd hand one-one inbred frame and new parts) nicked. Insurers have confirmed that they are covered. I've sent them photo's and details / components lists etc and i am just waiting to hear how the insurers intend to cover the loss. My policy is clear - they fund a new for old replacement or if you don't want that then they'll pay you the "market rate".
Problem is I understand that insurers these days decide upon the appropriate replacement bike/s and then provide that level of vouchers for their preferred provider. But neither of my bikes are "off the peg" and I wouldn't consider a new cindercone to be an appropriate replacement
The ideal outcome would be a fair sum of cash to fund 2 builds as close as possible to what were nicked. I'm not looking to "gain" from the situation - just replace what was lost
Anyone any experience, ideas or views about how the insurance co may try to handle this claim and how I could argue for my preferred outcome? Thanks in anticipation....
I've recently had a 91 Cindercone (upgraded with LX / XT components to make a 1x9 speed commuter) and a home assembled Single Speed MTB (using 2nd hand one-one inbred frame and new parts) nicked. Insurers have confirmed that they are covered. I've sent them photo's and details / components lists etc and i am just waiting to hear how the insurers intend to cover the loss. My policy is clear - they fund a new for old replacement or if you don't want that then they'll pay you the "market rate".
Problem is I understand that insurers these days decide upon the appropriate replacement bike/s and then provide that level of vouchers for their preferred provider. But neither of my bikes are "off the peg" and I wouldn't consider a new cindercone to be an appropriate replacement
The ideal outcome would be a fair sum of cash to fund 2 builds as close as possible to what were nicked. I'm not looking to "gain" from the situation - just replace what was lost
Anyone any experience, ideas or views about how the insurance co may try to handle this claim and how I could argue for my preferred outcome? Thanks in anticipation....