Difficult insurance question

[lawson]

Hi guys, just in the process of doing the old insurance for the fleet, and i have an issue i have never had to deal with before.

My bike is now as some of you may remember sporting a pair of Marzocchi RAC upside down forks.

I have no idea what their original retail price was, and i know of pretty much nothing that they are comparable to now.

How much do i insure them for?
The bike is currently worth about a grand minus the forks?
Help a boy out please. Mike

 

[lawson]

Bump as I have to do this tomorrow morning please

 

[jamabikes]

retail was about 600 iirc. just put what you paid for em

 

[Anthony]

The rrp in 2002 was £755! But their value now must be roughly what you paid for them, mustn't it?

 

[lawson]

I guess so, but if I declared value as 60 quid, and the bike went walkies, I wouldn't get anything comparable for the same money would I?
But if that's what you think I should do then I will.

 

[godders]

Having just had dealings with a claim for my car that was written
off whatever you think its worth the insurance company will only
pay out what they think its worth !!!! and there could be a big difference
between the two , sorry if this sounds a bit negative but insurance firms are great at taking your money but not so great at giving it back .
Mick

 

[Scrat]

If it becomes to hard to work out, i'd happily take them off your hands, you know, just to help out.

Insurance will want to know the current market value - so what you paid recently is a good starting point, but you'd have to factor in how often they come up for sale and if you'd be able to get another pair for the same money.

 

[highlandsflyer]

There are different kinds of insurance, some pay out purchase price some pay replacement value.

The more you pay the more you are covered for generally.