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Bike claim - beating the insurance company?

gunforhiregunforhire Posts: 457
in General Chat
My bike was stolen last week from a locked and then padlocked shed.
Sad but not the end of the world.
The problem I now have is that our Contents Insurance doesn't cover the value of the bike.
Only got myself to blame I guess.
The insurance company wanted to know where I bought it from, did I have a receipt, etc.
Thing is the bike has been 'built up'. You CAN'T buy an Orbea with Campagnolo!
Does this mean that I may be able to claim for the parts individually?
Thoughts, please.

As it stands I'm only going to get about £450 back from the insurance, whereas I should be getting about £1400!

Comments

  • JulesJules Posts: 987
    Don't suppose it matters, a "standard" Orbea is going to exceed £450.

    They are not going to let you get away with claiming for lots of different parts, each worth less than £450, but worth more in total. £450 will be your lot.
  • gunforhiregunforhire Posts: 457
    Mmm.... I'm going to give it a try though.
    I bought the frame on it's own a few years ago and then added the Campagnolo Veloce groupset to it myself, along with the Time carbon forks, carbon seat post, etc over time.
    I'm hoping a good LBS will be able to help out.
    As someone at work has rightly said, if the parts were lying on a work bench you'd be able to claim for them! The shed contents are covered to a value of £2000, so there may be some hope there.
  • nivaghnivagh Posts: 595
    This is why I store my bike with the race wheels off...

    Hard luck mate, sounds as though your insurance has a £450 limit on any item. I think it would be impossible to claim that a bicycle was really a £450 frame, £400 groupset, £400 wheelset etc.
  • md6md6 Posts: 969
    not sure there's much room for you to wiggle on this but good luck and let us know how it goes.
  • gunforhiregunforhire Posts: 457
    nivagh wrote:
    This is why I store my bike with the race wheels off...
    That would make a difference?
  • nivaghnivagh Posts: 595
    I hope so! Though perhaps in vain.
    Would definitely make it harder to wheel the bike away though
  • shadowone1shadowone1 Posts: 1,408
    GFH,

    Easy to sort out,

    1. Did you buy anything on Credit/ Debit card rather than cash? If so contact the bank to do a search of their record that show these transactions. Expect to pay about £5 for it.
    2. Pics - Send them to the insurance company. Then use price lists from Internet/ LBS to source similar products or actual products.
    3. Do any friends cycle - this one is illegal and I wouldn't recommend it but if they have random receipts?????

    Serioulsy 1 & 2 are your best options. The burden of proof lies with the policy holder on this one so you need to prove you had the items in the first place. So anything that ties you to the bike via pics/ receipts, anything can be used. What they will do is index link the wear and tear, so expect them to try and pay less than the gross sum they insure for.

    I have contacts in the insurance world so if I can help then let me know.
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