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A driver decided to run my over last year resulting in a dead carbon bike, he was arrested and that going through the courts, the bike/equipment is being dealt with by his car insurance (they admitted liability).
Bike certified as written off by bike shop, letter detailing all this and they've provided cost for a replacement. Insurance want to see original bike receipt and date of purchase.
Original 3k with upgraded wheels - 3.5 years old
Replacement 5k (its a top end frame)
Bike shop quote was 6.5k (they sneakily added wheels which work in my favour)
I'm fully expecting the insurance to say its was 3.5 years old and try and devalue the claim, my argument would be it impossible to replace it for that and it need to cover the cost of a replacement.
Has any one had similar recently and how'd it go?
I’m fully expecting the insurance to say its was 3.5 years old and try and devalue the claim, my argument would be it impossible to replace it for that and it need to cover the cost of a replacement.
It depends on whether your cover is "new for old" or not, and the value you'd insured it for (if you'd specified it). If it is, they shouldn't devalue it because of age. As ever, it all comes down to what the policy says, what's the policy say?
Are you claiming against the third party insurer or your own insurance?
Your own insurance may provide cover for new for old (check your contract) but the third party have no such requirement.
You're not making an insurance claim, you're making a claim for damages against the driver and their insurer is handling it for them. They should remedy your loss. If they could find a bike of same age and condition I think you'd have to accept that but if they can't I think it's their problem.
When I went through this recently, my 5 year old bike was insured for what I thought the replacement cost was (£4,000), even though I'd only paid £3,600. I discovered that the replacement (Canyon) was now £4,800. However, the insurer wanted to do it through Wheelies who could only offer a £6,500 Yeti as a suitable alternative - which they were seemingly happy to send me!
Because of timing / stock issues / not really wanting the Yeti, I ended up taking £4,000 cash (as above, that was the amount insured). They even waived the excess since they considered me to be 'underinsured'. It was completely bizarre - like they were throwing money/options at me that I hadn't even asked for. eSure, by the way.
EDIT: If you're claiming against the driver, just claim for the full amount and they will no doubt try and argue. But unless they can put the situation right again for less money, they're on a hiding to nothing. Hopefully!
Sorry yes, its a claim against the third party.
I'd be happy for them to find me a 3.5 (now 4.5 year old) replacement in the same condition but that aint happening. I do have solicitors (via British Cycling) but they are a bit crap and im expecting them to role over at the first sign of resistance, trying to speak to the guy is like trying to get an audience with the pope.
also a canyon. I did manage to replace it myself as it was my perfect bike, I had the money and I couldnt be doing a summer without a ride. some came available and I jumped on it (sold out in couple of days and have only just come back in stock and more expensive).
bit of a gamble but it had to be done.
Sorry, missed the third party bit. They're only obliged to replace the bike to the condition/value it had at the time of the accident, not to replace it for a new equivalent. I think you're in for haggling about what the bike was worth when you were hit, which will obviously be less than what you paid for it.
yup, similar thinking.
going in my favour are lots and lots of pictures of the bike (it was in mint condition) and the bike generous bike shop valuation. should give me wiggle room to cover the true cost.
Its a shame i have such little faith in the solicitor.