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Hi all - Unfortunately I had my 2015 Kona Process 153 DL stolen from my Girlfriend's garage on the early hours of Tuesday morning whilst we staying there for a few days.
I have posted pictures of it all over Facebook and alerted the local bike shops and police are involved. I don't hold much of hope of getting it back.
The bike is only insured at my property on my insurance but it may be covered on my girlfriends parents contents insurance with Privilege. They are currently trying to argue this through with them as they only cover bike's up to a value of £500 however someone we spoke to at privilege mentioned that as the bike isn't theirs and they are were looking after the item it is classed as a personal possession which has a max limit of £2500, the argument continues... Anyone any thoughts on this?
My main question is regarding the process of claiming (amount irrelevant), currently a few bike shops have my exact bike at a heavily discounted rate, I'm in 2 minds whether just to snap one up before the all sell out but how do insurance companies usually pay out? In a voucher for me to spend on anything or will they source and replace the bike (how would this work if they only pay out £500?). I don't want to lose out on replacing the bike more cheaply than I have to but equally I don't want to buy a bike and then get another one from insurance!
Any advice would be much appreciated.
Thanks - Jonny
Recently went through a claim on my own insurance following a break in and theft.
I was transferred to an agent, namely Wheelies, who I understand do loads of work for bike insurance replacements.
They were really good and sorted me out a replacement rather quickly - I was impressed to be honest as I was expecting it to be much more difficult.
I have heard of people who have refused the off the shelf bikes Wheelies have, preferring cash to put together a custom build so this might be available.
Hope you get sorted.
Usually you get a cash settlement at 25% less than what wheelies are selling them for.