Author Topic: Insurance - Agreed Value or "market forces" ?  (Read 647 times)

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Online Tailchaser

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Insurance - Agreed Value or "market forces" ?
« on: February 11, 2019, 04:35:52 PM »
Hi, looking for some advice/opinion on insurance - do you folks fill in a "motorcycle condition form" and hence the insurance is for an agreed value (which could be less than what the market dictates should you suffer a total loss) or do you just supply a "current valuation" and therefore you'd get the actual market value in a total loss situation. Seems a bit of a "swings and roundabouts" situation to me.

cheers,

Jeff
RD250E & 2 Connemara (1HP) ponies!

Offline Motty

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #1 on: February 11, 2019, 06:40:01 PM »
Agreed Value

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Offline RDDave

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #2 on: February 11, 2019, 07:01:22 PM »
I go the agreed value route, but when they agree i always think i should have upt it a bit more... :)

Offline ozmadman

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #3 on: February 11, 2019, 11:13:16 PM »
Agreed value as the market value of 40/50 year old bike will be less than the cost of the insurance, which itself will be greater than classic insurance .  I use Peter James and will not use anyone else.  Two bikes both agreed value (£3000 and £3500) fully comp  £98 a year all in for both
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Offline Steve Moffat

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #4 on: April 01, 2019, 01:05:56 PM »
Hi,I have my Z1"s agreed value with Carol Nash and will be adding my 400c soon,been with them for donkeys years and pleased with the policy and the price but have never had to make claim that"s when you find out how good the policy is.Has anyone made a claim with an agreed value policy and did they have any problems.
Kawasaki zrx1200r.Z1a,z1b,Yam xjr13sp,rd400c project

Offline Solder

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #5 on: April 01, 2019, 02:04:32 PM »
I've got my RD250e on Agreed Value and have just upped the valuation. I was with Footman James but after yet another price hike I've gone to Peter James. I've got an increased Agreed Valuation, lower excess and exactly the same other cover for £58 less  :o

The thing is I find it difficult to know if I've pitched the agreed valuation at the correct mark. A bike is only worth as much as somebody is prepared to pay for it etc.

Mine is a fairly rare beast in as much it's got excellent provenance. It's only ever been owned by me and my brother. Original bill of sale all previous tax discs and MOT's etc. to prove mileage. Matching numbers and 95% original parts from the day we first had it. In great condition mechanically and had full nut and bolt restoration by me with all bills to prove it. What's it worth? Who knows.

I'm not going to sell it but if some scally steals it I'd like to be properly compensated.

Offline GAZZATT2

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #6 on: April 01, 2019, 05:14:39 PM »
Had a cat D  written of because new parts are not available
Agreed value no argument paid out less the salvage as i kept the bike
all claimed of the other side in the end including injury and clothing
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it did look good in a photo lance ?
Picture026" border="0

Offline Steve Moffat

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Re: Insurance - Agreed Value or "market forces" ?
« Reply #7 on: April 02, 2019, 02:19:03 PM »
Glad it worked out okay for you,got my Zeds on agreed value 13k each but always wonder if they would pay out if the worst happened.
Kawasaki zrx1200r.Z1a,z1b,Yam xjr13sp,rd400c project