UK Monster Owners Club Forum » .: Technical :. » Service/Dealer & Insurance » Agreed Value Insurance

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Old 16-07-2020, 07:30 PM   #16
slob
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Join Date: Jul 2003
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Bike: Multiple Monsters
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screenshot of a similar bike listed at £13k couldn’t hurt (even if it didn’t sell)
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Old 16-07-2020, 10:32 PM   #17
Jez900ie
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Join Date: Nov 2016
Location: Stoke on Trent
Bike: M900ie
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Flip I'd start with watching ebay to see what bikes of your year fetch. Then you decide whether yours is better or worse than those you see which sold.

As I mentioned earlier, I estimated a 2002 900ie has a trade value of £2K. I then listed all my major upgrades and totalled up what they cost (replacement value of £5K. With that done I decided that I want £5.5K if my bike is stolen/ written off etc.

I sent the list of mods, photos etc together with my valuation and the insurers -Bikesure- said they would gurantee to pay that amount provided I paid an additional £35.

Now the actual value of my bike is of course only whatever someone would pay for it. My valuation is the amount of money I would need to stop crying if disaster happened. Its also an amount I thought the insurers would gamble on; would they have refused if I valued my bike at 10K? Would the premium have been an additional £100 if I asked for a higher value? Also the theft in your home area will be a key factor for them to consider.

So I wouldn't over think it. Check the market, work out what money have in the bike & decide on the value you want & can justify. Then hopefully the premium will be in a range that is acceptable to you.

I hope this helps, and its what I ought to have written previously - sorry.

JEZ
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