I have recently been involved in a crash (hit by another driver, accepted liability) so i take my bike for a repair quote and the guy has said he will do me a quote but its likely to be a write off. Will the insurance pay me out the lowly £250 i said my bike was worth which will not get me another suitable bike or will they get me a new bike?
They will pay out the market value of your bike the day before the accident but not more than £250.
They will not get a bike – they pay out money and you can spend it all on mars bars if you like – you need never buy another bike if you do not want to.
Remember as well that if the bike is written off the insurance policy ends there and then and if you are paying monthly they will deduct the outstanding months from the £250. If you do get a new bike then you will then have to start a new policy
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3 users responded in this post
the insurance companies have an independant advisor in england and wales and the value of you motobike is assed by such person based on age and milage they wil pay book price if you want to know the book price go to parkers guide and it wil tell you if tyou feel its worth more than the offer you can ask for a recosideration but you have to give a reasonable argument this is because insurance companies are not allowed to make any body monatry better of hop this helps
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legal ex
right . forget the 2 answers above . you will get VERY LITTLE . so just get a fresh ( at your cost ) bike and what pittance you do get from the insurers spend it on beer.
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real world experience .
They will pay out the market value of your bike the day before the accident but not more than £250.
They will not get a bike – they pay out money and you can spend it all on mars bars if you like – you need never buy another bike if you do not want to.
Remember as well that if the bike is written off the insurance policy ends there and then and if you are paying monthly they will deduct the outstanding months from the £250. If you do get a new bike then you will then have to start a new policy
References :
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