Insurance Claim

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Kentish_Dragon
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Insurance Claim

Postby Kentish_Dragon » Tue Dec 05, 2017 1:19 pm

Hi all.

need a little input here regarding an insurance claim.

My bike was nicked a few days ago from outside the house. The thieves only got a hundred yards away before dumping the bike cos it wouldn't start ( they cut the ignition wires & attempted to hotwire it, but the battery is flat)

Its going off to be assessed for potential repair, but I suspect it will be written off. So I need to be on the ball as regards their offer of payment.

Its a 1999/s R1100 s - non abs. 45,000 miles with service history. Full stainless exhaust system, Bmw Paniers, aftermarket accessory top box.

Aside from the theft damage ( cut wiring loom under ignition, cracked screen, scratched panier hanger, scratched engine rocker cover protector) and the dead battery (which is already on order) the bike is in good all-round condition - there a re a few light marks here and there as you get from careful daily use over 18ish years, nothing major or unsightly though.

Can anyone give me an idea of what she's worth ??

I've seen similar bikes for sales online from £1800 - £3500....similar, but not the same spec/age/mileage etc.
I asked the insurance company to send me copies of my documents today and they've already listed the claim with a loss/cost of £1495 for this claim - despite not having assessed the bike yet. Thats what makes me think they will write it off.

Any input or advice here would be appreciated.

Thanks

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Paul
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Re: Insurance Claim

Postby Paul » Tue Dec 05, 2017 3:17 pm

Sorry to hear about your troubles and I wish you the best of luck in getting a satisfactory result with the insurance company. I'm sure somebody will be along soon with a good idea on the approximate value of the bike. If I were in your shoes, I'd try trawling through e-bay and Motor Cycle News adverts online to try and find some reference prices for similar bikes.

Cheers,

Paul
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tanneman
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Re: Insurance Claim

Postby tanneman » Tue Dec 05, 2017 4:25 pm

Have a look on realoem (http://www.realoem.com/bmw/enUS/partgrp ... 22%2C0432_) but I don't think the whole harness is needed. Have a word with your local. It seems rather high for a repair. Maybe the quote has been loaded to aquire a breaker bike.
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Grip Fast
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Re: Insurance Claim

Postby Grip Fast » Tue Dec 05, 2017 4:31 pm

That's really bad. It makes me livid that some people are able to do that without conscience.

I can't answer your question, but what do the insurance company do with the bike after a payout when it's officially a write off? Do they keep the bike, or do you get to keep it? I imagine that there is money to be made in breaking it for spares on top of the payout (but I find it hard to imagine the insurance company allowing anyone other than them making money). It also sounds like it is still a good bike with a bit of skilled labour and spare parts, as a cat C write off.

Steve W
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Re: Insurance Claim

Postby Steve W » Wed Dec 06, 2017 10:41 pm

Hi

From my experience if you think you might want to have a go at rectifying the damage do not let the insurance company arrange collection / assessment especialy if it might be a write off as you will not get it back.
Try asking you local BMW dealer if they could collect it and asses the damage and then return it to you as I found to my cost that if you are not careful a non BMW repairer will start adding fair wear & tear items for replacement.

Steve

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bikemad99
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Re: Insurance Claim

Postby bikemad99 » Thu Dec 07, 2017 10:10 am

My experience with an insurance company(Saga) was excellent ,but it was for a written off Mazda MX5. They were very efficient,keeping
me fully informed of what was happening,every day.The engineer rang me with his report & money offer which was the top end of my expectations,and above retail book price.He said he had evidence of 3 similar cars for sale at dealers on or below the offer price which was what I had found.All paid up to my satisfaction in less than 3 weeks.Good insurance companies are very fare with honest claimants,so do not despare.
Reg.
2000 BMW R1100s
1964 Royal Enfield 250cc Crusader
2012 Mazda Mx5 2.0ltr Kuro.
2004 Roller Team Granduca 171.
1992 Jaguar 4ltr Sovereign.
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Reg & Gwen.

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The Teutonic Tangerine
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Re: Insurance Claim

Postby The Teutonic Tangerine » Thu Dec 07, 2017 1:32 pm

Grip Fast wrote:That's really bad. It makes me livid that some people are able to do that without conscience.

I can't answer your question, but what do the insurance company do with the bike after a payout when it's officially a write off? Do they keep the bike, or do you get to keep it? I imagine that there is money to be made in breaking it for spares on top of the payout (but I find it hard to imagine the insurance company allowing anyone other than them making money). It also sounds like it is still a good bike with a bit of skilled labour and spare parts, as a cat C write off.


If the insurance company pays out they keep the bike and sell it for scrap thereby reducing their loss - sometime you may be able to negotiate buying it back if its a Cat C or Cat D write off otherwise they've paid you so you don't get to keep the bike as well.

As far as value goes Auto trader has so Few R1100S's available it's impossible to get a feel for the right price. There is an R Reg (ex-press bike) at nearly £3,500 and another newer but with twice the mileage on the clock at about £2,500. Basically yours is probably worth in the region or £2200 to £2700 if you disagree with the insurance company and they refuse to move you can ask them to treat it as a complaint and then if still unhappy go to the Financial Ombudsman Service to get it settled they will use the dealers price guide to come up with the market figure based on model and age and mileage. maybe the threat of a visit to the ombudsman may get you an improved offer.
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Kentish_Dragon
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Re: Insurance Claim

Postby Kentish_Dragon » Fri Dec 08, 2017 7:53 am

Thanks guys - some good info there.

Bike's gone off to be assessed now.
And I have a call booked to speak to their investigation team this afternoon - which I think is a bit strange. Having googled them, they are fraud investigation specialists.

It still concerns me that even before they've assessed the bike or even seen my full statement, they've documented a claim valued at £1495 against my policy.

Anyway, armed with the info from you guys I'll await their next move......

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The Teutonic Tangerine
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Re: Insurance Claim

Postby The Teutonic Tangerine » Fri Dec 08, 2017 10:06 am

It will unfortunately be a claim against your policy as there is no other insured party involved to claim against.
There would appear to be a surfeit of prolixity and sesquipedalian content today please do not use a big word when a singularly un-loquacious and diminutive linguistic expression will satisfactorily accomplish the contemporary necessity

andy griff
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Re: Insurance Claim

Postby andy griff » Fri Dec 08, 2017 10:42 am

Kentish Dragon - if its written off you can offer to buy the 'scrap'. The bike will be recorded as a Cat D - uneconomical repair. There are loads of these vehicles now in circulation and given the age of the bike/value you should be able to the bike back on the road at a fraction of the insurer's estimated cost and have your old bike back and some cash in pocket.

Various sources say that you have the 'right' to buy the bike - but I cannot verify that at this moment ( sorry)

Depends if you love the bike and want it back

If you want the company to up their offer then I suggest collating Ebay/MCN?Autotrader photos of similar bikes and negotiate

Good luck

Neil178
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Re: Insurance Claim

Postby Neil178 » Sat Dec 09, 2017 6:14 pm

Man, that’s a bummer. I hope you get it sorted out ok.
What Andy just said above is spot on.
It’s still yours until you settle so don’t be hurried into a settlement.
I’ve read a few times that the insurance may try and low ball you with their first offer so expect that and refuse it. Submit the service history (if good) and as others said, have print outs from eBay etc to obtain a better figure.
My guess would be a private sale of £2950 fwiw. We should have a sweepstake!

Below is a recent post on Pistonheads. It’s kind of relevant to what happened here.
i.e. keep it out of sight whenever possible.
I really hate parking up and leaving it in town centres now.

“So I work with young people who use drugs. I educate and support them to make positive changes in their lives. One of the little "cherubs" I work with is a prolific motor bike thief and although completely unapologetic and without remorse for the things he does he was willing to tell me his top tips for deterring and preventing someone like him from getting your bike. So without further ado;
1. Keep it out of sight, if they can't see they can't nick it. He suggested keeping it in your house or garage, not a shed etc. If it's out the front or even in the back yard then its fair game as far as they're concerned.
2. Get some cameras up, they won't stop a determined thief but they may put them off in favour of an easier target. They can spot fake cameras so spend the extra and get real ones.
3. Get a dog. Or at the very least a "beware of the dog" sign. Lots of barking and the threat of getting bitten is a decent deterrent.
4. Big thick chain. As big and beefy as you can find. Attach it to a wall anchor rather than the floor as this makes it harder for them to cut.
Things that don't work; steering locks are easy to break so don't rely on them. The exception to this rule is the Harley Davidson which is apparently extremely tough and has foiled him and his mates.
Battery isolation switches, hidden kill switches etc. The lad I was chatting to has not yet found a bike he and his friends couldn't Hotwire. Hidden kill switches are easy for them to find and subvert. Btw he's only 14yrs of age and has stolen many dozens of bikes, cars, vans etc.
Manual garage doors. Folding electric garage doors are much harder to open than the tradition up and over manual doors which tend to be easy to bend and buckle.
Best advice is keep it hidden. Nothing revolutionary here but food for thought there, hope it's helpful.”

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ianbcr
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Re: Insurance Claim

Postby ianbcr » Sun Dec 10, 2017 11:53 am

Or take a hammer to the little bastards hands. :twisted:
Your born with a certain amout of heart beats, Dont waste them on exersise. [smilie=rooster.gif]


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The Teutonic Tangerine
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Re: Insurance Claim

Postby The Teutonic Tangerine » Mon Dec 11, 2017 1:42 pm

This might work
anti theft garage.png
anti theft garage.png (160.19 KiB) Viewed 8263 times


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