Five months old, totaly tricked out, and she is gone. Im so upset... Fortunately, Im covered for theft...
However, I didnt keep receipts for all the parts Ive put on her, although I did send a digital pic of the bike to the Insurance Adjustor. My question is, how do I go about making certain that I am given a good value for my bike? Kelly Blue Book is a national database, and the value there will not replace the bike locally! Got any tips of how to get my insurance company to give me top dollar?? I owned her outright, so the money is going to another bike when I get it...but I want to make sure I get paid what it will cost to replace it here in SF, Califfornia...
Thanks...
2006-10-19 07:37:03 · 6 answers · asked by YDoncha_Blowme 6 in Business & Finance ➔ Insurance
Kelly Blue book is not what is used to arrive at actual cash value, if that's what the policy says is used to determine value. Some of the customization will be taken into consideration, but don't expect the value to increase significantly. Some policies will say that if you don't report customizations to them so that they can endorse the policy for them and rate your policy properly, that they won't be covered if damaged or stolen. Not sure if this will affect you.
2006-10-19 11:00:13 · answer #1 · answered by Chris 5 · 1⤊ 0⤋
Assuming "bike" means motorcycle, and not bicycle . . .
You don't. Your policy is written on an "actual cash value" basis, which means the value for a standard bike - no tricks. If when you purchased the policy, you included "customizing equipment", aka, tricks, then that amount is shown (stated value) in addition to the standard bike value on your policy, and you pay an additional premium for it. At the time of loss, customizing equipment is added to the base value of the vehicle IF YOU PAID FOR THE ENDORSEMENT.
Best you can hope for, is maybe you paid for some of the parts with a credit card that included theft protection for a year from the date of purchase - I'd check there.
Sorry to be the bearer of bad tidings.
2006-10-19 15:26:00 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋
Some companies give a certain amount of customized coverage for free. I stress 'some' companies.
Did you add any custom equipment to your policy? Can you find credit card receipts for equipment or can you go back to those shops and get duplicates? You may have to sit down with the adjuster and the picture of the bike and point out special features, but if you didn't add the extra coverage or it isn't included in the policy, you may be out of luck. Its a hard lesson to learn. Sorry.
2006-10-20 10:06:54 · answer #3 · answered by mei-lin 5 · 0⤊ 0⤋
If your bike is stolen,first of all you have to file a FIR with your local police department,obtain the certificate from them ..they did not trace it.Now along with your Loss report written by the police Dept submit to your Insurance company if you are covered for the loss or theft.Insurance company can pay the amount which is fixed by the manufacturer less Five months depreciation's,and some incidental charges..well if you purchase another bike or no,Insurance company has nothing to do with it,With this bike (which is in theft-stolen) for that Insurance company is liable.When you get new one,you can contact the Insurance company for cover.
2006-10-19 14:47:10 · answer #4 · answered by precede2005 5 · 0⤊ 1⤋
Edmonds.com has valuation by zip code
did you have the parts put on at a shop or dyi? the shop might have record of it (or at least your purchases).
And the ins co is gonna do whatever's best for THEM, so brace yourself for a lesser valuation.
Finally...I dont like your name.
2006-10-19 14:41:15 · answer #5 · answered by Munya Says: DUH! 7 · 0⤊ 1⤋
Who cares about your bike you stupid *****! My friend was on here and you said n***** about the question she was asking. **** you!!!
2006-10-19 19:35:23 · answer #6 · answered by Anonymous · 0⤊ 2⤋