Bike Insurance Claim - Question

shockedsoshocked

Basically had a run in with a Skoda which resulted in one mangled bike and a broken clavicle (woohoo).

Two days later, I get offered a job. Can't take it as I can't move my arm. With me being a student, I rely on working through the summer to get some money together for the following year. Being unable to do that, I am now royally skint.

Now, my bike is insured for 6k. My solicitor has all the details, and the police are on my side completely (a few witnesses who all berated the driver in error for speeding immediately).

Basically, what I want to know is, can I strip my bike (full DA) and sell the parts to raise some money? The bike is a write off, no doubt about it, as frame is visibly cracked. The insurance from the guy who wiped me out might want to see it though and inspect it though.

Any suggestions?

redvee

As you had a job offer you had to turn down, loss of earnings can be added to the payout.

shockedsoshocked

redvee wrote:

As you had a job offer you had to turn down, loss of earnings can be added to the payout.

Already got that sorted! But pay out won't be till sometime next year!

Herbsman

I'd lay off selling the parts until it's been inspected by the driver's insurance company. In fact, some insurance policies state that if you claim a new bike after a smash or theft then you agree to pass ownership of the the old bike to the insurance company*. If that's the case with your policy then no you can't sell the parts!



*This clause in the policy ensures that if you have a bike stolen and then it's subsequently found and returned to you by the police, you don't then have two bikes; the insurance company gets back some of their loss by having the bike off you. Which is fair enough I suppose.

verylonglegs

So there is nothing to stop him taking the DA off and selling it and putting something else on in it's place?

willowthewhite

verylonglegs wrote:

So there is nothing to stop him taking the DA off and selling it and putting something else on in it's place?

Wouldn't advise this, if the bike gets inspected by insurance company, they will note the different groupset and then refuse to pay out due to a fraudulently filed claim.

I would probably try and see if you can get an overdraft/increase to exciting one from your bank to tie you over until the insurance pay out.

Yossie

Agree - I was knocked off my Gixer (its a motorbike) a few years ago - Cat C write off: the insurance company paid out for the value of the bike and let me keep the bike: I immediatly stripped it and sold all the parts. Completely legit as they had given me the bike.

My advise is not to touch the bike until the assessor has been and you have received their report: they are pretty good at this sort of thing and will know in an instant if you have been messing with it - things like impact marks, directional scratches, does the damage seem correct for impact of that speed, etc, etc tend to give the game away.