Anyone claimed a new bike on insurance?

garnett

I'm paranoid about having to make a claim. I picked up my bike 6 years ago, half price as it was the previous year's model. I love it to peices and would be gutted if anything happened to it.

Moreover, though, I'm worried what the insurance company would say - my mate paid for both, and I gave him the cash, so no receipt or proof of purchase (I doubt very much he's kept anything), and a comparative bike now is still twice what I paid 5 years ago (for similar frame/fork/component set -albeit with an extra cog on the cassette).

I'd hate to have to make do with what I could buy for the price I paid back in 2005, or worse, that figure adjusted for wear and tear.

What experiences have others had?

Pigtail

Never claimed - but evidence is important for insurance companies.

Did you register the purchase/ frame number with the manufacturer for warranty?

Have you decent photos showing model / components as evidence?

James

garnett

Hmmmm. Very good questions. Very good. I'll get back to you on Monday with the answers after a weekend spent taking pictures and rummaging through the junk cupboard (sure the paperwork's in there somewhere!)

ga02clr

It is entirely dependent on the insurer and the nature of your policy. If you have a new for old policy you should be absolutely fine. They may require photographic evidence of the bike but it really does depend who you insure with.
I damaged a bike in transit and insured with Hiscox. There service was fantastic. I had to provide the name and model of the bike to them and the age and obviously how it was damaged as well as original price. I received a call from there cycle team who I confirmed the name and model to as well as age, they agreed with the original rrp and how much a similar (ultegra) spec same brand bike would be now. I received a cheque to replace the bike the next week.
Did not ask to see the damage frame or letter from bike shop signing it off as broken both of which I could have happily supplied.
This is all on a Hiscox house policy where they cover bikes up to any value in the house (as long as it does not exceed your total policy limit or any one item) and up to £1,000 out of the house.

Redhog14

My GF had her bike nicked off the roof of her car in Liverpool... Anyway her insurance company offered to replace it, only it is not made anymore and they insisted she went through a specified internet supplier. As this shop did not sell any of the bikes she wanted they said she could have the cash less 20%, after much arguing with them they finally coughed up in cash for the full amount. Advice is; check the detail and phone and ask, if you don't like the answers you get change insurer. She bought her original bike from Merlin 5 years ago and they were able to reproduce her reciept.

garnett

Thanks - sounds like it pays to pick a decent insurer (though how easy to tell whether they're decent from the outset might prove tricky) WIll check our cover, and possibly google for some horror stories (bah, what a cynic - I mean glowing customer praise).