Making an Insurance Claim

equinefunk

Hi,

I had my Bike stolen at the weekend, it was a Gary Fisher Roscoe, which retailed at around £2500 I think. I bought it second hand for £11000. My Home Insurance policy is new for but max value of single cycle £1250. I know that Insurance Companies will do anything not to pay out, will they offer me the price upto £1250 or will they say that as it's a cycle it's depreciated therefore worth x, or you bought it for £1100 therefore it's worth £1100.

Any advice on how to play this would be appreciated.

Thanks

chazkayak

If its only insured for £1250 you definately wont get any more for it.

If its a new for old policy they should replace the stolen item but going back to the fact its only insured for £1250 thats all you will get.

But as you say, insurance companies dont like paying out. Where was the bike stolen from, was it locked with an approved lock (have you got recieprt for it?) was it locked to an imovable object?????

equinefunk

It was at Center Parcs in Sherwood Forest, it was locked up with two locks one was an ABUS 7 minute Rated & the other was a Kryptoflex. It was attached to the lock up points & had another bike with it (which was left).

chazkayak

Any security cameras around?

At least it was locked, insurance cant dispute that. Was any part of the lock left behind?

Anonymous

Sure there's been a number of threads here or elsewhere on Center Parcs thefts. Personally I'd take a very cheap bike or rent one to ride there.

I'd also take it up with Center Parcs over their poor security as they're letting in a lot of thieves and not providing enough secure storage it seems.

They went to a fair bit of effort to get it by the sound of the locks then. Either turned up with the right kit and had it away in seconds, or just took ages and no one noticed. Either way, not good.

equinefunk

Apparently 3 other bikes were stolen on the same evening. Sod's law I parked mine in the only Bike Park without CCTV. However there were images of someone making off with the bike. They knew what they wanted they left my daughter's Spesh Hot Rock. Mine was the best bike in the park & I don't think they took anything else from there. It was parked near a lake so I guess they threw the evidence into the lake.
When the police took my statement they hinted that they knew who it was who took them but it was unlikely I'd get it back. The worst of it is I took loads of precautions 2 good locks. Well lit etc., but I had a hire bike which I could have taken instead.

I am going to write a strong email to them tomorrow regarding the theft of my bike. Then I'll have to do battle with the Insurance Company, I'm going to try the Travel Insurance I have the value of an individual item is £3k on that.