Good deal?

jonny1967
jonny1967 Posts: 28
edited September 2012 in Road general
had a Ribble Gran Fondo and Ribble Ultralite stolen on Sunday, gutted is not the word, I only picked the Fondo up on Saturday. Anyway both bikes were worth a grand total of about £2k. Today the insurance company (via Wheelies) offered a Spesh Tarmac (£1500) and a Felt 65 (£1150) as a direct replacement. Now as much as that is a great offer am I mad for refusing and asking for a cash settlement? Its just that I really wanted the Fondo, and would rather take less so I can get one, again. Really not sure what to do

Comments

  • rolf_f
    rolf_f Posts: 16,015
    jonny1967 wrote:
    had a Ribble Gran Fondo and Ribble Ultralite stolen on Sunday, gutted is not the word, I only picked the Fondo up on Saturday. Anyway both bikes were worth a grand total of about £2k. Today the insurance company (via Wheelies) offered a Spesh Tarmac (£1500) and a Felt 65 (£1150) as a direct replacement. Now as much as that is a great offer am I mad for refusing and asking for a cash settlement? Its just that I really wanted the Fondo, and would rather take less so I can get one, again. Really not sure what to do

    Tell them you want like for like. This might help - I have a Gran Fondo. I chose it principally because it fits me. Most bikes don't. Personally, I'm pretty sure that the Specialized wouldn't fit me and that's what I'd tell the insurance company. I doubt that a car insurance company would offer you a Seat if your Honda got stolen so why would they think it is suitable to offer you a bike that might not even fit you?

    Besides, purely on grounds of personal taste/prejudice, I wouldn't touch a Spesh with a bargepole! Nothing wrong with them but they aren't my sort of bike. Just tell them clearly and firmly that you are entitled to have a replacement for what you had stolen - and that isn't a Specialized or a Felt. And you don't mind a cash settlement as long as it covers what you lost.
    Faster than a tent.......
  • There is no problem with them giving me the cash to replace like for like, but they dont deal with Ribble so can't offer them, so they are the nearest to what I lost that they can offer. But the combined value of their offer is £2650 but the cash offer will be about £2000 (what I paid for the bikes)
    But I really did like the Ribbles so will have to take the cash offer I think, just wanted to know I was doing the right thing.
  • thistle_
    thistle_ Posts: 7,141
    Are they offering a cash settlement or is it vouchers you can only use at Wheelies?
  • I would say that the finacial amount would be secondary in your case. If the bikes arent what you want, and you can get the bikes you DO want for the cash settlement, then thats what is important to you.
  • siamon
    siamon Posts: 274
    Sounds like a great deal to me. Whilst I appreciate your brand loyalty, it might be worth getting a test ride on the Tarmac, they are properly good bikes! You might get a nice surprise in comparison to your Ribbles. At least you will know one way or the other.
  • siamon wrote:
    Sounds like a great deal to me. Whilst I appreciate your brand loyalty, it might be worth getting a test ride on the Tarmac, they are properly good bikes! You might get a nice surprise in comparison to your Ribbles. At least you will know one way or the other.

    ^^^WHS

    At least try the Tarmac & then make a decision. You could hate it, but you could love it. At least you'll know.
  • gabriel959
    gabriel959 Posts: 4,227
    What spec did your Grand Fondo used to have? The Elite for £1500 has got a mixture of 105/Tiagra which is pretty low spec IMO.
    x-x-x-x-x-x-x-x
    Commuting / Winter rides - Jamis Renegade Expert
    Pootling / Offroad - All-City Macho Man Disc
    Fast rides Cannondale SuperSix Ultegra
  • It is a good deal, which is why the decision is so hard. All the bikes will be more capable than I will ever be. I am baseing the decision on the looks of the bike only and thats probably a bit stupid. The spec of the Fondo was all Tiagra when bought, but I had just finished swapping all the 105 kit from the ultralite on to and tiagra onto the ultralite.
    Im now thinking that I should take the cash payment and just replace the Fondo with ultegra and other goodies and live with the one bike (the ali bike was used as a commuter/winter bike).
  • jonny1967 wrote:
    but they dont deal with Ribble

    Can't blame them for that.

    I'd deffo ask for the cash and take your time instead of being rushed into things.
  • They knock 20% off I believe if you take it as cash. Have a look around and see what you can get for £2150 as it might be better that way. I know I wish i'd have taken the cash looking back.
  • Have i read that right? You bought the bike on sat and it was nicked the next day? Oh my days!
    Winter Road - 2014 Boardman Sport
    MTB - 2012 Canyon Nerve XC 7
    Summer Road - 2012 Cannondale Supersix 105 Liquigas Colours
  • jay197
    jay197 Posts: 196
    Bustacapp wrote:
    jonny1967 wrote:
    but they dont deal with Ribble

    I'd deffo ask for the cash and take your time instead of being rushed into things.

    Excellent advise, spot on.
  • vfast1 wrote:
    Have i read that right? You bought the bike on sat and it was nicked the next day? Oh my days!

    Yep, gutted is not the word. Anyway, the insurance company say they have a cash liability limit of £1800, from which they deduct 20% (the discount they would get doing a like for like replacement) plus £250 excess, which would leave me £1200 to replace both bikes :evil:

    So, I am now forced to take the bikes offered by Wheelies. Not that bad really because I have got a Cannondale Supersix 2013 model when they arrive in the country next month, and a Felt F75, happy days :P
  • Nicked the day after you bought it?

    my suspicious mind but any possibility of a connection? Where did you buy it from?
  • Bought from Ribble Arthur, but I think they were actually going for the mountain bike that was in there until I sold it last week. But non the less, a good pay day for the scum. They took the spare tubes for the mountain bike but left the road bike tubes. Strange really