Stolen BMC

cmh15

Long story short....

My pride and joy a BMC road machine was stolen back in August. After a tustle with the insurers I have had to accept a £1900 voucher for an online retailer.

The problem is they don’t stock the BMC brand, I chose the bike for its unique looks (it also fit me incredibly well).

If anyone has any plans to purchase a new bike from Wheelies we could do a cash deal.....

rokt

I was in this very position earlier this year and after “doing battle” with my ex insurance company, I also had to accept a voucher only redeemable at Wheelies. I honestly wouldn’t buy a toffee apple from these jokers.

cooldad

That's nonsense.

If your BMW/whatever was stolen, and they agreed to replace (they wouldn't, they'd pay cash, but as an example), would you accept a voucher to a Kia dealer?

They only use Wheelies as the actual price to them is a hell of a lot lower then the advertised price.

If they agree to replace it must put you in the position you were in before the loss. If it doesn't, they haven't done their bit.

rokt

Cooldad, you’re exactly right but try explaining that to Lloyd’s Bank Insurance. After weeks of battling with them we got absolutely nowhere, needless to say we’re not with them anymore.

cougie

Take it to the insurance ombudsman ?

https://www.financial-ombudsman.org.uk/ ... s.html#cs1

cooldad

This ^^^^^^^^^^^^

But without reading the specific wording.....

rokt

Haha, have you ever had any dealings with Financial Ombudsman. We did a number of years ago regarding a endowment mortgage. To be honest I’d rather push pins in my eyes than have any thing to do with these people, but that’s another story I hope to one day forget.

big_harv

Insurance Companies use vouchers in settlement over plain cash because of the risk of fraud. Sorry fella, that's how they operate. Following on from that, obviously they have their preferred suppliers. Keeps costs down, in theory keeps premiums down... Naturally they're not up on the finer points of high end bike brands.

Not that I fly a flag for Insurance Companies but in my case they pay the bills :oops:

pippi_langsamer-2

Aviva tried to push my claim thru Wheelies. Told them I'd rather have the cash, thanks and they never quibbled once. I'd push a bit harder maybe?

big_harv

My advice is check your policy. People tend not to unfortunately.

cooldad

Things have changed a lot over the past few years. Things are really on the side of the policyholder.

But as i say, really depends on the actual wording.

If you have a copy I'm happy to read it.

PaulLCFC

Back in the 80's I had my fishing kit knicked £3500approx. Police happy insurance company send out a so called independent assessor. After five minutes of answering all his questions he called me a liar and said he would have to consider informing the police.

I got up walk to him picked up his briefcase and launched it out my front door. On my way shouting if your still sat down when I get back I'm doing the same to you.

He wasn't sat down. While he chased his papers up and down the street I talked to my insurance company pointing out I was taking legal advice 5 mins later they agreed to pay my lts 3500.

As he was still picking his papers up I informed him of my good news as I got in my car to go spend my money.

Up shot insurance companies are bigger crooks than the robbing cvnt that kicked your bike. Tell them to send a cheque to your lbs or shop you want to purchase from. Don't settle for something your not happy with.

big_harv

This is why I hate consumer insurance.

fenix

PaulLCFC wrote:

Back in the 80's I had my fishing kit knicked £3500approx.

And I thought bike kit was expensive !

big_harv

All the more reason to keep receipts and photos (pretty easy these days). And read the terms and conditions before you confirm coverage. Insurance Companies are obliged to explain to you the main points of the policy.

craigus89

What type of insurance was this? Bike specific or contents?