Advice required Please

gyblue

Good evening all
I am looking for some advice please, I was involved in an RTC in May 2018 with a taxi and unfortunately as a result of the collision my road bike has been written off as it is beyond repair.

The case is with solicitors and the driver's insurance company has offered me £200 as a settlement figure based on the second-hand value at the time of the collision as apparently, they are not obliged to offer a replacement value.

My issue is that when I purchased the bike it had been rebuilt to a higher specification than the original factory build. The insurance company are saying that the upgraded components do not add value to the bike (they have based their valuation on an ebay listing for the same factory spec bike but without pedals!!!) and cannot be considered.

I need to explain why they need to take into consideration the value of the upgraded equipment and how they are designed to improve the performance of the bike (rider excluded obviously ) but I do not know how to word it in a way that the insurers will understand.

Any help would be gratefully received because as it stands I would be in a worse position than before the accident which does not seem right to me.
Many thanks
Andrew

cougie

Just£200 ? What about your kit and any injuries you may have suffered ?

cycleclinic

Write a letter in reply stating a full breakdown of what it will cost to replace what you had. Explain you expect to be compensated in full. That is there obligation as the insurer.

shiznit76

Take it you're not a member of BC?

First.Aspect

This is nonsense. You are just getting pushed around because you are being passive.

Get yourself some representation, but even then you'll need to be quite bullish because most solicitors operate like bots.

You need to get a repair estimate from a bike shop as well.

cougie

These people have done great work for friend of mine

https://www.bikeline.co.uk/content/about-us

Tyresome

And don’t forget the whiplash injury you suffered.

Dorset_Boy

If it wasn't your fault then the other insurer is obliged to pay the full replacement value. Their lawyers are just trying to screw you over. So if the bike was a write off then new bike of comparable spec to the bike (with its upgrades) plus any damage to kit you were wearing and any physio or other medical costs, loss of earning etc. Then add interest due to this having happened nearly a year ago.

imposter2.0

Tyresome wrote:

And don’t forget the whiplash injury you suffered.

The OP made no mention of whiplash - or are you suggesting he should make a fraudulent claim?

cougie

Maybe the OP has memory loss too ?

Wayne Plunger

cougie wrote:

These people have done great work for friend of mine

https://www.bikeline.co.uk/content/about-us

Are they a no win no fee outfit Cougie, recently wiped out in Ellesmere Port so not far away, currently waiting for my "legal expenses through my home insurance" to come back to me but they don't appear to in any urgency.

gyblue

thecycleclinic wrote:

Write a letter in reply stating a full breakdown of what it will cost to replace what you had. Explain you expect to be compensated in full. That is there obligation as the insurer.

Thanks for your reply, I have provided a full breakdown on the specifications of the components and their replacement value but apparently, I will not get the replacement value as the law stands, which sucks!! I need to write and demonstrate how the upgrades are used to improve the performance of the bike and therefore increase it's value and were not added just to make it look good but I am not sure how to explain that

cycleclinic

Insurance should put you back to were you were. If the bike cannot not be readily bought second hand say this. Simply state the cost of of replacing the bike you had. Stand firm they are trying to pay less because this is a negociation.

You dont have to justify anything only the cost of replacing the damaged bike. Make each letter and communicate by letter only more determined than the last. Letters have a way of getting through that a phone conversation does not.

cougie

Wayne Plunger wrote:

cougie wrote:

These people have done great work for friend of mine

https://www.bikeline.co.uk/content/about-us

Are they a no win no fee outfit Cougie, recently wiped out in Ellesmere Port so not far away, currently waiting for my "legal expenses through my home insurance" to come back to me but they don't appear to in any urgency.

As I understand it the drivers Insurance pays for it. Two pals have been very pleased with their performance and their owner is a keen club cyclist with the Sunlight. Or was a few years ago anyway.

redvee

cougie wrote:

As I understand it the drivers Insurance pays for it. Two pals have been very pleased with their performance and their owner is a keen club cyclist with the Sunlight. Or was a few years ago anyway.

That was my case too though it didn't get to court though a court date was set, the driver's insurance comapny eventually made an acceptable offer. Bikeline were the people I went to when I needed a solicitor after a car pulled out on me over 15 years ago, it took nearly a year from accident to payout so don't expect a quick solution though you might get an interim payment for the bike then a later one for any injuries as they are what hold up payouts cause the injuries could have long term affects on you.

monkimark

As someone mentioned above, I believe that the basic rule is that you should back in the same place as you were before the accident.

If the bike they send is not an equivalent spec, just state as much in your next letter - would they expect a car driver to justify the performance increase of their car's trim package?

If they give you an example of a lower spec bike without pedals then add on the cost of buying the new components and getting a bike shop to fit them. If you can't find an exact replacement, perhaps a different bike with similar spec would be a suitable yardstick.
If they're expecting you to buy second hand then a lbs service may be required to make sure it's running as well as your old bike was.

And of course add on any damaged kit, clothes, helmet etc.

andyh01

The basic premise of Third party insurer responsibility is to put the innocent victim of road traffic accident back into the same financial position they enjoyed immediately prior to the accident.

Simply state you are not satisfied with their offer, if you know the monetary value you want state it as a counter offer else you'll say your legal representation will take legal action through the courts.

Make sure as others said to include any personal injury - usually the most expensive part of the claim- personal effects clothes, accessories etc and out of pocket expenses such as alt travel costs whilst bike sorted etc end of day if car damage you'd be in a hire car which the to insurer will be paying. Any trips to specialists loss of earnings if time off from work... Soon adds up

I got T boned and ended up with a six figure payout most was injury and out of pocket expenses and as others said I had argue with my own legal representation about what I could and couldn't claim - the to insurer wouldn't allow me to represent myself n took nearly 2 years to resolve

The insurers have accepted liability ie its their insured fault