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  • Reducing Bike Value On Insurance Policy
  • curiousyellow
    Free Member

    Has anyone tried this, and does it result in getting any money back on an existing policy?

    My terms require me to disclose any bikes over £2500. I declared one bike, but I don’t feel it’s worth that anymore. Is there a formal process to reduce the value of a bike on your insurance policy, or do insurers consider bikes as items that don’t depreciate over time? My policy is new for old as well.

    Thanks for any advice!

    scotroutes
    Full Member

    If it’s “new for old” then the current worth is irrelevant.

    dang100
    Free Member

    @scotroutes – it could affect the risk profile. e.g. a bike worth more than 2,5k is more likely to get nicked

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