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We've got our house contents insurance through M&S and I still haven't put my bike down as a named item (we've got 6 between us but I reckon only one is worth over 2k). What do people reccomend in terms of valuation? I've got reciepts for pretty much every component on the expensive bike (not fussed about insuring building costs), there's a few second hand bits on it though. I'm tempted to just get them all down to the LBS and get them valued or will I be ok just totting up reciepts?
What should I be doing?
- current RRP?
- RRP at time of purchase
- price paid
How significantly is it going to impact my premium? Wife is keen to stay with M&S for other policy benefits (have sugested switch to her)
I'd look at it the other way, if some ****er stole it, what would you need to replace it?
New for old. How much to replace if lost.
I guessing I'm coming more from the 'what will they honour' POV. Don't want to put a value in then get told I can't claim cos I don't have adequate proof or they differ on the total worth.
What I have done is take detailed pictures and list the components. When I had a bike stolen the claim went to wheelies who offered me a bike they said was similar. after a bit of too and fro I got a new bike I was happy with
they told me (MnS) standard house cover for any bike is £1000 @ home. To insure a specific bike you need to name it, manufacturer, model, custom build etc and tell them how much it would cost to replace it. I have 4 bikes but only one is named on my insurance for £4000 @ home and away. I think the premium you'll pay is dependant on the area you live, postcode n stuff.
call them and they'll tell you over the phone how much it'll be
How much to replace new at RRP. Doesn't have to be exact, generally wheelies will give a valuation after a theft anyway, so whether you under or over estimate it, it won't make much difference. So long as you don't take the mick completely