My old Orange filing cabinet was nicked from our garage recently. We're insured for replacement value thankfully, but the insurance company are talking about giving me a replacemt bike or vouchers. I'd much rather have the cash as I already have enough bikes. Any tips as to how to get cash please? Thank you
Yup you ask but might take a hit as they get deals for using vouchers or buying direct so cash is sometimes less.
I told my insurance company that I couldn't get an equivalent bike through their preferred partner so they agreed to give me money instead. You could try that tactic, but it might be a little harder since the bike you've had stolen is still sold.
+ what Drac said
was the filing cabinet a custom build/spec?
if so you could argue that there is no like for like replacement available due to the custom nature of the cabinet.
and mention the following:
"Further, given that the bicycle in question was of bespoke specification I request that you send me a bank transfer/cheque for this amount (less any excess applicable) so that I may replace it like for like. This would not be possible by your issuing of vouchers to be used at Wheelies. Bear in mind the principle of indemnity and I very much want to be put back in the position I was before the loss occurred."
i also threatened them with the Ombudsman
"If you do not agree that I should be indemnified by way of bank transfer/cheque instead of vouchers could you please put your reasons in writing and provide me with a copy of the recording of the telephone call made when purchasing the policy or a verified written transcript thereof so that I can submit this to the Financial Ombudsman Service as I will be raising the matter with them if you do not resolve this matter to my satisfaction."
they took a few more weeks to sort it out...but they paid me up in cash
Wow! Was that necessary Gonzy? Wheelies were extremely helpful with me and I didn't have to go to those lengths to get my money.
I just told my insurance company that I wasn't prepared to deal with a shop a long distance away, I'd purchased the bike originally from a lbs, and that's where I wanted my replacement from.
After a little too and froing they agreed and sent me a cheque minus my excess.
Wow! Was that necessary Gonzy? Wheelies were extremely helpful with me and I didn't have to go to those lengths to get my money.
Certainly wasn't for me.
"We can offer you this bike?"
"No thanks"
"We can offer you vouchers"
"No thanks"
"Ok we'll sort a cheque out for you. "
Do avoid buying new bike from Wheelies if at all possible.
Warranty service is like pulling teeth.
Drac - Moderator
Wow! Was that necessary Gonzy? Wheelies were extremely helpful with me and I didn't have to go to those lengths to get my money.
Certainly wasn't for me."We can offer you this bike?"
"No thanks"
"We can offer you vouchers"
"No thanks"
"Ok we'll sort a cheque out for you. "
Similar experience as Drac for me. Although I provided a build spec quote as requested, which the bike shop did for me without question knowing they'd be getting the repeat business
"We can offer you this bike?""No thanks"
"We can offer you vouchers"
"No thanks"
"Ok we'll sort a cheque out for you. "
Was the cheque for the same value of the bike that was lost? Or were the vouchers the same value, and the cheque less?
When you car is stolen, they don`t offer you vouchers, or a replacement (okay a couple of insurers might... ) so why should you have to accept that for a bike?
Was the cheque for the same value of the bike that was lost? Or were the vouchers the same value, and the cheque less?
I think a little less as they can't get the discount but I can't recall as was ages ago.
Thank you all for your help. Some great tactics there is the phone to them now...
I got cash for a custom built mtb as they could not source a similar replacement from Wheelies or whoever they would use by default. They paid out as per my shopping list spec from CRC.
Wow! Was that necessary Gonzy?
unfortunately it was.
bike was insured for £3k as a single unspecified high value item. spare frame was also stolen from the shed at the same time. i was told at the time that the policy covered me anywhere on the property.
when c
it came to claiming they told me the shed only had a max £2k cover as an outbuilding.
bike was actually valued at £3.5k but i was prepared to take that £500 hit so my premium didnt go up.
a lot of arguing my case with the insurer eventually led me to the services of fellow STW user DannybGoode who looked at the policy ofr me and pulled together a letter of complaint which i sent to them. a couple of weeks later they listened to a 3 year old insurance sale call and admitted that i had been mis-sold my insurance...they admitted liability and paid out the £3k for the bike and a further £600 for the other frame and compensation.
When my son's bike was stolen from his Uni house it just took one call to LV with the crime number and the cheque arrived two days later. No mention of vouchers or anything else 😀
Update: Aviva immediately offered to pay cash - no mention of vouchers or replacement bikes. No need to prove ownership either. Credit where it's due... thanks stwers for your help