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Afternoon all
I am after a bit of advice on insurance really.
I have just built up a new bike so that the 2 bikes I now own are worth new more than my poilicy covers for outbuildings. Neither of the bikes have cost me personally what it would in the shops as only a few parts have been purchased new so my question is do I need to insure for the value it costs to replace new in a shop or if I can get this part from stw and another from ebay?
If it is the first option who do most people use?
Thanks
You will need to prove the value to the insurance company in a claim.
Cover it for full retail price.
Take a few pictures as proof of ownership and spec.
Get friendly local bike shop to supply a quote
You get a new bike.
Depends on the insurance.
New for old would (for example) buy you a new sumpjumper if your 90's FSR was stollen.
Other offer cash for anything over a certain age (usualy 2-3 years) based on it's market value, which would be the secondhand value of the bike (suppose it's easy with TV's where there's 101 on ebay, harder with bikes). Same as car insurance, you don't crash a banger fiesta and get a new '12 model, although most (IME) have a clause for it being under 6 months they'll pay out whatever you paid (bit like the two or three year clause in most home insurance policies) .