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Hi chaps,
Does anyone know what would happen if I had M&S insurance, and one of my bikes was worth over £4k, which got stolen.
Would M&S pay up to £4k, or declare the insurance void as it's worth more than £4k, due to the additional liability?
Interested to know the answer if anyone has experience, or has asked the same question. I did speak to M&S about this, but I don't think I made myself clear enough on what I wanted to know.
Cheers for the help
Ricks
I think you'll find that when you double check, that bike was only worth £3995 wasn't it.
If it wasn't, you'd have declared it as a separate item.
I asked them over my Enduro, was told that it would be void and had to pay the increase in premium to get it covered. Its a whopping amount extra.
Interesting - I had two claims, both of which had an amount over the £4k - not much, but an amount, and they didn't say anything at the time....
Hmmm....
No used bike is worth more than £4K
Why did you ask if you already found out for yourself?
I'm confused.
are your claims still in progress?
Its not for a claim, but for insuring bikes in the future. I know used the bike wouldn't be worth 4k, but insurance replaces bikes old for new, so the sum total is usually a lot more than actual worth.
I have insurance with m&s. my policy is that bikes up to £3k are insured at home and away from home if locked up. over £3k only insured at home from theft.
This is all part of Home + Contents.
Asked that very question of M&S couple of days ago. I was told that the bike would be insured, but that the max pay out would be limited to 4k.
GW - heard of "new for old"?
OP - it'll be in the policy, I think the default is that any claim is pro-rated, but RM for instance will pay out zero.
What tlr says is what happened in my case, capped at £4k.
Don't really want to go into it any more than that here, but feel free to email me if you are still concerned.
Glad someone asked this, I went with Co-op insurance but put down £2500 for the cove I have got, as that was what I paid for it 2nd hand.
Have now switched to Green Insurance with the full £4000 (cost to replace) covered and it was about £60 cheaper.
Cheers
Graham
Hmm green insurance seems quite cheap. Not a single insurer on moneysupermarket would touch me for some reason?!