- Recovered Bike and Insurance Dilemma
it is not proposed fraud as the op asked “legally, do I need to…”
also, if they are only paying out for £2500 worth of contents, maybe the list that makes up that value does not include the bike…
I agree best course of action is to ring the insurers, but disagree that doing otherwise necessarily constitutes fraud.Posted 4 years agothisisnotaspoonMember
What mickolas said, was there £2.5k of unrecovered stuff?
And odds are they won’t want the bike, what an insurance company going to do with damaged 2nd hand bike? Even if they split it to parts and go the work experience tea boy to list everything on ebay it’d probably cost them more than they’d get for it. And that’s before someone sues them for it breaking.
Tell them so you’re 100% above board.Posted 4 years agoMonster101Subscriber
Thanks to Strathclyde Police and my mate who is an inspector, he spotted my stolen lapierre zesty been ridden by a junky scrote 4months after it was stolen and managed to get some sterling police work done spotting the guy again and arresting him tonight. Only o.5miles from my house
Just been and id’d the bike and now got it back. A couple of dings but all parts okay….. Now the strange bit. Thief denied the crime and bought it from a car boot sale near Lanark for £80 despite being a junkie and not driving. As the police lifted him from the street with the bike the Proc Fiscal are not authorising a search warrant. Guy is getting bailed now and will probably be getting rid of all the other stuff over the next day or two! Aaarrrghh
Now the insurance with Aviva, had £4.5k of stuff stolen but insurance co would only pay out £2,500 due to unsecured outbuilding clause. Legally, do I need to let them know it has been recovered? Frame has been damaged with a small ding on the tt and paintwork is scratched in a couple of places. Could split the bike for parts or sell a full bike.
Unlikely to recover anything else at this stage.
What do the collective think? It is a 2011 zesty 514
AlanPosted 4 years agofazziniMember
Tell your insurer. They paid out on a claim , whether a proportion or not, and therefore the bike is not ‘yours’. I work for an insurer and we have always told the customer to keep the recovered bike and do with as they wish – as earlier posts have said there is no value in an insurer taking back the bike they will not recover any of their costs.Posted 4 years agoDT78Member
Phone the insurers. When I was in the same situation some time ago I was told to ‘dispose’ of the bike by the insurers.
I held on for it in the loft for another couple of years just in case they changed their minds and then sold it on cheaply, basically covered the excess I,d lost.Posted 4 years ago
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