Getting a fair valuation for a written off Strom

[Petstep]

Hi all

After my spill on Wednesday, the insurers are already talking of writing the bike off and paying me it's value before even seeing it.

I don't have a huge amount of confidence their valuation will be fair. What's the best way of getting an objective valuation?

Cheers!

[Birbal]

I was in a similar situation a while a go with a different bike. The insurer (I think I was with AVIVA at that time) sent these blokes to create a damage report: https://www.laird-assessors.com/services/business/motor-vehicle-reports/ . As far as I know every insurer contracts a third party company to create an objective evaluation (not sure if they have to).

[Hugo Magnus]

Presumably the insurers will make you an offer, they would not be doing their shareholders any favours by offering a reasonable price to start with, you will need to haggle you don't have to accept their offer.
 If you were happy with the bike why not offer to buy it off them (at their first offer price)? There can't be that much wrong with it after a little off.

[Timmo]

Service receipts even if you did it yourself, every penny you have spent on it to show how well looked after it was. A full service history is a value itself.

[Birbal]

 Forgot to mention that I had an old bandit at that time. I got it for £1200, the company evaluated at £1600 and the insurance offered me 1450. Then I sold it for part's for another 600. So I paid 1200 and got in return £2000 in total...not bad. The difference was that it wasn't my fault and the other party insurance admitted liability as I had few witnesses. So is not always bad. My insurance never went up after that incident.

[Robotstar5]

If you think it's worth repairing, offer to buy it back. We had a car with just plastic bodywork damage written off due to it's age, £1300 write off value less £300 to buy it back, then I spent just under £300 in parts so we made a "profit" of £700 

[Petstep]

Thanks for replies to my previous post, but I'm still none the wiser as to what would be a reasonable write-off payment from my insurer following my off a couple of weeks ago.

Any suggestions as to what would be sensible for a white 2012 Glee with adventure pack (top box, crash bars, Vario screen,  and plastic "sump guard") with 37,000 miles?

Very good condition, FSH and new MOT, recently replaced chain and sprockets, new wheel bearings front and rear, heated grips, detachable Givi pannier rails.

I've looked at MCN and Autotrader, and clean 2012 Glee's start at about £4,000, but the ones there only have about 8-10,000 miles.

Would really appreciate help so I don't get ripped off by insurer, but also so that I'm not unreasonable and unrealistic.

Thanks blokes.

[Ian T]

Hope this helps, my experience of insurance payouts, and I have had a few over the years both car and bike, is it is not what it is worth, it is what they are prepared to pay you.

A wise old man told me years ago and I think it still holds true, is refuse the first offer, wait for the second then put a case with some supporting docs I.e. Print out of comparable bikes, not for sale but which have sold. People nearly always think their pride and joy is worth more but never get the price, there is always a bracket price.

Accept the third offfer, don't push it past that. Always worked for me and always got the two increases in offer.

Always consider the buy back option, that is of course unless it disappeared with some scrotums bad aftershave and body odour.

Like I said rather than look for a price look for increasing their offers.

Cheers

Ian

[Petstep]

Thanks Ian. Helpful practical advice

[Moo]

Id be interested to know what they ask for the buy back price.. Might be worth saving it from the scrap heap