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Jan 13

Posts: 8

jackpage15 says:

Write off valuation

Hi there everyone.

I've recently had an accident where I was knocked off my 2011 z750r by a car coming off a side road onto a main road. He had edged out to force thetraffic on my side of the road to stop, while waiting for traffic on the far side to the the same. I was filtering as the traffic had stopped and as I was drving past he pulled out and hit me.

The 3rd party's insurers have accepted responsiblity and are looking to give me my intitial payout to replace my bike as it was written off. Initially I was offered £4300 as this is what the Glass guide suggests, however in the real world most 2011 models of my bike are selling for £5500.

I got back to BLD who are dealing with my claim for me and they asked for examples of bikes similar to my own and they would renegotiate with the 3rd party insurer on price. I did this and provided them with 3 examples (there are many more) of similar bikes to mine witht he prices.

BLD have contacted me today and relayed this message:
"Our engineer has advised they can increase the value to £4387.50 which is the mid point between glass guide value of £4300 and CAPS guide of £4475.

Our engineer noted the examples provided by your client were not NBF model specific"

I have got back to BLD explaining that is not going to be enough money to buy a replacement bike "like for like".  I am just wondering where I stand with this as I was in an accident that wasn't my fault, my bike has been written off and I need that money to replace it.

I have seen one example of a 2011 model for £5000 but every ohther example is around the £5500 mark and I want to receive what the bike is worth.

Sorry for the very long post, but I thought it might be best to give a clear picture of what has happened.

Thanks in advance to anyone who replies.


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  • Posted 2 years ago (25 January 2013 13:06)

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Aug 09

Posts: 233

flatspots says:



My understanding is that you will never get the retail price to replace your bike (always excludes retailers profit/premium). It's not right as you say because how can you possibly replace like for like.

I had a Gixer 750 written off three weeks after buying it (cost £3.300) they gave best and final offer of £2,800. I was injured and my gear all damaged so the overall payout covered my losses.

Hope someone else can give you a more promising opinion.     

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Nov 07

Posts: 2454

smidget says:


ACIC Mcn' legal eagle you can contact using www.bikelawyer

They will give you good advice, I've used them and have nothing but praise for them.

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Aug 09

Posts: 2726

MarcusMarsh says:

Write-off payout

In the event that your machine is written off, the underwriter usually offers the trade value (ie the value you would be offered by a dealer if you were trading the bike in) not the retail value - which is what it will cost you to actually replace your bike.  If you feel that you have not been treated fairly by the underwriter you can appeal via their own complaints procedure and also to the Insurance Ombudsman is that fails.      

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Jan 13

Posts: 8

jackpage15 says:

Not satisfied with 3rd party insurer

Thanks for the rapid responses!

I am aware that the insurers will always offer you the lowest sum they can to avoid paying you more than they have to, but I am in no hurry to settle as I have a hire bike that the 3rd party insurer is paying for.

Dont get me wrong I dont particularly want it to drag on for ages, but I've been told by a few friends who have been in similar situations that they have got more after they have turned down the initial offer.

The way I see it is that I have been in an accident that wasnt my fault. I bought my bike new from a dealer just over a year ago for the peace of mind of having that the warranty in place. I was quite happy with my bike, there were no problems with it, why should I have to buy a cheaper bike because of their client's mistake?

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