Am i being taken for a ride by motorbike insurance?

Question

my insurance say they will only pay market value and not the the value on the policy and the accident was`nt my fault .can i get the offer increased????

Answer 1

unfortunately insurer's can only pay market value regardless of whats on the policy .Lets say you have a car that's worth  ÃƒÂ‚£($) 5000 retail price and you put down say £$6000 on your policy when the insurer looks up the price in trade pricing guide (CAP) and value your care at £$5000 there not going to pay £$1000 over its retail value -would you?.

Answer 2

tell them you want them to replace your bike with the same year make model and condition and milage , and this cannot be done with their offer and let them find a bike for you...

Answer 3

Insurance is designed to make you whole, not give you a profit.

If you're driving something with a fair market value of $6,000, and someone wrecks it, why would you deserve $10,000?

The 'value' on a policy is the maximum the insurance will pay out, not what they are going to give you for your loss.

Answer 4

No, not so long back some idiot used my car for target practice and I only got back half of what was listed on my policy. If you check the policy wording it says (in very small letters) they will only pay the market value for the vehicle.

Sorry chap!!!

Answer 5

My husband got his motorbike nicked and it was locked and chained.

Bennetts didn't want to know, they said it could'nt have been locked up.

Yes it was, Name and Shame time. Bennetts.

Yes they are taking you for a ride, they just want your money.!!