Bike stolen??House insurance.

Transactionumber

Hello everyone my bike got stolen at center parcs .I gave details to security on site and have not heard from them,but I have been contacted by police and been given incident number.I contacted insurance and told hem bike was worth £150 and was told that after the £100 excess was taken of I'd get £50 is it worth claiming this as it might put up the new quote a fair amount next year.What are your views on this matter would be greatly appreciated.

mattymoo

Are you sure they have told you the correct excess. On my contents policy I understand the standard excess is £50, reduced to £25 for bicycle claims.

Have a look at your policy schedule. The excess details will be in there.

lisyloo

My view is that it definitely is not worth claiming.
After you have made a claim your premium will go up (possibly for several years) as well as losing any "no claims" benefit.
Can't see it being worth it for £50.

Did you have it locked up?
If not then buy yourself a lock or two.
If you are going away and don't have anywhere to secure the bike then consider hiring.

Transactionumber

Was locked up!!!With centerparcs lock.Unfortunatley it is £100 excess which I knew, not to worry I'll just put it down to experiance.I have bought a cheapo bike of internet for £45 inc delivery got suspension on the front, 18 gears,26" wheels!! I cant believe how cheap that is and I wont worry to much if it gets stolen aswell.https://www.sterlinghouse.co.uk, take a look.Cheap bikes I think.

lisyloo

Was locked up!!!With centerparcs lock.

So did someone break the lock or was it unlocked i.e. theft by a Centerparcs employee.
If there is no sign of breakage then I would be making a claim against Centerparcs as clearly someone had the key.

Transactionumber

No the lock looked like it had been kicked apart.If you knew what the bike looked like and how old it was you'd of thought that it would of been safe without a lock which is the amusing thing about it!All the other bikes that were better ,and mine was the chosen one maybe they thought "O well it's not worth that much I'll take that one!"He wont be that upset!

lisyloo

OK, so when you said it was "worth" £150, did you mean this was the replacement value or the 2nd hand value.
I'm not sure but I don't think bicycles are replaced on a "new for old" basis.
I think you only get the actual value.

Some items are replaced on a "new for old" basis and others aren't.
Not entirely clear on it to be honest.

Sponge

If your claim is going to be £150, with an excess of £100, then I wouldn't claim. Simply not worth the trouble and potential future premium increases for such a small amount. Bad luck! I've had several bikes stolen over the years and it's not nice.

Transactionumber

That was the price I paid when bought 6 years ago.I think that my policy is new for old not sure but I wont be bothering the insurance company. many thanks for all the replies cheers leachy.

mattymoo

Bikes are normally new for old. Clothing and linen is the usual exception to the new for old rule.
Mind you, the prices of bikes seem to be like computers - falling all the time.

Astaroth

I am confused why you are paying to insure the bike when it isnt worth your while claiming for it?