Bike stolen....what next?

[pip t]

Well it finally happened. Came home from work a week ago to find a bike sized space where it should have been and a smashed disk lock lying in the road :-(

After much swearing, reported to the police and insurance, and set a claim in motion.

My (Slightly ignorant and naive) question is, can I buy and insure another bike while that claim is in progress? It's transport as well as a toy, and it's about to become very inconvenient to be bike-less. Can I just push ahead and buy another, or will that be problematic while it's still being sorted out?

Edited by pip t on Thursday 31st May 01:18

[dibblecorse]

You can except before you do you need to check what your insurers waiting time is before they declare it a total loss as there is a danger that the bike gets recovered and you don't get the payout you're potentially banking on.

[Wacky Racer]

dibblecorse said:

You can except before you do you need to check what your insurers waiting time is before they declare it a total loss as there is a danger that the bike gets recovered and you don't get the payout you're potentially banking on.

This. Be careful, you may find yourself with two bikes.

Wait until the insurance company give you WRITTEN go ahead.

[pip t]

Thanks chaps - yes, we're now approaching the end of their waiting period - it was more a question of whether I had to wait for it to be completely done with.
I very much doubt I would be able to be signed and sealed on another bike before then anyway, I just didn't know whether there was any kind of 'Thou shalt not' to be wary of.
I've been fortunate enough that I've never had a vehicle stolen before, so I'm a bit unfamiliar with it all!

[Lee540]

When mine was stolen I just had to have another bike insured within 1 month after payout to keep the policy running..

I didn't question buying before.. I still held out some hope of Metropolitan Police finding it..

[Gavia]

What waiting period?

[pip t]

Lee540 - Given the apparent distinct lack of any kind of interest from South Yorks Police on this one, I'm not holding out much hope of it being recovered......!

Gavia - 14 days from the theft with this company.

[Gavia]

That’s crap. Which broker?

[pip t]

Not a broker - the big one with three letter initials.

Apart from having to wait to see if it's recovered (Which I assumed was standard practice?) they've actually been remarkably helpful and efficient so far, despite their reputation...

[Gavia]

pip t said:

Not a broker - the big one with three letter initials.

Apart from having to wait to see if it's recovered (Which I assumed was standard practice?) they've actually been remarkably helpful and efficient so far, despite their reputation...

Nowhere in their policy booklet stating you have to wait 14 days

https://www.mceinsurance.com/PolicyDocs/MC_Alpha_P...

[CAPP0]

Wacky Racer said:

dibblecorse said:

You can except before you do you need to check what your insurers waiting time is before they declare it a total loss as there is a danger that the bike gets recovered and you don't get the payout you're potentially banking on.

This. Be careful Go for it, if you're lucky you may find yourself with two bikes.

[Maxheadroom]

enjoy the insurance hike for being so careless as to have your bike stolen.
yes i had protected no claims, yes i got royally stiffed on new bike.

If you are really lucky the insurance company will send a private investigator round as "usual" procedure.
bitter rant over...

sorry to hear you had it stolen

[Gavia]

Maxheadroom said:

enjoy the insurance hike for being so careless as to have your bike stolen.
yes i had protected no claims, yes i got royally stiffed on new bike.

If you are really lucky the insurance company will send a private investigator round as "usual" procedure.
bitter rant over...

sorry to hear you had it stolen

You don’t think he’s a higher risk for having his bike stolen from outside his house?

[pip t]

Gavia said:

Maxheadroom said:

enjoy the insurance hike for being so careless as to have your bike stolen.
yes i had protected no claims, yes i got royally stiffed on new bike.

If you are really lucky the insurance company will send a private investigator round as "usual" procedure.
bitter rant over...

sorry to hear you had it stolen

You don’t think he’s a higher risk for having his bike stolen from outside his house?

That's an interesting point actually - I'm expecting to be a little stiffed come trying to insure a new bike; but it wasn't actually stolen from outside my house, it was stolen from outside the accommodation I was staying in at the time. Does that make any difference? (So no theft from my home/registered address?)

[Gavia]

pip t said:

That's an interesting point actually - I'm expecting to be a little stiffed come trying to insure a new bike; but it wasn't actually stolen from outside my house, it was stolen from outside the accommodation I was staying in at the time. Does that make any difference? (So no theft from my home/registered address?)

You’re still an increased risk compared to your neighbour who hasn’t had his car / bike stolen. If we claim, then we are a greater risk by statistical definition. My car was stolen earlier this year and I’m sadly suffering for that on my premiums now. It’s the way insurance works, it’s based on aggregation of stats, not individual circumstances. If you wan tindividual insurance, it’s available via Lloyd’s of London, albeit the premium will be north of £5000 to cover the costs in setting it up.

[pip t]

So to update this slightly - still waiting on an offer on a payout for the claim (should happen within the next week).

More concerningly, I appear to have become completely uninsurable on anything with two wheels.... Tried getting a few speculative quotes on possible replacements (nothing outlandish, fairly middle range bikes) and no company I’ve tried will cover me. Not outrageous premiums, just flat out won’t quote.

I appear to have an uninsurable combination of ‘high risk job,’ no garage, living vaguely close to London, and a total loss theft claim.

Bugger.