Used bike valuations for insurance company

[MikeA3]

Hoping the BB collective can assist me here.

Is there a Parker’s valuation equivalent for used bike prices? They used to have one online but I’ve been unable to find it.

My SV’s been written off following a low speed crash (that’s another thread in its own right) and after six weeks the insurance company have come back to me with a valuation of just over £1500 despite the bike being insured at £2500 fully comp.

There stating this is based on glasses and CAP values (which I can’t access) and whilst I appreciate that SV’s aren’t worth that much £1500 does seem far too low based on comparable bikes I’ve seen advertised elsewhere and eBay auction prices etc. I’m putting together as many examples as I can find for them but wondered if there’s a online valuation available anywhere I can also reference.

Any help would be welcome

Mike

[Rubin215]

Bear in mind that the value of a bike is not what it is advertised for, but what someone actually pays.

Best guide is completed items on Ebay.

[jonindorset]

Think you should push to get enough money to put yourself back in the same situation. This should not depend upon demon haggling skills, nor scraping the barrel with the cheapest auctioned bike on ebay in unknown condition at the far end of the country. Gather evidence of adverts for the most comparable bikes and push for that amount of money.

[Deranged Granny]

Unless it's an agreed value policy, the 'insured value' is pretty much irrelevant unfortunately. The Insurer will pay the cost of your loss, and your loss is the market value of the bike immediately prior to the crash. Get together a bundle of adverts of comparable bikes and push back at their initial valuation.

[Jakey123]

Rubin215 said:

Bear in mind that the value of a bike is not what it is advertised for, but what someone actually pays.

Best guide is completed items on Ebay.

Nearly everything I've seen finish on eBay auctions as 'sold' goes for lower than what I find I could get in a sale off a forum/gumtree/classified ads which don't show as sold a lot.

Worth keeping in mind.

[MikeA3]

Thanks for the advice all, just spoken to the insurers again and will be sending them as many adverts / ended auction prices as I can lay my hands on to justify a better price closer to the insured value.

They’re also going to review their offer so it seems they know they’re taking the pi$$.

[LuS1fer]

Difficult market and difficult sector of the market.
I just agreed to sell my '16 SV650S to an internet buyer after dropping a £1000 off the price and still getting zero response.

[vtr1000f]

I had a short battle following my '67 plate 1200GS recently being written off. The assessor said £10,700 tops from bikes being advertised on Biketrader, I thought it was too low.

Did my own research and there were none from an authorised dealer, complete with the warranty for less than £11.5k with a comparable mileage etc. I wrote to the insurers with links to all the bikes on Biketrader that closely matched mine and they came back with a revised offer of £12k, which was more than I'd paid for the bike 5 months earlier.

Do your homework and present a coherent argument why you should get more - remember they are to put back in the same position as you were prior to the loss - not to argue over the trade price of a bike...