Check your policy. If you've been paying the premiums for "Full Replacement" then thats what you're entitled to.
Nikki, my girlfriend whose bike was stolen a few weeks ago, finally got ahold of the claims adjuster yesterday. After dealing with more questions and attitude from this woman, Nikki is told that it's State Farm policy to deduct 20% for every year of the bikes age. That makes the replacement on Nikki's 5 year old bike.......................!
Nikki told her what she thought of the policy and negotiated 5% depreciation. Still not replacement cost, but I'll make it work.
If you've got all your policies with one company you'll have a bit more pull, a business policy a bit more. Nikki's whole family has all their insurance, home, auto and business in one office of one company. And if they move it'll be as a group, and the agent knows it, seems to make a difference.
Good Luck
On Jun 13, 2006, at 9:38 AM, cmontgomery wrote:
> Out on the back patio last night, working on my '65 HR Morris for
> an
> upcoming tour. Went in for dinner, came out an hour later and it was
> gone. Some evil person popped over the 6' fence, grabbed the bike,
> threw it over the fence, and skedaddled. Needless to say, I'm feeling
> pretty sick at the moment. This was my flagship. Of all the bikes I've
> ridden over the past 35 years the Morris was the finest handling
> machine
> ever.
> But that's beside the point now. Need to file a police report and
> get in touch with the home insurance people. I don't even know if it's
> covered, but will try anyway. I can come up with an estimate of parts,
> but what do you do about putting a price tag on an irreplaceable frame?
> Do I claim what I paid for it? I'd take it on the chin there. Or do I
> claim what a modern KOF would cost? They'd probably laugh me out of the
> state.
> Personal experiences welcome.
>
> Craig Montgomery
> Tucson
>
>
Gene Powell
Rad Finishes
Portland, OR