Insurance Offer - Any Views or Comments?

headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

Just come off the phone from the Insurance company....after much wrangling and haggling they have offered to pay me £4,500 for my 11 month old Fazer, whch was stolen in August. I said I'd think about it for 24 hours & give them an answer tomorrow. Given they started at £3,900 and I got them up to that figure I feel is not too shabby.....any views, comments?
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mrbluesbox · Scooby Slapper Joined: 14 Sep 2006 Karma :

how much did you pay for the bike when it was new?
If the offer is anywhere near that id take Smile

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gixxersixx · Trackday Trickster Joined: 17 Sep 2006 Karma :

If you can get an identical one in the same condition with similar mileage then yes, if not start saying youre going to be speaking with the insurance obudsman they normally start rethinking then
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headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

I bought the bike a year ago....I paid approx. £1,000 more than they offered me.
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dibbster · Nearly there... Joined: 15 Apr 2004 Karma :

Have a look in biketrader etc and see how much they are been sold for, if they are been sold for more than £4,500, use the adverts as evidence and ask for an increased offer from the insurance company.

How many miles has it done?
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headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

....hardly any. Wink

The slight problem of using current guides, is that it does not neccesarily reflect the price two months ago when the bike was stolen. I would assume that bike values fall just before Winter and are highest in April/May. I successfully used this argument when negotiating the offer with the Insurance company.
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Ant · World Chat Champion Joined: 24 Feb 2003 Karma :

if you think its a fair price and you could get what you want with the money i'd go for it, after all you loose 1k on a modern bike in a year easy.
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dibbster · Nearly there... Joined: 15 Apr 2004 Karma :

headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

...the prices that they offered were lower, hence the negotiation. I did ask for 'full replacement value for a new bike', so I guess I'm wondering if I could squeeze another couple of hundred out of them!
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Mr.Everready · World Chat Champion Joined: 28 Mar 2003 Karma :

Check on Parkers https://www.parkers.co.uk/motorbikes/used-prices/

What model and year was it ?
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headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

It was a 2005 Yamaha Fazer 600
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Mr.Everready · World Chat Champion Joined: 28 Mar 2003 Karma :

What's that, the faired or unfaired one ? Laughing

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Mr.Everready · World Chat Champion Joined: 28 Mar 2003 Karma :

Original thread https://www.bikechatforums.com/viewtopic.php?t=61984
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Mr.Everready · World Chat Champion Joined: 28 Mar 2003 Karma :

Just had a look at prices. The list price for new is £5299 so £4.5k sounds like a decent offer.

https://cgi.ebay.co.uk/2005-YAMAHA-FZ6-FAZER-BLUE_W0QQitemZ220037012122QQihZ012QQcategoryZ9809QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
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headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

...I think so too. Although it did have a pannier and alarm! The next one's going to have Tracker!!
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jimster · Spanner Monkey Joined: 16 Mar 2005 Karma :

If they've offered you an amount they won't withdraw the offer...so just come up with a reason (any reason!) to ask for more. (for instance: in my area bikes are more expensive / my bike had particular features / i'm greedy / it's wednesday)

I did this and kept going back until they said "we're not giving you any more money". Got 30% more than they initially offered! (although was a much cheaper bike than yours)
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