Stolen & recovered - need advice about insurance/repairs

[Swisscheese]

So, my GSXR got stolen recently in London. Police got in touch to say they had recovered it....will pick it up soon at the police station.

Spoke to the PC on the phone who chased down the thief. Apparently, a classic theft - bike was being pushed along by a scooter. Bike was dumped in the road when the police started following. Thief got away on the back of his mate's scooter.

I don't remember for sure, but I think I put the steering lock on when I parked the bike, so this may have been broken to steal it. The police told me though that they thought the bike is in good condition for me to ride it home, since the thief managed to move it to the other side of London and seemed to be steering it fine around corners until he ditched it.

Wondering now what to do about the insurer and repairs, assuming the steering lock is broken.

The bike is about 15 years old. I bought it at auction as a category N write-off. It was uneconomical to repair then apparently due to some minor fairing damage and a broken headlight assembly (???). I fixed it myself at very little cost and it was in great condition with pretty low mileage.

My understanding is that a broken steering lock is a sure write-off (going by the fact that the previous minor damage made it a write-off!).

Since I bought it as a category N and I have put quite a few more miles since then, I imagine that the insurer will consider the bike to be almost worthless at the time of theft, despite being in good condition to me. Looking at similar bikes on ebay, they are going for between £3800 - £4500 or more at the moment.

If the steering lock is broken, the insurer would consider the bike a write-off and wouldn't offer anything like the amount I'd need to purchase a similar bike, any advice on what to do?

If the bike still rides fine, should I just inform the insurer of the attempted theft but not make an insurance claim? And not have the bike assessed?

I'm leaning towards this, because I don't have a few £Grand available at the moment to make up the difference to buy a similar bike off ebay - and I love this GSXR. Also, I dont want my insurance to go up and I want to keep my no claims.

But what if the bike had the steering lock on and it has been broken now? Presumably, the bike wouldn't be covered in the case of future theft if the steering lock wasn't being used. I go to London a fair bit, so future theft isn't so unlikely.

I'm pretty good at doing all servicing on my bike myself. However, if the steering lock is broken, I understand this is a hard job to repair yourself (finding all the parts on ebay, special tools, lots of time etc). Also I need my bike for transport ASAP. So I wouldn't be keen to fix this myself right now (if that needed doing).

Any advice would be greatly appreciated.

[Nobby the Bastard]

Just a broken ignition inc. steering lock wouldn't write it off, but dropping it on it's side would.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[Swisscheese]

Yeah, it was definitely dumbed on its side from what the PC told me.

[WD Forte]

Most steering locks are feckin useless, (obviously)
I'd focus on damage to vital parts not cosmetics and if it's
safe and fit for road use, or can be made so easily, carry on.

I wouldn't bother calling the insurance company unless I wanted to actually claim and get a decent payout.

When my lads bike was nicked and quickly recovered, we just fixed it and carried on regardless.
When my old bike was nicked and found down the road with
the wiring butchered, same again.
____________________
bikers smell of wee

[grr666]

[Polarbear]

I would agree that the claim will not be worthwhile so don't even contact them or they'll load your premium somewhere along the way. Just repair it as cheaply as you can.
____________________
Triumph Trophy Launch Edition

[Swisscheese]

[Swisscheese]

[Swisscheese]

[grr666]

Oh they would have been armed no doubt, even if it's unlikely to actually happen they do expect the possibility of being
challenged rather than just filmed by bystanders, even if they only wave their angle grinder at you threateningly.
Something with a bit of range is the best bet for a counter attack, a whale tusk or powder fire extinguisher for example.
____________________
Currently enjoying products from Ford, Mazda and Yamaha
Ste wrote: Avatars are fine, it's signatures that need turning off.

[Ste]

Why would they think yours is worthless when similar bikes are going for between £3800 - £4500 or more?

How old are you, how much was the policy and how much is your excess?

[Pete.]

If It's already a cat n then they might claim it has a very low (or zero) insurb;le value since all the value of the bike had already been paid off. I never heard of this actually happening but my mate was advised such when he went to insure a cat C.

Also, thik very carefully about whether they asked you if it had ever been subject to a total loss claim when you insured it. It's normal practice to ask this and if you didn't say yes then don't try to claim.

Also, if they pay you out as a total loss, your insurance will end and you'll have to start a new policy, with the inevitable loading and loss of NCD.

Personally, I would repair it nd keep riding.
____________________
a.k.a 'Geri'

132.9mph off and walked away. Gear is good, gear is good, gear is very very good

[Nobby the Bastard]

I've never had insurance cancelled due to being paid out. Remember, the bulk of their risk and what you are legally required by law to have is the third party insurance a d not the value of the car you are insuring.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[Capt Sisko]

[Nobby the Bastard]

How comes last time I had a bike written off (my fz, stolen and collected from the filth by the insurance company) I then transferred the policy to a reaplacement (the exup valdez)?

The legal minimum insurance is 3rd party. That doesn't cover in any way your vehicle. OInly anyone else (including your passengers.)

The biggest liability, even with TPFT and fully comp is that 3rd party insurance and you are paying for a full year.

If your insurance is cancelled afterwards I'd be shouting to the insurance ombundsman about ther fact that they are denying you the full year 3rd party insurance that you paid for.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[Easy-X]

[Nobby the Bastard]

Quadrospazzing a car full in your own car costs massively more than hitting a lambo. Thats where the potential liability of 3rd party insurance is huge.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[arry]

[Nobby the Bastard]

That would be the sort of information about the policy I would expect to be given before I stump up cash.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[arry]

[sickpup]

[Swisscheese]

[Swisscheese]

[Swisscheese]

[Nobby the Bastard]

The dent in the wheel rim is likely to be an mot failure.
____________________
trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050