Insurance valuations.

[Drawweight]

I've just heard my GS 1200 is going to be Cat B (I disagree but that's another story and I've no say in the matter)

They've offered me a valuation which way below what I paid considering I only had it 6 weeks.

GS 1200 Exclusive TE
67 plate 12000 miles and spotless.
Full BMW history and just been serviced.

I bought it from a BMW dealer with 2 years warranty and paid £11,850 which is strong money but on the other hand I think it's reasonable from a main dealer.

I've been offered.....£9650!!

Yay...if I'd wanted to pay that kind of money I'd have bought from Ebay or Gumtree.

Of course I turned it down flat and he said he'd get back to me in a couple of days. Assuming the worst and the offer still isn't high enough what's my next step?

How far can you push it?

[MrGman]

I had a couple of bikes nicked a few years back, before I was even made an offer I sent them loads of adverts of bikes similar to mine, photos of mine, explained why I wanted what I was asking for, I was fully expecting them to come back with a value under what I had asked for, they didn’t though, they just agreed with me and sent me a cheque.

It was a £18k claim so a decent amount.

Do what I done and send them loads of adverts, list all the reasons you bought THAT bike for its price tag and so on…
Push them as far as you can, you shouldn’t be far off what you paid for it if you’ve only had it six weeks.

[Krikkit]

Yep as GMan has said - find another one as close as humanly possible on AT or better a BMW dealer and send them a link to the advert, copies of your purchase and a general condition description.

Try and be as concise and reasonable as possible and avoid emotions etc in your reply - it's likely just some poor sod working for £12/hour assessing it who doesn't want to be upset by yet another grumpy letter.

[talksthetorque]

Have they seen the receipt?

Have you asked for a refund from the dealer on the warranty if it's an extended one, as you won't be using it?
( I don't know if this is possible)

[TT1138]

Drawweight said:

I've just heard my GS 1200 is going to be Cat B (I disagree but that's another story and I've no say in the matter)

They've offered me a valuation which way below what I paid considering I only had it 6 weeks.

GS 1200 Exclusive TE
67 plate 12000 miles and spotless.
Full BMW history and just been serviced.

I bought it from a BMW dealer with 2 years warranty and paid £11,850 which is strong money but on the other hand I think it's reasonable from a main dealer.

I've been offered.....£9650!!

Yay...if I'd wanted to pay that kind of money I'd have bought from Ebay or Gumtree.

Of course I turned it down flat and he said he'd get back to me in a couple of days. Assuming the worst and the offer still isn't high enough what's my next step?

How far can you push it?

That valuation is nonsense. £11850 is probably about right for a GS of that age/ mileage from a main dealer. When a driver managed to write my bike off a few years ago I was in the same position. From a truly insulting first offer I ended up getting a very fair price.

Best thing to do is just find as many examples as you can, eBay, autotrader etc, main dealer only. As someone else said, keep it civil, but if they come up with ridiculous figures tell them it’s stupid, then show them why.

The other argument you can use is to put it back on them. If they say £9650 ask them politely where they’ve found a main dealer stock GS in the same condition as yours for that money. Watch them hesitate, as clearly it’s impossible.

Keep pushing, they’ll give you the right price eventually.

[LF5335]

Drawweight said:

I've just heard my GS 1200 is going to be Cat B (I disagree but that's another story and I've no say in the matter)

They've offered me a valuation which way below what I paid considering I only had it 6 weeks.

GS 1200 Exclusive TE
67 plate 12000 miles and spotless.
Full BMW history and just been serviced.

I bought it from a BMW dealer with 2 years warranty and paid £11,850 which is strong money but on the other hand I think it's reasonable from a main dealer.

I've been offered.....£9650!!

Yay...if I'd wanted to pay that kind of money I'd have bought from Ebay or Gumtree.

Of course I turned it down flat and he said he'd get back to me in a couple of days. Assuming the worst and the offer still isn't high enough what's my next step?

How far can you push it?

You’ve had it 6 weeks. Send them the invoice / receipt and tell them thats what you want. That should be the end of it.

[KTMsm]

They can be unreasonable and then you can go to the ombudsman

I've always found they were ok if you provided enough proof - go find comparable bike ads

[Fenland Plodder]

Had a bike stolen about 20 years ago and quite literally had to cut and paste ads from bike mags to send them. That they’re still asking the same today just takes the piss. Surely a receipt from you and a 5 minute look on eBay would solve the issue. They’re just looking to rip us off.

[Drawweight]

I’ve emailed the engineer (who seemingly has the say on price)

Told him the details about my bike plus went on to Autotrader and looked for similar bikes.

I could only find 5 nationwide of the same model and year, one cheapie at a bike supermarket type place and the other 4 at BMW dealers at a similar price or even dearer.

So hopefully I’ll get a better offer tomorrow.