You are reading a single comment by @timbre and its replies.
Click here to read the full conversation.
-
The insurance policy against which you are claiming will indemnify you for your losses, subject to betterment.
That's to say if it was a second-hand bike you were riding, you won't get a new one out of it.
The party at fault should restore him to the condition he was in before. If he likes his old bike, and it is not possible to buy a new/used one the same or better, then the cost to the other party will be the cost the repair. It's not about how much money you can get, it's about how much it will cost to put things back to the way they were before.