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thanksbye
@Cyclopathic
Hi all,
Been a while since I was last on here but am again in need of some advice.
Was out on a spin last week and managed to clatter a pothole hard enough to dent my rear rim and crack my carbon seatpost. Insurance covers accidental damage so am now in conversation with them to get it sorted.
I had my bike insured for £1,200 – what it was worth when I bought it. However, apparently, I should have insured for brand new replacement value (c.£1,950), so have been underinsured. That’s probably on me for not realising when I insured it.
They’re now saying that this means they’ll only pay out that proportion (c.62%) for replacement of the damaged components. So rather than c.£575 for new wheelset and seatpost, it’ll only be c.£356 (62% of it).
I understand their viewpoint, but think it’s not fair if I’ve been paying premiums that essentially cover £1200 worth of damage, for them to turn around and not cover damage to less than that insured amount? I would have thought the components should be covered in full up to the insured value.
Thoughts?
Do I have a leg to stand on? Suck it up and take the smaller payout, or argue my case a bit?