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Does this mean that they will pay out in exchange for my bike??
Was it a write off? When I had my Suzuki written off, MCE were like “we reckon it’s worth £500 as scrap so we’re giving you the value of the bike minus £500” and left me with the not road worthy bike. I kicked off at them but they wouldn’t do anything about it despite the fact that as soon as they dropped it off to me, they knew it would be forcing me to break the law as it wasn’t roadworthy so not taxed or insured, nowhere off road to store it. Had to put a cover over it for a few days while I arranged scrappy to take it. For £300…
PhilDAS-
My DR350 was ‘valued’ at £500 scrap, which was deducted from the total payout cost for the full market value of the bike.
I used MCAMS, not my insurer, and for valuation I provided them with the 5 nearest equivalent replacement DR’s by condition, mileage, and year. I then added the evidence of costs of upgrades (long range tank, pumper carb etc). That was sold as much as available to buy.
I got to keep the bike and was paid out a fair sum less the scrap value. The bike fortunately was a financial write-off so Bikesure reinsured it once I had repairs and new MOT.
Unlike you, I had the option to surrender the bike and get £500 extra. Bike was worth more than £500 in parts even if not roadworthy.
pdlouche
Insurance question. I’ve chased up my claim from a few months back.
Third party has claimed responsibility and they want to pay out below quoted repair.
Not fussed either way, however, the TP insurer says they need to deduct 10% for salvage.
Does this mean that they will pay out in exchange for my bike??