So I'm not sure about replacement costs of bikes for insurance purposes. When you insure say a 2-year old car, the value is that of a 2-year old car, and that's what you pay, and what you will be compensated for if lost, crashed etc. That figure should go down as the car gets older. I've insured my bike for what I know it's worth on the market if I sell it, and I adjust it accordingly. I'm not sure why one would insure for a new replacement bike that obviously is way more expensive, and why insurance companies accept that kind of valuation? Surely this is what potentially leads to so many fraudulent claims, and pushes insurance costs up?
