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What would you pay for this?


brendon1989
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I am debating at what price I should use for insurance on this bike.

 

What would you pay for this bike, 2nd hand?

The bike is in good condition, so take that into consideration, and I'm not selling the bike, so try be honest with your answers please.

 

Frame: Felt F1 full carbon

Wheels: HED Stinger 60's and Nest Titanium skewers

Groupset: Dura-ace 7800

Seat Post: KCNC Scandium Pro

Handle Bar and Stem: Ritchey Pro WC Series

Saddle: 94g Carbon saddle from E-Bay

Pedals: Look Keo Max

 

Your help is greatly appreciated!

post-24511-0-26287400-1313942039.jpg

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The way to work it out is like this.

Frame - R....?

Wheels - R....?

Groupset - R....?

Do that quick calculation and you can see how much to insure it for.

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Cant insure for secondhand value, but must insure for replacement value.

 

At a guess(timate) I would reckon about R40k.

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Cant insure for secondhand value, but must insure for replacement value.

 

At a guess(timate) I would reckon about R40k.

 

+1 :thumbup: I would never insure for what it would cost to buy 2nd hand. You need to insure it to be able to replace the bike with a similar 'bracket' bike.

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+1 :thumbup: I would never insure for what it would cost to buy 2nd hand. You need to insure it to be able to replace the bike with a similar 'bracket' bike.

+2

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Cant insure for secondhand value, but must insure for replacement value.

 

At a guess(timate) I would reckon about R40k.

 

Agree

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Insurance is old for new, you might buy a bike for R10k second hand, but if you were to walk into a bike shop on that day and buy the same bike (or current equavalent) brand new, you'd pay R30k as an example. You must insure the bike for the R30k then.

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Insurance is old for new, you might buy a bike for R10k second hand, but if you were to walk into a bike shop on that day and buy the same bike (or current equavalent) brand new, you'd pay R30k as an example. You must insure the bike for the R30k then.

 

+1 :thumbup:

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Cant insure for secondhand value, but must insure for replacement value.

 

At a guess(timate) I would reckon about R40k.

 

I would say more like 60K

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That would be insured as a specified all risk item meaning that you need to insure it for replacement value (like you would a camera). If it gets stolen the insurer isn't going to shop around for a second hand bargain for you! They pay you out for the replacement costs for s bike in the same bracket as mentioned before (or what you specified as a value). If you built the bike as a custom build then you need to itemise the components as you willl probably go that route again.

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