Uni Posted June 2, 2014 Share as per title. with the recent spate of insurance threads i figure i should add my bikes to my policy. 1. bikes bought new - i assume you can just insure for new bike price - how do you specify upgrades? 2. if you buy a bike second hand from a private deal, how do you determine what price do insure for without an invoice etc. if it's an old model bike? tx. Link to comment Share on other sites More sharing options...
Tjokkits Posted June 2, 2014 Share even secondhand you must insure for new for old replacement value. I supplied insurers with my proof f payment (so they know its secondhand and I piad much less than new) along with bike shop valuation for new replacement. my understanding is if you insure for less they will treat you as underinsured Uni 1 Link to comment Share on other sites More sharing options...
patches Posted June 2, 2014 Share Step 1. Pick the bike you'd like to replace yours with if money wasn't an issue.Step 2. Contact your local supplier of said bike.Step 3. Insure you current bike for that much. Or... you should be able to take your bike to your LBS and ask them to generate a replacement value quote for your bike. Some will look at the bike as a whole (or it's equivalent). Some will cost it component by component. Edited June 2, 2014 by patches ChUkKy, Uni and Eddy Gordo 3 Link to comment Share on other sites More sharing options...
Grebel Posted June 2, 2014 Share If you bought it new keep the receipts. If second hand, take it in to a dealer and get them to give you a quote based on the bike you own. Specify the item on your householders policy (Or who ever does the insurance) at current replacement value. List any upgrades and their value and add that to the new replacement price. Should get you a new bike in the event of total loss. Don't forget to specify things like lights, Garmin etc as well. Uni 1 Link to comment Share on other sites More sharing options...
patches Posted June 2, 2014 Share They should base bicycle insurance on the GBP, Euro, or USD. I took out insurance on 3 of my bikes a couple of years ago, and whilst my insurer does increase the replacemnt value every year (based on inflation and probably some sums their math people do), my bikes are probably underinsured due to the fact that a weak Rand makes replacing them quite a bit more costly than it used to. Uni 1 Link to comment Share on other sites More sharing options...
Uni Posted June 2, 2014 Share crap so my OH's FS bike its gonna cost a hefty penny for insurance if it's at replacement value? don't have a receipt for my new bike but i know where my LBS is.ok, thanks all. Link to comment Share on other sites More sharing options...
patches Posted June 2, 2014 Share crap so my OH's FS bike its gonna cost a hefty penny for insurance if it's at replacement value? don't have a receipt for my new bike but i know where my LBS is.ok, thanks all. yup! Due to an insane deal I paid 1/3 of replacement value for one of my bikes. Even if I got paid out what I apid for the bike, I haven't seen any 2nd hand deals (let alone new) for close to what I paid. So I bite the bullet and insure for replacement. Uni 1 Link to comment Share on other sites More sharing options...
exsanguinator Posted June 2, 2014 Share considering the cost of bicycles nowdays,I'm surprised a Cartrack type of device has not been invented for bicycles and added as an extra option on the numerous Cartrack type of companies peddling their services here in RSA.Considering there are a few alarm type bicycle locks on the market allready. Edited June 2, 2014 by exsanguinator Link to comment Share on other sites More sharing options...
Butterbean Posted June 2, 2014 Share My insurers required a bike shops assessment to ensure actual ownership and appropriate value. I was surprised, as I would have assumed a much smaller amount than was given by the shop, but everyone was happy once it was forwarded. I also required a photo of all the stuff I insured. I was very grateful for the bigger issued amounts when it came time to claim! Link to comment Share on other sites More sharing options...
Uni Posted June 2, 2014 Share Anyone willing/able to hazard a guess what would be a current equivalent replacement for a 2009 Scott ransom 30 Link to comment Share on other sites More sharing options...
patches Posted June 3, 2014 Share Anyone willing/able to hazard a guess what would be a current equivalent replacement for a 2009 Scott ransom 30 Well seeing as though the Ransom is no longer on production, most bike shops would probably base it on the current equivalent. Perhaps a Scott Genius LT 720 (of which I have no knowledge of local price). Or they woulds base it on an equivalent from a comparable brand. The Giant Reign is what I would guess, but those are also no longer in production. Uni 1 Link to comment Share on other sites More sharing options...
Captain Fastbastard Mayhem Posted June 3, 2014 Share Speaking of... i need to get my reign x assessed Link to comment Share on other sites More sharing options...
RichieT Posted June 3, 2014 Share considering the cost of bicycles nowdays,I'm surprised a Cartrack type of device has not been invented for bicycles and added as an extra option on the numerous Cartrack type of companies peddling their services here in RSA.Considering there are a few alarm type bicycle locks on the market allready.Check this outhttp://www.integratedtrackers.com/GPSTrack/ Link to comment Share on other sites More sharing options...
RichieT Posted June 3, 2014 Share There is a local company selling them, just can't find their details right now.. Link to comment Share on other sites More sharing options...
Oxter Posted June 3, 2014 Share yup! Due to an insane deal I paid 1/3 of replacement value for one of my bikes. Even if I got paid out what I apid for the bike, I haven't seen any 2nd hand deals (let alone new) for close to what I paid. So I bite the bullet and insure for replacement. did you maybe buy this bike from cycle science? They apparently gave excelent deals Link to comment Share on other sites More sharing options...
TK-Sp3cialiSt Posted June 3, 2014 Share I looked into a tracking device for bikes, biggest issue is battery life, the idea is sound and would create a way to track at least a few of the parts if they strip it, a better option would be if the component manufacturers create a tracker crankset with a small dynamo and a rechargeable battery in that. Link to comment Share on other sites More sharing options...
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