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Discussion Starter #1
My Africa twin was stolen a month ago. The insurance company (mce) offered me £1200 as a settlement figure. I had it insured for 4k.
I know they want to offer me the book value of a 1997 bike but when i paid my premium it was based on a valuation of my bike being worth 4k.
What can i realistically expect from them.
 

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My Africa twin was stolen a month ago. The insurance company (mce) offered me £1200 as a settlement figure. I had it insured for 4k.
I know they want to offer me the book value of a 1997 bike but when i paid my premium it was based on a valuation of my bike being worth 4k.
What can i realistically expect from them.
Well, have a chat with Whealie - contact him via his website or fill out his Got a Gripe form. He's done wonders for other bods with insurance gripes.



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OVALTEENY !!!
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Ask them to get you a like for like replacement like Direct Line offering - we have adverts on TV in our area

Speak to Wheelie
 

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Ask Whealie or print off adverts of very similar bikes and present them with hard evidence. Show them Staffordshire Motorbikes adverts and they should soon have a rethink. Their first offer is toe in the water! Good luck
 

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as others have said, first offer is piss taking, agree with others Chris may have some good advice
 

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Gonna post here what I tried to email you (AOL mail is blocking me for some reason so I could not reply).


Unless you paid for an agreed value the amount they will pay will be the current market rate. They are not supposed to make you any better off or worse off than before the claim. I’d say that amount was very low for an Africa Twin and you should challenge it.

Can you look at the policy detail and see if you can identify the actual insurer - MCE is the broker.

Email MCE (the broker) and the insurer (let me know who that is and I’ll give you the correct email address). Copy the email to [email protected] and to me ([email protected]).

Your email should say:

This is a complaint. Please deal with this under your complaints procedure. Please send me a copy of your complaints procedure and make clear at which stage you believe we at.

I am copying in the Financial Ombudsman Service and will take the matter further if I do not receive a satisfactory outcome. I have also copied in insurance journalist Chris Wheal and I authorise you to speak to him about my claim.

I am unhappy at the valuation put on my stolen bike. When I insured the bike I told you it was worth £4,000. At no point was this valuation challenged. I paid a premium based on it being a £4,000. The depreciation this year has not devalued the bike by £2,800. The cannot underwrite at the point of claim.

There are similar aged Africa Twins for sale at close the £4,000 price tag I suggested for my bike.
This one is a 1997 with an asking price of £4,000
Honda XRV750 Africa Twin | eBay
This is a 1998 with an asking price of £3850 and Stafford Motorcycles sells a lot of these bikes so knows the true value of them
HONDA XRV750 AFRICA TWIN. ONLY 23985 MILES DISPLAYED | eBay
This is a 1998 for £3,995
1998 HONDA XRV750 AFRICAN TWIN | eBay

Africa Twins are sought-after bikes with a loyal following.

I expect you to make a revised, realistic offer based on evidence and to supply me with that evidence.

Yours,



I’d let them answer before I give them a call on your behalf.
 

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Discussion Starter #9
Hi thanks for the reply and info.I had a call from mce last friday and they said they would look at re valuing my bike based on the info i had sent them.
I am on a bit of R &R in Devon at the moment and wont be home untill the 14th.
Thanks for all your help so far.
 

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Discussion Starter #10
Hi all just a bit of an update. Got paid out by the insurance company a week ago. After a bit of haggling we agreed on a sum. Bit less than what I paid for it but I was happy enough. Any hoo my daughter took a call from the cops this morning to tell me that they have recovered it. Does anyone know how I go about buying it back from the insurance company.
Also thanks to wheelie for all the advice I am sure it helped with the negotiating.
Regards
Wizard
 

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offer them £1200 less a bit for damage :happy6:
 
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