Insurance settlement advice

[scottyboy2203]

Hi foccers,
 
Just been through the pain of settling an insurance claim myself after a car backed into me. Thankfully the idiot accepted liability and his insurance is paying out. I'd like advice on the value of my fazer. Its a 2001 plate foxeye model with ~40k miles and in good mechanical condition, excellent cosmetic condition and recently serviced. Its got all the history etc etc. They've offered £1800, this seems reasonable to me...yay or neigh?
 
Ta!

[darrsi]

I did a search for a 2002 as that is normally the Foxeye year:
 
http://www.wisebuyers.co.uk/index.jsp?guide=prices&page=used_bikes&no=2&make=Yamaha&bikeid=87&yearplate=2002%2F02&x=55&y=5

[Robbus]

Trawl Autotrader for trade only sales and find comparable bikes, ideally over £2k and counter their offer with that evidence. Highlight any extras you added of course.


Cheers,
Rob

[Tefer]

I did a search for a 2002 as that is normally the Foxeye year:
 
http://www.wisebuyers.co.uk/index.jsp?guide=prices&page=used_bikes&no=2&make=Yamaha&bikeid=87&yearplate=2002%2F02&x=55&y=5

This is basically what I did when i had to make a claim on my insurance, according to the Link I would say take the £1800.

[Frosties]

Never ever accept the first offer fella. Phone them up with the "I can't replace my bike like for like with that settlement". 9 times out of 10 it's an instant £100 boost - its only a quick call after all.


Good luck.

[Hedgetrimmer]

Never ever accept the first offer fella. Phone them up with the "I can't replace my bike like for like with that settlement". 9 times out of 10 it's an instant £100 boost - its only a quick call after all.


Good luck.

Yep, go to the trouble of finding similar bikes for sale at the highest prices and say, "this is what I'd have to pay to replace mine with one of similar condition/mileage etc." I used ones from MCN site, and got a valuation from a friendly dealer - "this is what we'd sell one like that for." Got several hundred more than their first offer, and they didn't argue at all - had the cheque for the extra amount within a couple of days. Also, what amount did you insure it for? This figure might be helpful too.