Dealing with insurance company for claim

Zascar

Hey guys, So next week I'll be talking to the insurance company about my claim. Has anyone done this before and how does it work? I'm scared they are going to screw me. There are a few for sale right now in the 4.5k - 5.2k mark. They are 2006 mine was 2005, but as you saw from the photo it was a minter and had lots of extra little touches like shiney bits and carbon. Also very low milage at 11,000km.How do they value it or how do I negotiate does anyone know?

Wonda-Boy

Unfortunately they will try to screw you, it does not matter what extras you had on the bike you will not get the money from them (unless you specifically added them to the policy by declaring them) the condition of the bike being a minter will not sway them either TBH. They will go by book value, If it was me I would troll the net finding absolute minters for sale same year as yours in the UK and Ireland that are the most expensive and they will average the price out for you. Instead of them saying I seen one for 4K so we will offer you €3800 kinda deal.

Be hard with them and dont take the 1st offer haggle like a mad man......;)

BrokenArrows

I had a claim for my last bike that got stolen.
The insurance company paid out more than the market value of the bike. Maybe I just got lucky!

Wonda-Boy

Jaysus that must be a 1st!!!!

BrokenArrows

Wonda-Boy wrote: »

Jaysus that must be a 1st!!!!

The person I was dealing with at the insurance company was off sick for a week, so I assume she wasn't 100% when she got back and just paid out too much. lol.

Zascar

How long does it usually take to get the payout does anyone know?

BrokenArrows

Zascar wrote: »

How long does it usually take to get the payout does anyone know?

I got mine authorized about 10 business days after submitting all my documentation and got the cheque in the post a few days later.

Wonda-Boy

Thank God I dont know, and hopefully never will.

Zascar

One more question, I paid extra for full no claims bonus protection. I assumed I will retain my 5 year ncb and my insurance wont go up. However I was told this is not the case. Is this true?

Wonda-Boy

The way I taught it works is that you might lose "some" of it....which is a total sham TBH. If it protected it should be protected end off.....the insurance companies are the best at robbing people legally.

RosieJoe

Zascar wrote: »

One more question, I paid extra for full no claims bonus protection. I assumed I will retain my 5 year ncb and my insurance wont go up. However I was told this is not the case. Is this true?

Biggest issue you will find is that you will be stuck with your current insurance company for the next few years. If you try to move you'll get asked if you've made a claim in the past X years, saying yes will load your premium.

BrokenArrows

Zascar wrote: »

One more question, I paid extra for full no claims bonus protection. I assumed I will retain my 5 year ncb and my insurance wont go up. However I was told this is not the case. Is this true?

Depends on what exactly your terms and conditions say. Time to start reading!

Zascar

So basically when my bike was damaged when someone tried to nick it, I called to claim and they said I had step back no claims. I would lose 3 out of the 5 nears ncb. I went mad, I did not claim but I made sure they renewed me with Full no claims. I'll call them today and see anyway

bladespin

Zascar wrote: »

So basically when my bike was damaged when someone tried to nick it, I called to claim and they said I had step back no claims. I would lose 3 out of the 5 nears ncb. I went mad, I did not claim but I made sure they renewed me with Full no claims. I'll call them today and see anyway

Full NCB protection and step back are different things, if you payed extra for full protection then you're entitled to that.

BaronVon

Zascar wrote: »

One more question, I paid extra for full no claims bonus protection. I assumed I will retain my 5 year ncb and my insurance wont go up. However I was told this is not the case. Is this true?

They ask you 2 things, have you ever made a claim and, what's your no claims.
So you answer that you have 5 years NCB, but made a claim last year. It kinda contradicts itself, but it shouldn't affect your next policy.

Well, it didn't for me anyway......

Wonda-Boy

Its kinda like selling you a condom, with a "pinhole" in it!

Alkers

Zascar wrote: »

So basically when my bike was damaged when someone tried to nick it, I called to claim and they said I had step back no claims. I would lose 3 out of the 5 nears ncb. I went mad, I did not claim but I made sure they renewed me with Full no claims. I'll call them today and see anyway

My understanding of it is you will retain your NCB (a % discount off of the policy price) but that your policy price may go up as you have made a claim.
I.e. last year with say 5 years NCB you got 50% off of a €500 policy and paid €250. This year you will get 50% off a €1,000 policy and pay €500 (random figures).

Zascar

I hope thats not the case but I would not be surprised since they are a shower of bastards.

Can anyone advise as to how to get a fair value from them for your bike? There are currently three 749's on donedeal for between 4.4k and 5.2k. Some older some newer. In the UK however they are all around the UK£5k mark.

I'm told there is a 'book value' which they will go on. How do I find out what that is?

RosieJoe

Zascar wrote: »

I hope thats not the case but I would not be surprised since they are a shower of bastards.

Can anyone advise as to how to get a fair value from them for your bike? There are currently three 749's on donedeal for between 4.4k and 5.2k. Some older some newer. In the UK however they are all around the UK£5k mark.

I'm told there is a 'book value' which they will go on. How do I find out what that is?

Ring Ducati in Ballymount and ask them, they might be able to help. You might need to explain why you need info.

Wonda-Boy

RosieJoe wrote: »

Ring Ducati in Ballymount and ask them, they might be able to help. You might need to explain why you need info.

Yeah, ask them for an estimate if you had to replace one second hand (as in value) with your mileage and add ons. Usually its the price they pay minus a nice big chuck of profit for the dealers.

Wossack

good idea above there

my mothers car was pinched a good while back, and the insurance were really lowballing her. In the end she did the above, and got a statement from the garage saying it was worth x, and the insurance company came up to it (or very near anyway). Definitely gave her a bit of bargaining power anyway.

Zascar

Insurance company are playing hardball. Offered me 3.5 minus excess. I think mine is worth 4k at least. The cheapest 749 on donedeal is 4.4k and its a year older than mine. There are two others around the 5k mark. They said they got a price from Ducati Dublin. I called them and they said they give a range based on condition etc. Not much more I can do, unless anyone has got any better ideas?

subway

my opinion would be that you need time.
they know you want a new bike so will offer low.
the longer you can negotiate, the more likely they will be to up the offer.
keep sending them letters and documentation of value, donedeal ads, bikes in shops etc

also, you can assume they are reading this thread

Zascar

So quick update. It took me two weeks of arguing but I eventually got there..

When they first came back with a lower than expected amount, I sent them 4 examples of bikes like mine (most not quite as nice) and the girl said she would go back to the assessor and see what he said. They came back and said no, they were sticking at that level. I was pissed. I asked how they got the valuation, they said they spoke to Ducati Dublin. So I called Ducati Dublin and had a chat with a guy who said it was not him who gave the number, but there are many factors that price a bike and they would usually give a range - as it depends on several other things. Liberty I'd say took the low end of that range. I went back to them and they started asking me for service records and if the belts were done etc etc. I was pretty annoyed by this so simply responded that I was under the opinion that an insurance company is supposed to give me the value that I can replace my bike - so why are they giving me almost 1k less then the cheapest bike on the market...??

The woman I was dealing with was very nice so I tried my best be nice to her and get her on side, and in fairness to her she fought my corner and came back with a higher amount which was what I was hoping for. So in the end I'm happy.

One more thing to note. When getting a quote they will ask you the value of your bike. Do not low ball this figure hoping for a cheaper quote, Number 1 it makes no difference, but mainly, this figure is the max they will ever pay out regardless. Turned out that when I changed policies the amount I had valued the bike at had dropped - which made things more difficult for me. Lesson learned.

So moral of the story is be nice but dont accept the first (or second) offer, play hard and have evidence...

galwaytt

I had an accident in April last, and it took 'til December to settle it - I simply refused, and challenged, and queried, and kept going back to them.

I didn' t have NCB protection (big fubar that), which is one reason I fought them so hard. In the end, we agreed on a sum AND I kept my full NCB. Reasonable settlement, but bloody hard work.

But, interestingly I was insuring a new (well, used) car a few weeks ago, via a broker, and guess who the best price came from.............??...my bike insurer !. On the form it asked if I have had a claim inside the last 5 years. So I wrote on it 'Yes, on a motorcycle, but not a car. See policy ref xxxx'. Anyway, speaking to the lady in the broker's she told me it was the right thing to do as when the put through the rfq for me originally, it came back I had a claim - albeit it didn't affect the actual price. So, if I had said 'No' on the form I could have caused a whole new bunch of headaches.........

I've since insured another car, and told them the same (different company though), and they said it made no difference to my insurance anyway.

So they DO read the stuff.............caveat etc....

Zascar

Interesting to know thanks gtt. So when my car insurance is up (different company) do I have to tell them about my bike claim?