run over by a ute.

I just heard from the insurance company ref. my bike that was damaged
last month and they are prepared to replace it for the market value with
an identical second hand one of from Ebay worth $1800.00 buy it
now.(eBay item no 270107432823)
Is this the normal way for the insurance company to pay out the claim or
am I being screwed over. The bike was barely over 12 months old and
still in warranty.

Dropbear Wrote:
I just heard from the insurance company ref. my bike that was damaged
last month and they are prepared to replace it for the market value
with
an identical second hand one of from Ebay worth $1800.00 buy it
now.(eBay item no 270107432823)
Is this the normal way for the insurance company to pay out the claim
or
am I being screwed over. The bike was barely over 12 months old and
still in warranty.

That's absolute rubbish. Request documentation stating what the
bicycle was originally insured for, and demand a new bike to that
value. If that sum doesn't suit your requirements, ask them to pay it
out and add what you need. If they still don't want to party, let them
know that you are willing to refer the case to the Ombudsman for
settlement. Make sure you keep a record of their offer to settle with
a used bicycle bought from Ebay - as i'm sure the Ombudsman will be
delighted by that little ditty.

gm


--
gravelmuncher

On Apr 11, 9:41 am, Dropbear wrote:
I just heard from the insurance company ref. my bike that was damaged
last month and they are prepared to replace it for the market value with
an identical second hand one of from Ebay worth $1800.00 buy it
now.(eBay item no 270107432823)
Is this the normal way for the insurance company to pay out the claim or
am I being screwed over. The bike was barely over 12 months old and
still in warranty.

Who is your insurer?

When I had an old crappy bike stolen once it was replaced with a
shining new one of the same model, insurer was SGIO.

Travis

On Apr 11, 2:27 pm, "Travis" wrote:
On Apr 11, 9:41 am, Dropbear wrote:

I just heard from the insurance company ref. my bike that was damaged
last month and they are prepared to replace it for the market value with
an identical second hand one of from Ebay worth $1800.00 buy it
now.(eBay item no 270107432823)
Is this the normal way for the insurance company to pay out the claim or
am I being screwed over. The bike was barely over 12 months old and
still in warranty.

Who is your insurer?

When I had an old crappy bike stolen once it was replaced with a
shining new one of the same model, insurer was SGIO.


If nothing else.. losing the warranty is enough for complaint.

Whose insurance are we talking abou? Yours (shouldn't want to screw
you) or the party at fault (will do all that is humanly possible to
screw you and all your proginy).

Duncan Wrote:
If nothing else.. losing the warranty is enough for complaint.Agreed there! The insurance company seem to be using an "equivalent"
bike as a way of arriving at a valuation for yours, as they do with
cars all the time. Good on them for finding a way to value the bike,
but they have gotten it wrong - the issue here, which they have either
overlooked or chosen to ignore, is the absence of a warranty on their
chosen replacement.

The Insurance Ombudsman
http://www.insuranceombudsman.com.au...?id=1&PageID=7
would be able to give you information on your situation, but my guess
would be that by replacing an in-warranty bike with an out-of-warranty
one, the replacement is "substantially not equivalent" (or some such
legalese) to your damaged bike.

I found that escalating the claim (ie telling the insurance company
drone that you need to speak to their supervisor) was the only way to
go when I reached a similar dead end.


--
roshea

On Apr 11, 12:34 pm, "Duncan" wrote:

If nothing else.. losing the warranty is enough for complaint.

Yeah, you've definitely got a point there. If it was any manufacturer
other than a Trek...

Travis

why not a Trek Travis?
"Travis" wrote in message
oups.com...
On Apr 11, 12:34 pm, "Duncan" wrote:

If nothing else.. losing the warranty is enough for complaint.

Yeah, you've definitely got a point there. If it was any manufacturer
other than a Trek...

Travis

On Apr 11, 4:55 pm, "just us" wrote:
why not a Trek Travis?

Trek's warranty is to the original purchaser, and is not transferable.

I think you'll find this is common to a lot of lifetime warranties.

ahhhh ok well I am happy with the Trek so will see out the warrenty

Duncan wrote:
On Apr 11, 2:27 pm, "Travis" wrote:
On Apr 11, 9:41 am, Dropbear wrote:

I just heard from the insurance company ref. my bike that was damaged
last month and they are prepared to replace it for the market value with
an identical second hand one of from Ebay worth $1800.00 buy it
now.(eBay item no 270107432823)
Is this the normal way for the insurance company to pay out the claim or
am I being screwed over. The bike was barely over 12 months old and
still in warranty.
Who is your insurer?

When I had an old crappy bike stolen once it was replaced with a
shining new one of the same model, insurer was SGIO.


If nothing else.. losing the warranty is enough for complaint.

Whose insurance are we talking abou? Yours (shouldn't want to screw
you) or the party at fault (will do all that is humanly possible to
screw you and all your proginy).

It is their insurance RACQ that is giving me the run around.