Insurance claim for written off bike

[zed 1,472]

By bike was totalled in an accident and I'm getting a new bike from my insurance. They said they wanted the bike for selling the salvageable parts. I stripped the bike and have given them all salvageable parts, the bike shop wrote off front wheel, forks, frame and front brake. They all went in the bin, the frame was almost bent in half. Now the insurance company is saying they need the broken bits too.... I'm guessing they are on the tip somewhere. Can they withheld payment if I don't produce the broken bits?

Edited June 19 by zed

[more 438]

How did you crash your bike??? 

[pieman 1,299]

2 minutes ago, zed said:

By bike was totalled in an accident and I'm getting a new bike from my insurance. They said they wanted the bike for selling the salvageable parts. I stripped the bike and have given them all salvageable parts, the bike shop wrote off front wheel, forks, frame and front brake. They all went in the bin, the frame was almost bent in half. Now the insurance company is saying they need the broken bits too.... I'm guessing they are on the tip somewhere. Can they without payment if I don't produce the broken bits?

Cant answer your question but it really is interesting how these things are treated differently by different companies/situations..

I know someone who backed over their TT bike. It had bent fork and broken wheel but nothing else visible. Bike shop declared it a write off and they had a cheque for full replacement of a new bike in two days without anything back to the insurer. They then sold all parts of bike for extra money.

another case of TT bike vs underground carpark and the bike shop advised cracked frame and the insurer paid the costs of a carbon frame repair ($700)...

 

[AA7 1,737]

9 minutes ago, zed said:

By bike was totalled in an accident and I'm getting a new bike from my insurance. They said they wanted the bike for selling the salvageable parts. I stripped the bike and have given them all salvageable parts, the bike shop wrote off front wheel, forks, frame and front brake. They all went in the bin, the frame was almost bent in half. Now the insurance company is saying they need the broken bits too.... I'm guessing they are on the tip somewhere. Can they without payment if I don't produce the broken bits?

I don't think any of us can answer that. Ask the insurance company.

[roxii 6,475]

Did you get photos?, or maybe get a stat dec from the bike shop stating the parts were damaged, unsafe, unusable and disposed of appropriately. 

[zed 1,472]

17 minutes ago, more said:

How did you crash your bike??? 

I didn't crash it, it was hit by a car.

[zed 1,472]

4 minutes ago, roxii said:

Did you get photos?, or maybe get a stat dec from the bike shop stating the parts were damaged, unsafe, unusable and disposed of appropriately. 

yeah bike shop did a report for insurance company and said frame, forks, front wheel and front brake were written off. Insurance company said they want to sell salvageable parts and I assumed they meant all working parts.... 

[more 438]

6 minutes ago, zed said:

I didn't crash it, it was hit by a car.

Geez u ok? When this happen, cant recall reading about it?

[zed 1,472]

Just now, more said:

Geez u ok? When this happen, cant recall reading about it?

Yeah I wasn't on the bike at the time. Luckily! Happened a month ago.

[willie 1,546]

So how did someone run over/hit the bike? 

[zed 1,472]

3 minutes ago, willie said:

So how did someone run over/hit the bike? 

some idiot rested it up against the back of his ute, ran back inside to get a bag, forgot he hadn't loaded his bike and reversed over it.

[Ex-Hasbeen 7,468]

24 minutes ago, zed said:

some idiot rested it up against the back of his ute, ran back inside to get a bag, forgot he hadn't loaded his bike and reversed over it.

Maybe in a more traditional accident they may not have been as suspicious of where the rest of the parts went.

[KieranR 1,764]

38 minutes ago, zed said:

some idiot rested it up against the back of his ute, ran back inside to get a bag, forgot he hadn't loaded his bike and reversed over it.

what was in the bag? not a pair of women togs worn once that have finally sold ????  

[Bored@work 3,688]

A guy I know was getting his S-works off the roof of his car. The wind caught the deep dish wheels. It blew out of his hands bounced on the road and in to an on coming truck. Insurance couldn’t salvage a thing from it.

[willie 1,546]

1 hour ago, zed said:

some idiot rested it up against the back of his ute, ran back inside to get a bag, forgot he hadn't loaded his bike and reversed over it.

Hahahaha

I left my bike at a race not that long ago. Leant it up against the side of my car and drove off.... 

Pretty sure GoEasy took it home for me. I have never, touch wood, driven over one or had it on the roof and smashed it up. It's only a matter of time I guess. 

[zed 1,472]

8 minutes ago, willie said:

Hahahaha

I left my bike at a race not that long ago. Leant it up against the side of my car and drove off.... 

Pretty sure GoEasy took it home for me. I have never, touch wood, driven over one or had it on the roof and smashed it up. It's only a matter of time I guess. 

It makes a horrible noise. 

[Ayto 574]

We we driving home from Canberra Half a few years ago. 3 of us in the car. 2 bikes on a rack on the back, and 1 Cervelo on the roof at the insistence of its owner.

5km South of Gundagai I was driving and come up behind a b double overtaking another b double. Long story short, wind shear coming off the back of the truck caught the Cervelo and ripped it off the roof.  It was the most fascinating thing watching it slide along the Freeway at 110km/h.

Fortunately, aforementioned Cervelo owner was also the owner / managing director of one of the biggest regional based insurance brokerages in the country. He had his bike replaced very quickly  😎

Good luck with your claim!

[Ex-Hasbeen 7,468]

1 hour ago, zed said:

It makes a horrible noise. 

It makes a worse noise when someone else drives over it.

And you are on it.

[Shrek 341]

Partners mum accidentally rolled car through garage last year with several good carbon bikes getting badly damaged...

Insurance company goes through bike insurance company that is based in Cronulla...same location as a bike shop

Insurance company tried to force hand that we go through that shop for replacement bikes upon providing the damaged ones...

Employee of the insurance company is constantly selling items on marketplace etc different brand to what he rides 🤔

Better half maybe blonde but knows her bike stuff and stood her ground with their dodgy tactics....took cash settlement without providing damaged bikes...🤔

[pieman 1,299]

38 minutes ago, Ayto said:

We we driving home from Canberra Half a few years ago. 3 of us in the car. 2 bikes on a rack on the back, and 1 Cervelo on the roof at the insistence of its owner.

5km South of Gundagai I was driving and come up behind a b double overtaking another b double. Long story short, wind shear coming off the back of the truck caught the Cervelo and ripped it off the roof.  It was the most fascinating thing watching it slide along the Freeway at 110km/h.

Fortunately, aforementioned Cervelo owner was also the owner / managing director of one of the biggest regional based insurance brokerages in the country. He had his bike replaced very quickly  😎

Good luck with your claim!

This happened to my cervelo earlier this year.  I agree with it being fascinating watching it in the mirror I was transfixed..

 

Insurance wouldn't pay anything that was worthwhile paying excess for..

[willie 1,546]

1 hour ago, Shrek said:

Insurance company goes through bike insurance company that is based in Cronulla...same location as a bike shop

Insurance company tried to force hand that we go through that shop for replacement bikes upon providing the damaged ones...

🤔

Better half maybe blonde but knows her bike stuff and stood her ground with their dodgy tactics....took cash settlement without providing damaged bikes...🤔

I know someone who flight the good fight on that and won against them as well. 

I hate said shop and insurance company and just stay as far away as I can. Bought a Cervelo frameset and they tried to tell me the fork came cut so the stem was slammed on their "performance" models. I played dumb for about two minutes before calling the distributor. 

[monkie 1,211]

7 hours ago, roxii said:

Did you get photos?, or maybe get a stat dec from the bike shop stating the parts were damaged, unsafe, unusable and disposed of appropriately. 

This would be my advice as well. There's a safety angle "we removed the parts from the second hand market as they posed a threat to any new owner".

[trifun 446]

On 19/06/2019 at 11:48 AM, zed said:

By bike was totalled in an accident and I'm getting a new bike from my insurance. They said they wanted the bike for selling the salvageable parts. I stripped the bike and have given them all salvageable parts, the bike shop wrote off front wheel, forks, frame and front brake. They all went in the bin, the frame was almost bent in half. Now the insurance company is saying they need the broken bits too.... I'm guessing they are on the tip somewhere. Can they withheld payment if I don't produce the broken bits?

Generally with any insurance write-off, the item becomes the property of the insurer, basically, they bought the item from you for a pre-agreed price (the insured value). You can offer to buy the wreck back from them post payout (some policies give you the right of first refusal) - common in the specialist vehicle market. 

[zed 1,472]

Well they took my old wrecked bike and got a brand new one. Bit bizarre in the end. My bike was a 2012 BMC SLR01. Top of the range, as ridden by Cadel Evans on the tour, but only cost me $1400 as it's 7 years old. Anyway RAC refused to give me $$ for it and said they could only do a like for like i.e a new BMC SLR01. I would have been happy with $2k. Not complaining, but not sure what I'm going to do with a $14k bike! I certainly don't want to ride it. I guess I just hang it on the wall and look at it?

[roxii 6,475]

WOW!!! Happy days. 

Ill give you $2k cash for it    

Seriously, sell it for $10 k , buy a new bike and a holiday! 

 

[zed 1,472]

5 minutes ago, roxii said:

WOW!!! Happy days. 

Ill give you $2k cash for it    

Seriously, sell it for $10 k , buy a new bike and a holiday! 

 

ha ha I know I need to do that... not sure I can.

[roxii 6,475]

6 minutes ago, zed said:

ha ha I know I need to do that... not sure I can.

I know its the sensible thing to do. 

But Id just take it as payment for all this insurance premiums you have payed over the years and ride it and enjoy it. Great looking bike. BMC makes fantastic bikes, just too exxy.  

 

[nealo 1,657]

48 minutes ago, zed said:

Well they took my old wrecked bike and got a brand new one.

I thought the old bike was on a tip somewhere?

 

Great result!

[zed 1,472]

Just now, nealo said:

I thought the old bike was on a tip somewhere?

 

Great result!

It got fished out the tip!

[Ex-Hasbeen 7,468]

I was lucky enough to get cash for mine, but similar story in that I got payment for what the new bike would have costed, & I'd bought it  2nd hand for about 30% of that a year earlier. Next time I'll buy a more expensive brand.

[Bored@work 3,688]

I love my BMC.  I'm currently looking at getting another one.

[Bored@work 3,688]

What size is yours?

[zed 1,472]

8 minutes ago, Bored@work said:

I love my BMC.  I'm currently looking at getting another one.

What BMC have you got?

[zed 1,472]

8 minutes ago, Bored@work said:

What size is yours?

my TT bike (TM02) is small and SLR01 is 52cm.  I'm guessing that's a small too.

[more 438]

What value did you put for the bike on your insurance application? $2K or $14K? i.e were you paying premiums based on a $2K bike or a $14k bike?

Edited July 10 by more

[zed 1,472]

11 minutes ago, more said:

What value did you put for the bike on your insurance application? $2K or $14K? i.e were you paying premiums based on a $2K bike or a $14k bike?

Not sure about premiums. They asked me the age of the bike, the model and what they cost new. I even said I would be happy with $2k - $3k cash, but they insisted on doing a like for like. 

[Bored@work 3,688]

I have the 2020 SLR02 with Sram 12 speed.  It's awesome. I need a 56cm.

 

[zed 1,472]

2 minutes ago, Bored@work said:

I have the 2020 SLR02 with Sram 12 speed.  It's awesome. I need a 56cm.

 

Nice. I was getting the 2020 SLR01 4, but would have had to wait 2 more months, went with higher spec, Dura Ace 2019 instead. 

[more 438]

22 minutes ago, zed said:

Not sure about premiums. They asked me the age of the bike, the model and what they cost new. I even said I would be happy with $2k - $3k cash, but they insisted on doing a like for like. 

No I mean when you took out your insurance? With RAC you put in an agreed value yeah when applying? Ive been thinking about insuring my Cervelo and wondered if I need to put what I paid, or what a new one would cost?

[zed 1,472]

10 minutes ago, more said:

No I mean when you took out your insurance? With RAC you put in an agreed value yeah when applying? Ive been thinking about insuring my Cervelo and wondered if I need to put what I paid, or what a new one would cost?

No bike didn't even get mentioned on the policy. It's a basic home insurance policy. I think there was an agreed value of $30k for contents. 

[Peter 3,484]

46 minutes ago, zed said:

Not sure about premiums. They asked me the age of the bike, the model and what they cost new. I even said I would be happy with $2k - $3k cash, but they insisted on doing a like for like. 

Whos your insurance company?

[roxii 6,475]

17 minutes ago, Peter said:

Whos your insurance company?

He said RAC above.