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Insurance claim(4 posts)

Insurance claimTrux Simmons
Aug 26, 2001 7:45 AM
Last month I crashed (trashed) by beloved 24 year old Libertas. Actually I was struck by a car on my way to work. It was a classic. A 1977 Belgium built road bike. White Reynolds 531 frame with all black anodized Durace groupo. The front fork and wheel were crushed but the bike shop says the bike's totaled.

Anyone have experience with an insurance claim? Can I demmand a new bike of comparable value? Also, where can I find a replacement chrome-molly European front fork?
re: Insurance claimLone Gunman
Aug 26, 2001 9:22 AM
Ted, Start surfing the net for parts or whole bike for that matter. I typed in 1972 Schwinn Paramount and came up with a host of bike restoring companies, folks who cruise garage sales and buy and scavange old bikes for parts, or buy on the internet. You may be able to sell your wreck
re: Insurance claimCliff Oates
Aug 26, 2001 10:32 AM
You can demand a check for the amount the bike is worth. The question is, how much is that? Sheldon Brown's site has a very generic answer to that question here. Your LBS could probably produce a better estimate. Basically, it will come down to you and the claim adjuster sitting in a room and agreeing on a number that you're both comfortable with. The more evidence you can produce to support your number, the easier the process is.
re: Insurance claimMCCL
Aug 26, 2001 6:14 PM
I am currently going through the same mess you are going through. I have a 1 of 100 made bikes that is over 10 years old. One thing to do is check your homeowners policy. If you were clever when you bought this policy you had them put in a REPLACEMENT Clause. This will protect you when you are hit, our some other misfortunes happens to your bike. What this does is tell your insurance company that if your 30yr. old Sony TV goes through a fire it will be REPLACED with a new Sony TV minus the deduct. There is no PRO-RATING. This is my second incident and both were not my fault. The first one I recooped my deduct because the owner of the vehical at fault had insurance. But neither insurance companies could PRO-RATE a thing. Mine or Their's. So this will only work if you applied this in your policy. Lesson for all and I don't know if it works for renters insurance but do check into it. I have State Farm and I am not here to pro or con them but I have been here and back again. I just submitted my claim at $3400.00 to replace my bike at today's cost. It will be interesting but this is what I pay my premimums for. Coverage. A word to the wise is call your agent up and see if your bike is covered under you homeowners and see if you have replacement or what it will cost to have this put on your policy. For some of us our bike is just a extension of us and also a prime ride to work. Protect it. Good Luck MCCL