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Discussion Starter · #1 ·
Hi all,
It's insurance renewal time again, and I have my 2014 registered, 2004 model standard silver/black (the most desirable and valuable colour o_O) TRE (with 4400 miles) on an agreed value of £5000 (and has been for the last 3-4 years or so).
Any thoughts on if I should change it to a different realistic value, to match the market availability of a replacement bike - If the worst should ever happen.
Please note that I am NOT selling the bike and have no intention of, I've had her since 2016 and I'm the second owner.
Rgds, Les
 

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Hi all, It's insurance renewal time again, and I have my 2014 registered, 2004 model standard silver/black (the most desirable and valuable colour o_O) TRE (with 4400 miles) on an agreed value of £5000 (and has been for the last 3-4 years or so). Any thoughts on if I should change it to a different realistic value, to match the market availability of a replacement bike - If the worst should ever happen. Please note that I am NOT selling the bike and have no intention of, I've had her since 2016 and I'm the second owner. Rgds, Les
I have a riders policy. They insure your most expensive bike and you can add more for free. I use islands insurance. They are excellent. You can also ride another persons bike On the policy as it does not not exceed the of the biggest bike you Al have insured.
 

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Discussion Starter · #8 ·
Hi all,
Well, I've actually just renewed my multi-vehicle insurance with Footman James, and got quite a suprise when I discussed the value of my TRE with them.
They said that as my bike is classed as a "modern" bike, I cannot have an "agreed value" on it - they would only pay out (if the bike was classed as an insurance "total loss") at their classification of the "market value".
So I asked them what they had my bike (year, mileage, condition etc) listed as market value - they said that they had the bike market value at £9000!!!
So, they have changed my value from my estimate of £5000 (and had been for the last 3 years or so) to £9000, with a very tiny increase in my renewal cost.
Don't know if this is of any help to others, when you renew your insurance - or if your insurance company operates at the same valuation as FJ with me, but it opened my eyes.
PS I also discussed the values of my other bikes/cars that I have with them - I finished up by increasing nearly all of them, both agreed and market values, at a minimal increase in overall premium cost.
Rgds Les
 

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Hi all,
It's insurance renewal time again, and I have my 2014 registered, 2004 model standard silver/black (the most desirable and valuable colour o_O) TRE (with 4400 miles) on an agreed value of £5000 (and has been for the last 3-4 years or so).
Any thoughts on if I should change it to a different realistic value, to match the market availability of a replacement bike - If the worst should ever happen.
Please note that I am NOT selling the bike and have no intention of, I've had her since 2016 and I'm the second owner.
Rgds, Les
How much do you think a 06 tornado with 49000 miles on would be.
 
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