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Bike Valuation, Insurance Purposes.

Discussion in 'Businesses and Service Providers' started by Big Chris, Aug 27, 2007.

  1. Hi all,
    This is a follow up to me getting knocked off my bike by a Commodore last week.
    Initial assessment is a write off due to damage.
    Second assessment tomorrow.

    Does anyone know how an insurance company determines the value of a bike?

    Thanks in advance
  2. Depends on the policy - agreed or market value
  3. .........
  4. Hey guys,
    looked at redbook,

    Red Book Code HOND99SN
    1999 HONDA CBR900RR919

    Cycle Road Manual 6sp 900cc
    Trade in price guide* $5,400 - $6,400
    National average price - private sale* $7,800 - $9,200
    Price when new (RRP) $15,990

    * Trade-In Price Guide assumes that the bike is in average condition with average kilometres.

    * Private Sale Price Guide may be different to a dealer's retail price because the dealer prepares the bike more thoroughly, both mechanically and aesthetically, and provides a consumer warranty

    So next question,
    Any Idea what the average km's per year is for a bike?
    I think an average uasage for cars is 15,000 km per year.

  5. .........
  6. Thanks MG.

  7. Hi all,
    just did an online insurance quote with insuremyride,
    they would give a market value of $8700 for a 1999 CBR 900 RR,
    with average kms.
    Insurance premium of $550 per year.

  8. .........
  9. Yeah the quote was good,
    now I just need a bike,
  10. .........
  11. .........
  12. Hey,
    Thanks again MG,
    knowledge is power,
    I know what the Glasses price range is and what the definition of good condition is,
    the top price on Glasses is middle of the range for the RedBook prices for private sale.
    Will have to start looking for a CBR900RR with Aftermarkets Exhaust, luggage Rack, and Tank Cover.
    For a price comparison, to see what it will cost to replace my baby.

  13. Hey all,
    got the internet hooked up again at the new place,
    Spoke to the insurance company on Friday,
    they are putting a market value of $8000 on my bike,
    Which I guess is pretty good,
    was in good condition, not showroom though,
    as was an every day rider, and had suffered some deteration.
    Might throw a bit of cash in and get a newer one.



    ps They are paying for my jacket, helmet, clothes, and towing as well.