Can anyone give me market value on a Yamaha O5 Reg R6 motorcycle 1,800 miles on clockGleaming As New.?
Bike was a total write of now insurance has come up with a daft figure, can anyone advise of a realistic market value, If I was replacing the bike from a dealer they are looking for £5,500 plus
Answers:
I used to value bikes and cars, market value (what the insurance has quoted you) is NOT the same as the price in a dealer.
Market value is more reflective of the price it would get privately, as a dealer price would include their mark-up, warranty, valeting charges etc.
You are looking at under £5500 as a market value, look in local papers for private sellers, Autotrader online is good, you can put in your bikes details, and it will search for any similar for sale. Take an average, print out all the ones you find to match, so you can start battling with the insurer about the value.
Your insurance company WILL look at any evidence you provide to them, if you have any photos showing its condition prior to the accident, this can help too.
If you are still unahppy with their final valuation, you can appeal to the insurance ombudsman, it costs nothing, the insurer pays for it, no matter what the outcome.
Keep copies of all the evidence you send to them.
Sorry, but I dont think you are going to get anything near £5500, but fight all you can with as much evidence as you can to get the best figure possible.
Hope this helps!