insurance

[colinv]

How do you guys value your K2 carbons for getting an insurance quote, as I'm a bit unsure what to say its worth.

[Ionit]

Sorry I never insured my bike.

I' ve never been worried that anyone would take it.
I guess I should. I read an article about bike theft in theToronto Globe and Mail over the weakend . It seems when one has his/her bike stolen it is rarely found. costing insurance brokers thousnads per item. Or like one persone said "I never claim them anymore I just buy a new one."

But if I were to guess.  I would say $2000 US. Assuming that it is in good condition and has a pssibility to sell for that price.

PS. colinv I Just bought a Digital camera today and will be taking pictures of 4500 carbon with some stickers I made.
Sorry for the wait.
I found out that scanning them made them to hard to see.

[Shaggy]

Well, I had the unfortunate experience of having a bike stolen...but unlike most, I actually got mine back.  The whole deal made me think a bit and make sure that everything is insured (that particular bike wasn't at the time-I'm lucky).
Check the policy or with your agent, some types will cover the full value of the bike (as new) while some cover the depreciated value, so you'd only get the current value.  (I'm only partially sure as to the complete validity of that, anyone care to verify?).  My renter's insurance policy covers the full value, so I never had to worry about it.  I just quoted what it cost me to build the bike...

[Simon]

If I was to insure my 4500 in the UK I'd be looking at around £1500 to £2000,It may not be the market value of the bike but its what it would cost me to replace that bike with a similar quality and spec bike,I'd  have to take into account that on a claim I'd be unable to get like for like as this model is no longer produced.
Simon.

[colinv]

cheers Simon, that was about what I was thinking, as all of the insurance companies  want a value of my bike before they will give me a quote, best so far £151 and it covers accidental damage, but needs to be locked with one of their approved locks

[4500c]

cheers Simon, that was about what I was thinking, as all of the insurance companies  want a value of my bike before they will give me a quote, best so far £151 and it covers accidental damage, but needs to be locked with one of their approved locks

On a related note, I'm not sure if you guys have heard, but Kryptonite U Locks can be picked with a ball point pen.

http://www.chron.com/cs/CDA/ssistory.mpl/business/2799614

[Carbon_Angus]

If you insure the bike for Replacement Cost (RC), then you will get just that. You won't get a "new k2 Carbon" bike obviously, but you would get something of "like kind and quality" As an example, if you paid $3500USD for it years ago and it was stolen or some other covered cause of loss, then you would get a $3500USD or so valued "similar bike", less any deductible.

If it is insured for Actual Cash Value (ACV) then you'd get what the market bears, ie Ebay or some other way of determining it's ACV, less deductible.

If you insured it for RC but decided not to replace it then you would get the ACV amount for the bike, less deductible.

I don't know what the differences between US policies and UK policies. There certainly may be some subtle differences.

This doesn't actually address your but hopefully gives you some knowledge to make a decision.

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