Bike was stolen whilst in for repair

[Bluegord1993]

So my 2020 Merida e160 9000 was in for a motor repair and the bike shop was broken into and everything taken, I bought the bike from the shop as ex demo so got it cheap, although now I cannot get a like for like replacement as the bike shop has valued it at what I paid and that’s what the shops insurance will pay, so I either get the spec below or fork out myself for decent stuff not to mention my pedals, grips, tubeless valves, bars, stem and phone and light mounts that were not put into valuation

do I have a leg to stand on??

 

[Marley]

That approach is not logical, you should be compensated the bikes value.
So....if you were gifted the bike or won the bike in a raffle and it was stolen from the bike shop then you'd receive nothing ?

I'm thinking the shop will receive it's value and pocket the difference.

 

[N9VNS]

Sorry to hear about that mate.

If you‘re car was stolen whilst it was in for repair at a dealership, you’d be given an amount of money to be able to buy a like for like replacement. Why should a bike be any different? Everything else should be covered under the valuation too. You should not be financially worse off because your bike was stolen from a dealership. Although you’ve lost your bike, unfortunately its their misfortune, not yours. The bike was in their care at the time of the theft. When they send a valuation to the insurers they should include the parts that were on your bike too.

 

[routrax]

It should be the cost of a like for like replacement, including the upgrades. If you've got pictures of it with the upgrades, that could help.

 

[Bluegord1993]

Sorry to hear about that mate.

If you‘re car was stolen whilst it was in for repair at a dealership, you’d be given an amount of money to be able to buy a like for like replacement. Why should a bike be any different? Everything else should be covered under the valuation too. You should not be financially worse off because your bike was stolen from a dealership. Although you’ve lost your bike, unfortunately its their misfortune, not yours. The bike was in their care at the time of the theft. When they send a valuation to the insurers they should include the parts that were on your bike too.

Yeah I’m not impressed, trying to give me the lesser model but if I had wanted it I would have bought it brand new as I paid the same amount for mine, I don’t want to be a prick to him as he’s in a shit situation aswell but at the end of the day it’s not my problem

 

[Bluegord1993]

It should be the cost of a like for like replacement, including the upgrades. If you've got pictures of it with the upgrades, that could help.

Yeah I told him I had a list of stuff and costs and he told me that he knew exactly what was on it, want to stand my ground but don’t want to be an arse at the same time

 

[Bluegord1993]

That approach is not logical, you should be compensated the bikes value.
So....if you were gifted the bike or won the bike in a raffle and it was stolen from the bike shop then you'd receive nothing ?

I'm thinking the shop will receive it's value and pocket the difference.

Yeah that’s what I’ve been thinking, I’ve gave him options on other bikes such as canyon or yt, great spec bikes but cheaper, as I’m not paying a penny

 

[routrax]

Yeah I told him I had a list of stuff and costs and he told me that he knew exactly what was on it, want to stand my ground but don’t want to be an arse at the same time

Getting back what you lost doesn't make you an arse. If you tried to profit from it you'd be heading in to that territory!

 

[Bluegord1993]

Getting back what you lost doesn't make you an arse. If you tried to profit from it you'd be heading in to that territory!

Yeah I get you, just put on the list stuff like brand new tyres, grips, pedals, and such like but he didn’t even want to see the list, I said that I’m basically up shit creek for getting the same spec and the reply was yeah for a new one you are ?

 

[#lazy]

IMO ( which stands for absolutely nothing ) the Bikeshop sold you a demo but would still have made a profit on it so they could order you another similar bike and say “ hi mate , sorry for all the grief . Here’s the same bike as before and just give us the same cash and we'll sort you out with some bits for it “!
As this wasn’t your fault and if they want future custom they should sort you out !

 

[#lazy]

If no luck NAME AND SHAME on here , Facebook , Twitter and so on !

 

[MrSimmo]

In the UK, the law is on your side - you should be offered a replacement of the same or better specification -or- money to the value of a similar specification replacement at current market rates.

This is exactly why they should have commercial lines insurance, to cover them in this scenario.

My suggestion is go back to them in person/via phone , if they decline then write to them asking for the same and state you are willing to take them to a small claims court if you need to.

 

[Bluegord1993]

Incase it comes up for sale

 

[paul-g]

is the LBS making the claim on your behalf?
if so get a couple of prices for the bike and extras
and submit it to them. (don`t let them badger you into
accepting uninsured losses) if not find our covertly who their insurers are
and make a claim direct.
if that doesn`t work take the LBS to court and list all the extras.
(these are your losses)
if they have only paperwork to the insurance company for the bike only they havn`t a leg to stand on

 

[Bluegord1993]

In the UK, the law is on your side - you should be offered a replacement of the same or better specification -or- money to the value of a similar specification replacement at current market rates.

This is exactly why they should have commercial lines insurance, to cover them in this scenario.

My suggestion is go back to them in person/via phone , if they decline then write to them asking for the same and state you are willing to take them to a small claims court if you need to.

Cheers mate, wasn’t sure if there was a law for it, don’t want to fall out with him but I don’t want to be out of pocket either.

 

[Bluegord1993]

is the LBS making the claim on your behalf?
if so get a couple of prices for the bike and extras
and submit it to them. (don`t let them badger you into
accepting uninsured losses) if not find our covertly who their insurers are
and make a claim direct.
if that doesn`t work take the LBS to court and list all the extras.
(these are your losses)
if they have only paperwork to the insurance company for the bike only they havn`t a leg to stand on

Yeah they are claiming off their insurance as there was 12 bikes taken, (I think mine being the only customer bike) going to get pictures and prices wrote up tonight

 

[Zimmerframe]

If no luck NAME AND SHAME on here , Facebook , Twitter and so on !

When it comes down to it, it's not the shops fault.

It ultimately should fall on the insurance company just to replace the bike no matter what the OP happened to pay for it.

The shop shouldn't suffer. The owner shouldn't suffer. That's why they have insurance.

 

[Rusty]

^^ @Zimmerframe nailed it.

As you have some great pics there can be no argument as to what was on your bike. Insurance company can bitch and moan all they like, but at the end of the day they have to pay out full value/like replacement.

If it was your insurance there would/could be clauses about wear & tear, requirement to list modifications etc but as it is notyour insurance you should be compensated in full.

 

[paul-g]

When it comes down to it, it's not the shops fault.

It ultimately should fall on the insurance company just to replace the bike no matter what the OP happened to pay for it.

The shop shouldn't suffer. The owner shouldn't suffer. That's why they have insurance.

quite true Zimm but as it reads the LBS are making an understated claim, and albeit for their bikes they will have all
the invoices to boot. ( won`t loose a farthing)
he should to be fair get an independent valuation and submit it to the LBS and not allow them to make their
own undervalued valuation.
if they will not accept this then go the other routes.
no friends in business.

 

[Pigin]

The whole idea of insurance is to indemnify you. In essence you need to be compensated to the exact value of the whole item. Like for like, not more and not less. That value is obviously adjusted for age, wear and tear unless the cover provides for “new for old”.

The shop simply lists your bike on the claim and should then ask you to provide receipts. On occasions it’s not possible for the insurance company to provide you with the exact same article, think one offs or items that are no longer made.

You had a contract with the shop not it’s insurance company. It’s up to the shop to compensate you not the insurance company. If they are being awkward you have various avenues of recourse. You could use trading standards, your own house insurance perhaps or the small claims court.

Ask for details of the insurance company and loss adjuster so that you can make your own claim.

They are obviously having a rough time but they are in the business of customer service and if they wish to continue trading with a growing rather than diminishing consumer base they need to step up. They might just be snowed under with doing the inventory so offer to help by doing yours for them.

Hope it helps a little.

 

[Bluegord1993]

The whole idea of insurance is to indemnify you. In essence you need to be compensated to the exact value of the whole item. Like for like, not more and not less. That value is obviously adjusted for age, wear and tear unless the cover provides for “new for old”.

The shop simply lists your bike on the claim and should then ask you to provide receipts. On occasions it’s not possible for the insurance company to provide you with the exact same article, think one offs or items that are no longer made.

You had a contract with the shop not it’s insurance company. It’s up to the shop to compensate you not the insurance company. If they are being awkward you have various avenues of recourse. You could use trading standards, your own house insurance perhaps or the small claims court.

Ask for details of the insurance company and loss adjuster so that you can make your own claim.

They are obviously having a rough time but they are in the business of customer service and if they wish to continue trading with a growing rather than diminishing consumer base they need to step up. They might just be snowed under with doing the inventory so offer to help by doing yours for them.

Hope it helps a little.

Cheers, as I said I offered him a spec list/prices the day after being told about my bike, and was told that he already knew the spec, although everything I bought had been fitted myself so he didn’t know everything, I said there is no rush as I know it’s difficult times for him but I’m £6200 out of pocket at the minute, where he will definitely get all his losses reimbursed

 

[Zimmerframe]

Whatever happens.. Bike prices are up. You had a hot bike. You want the same or equivalent hot bike as the circumstances are not our fault.

The shop needs to claim accordingly to replace said "hot bike" for the same "hot bike" .. if it's 2 months old or 12 months old, you want your hot bike. For me, I'd want the same bike/equivalent bike bike and I see no reason why there should be any friction here ?

Based on this being the OP's first post there's obviously some frustration and desperation and I'm sure we could all relate the the same situation. But a the same time hopefully this is just a fluid situation between the shop and the insurance company and therefore introducing uncertainly , understandably, for the OP.

Obviously if they are taking the pee, then the situation would be somewhat different.

 

[Bluegord1993]

Whatever happens.. Bike prices are up. You had a hot bike. You want the same or equivalent hot bike as the circumstances are not our fault.

The shop needs to claim accordingly to replace said "hot bike" for the same "hot bike" .. if it's 2 months old or 12 months old, you want your hot bike. For me, I'd want the same bike/equivalent bike bike and I see no reason why there should be any friction here ?

Based on this being the OP's first post there's obviously some frustration and desperation and I'm sure we could all relate the the same situation. But a the same time hopefully this is just a fluid situation between the shop and the insurance company and therefore introducing uncertainly , understandably, for the OP.

Obviously if they are taking the pee, then the situation would be somewhat different.

Yeah mate, wanted second opinions, the shop said that rest assured they would replace my bike or reimburse me, the way it stands is I want my bike replaced as the reason I bought the ex demo as it was the spec I wanted, and now the 2021 models are out and Covid buying every bike possible, I won’t get a good deal like that again, all for some scum to steal it and send me back to council spec bikes

 

[apac]

Yeah they are claiming off their insurance as there was 12 bikes taken, (I think mine being the only customer bike) going to get pictures and prices wrote up tonight

Insurers will want receipts

 

[Bluegord1993]

Insurers will want receipts

Got most receipts but as for the bike I paid less than rrp as was an ex demo, but if I had won it on raffle or competition for likes of a £2 ticket would I be given the like for like bike or £2, as my argument with the shop, if I had bought it else where and was getting warranty done from them then they would value the bike at replacement value, and the claim will be high anyway so an extra £1200 will not affect it whatsoever

 

[apac]

Got most receipts but as for the bike I paid less than rrp as was an ex demo, but if I had won it on raffle or competition for likes of a £2 ticket would I be given the like for like bike or £2, as my argument with the shop, if I had bought it else where and was getting warranty done from them then they would value the bike at replacement value, and the claim will be high anyway so an extra £1200 will not affect it whatsoever

The insurer will want the receipt of purchase as proof of ownership And loss.

 

[paul-g]

Got most receipts but as for the bike I paid less than rrp as was an ex demo, but if I had won it on raffle or competition for likes of a £2 ticket would I be given the like for like bike or £2, as my argument with the shop, if I had bought it else where and was getting warranty done from them then they would value the bike at replacement value, and the claim will be high anyway so an extra £1200 will not affect it whatsoever

one little word of advise to finish
keep all communications with the LBS (or insurers)in hard copy thus
creating a paper trail, try not to communicate verbally, and remember date
all items and request or ask they do the same.
this paper trail will stand you in good stead if you decide to
go down the litigation route at a later date if no solution
is reached.

 

[flash]

The insurer will want the receipt of purchase as proof of ownership And loss.

Based on that you wouldn't be able to insure a bike you bought off a mate or without a receipt. UK might be different but here photos or even boxes with serial numbers are more than enough to establish *proof*.

Gordon

 

[Mikerb]

I admire the optimism of some guys here but my fear is the insurance company will only reimburse the loss assessor's estimated value of the bike. That will not be it retail price, demo or not, and it will consider it used. Yes they should account for non standard items added to the bike but I fear the insurance company will also consider those items to be used.
Your best bet may well be to secure a deal with the shop owner who can at least provide you with a bike at cost or heavily discounted without loss to himself other than perhaps losing one of his allocation of new bikes.

 

[#lazy]

I admire the optimism of some guys here but my fear is the insurance company will only reimburse the loss assessor's estimated value of the bike. That will not be it retail price, demo or not, and it will consider it used. Yes they should account for non standard items added to the bike but I fear the insurance company will also consider those items to be used.
Your best bet may well be to secure a deal with the shop owner who can at least provide you with a bike at cost or heavily discounted without loss to himself other than perhaps losing one of his allocation of new bikes.

Basically what I said !