Bike was stolen whilst in for repair

[Rusty]

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

According to my friendly insurance agent @Bluegord1993 should not have to provide reciepts. The bike shop has acknowledged his bike was one of them stolen and he has pictures to show how it was kitted out. Doesn't matter if he paid full retail or got 50% off in a fire sale - how the bike was presented to the shop and what was on it have to replaced with kind.

Y'all need to forget insurance assessors and all that tripe - this is not his insurance paying but the bike shops insurance. If the bike shop is stiffed by their insurance company that is their problem. Anyone familiar with the GB Consumer Guarantee act can confirm this.

 

[Bluegord1993]

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.

How can the insurance determine the condition of the bike and parts when it’s not there? Like phone insurance if you loose your iPhone 12 and the insurance give you a like for like replacement and not a Nokia 3310

 

[Bluegord1993]

Tell them you will employ a loss adjuster unless they act fairly. they hate those people.

Also its not what you paid its what the bike is worth. The two are not the same thing.

Spoke to citizens advice and basically he can value it at what was paid as it’s classed as second hand even if I had bought it brand new it’s classed as second hand and as long as it’s fair market value ?

 

[Ryan]

Spoke to citizens advice and basically he can value it at what was paid as it’s classed as second hand even if I had bought it brand new it’s classed as second hand and as long as it’s fair market value ?

If you have receipts for the extras he can value the bike at what he wants but he’ll also have to reimburse you for the other accessories stolen. I’d do what others have suggested though and get your own valuation.

I asked my partner about it, who works in insurance, and she said the easiest would be to claim on your own insurance (if you’re covered).

I get that you’re trying to be a nice guy here but liability lies with the bike shop. If they weren’t insured, that isn’t your problem. sounds like you’ll have to stand your ground a little more and add up the accessory costs.

 

[04fuxake]

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??

I would have thought what you paid for it was irrelevant in the valuation of the replacement. What if you'd won it as a prize?

 

[Bluegord1993]

I would have thought what you paid for it was irrelevant in the valuation of the replacement. What if you'd won it as a prize?

Yeah my point exactly, it’s a shitter no matter what way it goes, if the same were to happen again after if I accept the lower model then I would be given the value of the ex demo lower model, and if for say it happened multiple times I’d be left with a £5 voucher ?

 

[#lazy]

I would just tell him I want the same or equivalent bike , didn’t care how u do it just do it as it’s your responsibility and I won’t except anything lower , thank you !
A demo bike will come with a full guarantee from the date you bought it so should be classed as a new bike !

 

[Bluegord1993]

Yeah full warranty from the day I bought it, have told him I want the same spec or same bike, is offering the 8000 model and some cash, but that’s the current demo, if I wanted that spec I would have bought one new for the same as I paid for my 9000, it’s doing my head in haha

 

[steve_sordy]

Challenge the insurer to find a replacement.

 

[Doomanic]

The insurer has a contract with the shop, not the OP, and almost certainly won't entertain any claims direct from the customer. The Op's claim is on the shop and what the insurance company do is irrelevant. However, if the OP has to resort to Small Claims, he will have to provide proof of what it cost to buy, not what it will cost to replace, so that should really be a last resort.

 

[Bluegord1993]

The insurer has a contract with the shop, not the OP, and almost certainly won't entertain any claims direct from the customer. The Op's claim is on the shop and what the insurance company do is irrelevant. However, if the OP has to resort to Small Claims, he will have to provide proof of what it cost to buy, not what it will cost to replace, so that should really be a last resort.

I’ve spoke to citizens advice and all them and they say try and sort something decent with the shop although he is well within his rights to claim what I paid although being a customer and second e bike bought from himself, I would like to think a deal where both myself and him are not out of pocket,

 

[Doomanic]

Don't get me wrong, I think your situation sucks, and he is being a bit of an arse about it. The insurance will only pay trade price on the stolen goods anyway, so getting pissy that you bought a demo bike when he's going to get the cost price of a new bike is out of order. He's trying to get you to accept one of the other demo bikes he has in stock, yes? So he gets to trouser the money he'll get from the insurance company for your bike. You need to stand your ground, but flaming a bike shop that's been burgled probably won't end well. Good luck.

 

[Bluegord1993]

Yeah that’s basically what’s going on, I’ve said I’ll pay a couple hundred to get what I had but that’s only if it comes exactly the way I had my one, so I think I’m being fair, I’m not phoning all the time and said not to rush as it’s neither his fault or mine but he is the claim maker and I’m sure the other bikes that were stolen (all in house bikes) will be valued accordingly, going in on Saturday to see what the crack is, yeah not one to name and shame or be nasty but won’t be taken for a mug either

 

[steve_sordy]

You are being very reasonable, too reasonable. He probably believes that if he sits tight you will accept the deal, especially with better weather approaching. Crank up the pressure, he has to believe that you are not going to give in. He has to believe that the easier option is to do the right thing.

Don't forget that bike shops have not lost out through the pandemic, quite the reverse; they have done very well indeed. All bikes are sold and all the old bikes from behind the shed came in for repair.

 

[Bluegord1993]

E160 9000 2020 ex demo for Merida sales man on its way to me apparently, depending on miles and condition it will be staying where it is,

 

[paul-g]

E160 9000 2020 ex demo for Merida sales man on its way to me apparently, depending on miles and condition it will be staying where it is,

this seems strange to me
you`ve been offered same bike, same model, same year, and same ex demo but you seem to have
made your mind up pre execution.(no indication of mileage on here correct me if i`m wrong)
why did you not wait until you had seen the replacement (which you wanted in the first place)
before informing the good people on here who have given their good willed advise what your
intensions may be .
are you really wanting a replacement or a new bike

 

[Gary]

NAME AND SHAME on here , Facebook , Twitter and so on !

Name and shame a business that has just been broken into causing who knows how much damage to the business and property and probably had most of it's stock stolen?

Really?

Wow. Talk about kicking someone when they are down.

please have a word with yourself, eh?

 

[Bluegord1993]

this seems strange to me
you`ve been offered same bike, same model, same year, and same ex demo but you seem to have
made your mind up pre execution.(no indication of mileage on here correct me if i`m wrong)
why did you not wait until you had seen the replacement (which you wanted in the first place)
before informing the good people on here who have given their good willed advise what your
intensions may be .
are you really wanting a replacement or a new bike

This information I got today, no mention of miles or condition, as mine had 350miles and was immaculate so, if the replacement is not in as good condition and same or less miles why should I accept it? Or are you grabbing at the wrong end of the stick? Not made my mind up what so ever

 

[Gary]

Hope you can come to an amicable agreement with the shop @Bluegord1993
Please do bear in mind just how stessful this situation is for all concerned though.

 

[Bluegord1993]

Hope you can come to an amicable agreement with the shop @Bluegord1993
Please do bear in mind just how stessful this situation is for all concerned though.

Yeah as I said to the shop when he told me about it,” no rush just get yourself sorted out before worrying about my bike” as neither the shops fault or mine, just have to get on with it,
Second shop in the last 2 weeks within 40odd miles (both being very rural shops) I’m in no hurry for a replacement due to work commitments, but nice to know what’s happening ???

 

[Gary]

Oh... and please take the advice of replys on here with a pinch of smelling salts. I doubt many of the replys have even a vague understanding of how the shop is run nevermind the finer details of it's insurance policy or what it actually covers

 

[Gary]

Second shop in the last 2 weeks within 40odd miles (both being very rural shops)

Ah.. thought it might be.

Shit time for all of you

 

[paul-g]

This information I got today, no mention of miles or condition, as mine had 350miles and was immaculate so, if the replacement is not in as good condition and same or less miles why should I accept it? Or are you grabbing at the wrong end of the stick? Not made my mind up what so ever

not having a poke, just thought it would have been better for you to have a look first then report
your findings, not the other way round
seemed to me a bit of good news being so quick

 

[Bluegord1993]

not having a poke, just thought it would have been better for you to have a look first then report
your findings, not the other way round
seemed to me a bit of good news being so quick

Yeah hopefully is decent and I can get it, just zero info on it now apart from will be serviced, so fingers crossed it’s in good condition

 

[paul-g]

Yeah hopefully is decent and I can get it, just zero info on it now apart from will be serviced, so fingers crossed it’s in good condition

yes have a look if ok then git into their ribs for the extras

 

[urastus]

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.

Insurance is a business to make money and nothing else. They do whatever they can get away with, even if it is illegal - chances are clients won't chase it up; if they do, insurance just pays as they should have anyway. If they can find a way not to pay, they will. Doesn't history attest to this?

 

[Pdoz]

Sounding much more positive - the shop and merida have tried very hard to make up for being stuffed around by thieving scumbags ( the insurers) . Hopefully the bike will be close enough to your expectations and help forge a relationship with an lbs. Mates rates add up when the lbs and you look after each other

 

[urastus]

how the bike was presented to the shop and what was on it have to replaced with kind.

Doesn't this depend on the policy? The policy could be anything; eg 50% of retail value. Ultimately does the bike shop accept responsibility for the loss? Is it their fault?

 

[Rusty]

Ultimately does the bike shop accept responsibility for the loss? Is it their fault?

Not sure about the law in GB, but in NZ & Australia they are requir3ed by law to have coverage for customers property in for repair. Most statesin America too.

 

[#lazy]

Name and shame a business that has just been broken into causing who knows how much damage to the business and property and probably had most of it's stock stolen?

Really?

Wow. Talk about kicking someone when they are down.

please have a word with yourself, eh?

If you read the thread I stated other routes and if no luck ( as a last resort ) name and shame ie give a bad review .
I have know issue with that , have you ?