Page 1 of 1

Is my Ariel under insured ?

Posted: Mon Feb 05, 2018 6:59 pm
by Mickypic
5FCB7A5C-084D-4DE2-8B07-2C1E5D837E28.png
Andy Tiernan has just sold this 1948 VH for £9200 which started life as a VG. Second pic is of my 1949 VH which I have an agreed value of £6000 should I up it to £9500 ?
Cheers Micheal

Re: Is my Ariel under insured ?

Posted: Mon Feb 05, 2018 8:41 pm
by robjameson
I would increase it!

My ‘57 VH is agreed at £7000

Re: Is my Ariel under insured ?

Posted: Tue Feb 06, 2018 10:15 am
by iansoady
Do you know he actually got £9,200 for it? The Sunbeam I had from him was originally at £7,000 but I paid £5,000.

And he is not known for under-pricing his bikes. Having said that, £7,000 would not be unreasonable.

Re: Is my Ariel under insured ?

Posted: Tue Feb 06, 2018 7:56 pm
by paul.jameson
If you over insure your bike you will pay more in insurance - perhaps £50. If you under insure and need to claim, the claim will be settled as a percentage of the figure it was insured for - so perhaps you could lose £5000. You pays your money and you takes your choice.

Re: Is my Ariel under insured ?

Posted: Wed Feb 07, 2018 11:40 am
by iansoady
The differences in premium for different values with Peter James are minimal unless we're talking about Brough Superiors and the like.