Having finally moved into new house and got my 1997 916 sps back from its loooooooong restoration I thought better inform insurance company my address has changed. Noticed my agreed value is £12k and thinking should probably up this, but really have no idea what it would cost to replace? Any thoughts, comments or abuse appreciated Thinking maybe £17/£20k??
Cheers, insurance company always put me on the spot on phone. Last time took a stab at what I thought it would stand me after restoration & was a good few quid out as usual!!
Explain to them why you think it's worth that amount of money, also be comfortable with the market values and your own personal motorcycle condition.
To be fair, even with 53k km on clock it's in fantastic condition. MOT guy couldn't believe how clean the frame & engine is, he thought speedo had been changed. Other than engine, everything been refreshed and renewed. A SP2 went for bonkers money recently, so I'm probably being quite realistic with my guess.
Can’t you have it professionally appraised ? Over here, there’s no such thing as « agreed value ». You must get a professional appraisal to your insurance company. And in most instances, the value is valid for a couple of years only, based on your contract. FWIW, I got my 916 SP3 appraised last may and the value given was 23.500€. So for the next 3 years, that’s what my insurance company will use as replacement value. (Edit: bike had 3000 miles on day of appraisal.)
Sorry Kevin, i didn't realise it had 53k on the speedometer, that certainly will change the value for a less sum in my opinion regardless of that auctioned bike.
Think the mileage will massively impact the value. 18k is considered high mileage for these (crazy as it is bearing in mind they are 26 years old!) so it would be difficult to replace like for like.
First owner did 30k miles in first couple of years. I wanted a higher milage bike as thought it'd encourage me to use it more.
It's mental the milage thing over here, my sps is coming up to 23k miles and people say shame about the milage.
Think as time goes on it'll be less of a issue, I've also had way more problems with low mileage bikes that have never been used in anger. Even mines only done about 1300 miles a year.
I've the same problem with mine these days, the more you rack up the mileage the harder they're to sell at a later date, my attitude has changed a little these days and i have accepted it is what it is & enjoy the rides out before it's too late. When you come to sell you get what you get, but you'd some fantastic memories on a wonderful iconic brand.
I've just got a agreed value of £20k, think it'd be a tough gig to find another 97 full stop. All this is subject to me filling in & submitting pics etc for there agreement. Cost another £75
