SOHC.co.uk Forums > CB500/550

Insurance Value?

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s35will:
Hello all,

This is my first time posting...Hi! I've recently bought a 1977 CB550F with 30,000 miles on the clock. I'm not sure how much it is worth when it comes to filling in the insurance forms and wondered if anyone can help? I'll post some pics of it so you can see the general condition. This is my first classic bike that i have owned.

SteveD CB500K0:
Unless there is something irreplacable about the bike (sentimental value or concourse restoration for example), just use what you paid for it.

The idea of insurance being to enable you to get back to where you were before the "incident"

Steve

s35will:
Yea I understand what you are saying Steve, I've done that with my other bikes that I have owned in the past. However I won this bike on ebay and the guy I bought it off said I got a real bargain and said it was worth a lot more. If the bike was ever stolen, the idea of insurance is to claim back the amount it would cost to replace the bike, like for like, rather than recoup the original cost. I doubt I would be able to buy the same bike at the same price again, hence asking for a rough valuation. Like I said, I appreciate what you are saying as that is what I have done in the past.
Cheers
Will

mick:
Hi Will, welcome to the forum  ;), if your not sure how much your bike is worth why not have a look in some of the classic bike magazines for sale section and maybe some websites with bikes for sale,

may help you gauge the condition of your bike compared to others and give you an idea what yours is worth ?, good luck cheers Mick.

s35will:

--- Quote from: mick on May 25, 2011, 10:57:36 AM ---Hi Will, welcome to the forum  ;), if your not sure how much your bike is worth why not have a look in some of the classic bike magazines for sale section and maybe some websites with bikes for sale,

may help you gauge the condition of your bike compared to others and give you an idea what yours is worth ?, good luck cheers Mick.

--- End quote ---

Hi Mick, cheers the welcome fella. Yea will give that a go, had a little look last night but only found a fully restored one on the car and classic website. Looks like a litte trip to the newsagents is in order. Need to get this insured before the weekend ha!

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