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Hit by car, insurance tries to pay depreciated value for the bike

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Hit by car, insurance tries to pay depreciated value for the bike

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Old 06-20-21, 06:44 PM
  #126  
agenkin
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Originally Posted by Daniel4
My forty-two year old bike is probably worth $10 on the market. To me, it's not the material value that matters. It's the utilitarian value. If I were compensated with $10, it'd be too much effort looking for a replacement at that same price.
That's the thing, with cars there is a vast secondary market where you can get a replacement for mostly every model/year combination of a car, easily available. Good luck finding the same model and size of your bike on the used market. You simply cannot buy it used, most of the time, and the only real way to get the same bike is to buy new. The cash value of a used bike is very far detached from its replacement value.
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Old 06-21-21, 10:38 AM
  #127  
cjs9
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I was offered a few weeks rental of a "city bike" while I try to replace mine.. brutal. The type where you tap your credit card and pay by the hour. I told them I'd accept if the adjuster was able to ride 100+ KM on it without injuring themselves
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