When you insure a bike or bikes with Bikmo, you enter the value of the bike when you register it. Should the need arise to make a claim, you will be covered for a replacement bike provided that the sum insured is enough to cover the cost of replacing it with a similarly spec’d bike at today’s prices.
This means you can replace a 10 year old bike that was worth £1000 with a new bike of an equivalent specification.
NEW FOR OLD CASE STUDY
Betty had a classic hybrid bike that she used daily for commuting and getting to the local shops. One day, after work she came to collect her bike and saw that thieves had cut the lock and pinched her bike. Being an irreplaceable frame with components from 15 years ago, she wasn’t sure she’d be able to get a replacement bike through her insurance.
Luckily, Betty had taken out a policy with Bikmo, so she was able to get a new bike with an equivalent specification and get back to riding in no time at all. While the original bike couldn’t be directly replaced due to it being over 15 years old, Bikmo were able to source a similar bike within her budget that she was more than happy with.
I have a classic bike that’s not made anymore; am I covered?
Yes, we can replace your bike with a similarly spec’d new bike, provided the sum insured is sufficient to cover the cost of a replacement bike at today’s prices.
What age limit is there on a new for old replacement?
There is no age limit on bikes that can be insured and replaced.