Originally Posted by
wahoonc
If the bike is truly totaled, get a price for the current equivalent replacement. If they balk, suggest that you are retaining an attorney to handle the ENTIRE claim, then do so if necessary.
A bike is worth the original purchase price to the original owner for as long as they choose to keep it. Of course it is not worth that should they want to sell it but for them, other than perhaps the value of tires/tubes and similar wear items, it's worth full value every time it is ridden. The insurance company should pay a fair full replacement value for the bike. If not, the mention of a lawyer to get a fair settlement plus legal expenses may encourage them to go with the fair settlement.
You might want to get an estimate on 2 or 3 new bikes that are appropriate replacements that you'd be satisfied with and offer the list to the insurer saying they can choose which one and you'll take 90% of the purchase price. A new bike for only 10% of the purchase price seems fair and makes up for the wear on tires/tubes, brakes, chain etc. on your old bike.
Good luck with it.