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Replacement value

Old 02-02-21, 04:00 PM
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Greg315
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Replacement value

I am hoping some of you experienced bike enthusiast out there can help me out. For insurance purposes I need to know what it would cost to replace a 2001 model Cannondale F400 and a Giant Boulder 4130 CroMo I believe its also from around the 2000 model year. My insurance will pay to cover the equivilant of those bikes not just what you could by that bike on ebay for. I greatly appreciate any and all thoughts that you may have.
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Old 02-02-21, 04:08 PM
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They're gonna give you full new value for 20 year old bikes?

Who's your insurance company?
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Old 02-02-21, 04:18 PM
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Is this? https://www.subito.it/biciclette/gia...-366090361.htm
Tell me more about the cannondale , some months ago i found an f400 (or f500) with vbrakes and deore xt with a fatty fork for 150 euros.
But i don't know if we are talking to the same bikes , obliviusly if your insurance pays you can always pay the card "they are rare" to improve the cost.
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Old 02-02-21, 04:28 PM
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Glenn my insurance is a replacement cost policy not a cash value policy. Thatís why they will pay to replace a 20 year old bike with today equivalent. Just need to know what todayís equivalent is. My insurance is thru Farmers Mutual
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Old 02-02-21, 04:35 PM
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You'd be best trying to find something that's a suitable replacement and showing the insurance company the price list for those.
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Old 02-02-21, 04:58 PM
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Now that jingle is stuck in my head.
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Old 02-02-21, 05:10 PM
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Originally Posted by Greg315 View Post
I am hoping some of you experienced bike enthusiast out there can help me out. For insurance purposes I need to know what it would cost to replace a 2001 model Cannondale F400 and a Giant Boulder 4130 CroMo I believe its also from around the 2000 model year. My insurance will pay to cover the equivilant of those bikes not just what you could by that bike on ebay for. I greatly appreciate any and all thoughts that you may have.
Iíd say to look at the Cannondale SE3 or SE4. It would be hard to say which is closer to the F400 but either on is similar.

Originally Posted by Greg315 View Post
Glenn my insurance is a replacement cost policy not a cash value policy. Thatís why they will pay to replace a 20 year old bike with today equivalent. Just need to know what todayís equivalent is. My insurance is thru Farmers Mutual
I have replacement insurance as well. Iíve used it twice. After the first time, I started keeping a detailed spreadsheet on all of the components I use. The second a bike was stollen, I had a list of all the components. I also keep a file (electronic as well as hard copy) of the major parts of the bike so that I could prove to the insurance company what was on the bike.
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Old 02-02-21, 06:26 PM
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Email the oem for the retail price.
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Old 02-02-21, 07:15 PM
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Don't forget accessories like pedals, bottle cages, racks or other items changed from OEM. I went as far as seat bag, multitool, pump etc when filing a claim.
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Old 02-02-21, 07:56 PM
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You're going to need to prove to the auditor what the market value of the bike. Easiest way would be to find 3 "completed" ebay auctions and present all three. The auditor should take the average price of all three.
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Old 02-03-21, 12:45 AM
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Originally Posted by dedhed View Post
Don't forget accessories like pedals, bottle cages, racks or other items changed from OEM. I went as far as seat bag, multitool, pump etc when filing a claim.
Thatís where my spreadsheet idea helps. I keep an up to date list of accessories and upgrades. I keep a running total as well but I donít show that to the insurance company...nor my wife!!

Originally Posted by masonv45 View Post
You're going to need to prove to the auditor what the market value of the bike. Easiest way would be to find 3 "completed" ebay auctions and present all three. The auditor should take the average price of all three.
Greg315ís insurance (if it is anything like mine) is replacement value, not market value. He needs to know the value of an equivalent 2021 bike. The suggestions I made reflect the level of componentry found on the F400.
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Old 02-03-21, 06:39 AM
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When this happened to me, I went to a bike shop and let them do all the work. Go to a Cannondale shop and let them write up the estimate and the same for the Giant. When it comes from a some what trusted source, the insurance companies tend not to fight as much. Good luck.
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Old 02-03-21, 06:42 AM
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Thank for all the replies I greatly appreciate all of them. I think my best bet will be to go to a Cannondale and Giant dealer and have them write me up a replacement value slip. Thanks again for everyone's thoughts. Have a great day!
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Old 02-03-21, 09:13 AM
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Originally Posted by indyfabz View Post
Now that jingle is stuck in my head.
We are Famers, bombadombom bom bom bom... Dang it, me too!
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Old 02-03-21, 06:03 PM
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I agree about going to a brand's dealer. There are games you can play if market value is in question; I got a good bit of money for a stolen bike by pricing the parts separately. For replacement, the dealer is the best bet. 2nd best may be the distribution companies.
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Old 02-03-21, 09:18 PM
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Originally Posted by Milton Keynes View Post
We are Famers, bombadombom bom bom bom... Dang it, me too!
We've seen a thing or two. Bikes trampled by a herd of Rhinoceroses? Yep, we covered it. That's why your insurance rates are so high - if your property is trampled by a rhinoceros, we'll cover it!!! Well, our rates are also high because we advertise so much.

You should try (NOT GONNA MENTION!!!) We customize your insurance so you don't have to pay for ridiculous crap like insurance against rhinoceros herds! But our rates are also so frickin high because we advertising more!!!
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Old 02-05-21, 11:27 AM
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Originally Posted by GlennR View Post
They're gonna give you full new value for 20 year old bikes?
Yes. That's what "replacement value coverage" does.

I pay Farmers Insurance a little extra for mine.
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Old 02-05-21, 11:35 AM
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Originally Posted by Drew Eckhardt View Post
Yes. That's what "replacement value coverage" does.

I pay Farmers Insurance a little extra for mine.
I guess you missed post #4.

So if you had a 3x7 steel bike with cantilever brakes, how do they value it since you can't buy a similar bike? Do they adjust for inflation?
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Old 02-05-21, 12:59 PM
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Originally Posted by GlennR View Post
So if you had a 3x7 steel bike with cantilever brakes, how do they value it since you can't buy a similar bike? Do they adjust for inflation?
You get a LBS to write a quote for a 'similar' bike. If you had a mass-produced steel bike from 1993, a mass produced Aluminum bike with similar quality of parts from 2021 would be considered an equivalent.

If you build up an old Fuji frame with 1989 Dura Ace parts, the 'replacement' value would be a modern bike with Dura Ace parts - even if it cost you $300 to build the original bike and a replacement is $4000.

And, as mentioned, generally the water bottle cages, odometer, lights, lock, upgraded replacement pedals, saddle bag and kickstand add to the replacement value, if they got stolen with the bike.
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Old 02-05-21, 01:23 PM
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Originally Posted by masonv45 View Post
You're going to need to prove to the auditor what the market value of the bike. Easiest way would be to find 3 "completed" ebay auctions and present all three. The auditor should take the average price of all three.
Replacement value is for a new comparable bike, not used.
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Old 02-05-21, 01:28 PM
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Specialized Aethos sounds right
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Old 02-05-21, 01:29 PM
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Originally Posted by GlennR View Post
I guess you missed post #4.

So if you had a 3x7 steel bike with cantilever brakes, how do they value it since you can't buy a similar bike? Do they adjust for inflation?
That is irrelevant, they go by what is available today. Besides, you could get a bike very similar to that if you wanted. It's like the replacement value on a house. My policy shows a replacement value that is much higher than what I paid for it. The new house would of course have things my current one doesn't, newer style toilets, newer style refrigerator, stove, oven, dishwasher, faucets, etc.
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Old 02-05-21, 01:36 PM
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The F400 was I think a front suspension MTB of some sort; Shimano LX and Deore components. Lowest cost current bike on CDales site of a front susp MTB is $2400 for a model called the F-Si Carbon 5. Prices go up from there. In theory then, the worst you could do is the $2400
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Old 02-05-21, 04:34 PM
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Originally Posted by Sy Reene View Post
The F400 was I think a front suspension MTB of some sort; Shimano LX and Deore components. Lowest cost current bike on CDales site of a front susp MTB is $2400 for a model called the F-Si Carbon 5. Prices go up from there. In theory then, the worst you could do is the $2400
You are correct that that the F400 was a front suspension bike with LX and Deore. But the F-Si isnít the equivalent. The Trail SE 3 or SE 4 is. Deore equipped hardtail with aluminum frame.
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