I've always had difficulty with the VALUE aspect of insurance policies.
For bicycles in particular how do you determine the value?
For instance I have a Ghost 5000 Race bicycle - purchased January 2012, it was reduced from £1300 down to £899 in a sale but if god forbid I needed to replace it spec for spec it would be £1300 I would need to stump up.
what with depreciation value and the fact that there seems to be a 3 year limit should I still be putting that the bike is worth £1300 and that if I ever needed to claim this is the value that I would be asking for?
Never really needed to make a claim before (hopefully wouldn't have to) so eager to avoid any pitfalls and any advice would be appreciated.