| Author | Message | ||
     Teddagreek |
Well my dealer basically totaled my bike out.. Insurance came in at 3200 and the dealer with taxes came in at 5400 dollars.. How do I get them from not totaling my bike out? This is really pissing me off.. If they could just meet in the middle I could get the bike fixed and be pretty content. Is it cheaper for insurance companies to total a bike out? If I do settle for a payout what do they include or don't.. Sales Tax? Extended warranty cost? Add ons like a race kit and carbon fiber? Also how do you insure a bike with a salvage title.. I know they won't cover the bike but what about other stuff.. I feel like I'm being taken for a ride someone set me straight... Thanks.. Ted | ||
| Slaughter |
The ONLY way you can keep them from totalling the bike is to NOT REPORT the damage. My racebike was still "insured" as a streetbike for the first year it was raced. I had to keep it "insured" as I had not paid off the loan. I never reported the crashes. As I understand it, once a crash is reported, it is out of your hands - HOWEVER - I'd call the insurance agent and see if you can retract the claim and just eat the costs of the repairs yourself. Seriously, if you MUST end up with a totalled bike, don't bother insuring it for damage/collision/theft. ONLY insure it for minimum liability as required by law. You might be shocked at how little damage it takes to "total" a bike. A deep scratch on a frame - new frame. Scratch on the swingarm - new swingarm. Bent fork - whole new front end. JUST THAT STUFF ALONE is more than $4K including labor - then start adding controls, turn signals, bodywork... it builds up another $1K QUICK. 'Tis the nature of the insurance beast. Seriously, call them to see if it's not too late. Otherwise, get it salvage and put her back on the road with minimal insurance. | ||
| Teddagreek |
Your not kidding I have some small scratches on the frame and swing arm and both were written up in the estimate.. Before the scratches on the frame were circled in Yellow grease pencil you would never find them. | ||
| Bartimus |
You can always buy the bike back from the inurance company afterwards, but it will have a salvage title. this is only a concern if you plan to sell it in the future... One of my S2's has a salvage title, but it's not a big deal to me, since i don't plan to sell any of my bikes... | ||
| Cowtown |
If your bike is totaled, they should refund your extended warranty on a prorated basis. | ||
| Easy_rider |
I did see where someone here talked their insurer into paying less than the totaled amount. It's been awhile, so I can't recall when/where I saw it. Decide for yourself what you really need to get the bike where you want it. If it's less than the "total" value you might be able to get a payout without having to deal with a salvage title. I'd think they'd want to see what you're going to do and confirm you've done it, but it may be worth it in the long run. | ||
| Arbalest |
I crashed my CBR1000F. The adjuster came from Progressive and I told him I did not want the bike totalled (it was ten years old, at the time). The guy was more than agreeable. There were parts I said I would not replace, because it was a ten year old bike. The adjuster told me he wished he had more guys like me to deal with. I guess it all depends on your adjuster, and the company's policies. He did tell me that it was Progressives policy to remove "super" sports bikes from the road, i.e., total, if at all possible. | ||
| Cowtown |
If they total your bike, the dealer should refund your extended warranty on a prorated basis. | ||
| Etennuly |
Generally the insurance companies will allow the owner of the vehicle to retain it without making a change to a salvage title. Usually the owner pays 10% of the value that the insurance company used at the time of the estimate. Talk to your adjuster about it. They usually don't mind if the owner buys it back, it keeps them from having to move, store, and sell it, but they will have entered it in their system and probably will not re-insure it. |
