| Author | Message | ||
     Vtpeg |
The pissing match has started over my wrecked bike. The front line adjuster dosn't seem to think aftermarket part are worth much. It's moving up the ladder to a total loss adjuster. Anyone have any experience with insurance values on aftermarket parts? Any tips, magic phrases? | ||
| Froggy |
You need to show receipts, and depending on your plan you should be covered. Progressive have $3000 of coverage for gear and accessories right out the box if I recall. You have insurance on a factory produced motorcycle, not crap you put on later. I just went thorough similar with my insurance adjuster over my wrecked SS, most of the aftermarket parts were Buell OEM stuff so he counted it as original parts, then I showed receipts for my exhaust and other damaged goods, he reimbursed me for them. Once I get my riding suit fixed they will cover the repairs of that too. | ||
| Vtpeg |
Unfortunately the policy is real clear on gear. $250 for helmet, $200 for everything else. I'm only taking a $1000 bath in that respect. Full gear saved them thousands in medical bills but not a penny extra for me. I've got my receipts from American Sport bike for about $2500, and am missing about $500 worth of others. They also want to use NADA instead of KBB which is a huge hit. Seems as though my premium equipment isn't worth much in their view. | ||
| Jramsey |
The full gear you were wearing may have saved the insurance company thousands, but it saved your ass and maybe your life. Buy better insurance next time. | ||
| Xl1200r |
Buy better insurance next time. Seriously. Your insurance blows. I'd be switching companies already at this point. | ||
| Blake |
Keep the parts. If they aren't going to reimburse you for them, then keep them. They probably won't care. | ||
| Bads1 |
My bike is covered for every penny I spent on it. That means all aftermarket that I have reciepts for,paint which I have reciept for. The bike though they most they will depreciate it because of age. I understand that. But I made sure I would be rembursed for what I had done. | ||
| Vtpeg |
Part of where the adjuster and I don't see eye to eye is the line in my policy referring to aftermarket equipment that says "repair or replace the stolen or damaged property with other of like kind and quality.". Much of the aftermarket stuff in no good now so it dosn't help me to have it. As for the gear, I'll take my lumps and replace it with new stuff. The only bright spot is they are supposed to be supplying me with a rental, so thats going to be the conversation today. Local HD dealer has roadkings for about $150 day, not what I want to ride, but all thats around. | ||
| Cityxslicker |
you will be lucky to get 25 cents on the dollar for those custom parts. a better policy to get is a minimum comp collision policy that maxes your liability, and has an over arching umbrella policy for the STATED value of the bike. you pay a premium based on the cost and receipts that the bike is worth say 15k. This is a way around getting a replacement cost for the bike, because most companies wont do it for a motorcycle, the other is if your bike is no longer produced, then well you gotta go try and find one, or select a new one. Talk to your agent about umbrella policy with a named value clause. "Full Coverage" usually isnt. | ||
| Vtpeg |
Cityx has pretty much hit the nail on the head. I could have and should have had additional coverage on after market parts. I spoke with an independent appraiser today and he said that unfortunately, I probably have a good offer on the table. I've got to do a little more research this weekend but it looks like I'm screwed. | ||
| Swampy |
What ever you do don't settle. Keep pushing it farther and farther, don't get in a hurry. I have a friend that lost his beautifuly modified 91 dynabobber, and they tried to give him around $3000, he kept after them and finally after a month and a half he had them to $7500. So just take your time, don't rush it. | ||
| Etennuly |
Sometimes they will help you with the rental deal to save themselves money. If it will pay a rental for 30 days see if they will settle for say 15 days as a cash settlement. They may not, but it would't hurt to ask. |
