| Author | Message | ||
     Firebolt32 |
Not offical yet, but might as well call it totaled! Tax, labor and total repair cost came out to 4,463.46. The Bolt blue books at just over 5K. I'm so pissed right now. I've been paying on a bike and insurance for two years for possibly nothing! This sucks guys... | ||
| Americanmadexb |
Sorry to hear, but thats the risk we take. I had to go through the same thing a few months ago.. Just do what i did, go buy another one! | ||
| Hootowl |
The insurance company has to make you whole. They either fix it, or get you another bike comparable to the one you had. Totaling doesn't mean they're not on the hook for it, it means that it's cheaper to get you another bike than it is to fix the one you had. If they total it, have them get you another one. If they're saying your bike is only worth 5K, have them procure one for that amount. Contact your state's insurance commissioner if they push back. | ||
| Jaimec |
I think that depends on the State regulations, and they're not the same for all States. In New York, they are liable for the value of the bike, which they base on Kelly Blue Book. If the cost of repair is more than the bike is worth, then the bike is totaled, and you get the cash equivalent, you do NOT get a replacement motorcycle. Tough on bikes that depreciate faster than you can pay off the loan... (Message edited by jaimec on January 21, 2010) | ||
| Hootowl |
If you can not procure the same bike for the "blue book" value the ins co pays you, your state's insurance commissioner can help you. Your new bike would obviously be used. I did not mean to imply you would get a brand new bike. | ||
| Froggy |
Nailed it. I bought a new 06 Uly in March 2008, and got into a wreck October 2008. Insurance gave me only about 8k for the bike, I still owed nearly 13k on it at the time. Not fun. Flash forward, I got into a wreck on my XB12SS back in July, I got the repair estimate within $50 of totaling, plus with my accessory coverage I ended up with a very nice down payment on my 1125CR  The XB sits rotting in my garage, I will fix it one of these days, but its a piece of junk compared to the 1125 so I am in no rush. | ||
| Nevrenuf |
that's what i kinda figured looking at it jesse. and don't hesitate to ask about getting the bike back for nothing even after you get a check. if you don't ask, you don't know. and if there's anything i can do, you have my number. tell momma sue i said hello. | ||
| 2008xb12scg |
Another way to look at it. Your baby is totaled. You get 5k for A 3 year old bike. For another 1 k or maybe 2? you can get A brand new bike. Another option, you get the 5k buy the salvaged bike back and fix it yourself pocketing the extra $. | ||
| No_rice |
find out what they want to buy it back, definatly. if nothing else i may be interested... not sure how, but you never know lol | ||
| Firebolt32 |
The way it works down here is if they do call it totaled insurance will pay blue book. Good thing is I bought the GAP insurance as well that will pay off any remaining balance. As Neil stated I'm going to try to get the bike back if totaled. It will give me a project to work on as my leg is healing. If I can't get it back for nothing, I don't currently have to funds to buy it back with my baby girl being due in May. Once the insurance company pays for the supplies used out of pocket for my leg and loss wages (vacation time taken) I should have a decent check for a down payment on another bike if there are any left! | ||
| Rageonthedl |
You could just ship it to me and i can fix it for you at home in my shop i am a hd/buell tech, i only charge $45hr vs. the shops $72+ tax + shop supplies + what ever the hell they want haha but your in florida. | ||
| Sifo |
I had a friend go through this with a car. He couldn't find a comparable car for the price the insurance was offering. He could find a comparable car for more money however. He talk to his insurance company about this and they put up the extra cash so that he could get a comparable car. Might be worth checking what's available before accepting the offering from the insurance co. | ||
| Firebolt32 |
That would be nice Rage... Even with the family deals I got when my mom worked at an H/D dealership I worked on the bike myself because none of their techs worked on Buells... | ||
| Cringblast |
but its a piece of junk compared to the 1125  Froggy what's up with that ? C. | ||
| Rageonthedl |
When my bike was stolen they gave me some crazy low ball price and i tossed crazy price right back at them and told them not to call till the came close to it. i ended up getting 2k more than they wanted to give me at first. | ||
| Nevrenuf |
basically the same thing when the m2l got totaled. went back and fought for more plus the other persons insurance co had no desire to take the bike so they let me have it at no cost. i asked and they gave it to me. which is what i told jesse to do. just hoping it goes good for him. | ||
| Firebolt32 |
It's just eating me up. I want to know what the hell is going on. | ||
| Mr_grumpy |
That's what they're counting on, that you'll give up & take what they offer. Find some other bikes for sale (same model, mileage, etc) to check their offer. If it's significantly lower (which is often the case) send them copies of the ads, with a polite letter explaining your point of view. 9 times out of 10 they'll up their offer to be in the ballpark. once they see you're not going to accept their 1st offer they're generally pretty fair, as if you decide to go legal on them it costs too much. The 1 st offer is usually an opening gambit, if you take it, they've made a few extra bonus bob, if you don't, it's cost them the price of a letter. Not hard to do the math. Over here, the insurance company will take bids from salvagers for the wreck, & you have the right to buy it back at the highest bid price. Might be worth buying it back to part out. Best of luck with it. | ||
| Swampy |
Keep telling them no, you want more, they are counting on you folding after the first or second offer. Do you have any receipts for repairs? (Message edited by swampy on January 23, 2010) | ||
| Firebolt32 |
No Swamp...Nothing has ever technically repaired. I say that because when I couldn't figure out what was up with my head light a tech did it for nothing. This is the first time it has ever been in the shop. State Farm has all the paper work. I should hear something some time next week. I'll be sure to give them a good run! |
