| Author | Message | ||
     Grndskpr |
I totaled my ducati a few weeks ago, cosmetic only, and the insurance company is telling me i CAN NOT buy the bike back, in the state of illinois, i was wondering where to look and see if this is the law, if i am being hosed, or if anybody actually knows thanks for the help Roger | ||
| Curtyd |
It may be their call, just make sure you negotiate for fair market replacement value. push the numbers up and they may agree to the sale back as part of the settlement. Cycle Trader ads worked for me to get the number up 1500 bucks from wholesale value. | ||
| Fly |
Roger, sorry to hear about the mishap. Hope you are OK. I'm negotiating with insurance now for my totaled S3T, and they have not indicated there will be any problem purchasing it (Illinois, of course). So I'll let you know more as information becomes available. P.S. is your wife talking to you after you wadded her bike? | ||
| Wyckedflesh |
It is up to the insurance company whether or not they allow buy backs. Some will just tell you when the auction will be and others will let you just buy it as a salvage bike. | ||
| Blake |
Roger, What are they calling "totalled"? I would start there just like curt advises. Don't let 'em run over you. In addition to cycle trader, check the classified in the local paper as well as other venues like ebay and such. Find as many examples that are close to matching your bike, then add equipment and accessories if your policy included the applicable coverage. Helmet? Boots? Jacket?, Jeans?... You might also try just getting a quote for the parts and handle the labor yourself. The insurance company should not be able to deny you the right to perform the shop labor yourself. And maybe some parts don't require replacement, if you can live with the cosmetic damage. | ||
| Rocketman |
I don't know how insurance works in the States but over here the insurance company always owns the bike, once you make a total loss claim that is, but only if you took out Fully Comprehensive cover, which basically equates to you getting paid out even if it was your fault the bike got totaled. This rule is always printed in the insurance contract but it does not mean you can't buy the bike back from them. Owners often buy back in fact, depending on the level of damage of course. Read the small print. Rocket | ||
| Grndskpr |
Rocket it works the same way here as over the pond, however the original owner is usually given first chance at buying the bike back, however in Illinois there is a law that says that an individual can not rebuild a bike, IE salvage title bike can not be put back on the road unless you are a credited shop, so i was wondering if she is getting the 2 laws messed up, she sadi she would get back to me today with a price, so we have just started the whole deal, so i will see what she says, and have to ask her a few questions also, so far its been 4 weeks since the start of this, i do not recomed Mendacota for insurance, they blow but more on this at a later date Roger | ||
| Lake_bueller |
Roger....I'm not 100% sure but she may be confusing some of the laws (if they're at all similar to WI). While I can't buy a salvage title bike from an auction, I can build a salvage title bike. The process of getting it "road titled" involves having an authorized inspector (ie county sheriff/state patrol) verify the bike is road worthy. I found the info for this on the WI DMV website. I'd contact the local/state DMV to get more info regarding Illinois' laws. If all else fails, maybe they will sell the bike to me and then I can sell it to you??? | ||
| Grndskpr |
Well, its official, the legal team at grndskpr and wife have contacted the state, and if a bike is newer than 8 years old you can not buy the bike back, only a repair shop is allowed to buy the bike, this comes from the state officials who has delt with several cases in the past(all HD owners)and has only seen one owner ever actually get to keep his bike, and after the legal fees, well i am sure you understand The new problem, i have now,no running bike to go to Newfie land, and this is the worst time to buy a bike(high summer season) anybody have something they need to get rid of, or how about a loner(LOL) Just bad timong all the way around, lost a month of riding(kinda) and i need to pull all the aftermarket parts off cause you know they are only going to give me pennies on the buck What to get, What to get We will see what they give me this afternoon, hope its enuff to aford a new bike Later R | ||
| Bomber |
Roger -- is it too late to NOT place a claim? also, it's certainly far from being the ideal mount for your long distance run, but the thumper is yours if ya want it (the tires are not worn but old, and in need of replacing) you got the number | ||
| Reepicheep |
Who will the dealer be that you will be ordering replacement parts from? Probably worth a call to them, perhaps they could buy it back for you and do the "certification" in return for your business on the parts. | ||
| Lake_bueller |
Roger...I've got new rubber on the S3T. Seeing how I can't go.... | ||
| Grndskpr |
but the thumper is yours if ya want it Thanks, but to be honest, i think its a tad on the small size, thanks but not there yet Roger...I've got new rubber on the S3T. Seeing how I can't go.... I would consider it if it was the hoot, or some other location, but the trip goes on roads i dont think you would like to see your bike in some of the places it may go, again thanks but not quite there YET And for all thoose whom have offered Buells for sale, i have 2 at this point, and not ready to take on a third, looking more and more at a night train, but in most cases i get lucky and something comes my way from time to time, if all else fails i will install risers on my ZX7(which i will be pulling from a long storage this weekend) and ride that For those in the know, if a dealer has a night train listed for 12500, do you think they would take 10k for it???Or is that just wistfull thinking??? thoughts Roger | ||
| Outrider |
Roger...You really need my X1. Will make you a deal. | ||
| Grndskpr |
Roger...You really need my X1. Will make you a deal And for all thoose whom have offered Buells for sale, i have 2 at this point, and not ready to take on a third | ||
| Newfie_buell |
Roger, Once an Insurer pays you for the bike the salvage is legally theirs. They can do whatever they want with it. Sell it to a salvage yard or sell it back to you as part of the settlement process. Its their way of preventing bikes that should not be put back on the road put back on the road. | ||
| Grndskpr |
Thanks Bill, kinda interesting once you look into the law, it varies from state to state, example would be that Dyna totals a Harley, but WI allows you to buy the bike back and have it inspected, and retitled \ In illinois, only motorcycle rebuilders are allowed to bid on salvaged bikes, and rebuild them, however if the bike is older than 8 years, you are then allowed to buy the bike, and it is stamped with a rebuilt title Like i said it varies from state to state, but i have had real issues with this company, so i wanted to make sure they were telling me the truth, going on 5 weeks without a bike, and i still have not even been given a value, guess the ZX comes out this weekend R | ||
| R1DynaSquid |
I never had to have mine reinspected. The title is clean, was never marked or listed as salvaged anywhere. Saved me a lot of hassles. Rog, since the bike is running..obviously since you rode it to RA, why not tell the insurance company to forget it? Or are you gonna make out $$ wise on the deal? |
