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Old 06-08-2009, 08:15 PM   #1
FlipSideUp
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Bike is "TOTALED". WTF?! Need Advise...

Just talked to the other guy's insurance (Traveler's), and turns out he's in the Total Loss Division.

They say damage is estimated at $6163.44, and that's not even taking into account any of the upgrade parts, paint, nor powdercoating.

So they say the bike only has a value of only $3673.00 + tax. But that's only the bike as if it were stock, which my bike obviously is not. It's considered totaled because the damages far exceed the (their) value of the bike.

I can buy it back for $1579.00 (Salvage value), and I will receive a check for the difference (which I guess means $3673.44 - 1579.00 = $2094.44). Just the paintjob and powdercoating alone exceed this amount, not to mention the Ohlins, RaceTech, Wheels, PCIII, Cans, Galfers, SS Lines, etc., etc....

This is not final, because I need to show them receipts for all the stuff on my bike, which I don't have "all", but have some (if not most) to prove the bike is worth more. I just have to dig them up.

But then he says this will affect the buy back cost (meaning I'll have to pay more), and it may still be considered totaled. So I will still have to buy it back at a higher price, then I can get it back with a Salvage Title only.

Magic will send me another receipt for the paint, and ScooterTrash will do the same for the powdercoating. Thing is, the insurance guy says those are not neccessary improvements for the bike, so it will account for little in how they consider it's "value"!

He said if I don't have all the receipts, then they "may" consider an verifyable Estimate from a Store/Shop, but only for parts, not labor. They will also deduct for depreciation, and other items may be considered maintainence. I may call Patrick on this, since I can't find some of my receipts for the Ohlins/RaceTeching.

Now with my own insurance (Progressive), I am insured for the value of the stock bike plus $5,000.00 in upgrades. Before I started dealing with Traveler's, Progressive asked if I wanted them to handle the claim. I said I'll wait and see how it goes with Traveler's. In the meantime, progressive called me a few days ago, and left a voicemail message acknowledging that I was dealing with Traveler's, and to call them back if I wanted to cancel my claim through Progressive. I never called her back, so can i still go through my own insurance? But I wonder if it will affect my insurance future rates.

Can I get Progressive to fight Traveler's over the value of the bike, since Progressive is insuring it for approximately $8,673,44 ($3673.44 + $5000.00)?

Aside from the paintjob, I can get this bike back together for very little $$$. Frame's fine. Forks are fine. Motor's fine.

The only real items that are damaged and need to be bought new are the instrument cluster, flyscreen, and headlight (which I had planned to replace with a V-Rod headlight anyway). I can get a tank and tail off of Ebay.

Who knows what's the best way for me to handle this?

All input will be greatly appreciated!

Thanks!

Rob
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Old 06-08-2009, 08:20 PM   #2
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BS. Doesn't matter if it was necessary damages or not.

YOU do not have the bike you were riding because of their mistake.

They need to pay for it to be either rebuilt or for you to recreate it.

Lawyer time. Progressive does have a tendency to drop if they cannot purchase junkyard items to replace the items damaged with. This included engines for BMW from my experience. If they can't find a junkyard engine, its totalled.



I dont have personal experience in this matter, but you are the victim here so they need to settle, not you.
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Old 06-08-2009, 08:22 PM   #3
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Get an attorney. It's the only way you'll be compensated for your loss in your eyes.

I'm really sorry to read all this. Definitely buy it back, no matter what they decide- it's a sweet bike and I would hate for it to end up crushed.
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Old 06-08-2009, 08:22 PM   #4
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you can still use your ins and let them deal with travelers. i would. then i'd buy a new speed triple 1050 lol
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Old 06-08-2009, 08:23 PM   #5
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your bike was pretty slick rob. dunno what i would do. part of me would wanna take the $8k from the insurance and get a new bike. if i was really attached to the bike i would buy it back, but at the same time try to get as much compensation from the other dude's ins. company. i dunno man, tough choice.

+1 to what cali said, don't settle.
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Old 06-08-2009, 08:27 PM   #6
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Quote:
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your bike was pretty slick rob. dunno what i would do. part of me would wanna take the $8k from the insurance and get a new bike. if i was really attached to the bike i would buy it back, but at the same time try to get as much compensation from the other dude's ins. company. i dunno man, tough choice.

+1 to what cali said, don't settle.
The problem is, Traveler's is only saying my bike is worth $3,673.44. I'm not attached to it, so if they gave me what it's insured for (with Progressive $8,673.44 +/-), I'll definitely take the loss, buy it back, and buy something else.

Truth is, with the bike plus adds, it's well over $10k invested.
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Old 06-08-2009, 08:27 PM   #7
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You can never get out what you put in, sorry
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Old 06-08-2009, 08:27 PM   #8
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Houtex was telling me it wasn't that bad, and you were trying to polish it out afterwards lol.

I know you love the bike, and man it still is! I'd keep it and definitely fight for it. W the attorney, show them the BOTM winning months etc and show it as a show bike that you use for your community service w the Patriot Riders... play all the angles that will make the insurance company grimpse that the bike was in prestine condition and had emotional attachment from the owner.


The insurance company is going to fight for the cheapest pay out. Period. They are a business intent on making money not paying it out. Try you wont get it all back, but you are still the victim here.
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Old 06-08-2009, 08:29 PM   #9
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You can never get out what you put in, sorry
Oh I know that, but to say they'll give me the value of a stock bike is BS.
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Old 06-08-2009, 08:31 PM   #10
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call your insurance. let them deal with you. i promise.
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Old 06-08-2009, 08:31 PM   #11
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Old 06-08-2009, 08:35 PM   #12
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Never accept the first offer. You sure your neck doesn't hurt? wink, wink. Get a motorcycle accident attorney asap.
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Old 06-08-2009, 08:36 PM   #13
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Quote:
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Houtex was telling me it wasn't that bad, and you were trying to polish it out afterwards lol.

I know you love the bike, and man it still is! I'd keep it and definitely fight for it. W the attorney, show them the BOTM winning months etc and show it as a show bike that you use for your community service w the Patriot Riders... play all the angles that will make the insurance company grimpse that the bike was in prestine condition and had emotional attachment from the owner.


The insurance company is going to fight for the cheapest pay out. Period. They are a business intent on making money not paying it out. Try you wont get it all back, but you are still the victim here.
Yeah, it's ridiculous! I have no idea how they came up with $6k in damages? I've crashed worse with other bikes, but never wnet through insurance. I just bought used parts, and put the bikes back together for cheap. Only the painjob will cost me, and that's because I can't paint!
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Old 06-08-2009, 08:37 PM   #14
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you will pay your deductible BUT you can claim on your insurance. they will settle or sue with the other company. not your problem. i always have done this. i had 25,000 coverage uninsured motorist. i rear ended a vehicle. he took off. it went under uim coverage which was only a 250$ deductible. they bought me a new hood carbon fibre, 1000$. no reciept. 3 month wait, while they paid for the rent car.lol. your company will take care of you i bet.
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Old 06-08-2009, 08:40 PM   #15
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Quote:
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you will pay your deductible BUT you can claim on your insurance. they will settle or sue with the other company. not your problem. i always have done this. i had 25,000 coverage uninsured motorist. i rear ended a vehicle. he took off. it went under uim coverage which was only a 250$ deductible. they bought me a new hood carbon fibre, 1000$. no reciept. 3 month wait, while they paid for the rent car.lol. your company will take care of you i bet.
I'm gonna call back Progressive tomorrow, then. I hope it works! Thanks!!
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Old 06-08-2009, 08:40 PM   #16
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Its a matter of the shop/labor costs.

If they want it totalled, it gets totalled. Instead of repairs, things are quoted for replacement. I bet if you demanded an itemized list labor will be doubled over, prices not at wholesale for the insurance company etc.

Sidenote: some motoshops work before the adjusters to make sure a bike doesnt total since they know insurance companies dont want the liability but the customer wants their bike back. You can always try to demand another shop to appraise the repair.
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Old 06-08-2009, 08:41 PM   #17
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Who on here was an insurance salesman for Farmers?

He was moving up to the Woodlands area? Someone on here has to work for an ins company and provide some ammunition/points to drive in.
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Old 06-08-2009, 08:44 PM   #18
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Also you may want to point out to Progressive that it is in there best interest for Travelers to pay you an amount closer to the value that Progressive has your bike insured for than the BS amount Travelers is wanting to pay.
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Old 06-08-2009, 08:50 PM   #19
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Quote:
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Its a matter of the shop/labor costs.

If they want it totalled, it gets totalled. Instead of repairs, things are quoted for replacement. I bet if you demanded an itemized list labor will be doubled over, prices not at wholesale for the insurance company etc.

Sidenote: some motoshops work before the adjusters to make sure a bike doesnt total since they know insurance companies dont want the liability but the customer wants their bike back. You can always try to demand another shop to appraise the repair.
The bike is at my Uncle's Shop, Super Auto Body Shop (OK, not really my Uncle, but in Filipino terms... he's very good friends with my real uncle, and is always at the family gatherings, so I call him "Uncle" Art). He always fights to fix the damage for authentic parts replacements, and not aftermarket cheap stuff. I didn't realize, though, that he was involved up front, but rather in response to the insurance adjuster's estimate/proposal. So I'll talk to him tomorrow and see what he can do.

If they give me $8.5k for the bike, I'll take the money and buy it back. Maybe I'll have enough left over to buy a track bike, too!! I just don't like how he said it'll also raise the buyback price, which seems to be some proportion to the loss value.
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Old 06-08-2009, 08:52 PM   #20
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You can use your insurance company to subregate the insured's insurance co.
You will have to pay your duductable until they finalize your claim at that point you will be reimbursed your deductable.
As far as a betterment claim there are outside company's that will evaluate your claim and go to bat for you.
They usually run about $500 + a little percentage of the amount recovered.
Some will run comission only, it's a rean pain in the azz sometimes but can be worth it!
If you plan on buying the bike back, chose your words/tactics wisely!
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