TsunamiMike Posted April 12, 2011 Report Share Posted April 12, 2011 SO my Insurance comapny has deemed that my motorcycle needs more than 70% of it value to fix it and they want to total it and try to settle with me.They are offering:4875.00 for my 02 vtx1800r w/ 13K miles <which is NADA>2500 accessories571.56 in taxto total 7946.56 minus 500 for my deductible=7446.56The bike has a laundry list of items on it:T/S Bezels <Kuryakyn> - $79.97Progressive fork springs – 79.90PC 3 USB / Vance and Hines Exhaust / Barons Big air Kit – 982.33Dyno Tuning after install of PC 3 / Pipes / Air Kit – 431.34Switchblade Windshield and mount / National Cycle Cruiseliner Hard Bags and Mounts – 1354.34Kuryakyn Laydown Plate – 61.89Ultimate Seat P/N: 15040 – Ultimate Big Boy Rider Seat plain – 350.00Ultimate Seat P/N: 11040– Ultimate Big Boy Passenger Seat plain – 210.00P/N: P9800A Paladin back rest and pad – 150.95P/N: P9900 Paladin Luggage Rack – 99.95P/N: P9BR010A Mounting Hardware – 299.95Also just put on new tires on front and back last May 2010, do you want those receipts as well?Custom PaintBD’s Custom Paint – 3000.00This nets over $7K in accesories and i have a 8K rider for accesories and am only recouping 2500 for all.Something just dosen't seem right, but it gets better.The offer above is the 5th offer so far and started as low as 5500 in totality.I asked about buying the bike back and they told me 1800, then later i asked them to call their junk yards to get an accurate number and then he said that he got everything from 400 to 1800 as an estimate so they landed at 1500 as a final offer with the above total offer.They said that the final offer is 7446.56 after deductible and if i want to buy it back it would be 1500 for it. They said that the estimate does not include my riding gear which they have not estimated and apparently they have a seperate bodily injury person that still has yet to call me and it has been 3 1/2 weeks since the accident...Not sure what to do, i feel the bike offer is a slap in the face. i still have all of the stock take off parts as well at home, i was thinking about buying it back putting it back to stock and sell off the aftermarket parts and then maybe even the bike.What are your thoughts as this is my first time dealing with an ins company and a loss.. Quote Link to comment Share on other sites More sharing options...
C-bus Posted April 12, 2011 Report Share Posted April 12, 2011 It's an '02. If you listed it today, you wouldn't get $7k, so it looks like a good deal to me (kbb retail is $5k and resale generally doesn't care about mods). I'd buy the salvage bike and take those mods off to use on the replacement bike. Just my opinion, far from an expert here.Sorry about your wreck. Hope you're ok. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted April 12, 2011 Report Share Posted April 12, 2011 It's an '02. If you listed it today, you wouldn't get $7k, so it looks like a good deal to me (kbb retail is $5k and resale generally doesn't care about mods). I'd buy the salvage bike and take those mods off to use on the replacement bike. Just my opinion, far from an expert here.Sorry about your wreck. Hope you're ok.this is kinda my thoughts as well Quote Link to comment Share on other sites More sharing options...
NinjaNick Posted April 12, 2011 Report Share Posted April 12, 2011 The bike is mainly worth what the bike is and not the extras on it. Majority of aftermarket holds no value with them. Quote Link to comment Share on other sites More sharing options...
flounder Posted April 12, 2011 Report Share Posted April 12, 2011 It's an '02. If you listed it today, you wouldn't get $7k, so it looks like a good deal to me (kbb retail is $5k and resale generally doesn't care about mods). I'd buy the salvage bike and take those mods off to use on the replacement bike. Just my opinion, far from an expert here.Sorry about your wreck. Hope you're ok.Its been said....+1Are you really trying to add in a custom paint job on a totaled bike.. I mean come on.... Quote Link to comment Share on other sites More sharing options...
Likwid Posted April 12, 2011 Report Share Posted April 12, 2011 Your only bet is to shop around and try to find your model year more expensive at a dealership. Additionally, not sure who your insurance is, but Progressive only covers the first $3,000 in accessories unless you bought extra coverage (noone ever does) Quote Link to comment Share on other sites More sharing options...
jbot Posted April 12, 2011 Report Share Posted April 12, 2011 SO my Insurance comapny has deemed that my motorcycle needs more than 70% of it value to fix it and they want to total it and try to settle with me.They are offering:lots of stuffWhat are your thoughts as this is my first time dealing with an ins company and a loss..the sad truth of the matter is, you'll never get your money back for what you "invest" in your bike.that said, if the policy coverage for those parts is "cost to replace" then all you should need to do is give them receipts for all that stuff and they should just give you what you paid. If it's "market value" then you are shit out of luck.sorry to hear about your bike. Quote Link to comment Share on other sites More sharing options...
jonni black Posted April 12, 2011 Report Share Posted April 12, 2011 after market parts are covered on the bike if you elected the purchase the aftermarket parts coverage when you started your policy. i am assuming since they are giving you 7k for a bike listed at 5k that you did so.mine is an additional 60 bucks a year and i am covered for an additional 5k in after market parts above the nada value and kbb value of my bike. Quote Link to comment Share on other sites More sharing options...
TsunamiMike Posted April 12, 2011 Author Report Share Posted April 12, 2011 bike truly isn't that bad in my opinion, dealer quoted 5600 to fix it. i can fix it up and sell it and that is kind of my opinion. i'm just not sure if i return it to stock and sell off the aftermarket parts or what...Yes i have an extra policy rider for the paint <3K> and the accesories <5k> and did provide every recipet to them.. Quote Link to comment Share on other sites More sharing options...
jagr Posted April 12, 2011 Report Share Posted April 12, 2011 Post up pics of before and after. Quote Link to comment Share on other sites More sharing options...
JStump Posted April 12, 2011 Report Share Posted April 12, 2011 Yeah, your definitely not gonna get all that money you paid, that's like if I paint my ninja with actual gold then wreck, they are not gonna give me 20 grand for my bike cuz of the paint. There has to be limitations and if you look at your policy I bet you can find those limitations in there. Quote Link to comment Share on other sites More sharing options...
JonS Posted April 12, 2011 Report Share Posted April 12, 2011 Whats being offered sounds reasonable ... after experience buying and selling a few bikes ... I'll never modify them to any significant extent Quote Link to comment Share on other sites More sharing options...
Cypress Posted April 12, 2011 Report Share Posted April 12, 2011 If it really matters to you that much then just buy it back, and use any money left to fix it up. Quote Link to comment Share on other sites More sharing options...
Helmutt Posted April 12, 2011 Report Share Posted April 12, 2011 If it really matters to you that much then just buy it back, and use any money left to fix it up.I 2nd this motion - but if it were up to me, I'd take the $$$ and go shopping for a new ride and new gear!! Hope you faired better than the bike and there's no medical issues to worry about since you didn't mention YOUR condition. Good luck man! Quote Link to comment Share on other sites More sharing options...
nofear_racing1 Posted April 12, 2011 Report Share Posted April 12, 2011 this is why people need to insure there bike for all the extras. I kept mine insured for 35k and when I had my accident last year the laidies insurance had to pay the full 35k then my ridinging gear. Every policy has limits if you want higher limits you have to pay for them Quote Link to comment Share on other sites More sharing options...
NinjaNick Posted April 12, 2011 Report Share Posted April 12, 2011 this is why people need to insure there bike for all the extras. I kept mine insured for 35k and when I had my accident last year the laidies insurance had to pay the full 35k then my ridinging gear. Every policy has limits if you want higher limits you have to pay for themEverybody was wanting you to show at the dyno day really bad. He said he'd PAY you to run it! You missed a big thread awhile ago that got put in the "ranting" section. Sign up in your usercp and you can see it. http://www.ohioriders.net/showthread.php?t=74370 Quote Link to comment Share on other sites More sharing options...
nofear_racing1 Posted April 12, 2011 Report Share Posted April 12, 2011 Everybody was wanting you to show at the dyno day really bad. He said he'd PAY you to run it! I ended up hafting to work. If your from dayton Im sure youll see it Thats pretty much were I ride at for the most part. and Im not putting my bike on a dyno thats not rated high enough unless someone was willing to accept responsiblity if it damaged the bike. (Which I know isnt goin to happen) Quote Link to comment Share on other sites More sharing options...
John Posted April 12, 2011 Report Share Posted April 12, 2011 this is like the CL ads i see... 9000 dollars... for a 6000 dollar bike with "3k worth of aftermarket parts. "does not work that way lol. Quote Link to comment Share on other sites More sharing options...
Zach Posted April 12, 2011 Report Share Posted April 12, 2011 this is like the CL ads i see... 9000 dollars... for a 6000 dollar bike with "3k worth of aftermarket parts. "does not work that way lol.But what most of you are missing is that he payed for $8000 in accessory coverage, but they're only offering to pay for $2500. Quote Link to comment Share on other sites More sharing options...
John Posted April 12, 2011 Report Share Posted April 12, 2011 then do not accept their payoff and file an appeal. Quote Link to comment Share on other sites More sharing options...
TsunamiMike Posted April 12, 2011 Author Report Share Posted April 12, 2011 an appeal?As far as my condition, 5 stitches in head road rash on face, broken nose, bruised ribs, bruised knee severely sprained ankle and road rash on legs back and right foot as the bike kept my shoe when i laid it down as it got crimped between the engine and floorboard.I feel much better now.. Quote Link to comment Share on other sites More sharing options...
TsunamiMike Posted April 12, 2011 Author Report Share Posted April 12, 2011 Everybody was wanting you to show at the dyno day really bad. He said he'd PAY you to run it! You missed a big thread awhile ago that got put in the "ranting" section. Sign up in your usercp and you can see it. http://www.ohioriders.net/showthread.php?t=74370cant see the thread... what do i need to do? Quote Link to comment Share on other sites More sharing options...
Steve Butters Posted April 12, 2011 Report Share Posted April 12, 2011 (edited) normally ide say theyre offering you a good amount - but if youre paying for $8000 of coverage ON TOP of the value of the bike, then i would fight for every dime of that money that they owe you...if you have receipts for 8k worth of mods, then fight them for 8k...especially if they already told you that they would cover the 3k paint job....theyre not even offering you enough for the paint, let alone all the accessories....it may take awhile, but i would keep fighting with them...if you get to a point that you cant agree with them and theyre not willing to work with you, tell them youre going to find a lawyer and go from there...its like whats been posted already, if youre paying for extra coverage - then the blue book on your bike doesnt matter....i know a guy who had 40k worth of coverage on a car that had a book value of 4500 dollars....he had about 20k into the car in just mods, plus his initial purchase price - came out to about 40k (it was a 96 mustang gt)....if that car was to get totalled or stolen, they would have to pay out the 40k value, not book value plus some receipts....sounds like theyre trying to fuck you, dont back down(and yes it works like that...i know a guy whose car got stolen and it had a large policy on it and they paid him more than double the value of the car because of his larger policy) Edited April 12, 2011 by Steve Butters Quote Link to comment Share on other sites More sharing options...
TsunamiMike Posted April 12, 2011 Author Report Share Posted April 12, 2011 Here is some pics.. Quote Link to comment Share on other sites More sharing options...
Cypress Posted April 12, 2011 Report Share Posted April 12, 2011 an appeal?As far as my condition, 5 stitches in head road rash on face, broken nose, bruised ribs, bruised knee severely sprained ankle and road rash on legs back and right foot as the bike kept my shoe when i laid it down as it got crimped between the engine and floorboard.I feel much better now.. So, what you're saying to everyone is that you now realize how important wearing your gear is...right? 1 Quote Link to comment Share on other sites More sharing options...
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