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Insurance Claim

Discussion in 'Auto Accidents, Injuries' started by Johndoeee, Oct 29, 2019.

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  1. Johndoeee

    Johndoeee Law Topic Starter New Member

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    Jurisdiction:
    New Hampshire
    My motorcycle is a
    2007 Buell XB9 W/ 7000 Miles
    MSRP is about 7000$
    I was hit by a truck while riding, he was found at fault. The repairs cost me 2800$, his insurance company called the bike a total loss. I was offered 1800$ and they would have to stamp my title as salvage because they valued the bike at 2400$. I repaired the bike before being paid by the insurance company since it's almost winter. How can I get more money or is it a fair offer? Thoughts comments and suggestions are appreciated
     
  2. zddoodah

    zddoodah Well-Known Member

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    "Found at fault" by whom?

    The way to get more money is to try and negotiate. Based on a quick Kelley Blue Book search, it looks like $2,400 might be a bit low (esp. for a bike with very low mileage), but you'd be quibbling over only a few hundred bucks.
     
  3. Johndoeee

    Johndoeee Law Topic Starter New Member

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  4. Johndoeee

    Johndoeee Law Topic Starter New Member

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    Is there a way to avoid the salvage title stamp?
     
  5. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    Have you accepted a check yet from the insurance company? If not, and the damage was only $1800 they would be better off paying you the $1800 and not declaring it totaled. Because if they do they are going to owe you the fair market value which will be around $2400.

    It's all part of the negotiation.
     
  6. Johndoeee

    Johndoeee Law Topic Starter New Member

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    Also are claiming the milage of my motorcycle does not effect the value, they didn't take the mileage into consideration
     
  7. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    It is low mileage and it does add to the value but if you have already spent money to fix the bike your aim should be to not get the salvage title put on it because if that happens the value will drop to just about zero.
     
  8. Johndoeee

    Johndoeee Law Topic Starter New Member

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    The damage was 2800$ they're valuing the bike at 2400$ and only offering me 1800$
     
  9. Zigner

    Zigner Well-Known Member

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    How much did it cost YOU to repair the bike?
     
  10. adjusterjack

    adjusterjack Super Moderator

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    Then you are only entitled to your repair costs. Submit the receipts for reimbursement.
     
  11. zddoodah

    zddoodah Well-Known Member

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    Please don't insert responses into quotes. It makes it very difficult to determine what is your new information and what you're quoting.

    It may not be relevant in this situation, but the police do not make binding findings of fault. In fact, unless the officer writing the report actually witnessed the accident, his/her conclusion about fault is no better or worse than anyone else's.

    You may have to take a lowball offer for that to happen. Since you've already had the vehicle repaired, it's all a matter of negotiation. Keep in mind that this is an old bike that isn't worth much in the grand scheme of things, so it's not like a salvage title stamp is going to cost you significantly if/when you ever sell it.

    I assume I correctly inserted the missing words in this sentence. All I can tell you about this is that, when I went to the KBB website for motorcycles, it gave me a value without regard to the mileage. Again, though, this is all about negotiation.
     
  12. army judge

    army judge Super Moderator

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    There are several websites that claim to BUY motorcycles, these are a couple examples, I don't recommend any of them.

    They claim to take mileage into consideration when they make an offer.

    I recently sold a low mileage 4 year old automobile (12,000 miles) and was very pleased with the offer, as it exceeded the next best offer by over $10,000.

    I point this out to you for ILLUSTRATIVE purposes ONLY:

    Carvana Does Not Buy Motorcycles, But We Do!

    RumbleOn | The 100% Online Motorcycle Marketplace
     
  13. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    If you can't negociate you will have to litigate. That is likely going to cost you more than the bike is worth.

    The following is my experience with RumbleOn.

    I know nothing of the first one but RumbleOn offered me about $1500 less than trade-in blue book. I ended up trading it for about $500 more than KBB.
     
  14. army judge

    army judge Super Moderator

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    As someone suggested above, from which I inferred that maybe the mileage of a bike means less than it does on an automobile or pickup truck.

    Your experience would lead me to believe my postulate as posted hereinabove.
     
  15. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    No milage means plenty on the sale of a bike and it was the second thing RumbleOn confirmed with me. My comment was simply for the OP to not use RumbleOn as a pricing resource. And more importantly not to allow the insurance company to do so.

    The fact that his bike just had $2800 in accident repairs hurts the value a lot more than the low mileage helps though. From a strictly financial position, the OP should not have repaired the bike and argued the value with the insurance company better.
     
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  16. army judge

    army judge Super Moderator

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    Nothing to disagree with when someone is spitting knowledge but get wet with spittle.
     
  17. Zigner

    Zigner Well-Known Member

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    @Johndoeee -
    How much did you spend on repairing the bike? If it was significantly less than the quoted amount of damage, then you could argue that you should only receive that amount and the bike shouldn't be totaled. If you actually spent $400 more (or even the same as) the actual value of the bike, then the bike should be totaled.
     
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  18. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    Above he wrote...

     
  19. Zigner

    Zigner Well-Known Member

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    That could be interpreted to mean that the insurance assessed the damage at $2,800, valued the bike at $2,400 and are offering $1,800 in lieu of the OP handing over the bike.

    My question is how much did the Johndoeee actually spend on repairing the bike?
     
  20. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    I agree the OP needs to be more clear but upon rereading the first post once again. I noticed this.

     

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