Insurance co. Refuses to total
#21
Then running the VIN thru HD showed all the service done to the bike so I suspect if there was major repairs it would have showed too.
Me, I wouldn't accept the offer but hey, it's your call.
#22
Do not accept this deal. You'll end up with a bike with a rebuilt title which lowers the resale value by at least 30%. Tell them, you want a check representing the difference between a similar 2011 EG Limited with 11,250 miles w/ a clean title, minus the trade-in value for yours, plus tax and fees.
This deal should get you a replacement bike at no-cost to you.
You should also sue the other driver for medical bills, loss of income plus pain and suffering.
Good luck.
This deal should get you a replacement bike at no-cost to you.
You should also sue the other driver for medical bills, loss of income plus pain and suffering.
Good luck.
#23
The only way you will have issue with the title is if the INS company totals the bike and you decide to owner retain the salvage and repair on your own. Then the title would most likely be "salvage" or what ever term your state uses.
Diminished value can at times be hard to prove, some states do not recognize DV, some do. Some states require that a loss happen prior to being able to recover. Like you would have to sell the bike and prove that you could not get a "fair market value" for it due to the accident. I would consult someone knowledgeable regarding your states insurance code, to be sure. I would push the DV claim regardless.
New York has VERY specific insurance laws. I would check on a total loss threshold, though I cannot tell you that New York has one, some states like MO have a regulation that once the cost to repair reach 75% of the actual cash value the vehicle is a total loss. Something else worth considering.
Diminished value can at times be hard to prove, some states do not recognize DV, some do. Some states require that a loss happen prior to being able to recover. Like you would have to sell the bike and prove that you could not get a "fair market value" for it due to the accident. I would consult someone knowledgeable regarding your states insurance code, to be sure. I would push the DV claim regardless.
New York has VERY specific insurance laws. I would check on a total loss threshold, though I cannot tell you that New York has one, some states like MO have a regulation that once the cost to repair reach 75% of the actual cash value the vehicle is a total loss. Something else worth considering.
Last edited by Acooper; 07-25-2012 at 09:54 PM. Reason: ...
#24
Another issue is whose insurance is paying. If it is yours you are kind of at their mercy (read the 20 pages of fine print). If it's the other guys, you have more leverage don't have to play as nice. Google "bad faith insurance law" for your state.
#25
Update: After a month of back and forth the other party,s insurance decided to repair the bike. Estimate total $13,520 includes new frame, all new painted parts saddle bags,tour pak, fender, fairings, lowers, new handlebars, new front tire. Basically replacing almost everything. The plus = I get to add on stuff for only the cost of parts since the bike is apart, I will be adding mini apes and a few other things. The minus= they refused to pay a diminishing value so my attorney is just gonna add it in to the lawsuit.
Now for the wait 6-8 weeks for the bike to be done.
Now for the wait 6-8 weeks for the bike to be done.
#26
Update: After a month of back and forth the other party,s insurance decided to repair the bike. Estimate total $13,520 includes new frame, all new painted parts saddle bags,tour pak, fender, fairings, lowers, new handlebars, new front tire. Basically replacing almost everything. The plus = I get to add on stuff for only the cost of parts since the bike is apart, I will be adding mini apes and a few other things. The minus= they refused to pay a diminishing value so my attorney is just gonna add it in to the lawsuit.
Now for the wait 6-8 weeks for the bike to be done.
Now for the wait 6-8 weeks for the bike to be done.
#27
That's interesting. I don't think there's anything like that here - at least not in my state. I've bought and sold vehicles and have never been asked (or asked myself, for that matter) if the vehicle was in an accident. The only time I've had anything similar is when transferring title - they've asked if the vehicle currently has any damage or mechanical defects. However, even it it has been wrecked, as long as it has been repaired, you can still truthfully answer NO.
the disclaimer for damage only applies to new vehicle sales here in the states.. if there was $1,999.99 damage done to a new vehicle it's not required to be disclosed.
#28
I would not be sanguine about riding a rebuilt bike, even with a brand new frame. I have heard stories about rebuilt bikes where the build was perfect, but the owner said it just didn't "feel right". Also, there is the psychological factor. Might even be better tha a factory built one, but I would never really feel confident in it.
#30
That's pretty much what I told you a month ago. Everyone tries to treat it like a car wreck and it isn't. They don't "fix" anything. It's cheaper and easier to replace anything that's damaged including tins. When I got my bike back it was like getting a brand spanking new bike that was really 5 years old. I see absolutely nothing wrong with getting a used bike with 13.5K of new parts on it. Paint- You know you can get any color your heart desires and it doesn't have to be the original color. Same for graphics and pin striping. If you like some other combo of pin stripes than what it had standard, go ahead and get it. No extra charge.
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01-09-2012 05:38 PM