Well, the night started out great

The extra coverage for accessories will help but will not add $3500 to the value. I can’t see any way that it won’t total. Most ins adjusters don’t have estimating systems that have any database for motorcycles so they just have you get an estimate from shop of your choice & they will pay off of that. That estimate cost will be enuff to total it so the estimate is a mute point. So you need to provide all receipts not only for accessories n upgrades, but also your recent “tranny job” (sorry)
All these things wil add to the actual value they settle on. Once totaled, they HAVE to allow you to retain the bike or salvage. It’s your choice. But when you retain it, instead of paying you that value amount, they just deduct the salvage value off of that. So you keep the difference $$$ and the bike
 
Last edited:

If I tell them the tranny is new won't that add to the salvage value I'll have to pay to keep it ?
 
I have to respectfully disagree with that. I deal with them every day in my work. You should give them everything you can that will add value to the total actual cash value of the bike. The salvage value will be less effected by upgrades or rebuilds. The only thing that will decrease the value of the salvage will be the parts that are damaged. Period. Everything else adds value. You have to remember, they are valuing the bike in its pre crash condition
 

Depends if you want to purchase the hulk or not.
I seriously doubt insurance will give any more money for recent repairs.
IMHO, better to buy a hulk assumed to have OEM guts.
 
I think Clint is saying give them any information, recent receipts etc to prove the highest pre crash value you can to raise the maximum insurance loss value.

If you decide to keep it and in effect buy back the wreck after the insurance claim has been paid out, the salvage value is a separate valuation entirely which only considers what it could be worth at auction where all those recent rebuilds internal enhancements etc mean diddly squat.

You then decide whether to take the full amount in cash for the insured loss or ask for the wreck tobe returned to you so the estimated salvage price it is expected to reach at auction is subtracted from the insured loss value and given to you.
 
When an insurance company totals a vehicle, they have to come up with an actual cash value to pay you off of. They do that by taking all the info off of your vehicle: year, miles, condition. They compare that to vehicles as close to what you have in your area, that are for sale at the time. They average the sale price of the “comparative” vehicles to come up with the value. Then, if you have any upgrades as in aftermarket components that do not come original on he bike, those will add value. Lastly if it has new tires, rebuilt engine, trans, paint job, etc. that will also add value (provided you have receipts. Get the value up there, n let the salvage value be what it is.
Trust me on this, been doing it a long time
 


Exactly...... thanks for wording that better for me - you are correct
 
You must log in or register to reply here.

Similar threads

Night riding dangers
Replies
3
Views
260
Dr.D
Why I thought I might have started World War III
Replies
2
Views
683
Justdad
College Bowl Games and the Opt Out
Replies
5
Views
629
Mighty Mouse
For Fred- the secret buyer?
Replies
0
Views
109
Ishrub
The great British motorcycle scam
Replies
2
Views
825
stingray
Menu
Log in
Register