Well, the night started out great

[EasTexRIII]

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

 

[Rocket Scientist]

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 $$$ n the bike

If I tell them the tranny is new won't that add to the salvage value I'll have to pay to keep it ?

 

[1olbull]

If I tell them the tranny is new won't that add to the salvage value I'll have to pay to keep it ?

Don't offer any information!
Always answer yes or no if possible.

 

[EasTexRIII]

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

 

[Rocket Scientist]

What do I do

 

[1olbull]

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.

 

[Ishrub]

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.

 

[EasTexRIII]

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

 

[EasTexRIII]

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.

Exactly...... thanks for wording that better for me - you are correct

 

[Rocket Scientist]

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 fully intend to buy back the "incredible hulk"