free website stats program Need Ins. help | Harley Davidson Forums

Need Ins. help

flhf150

flhf150

Member
My ins. co. may total my 00RG. Anyone know how they determine if it's totaled? KBB lists it at 12,300. NADA average retail is around 9,000(which really sux). Adjuster is coming to the shop tomorrow. I love my RG and don't want to lose it.
 
I have read some posts that said to get copies of current mags (Cycle Trader, for one in this area) and see what bikes equivalent to yours are actually selling for. Although the KBB or NADA may list it at $9,000, in reality, the bike may actually be selling for more. Good luck. I'm sure others with more experience will chime in.
 
I think 65-70% is whert they start considering totaling it. The big thing is if your frame is tweaked just a little bit, ususlly around the crash bar connection at the top or possibly where your rear master cylinder hooks to your frame. another place is around the neck. The wierd thing is some ya don't think are totaled are, and some that don't look to bad to fix, wind up not enough in dollars to total.
 
just remember if they do total it you don't have to just take what they offer you. I went through the this with my Honda Shadow. The damage wasn't all that bad but they wanted to total it due to paint and offered me $1,300 dollars for it. By the time it was all said and done I got $4,800 for the bike and $500 for the time I could have been renting a car but didn't. and the bike was not totaled.
It takes Patients and Persistence, but don't let an insurance company you over........They're very good at it!!!
 
You have to ask yourself "If I were to sell my bike what would I sell it for?" Come up with a realistic $$$ amount and stick to that number. Like Joy said Shop around in Cycle Trader in your area and look at similar bikes with similar mileage and accessories see what they're going for and what kind of shape they're in.
 
Most companies allow for additional accessory cover. I always add 5000 to my original cover for accessories. This way, you get the totalled amount plus the 5000. Check to see if you took advantage of this when you bought your policy. Most riders don't know what they got.
 
I agree with everyones suggestions on doing your homework and finding out what the market value of your bike would be. That will give you a realistic idea of what the bike would be worth if it's totalled. Different Insurance companies may have different policies on determining value, but usually if the cost to repair hits or exceeds 75% of the value they will total it. If you really love the bike and it can be fixed properly, offer to buy the bike back from the company for the salvage value, usually the 25% they hope to recoup on totalling it. Believe me, they don't want the salvage.

I work for an insurance company.
 
Good advice here and keep in mind the replacement value of the bike in the same condition and extras as you have on yours. If they try to low ball you on price, tell them to replace it for you with a bike in like condition. Don't accept their first offer either, they will come up after you present them with the facts as long they are correct facts and you can prove it.
 
You must log in or register to reply here.
Back
Top