Websight to find salvage bike values?

[jakestolar]

I just got the estimate for my bike (some guy ran it over in the parking lot). The insurance guy wont be able to look at it until Tuesday. I am trying to get ahead of the game a bit and find out if it is totaled and if it is what the buy back might be.
Thanks

 

[ATFIII]

I don't have any information for you, but I do have a question for you. In the event your bike is labeled as a complete loss, would you be getting another buell? It makes me sad when our Buells get totalled, but it has an even more profound effect when one of our own decides to go another brand. Granted it is your choice, I have nothing against other brands. I just think we are a dying breed of riders. And best of luck with the bike.

/thread jack

 

[jakestolar]

Nope either way I am buying my buell back and buying another XB12R that doesn't run. Gotta have my winter projects!

 

[ATFIII]

[up]

 

[50dro]

A quick Google search showed 15-20% of KBB value. I hope you don't have to find out the hard way. If it gets to the point that they want to total it, you can ask them what the most they could give before it's totaled and you can decide from there. In that case, your title would be clean.

 

[firefighter1c57]

In Oklahoma, the plastics etc do not have to be replaced. The only thing necessary after a accident is for the vehicle to be returned to a safe and legal running position. You can use that here to prevent insurance companies from totaling your bike by not claiming plastics etc. Your state may vary.

 

[jakestolar]

It is actually looking like with in the next few weeks I'll have 3 buells a blast and 2 12R's! haha hopefully I just worked out some deals with my buddys. My room mate has a car that he is selling for $500 and I am trading that for a blast then buying my buell back and picking up another 12R for cheap and it has a micron exhaust and a lot of carbon fiber on it. This may be a good week after all!

So according to your search 5-0 my blue book value is a little over 6k. If they decide to total it I should be able to buy her back for $900 to $1200?

 

[50dro]

Yep...you might want to read up a bit more though. I just did a search for "salvage motorcycle values" and that's what I found quickly. These were mainly forums etc so I'm not sure if it was anything official or not...

So according to that, they'd cut you a check for around $6k and you'd buy it back for as much as $1200 leaving you with around $4800 to invest in it. You can get alot of nice parts for that! Good luck!

 

[jakestolar]

Ill see what happens and won't hold my breath. But the repair estimate took my breath away

 

[NwRider]

Jake... That's my line of work. I am am independent damage appraiser. When a bike or car totals I get 3 salvage bids from local wrecking yards or what is called a pro quote from a company called CoPart. High bid is what the insured can buy back the salvage for. Motorcycle salvage is usually very low. New sport bikes are rarely over 800 from my experience.

15 to 20% may be high but i have never totaled a Buell.

Good luck sir.

 

[jakestolar]

^^awesome! I really hope she doesn't total but if so ill make out like a champ! Really appreciate all the words fellas. The weather was amazing today I just wanted to ride!..

 

[NwRider]

Weather was crap here today... I just wanted to ride!

You said you had a high estimate? Vehicles are considered a total loss when the repairs reach 70-80% of the ACV(actual cash value)depending on your state. There are companies used for determining the ACV but from my experience NADA value is usually pretty close. This will give you an idea.

http://www.nadaguides.com/Motorcycles/2010/Buell/Motorcycles

Vehicles will also total for less than the ACV if they have been structurally compromised or have the possibility of being structurally compromised. If there is the slightest chance a bike can not be repaired safely I will kiss it good bye rather than be liable for allowing it back on the road. If the owner chooses to retain the salvage on an potentially unsafe bike it is on them.

Oh... I had a point when I started writing this!!!

50dro mentioned finding out how much they would pay before deeming it a total loss. That is a great idea if you don't want it to total, but most insurance adjusters won't disclose that info and its generally frowned upon to "save" a total loss. I would recommend expressing to the adjuster that you would prefer it did not total. Then ask him.. "If my bike gets close to the total loss threshold could I accept an appearance allowance on some of the cosmetic repairs to keep it repairable?"

An appearance allowance is basically you accepting less for certain things you could live with. Say a wheel had a scratch but was fine otherwise and cost $300 to replace. The adjuster could offer you $150 to live with the scratch. I personally offer 50% for appearance allowances but other companies may differ.

This is a way the adjuster could keep a vehicle below the total loss threshold with out writing a bogus sheet just so you don't get a salvage title. (His supervisor would frown upon that).

Another thing to mention to the adjuster is that you plan on "Cashing out" and doing the repairs yourself. When you "cash out" or "take the money and run" you are releasing the insurance company of paying any additional funds (additional parts or labor if it was in a shop being repaired). Adjusters like files closed and off their desks. A good claim is one the adjuster does not have to ever see again.

I know... long winded but useful info. Keywords "Appearance allowance" "Cashing out"


Hope this helps.

 

[jakestolar]

Do they use the avg retail or low retail? Do they take in account my aftermarket parts?

When I spoke to the adjuster he said something along the lines of in the event my bike is not totaled and he and the repair shop agree on the estimate that he would give me the check and what I do from that point is on me. Is this true?
I would love to have them cut me the check. Id pay the dealer for the estimate labor and be on my way

My repair bill might give you a stroke. $4890. The avg nada is $6300 (dealership said if they take into account my aftermarket parts that my nada would be over 7 grand) she might be a goner according to the dealer.

This sounds like there is a lot of room for compromise. This is helping me a lot. Losing my bike blows

 

[jakestolar]

ohh one other thing, apparently my claim adjuster is a total douche canoe. The guy asked me if he know who my adjuster was, I told him the company and got his first name out. The service writer finished with his last name and rolled his eyes

 

[NwRider]

Do they use the avg retail or low retail? Do they take in account my aftermarket parts?

Nada is just a guide not what they base value off of, but average retail is usually pretty close.

As far as your A/M parts.. It depends on your policy. Some insurance companies cover them, some don't and some offer additional coverage you have to pay for to cover A/M parts.

Most people always want the cheapest rate they can get and don't realize that the $3000 sound system and $4000 wheels and tires aren't covered on their policy until AFTER their 86 civic gets stolen. Its at that point they read the fine print and think the extra $100 a year would have been worth it. Especially after getting $50 for their civic.

When I spoke to the adjuster he said something along the lines of in the event my bike is not totaled and he and the repair shop agree on the estimate that he would give me the check and what I do from that point is on me. Is this true?

That would be him cashing you out. If the check is made out to you and you cash it, its a done deal. If he made the check out to the shop or you signed it over to the shop with the intention of them doing the repairs, the claim remains open. Meaning, the shop could find more damage after starting repairs and supplement the insurance company for them. If the claim is open with the possibility of additional charges from the shop, the adjuster may opt to push it through as a total loss. This is why I mentioned "cashing out".

So.. yes.. if you cash out.. any additional damage found is on you. You will have no recourse if you find hidden damage, so a complete as possible estimate will benefit you... unless of course it is so high it totals it. Kind of a double edge sword.

Oh... btw... 80% of $6300 is $5040. If I was handling your claim and I knew you would cash out... I would cut you a check for $4890 and say... "Have a nice day fugger".

Minus the fugger.

Good luck and sorry about your bike man!

 

[NwRider]

total douche canoe

If he will agree to a price with the shop and you cash out... his douchey-ness should not come into play.

Edit: His douchey-ness may make it fun for the shop to reach an agreed price with tho.

 

[jakestolar]

As far as your A/M parts.. It depends on your policy.

This isn't my policy it is the guy insurance who took my bike out. Geico. So does that mean it is up to geicos discretion?

"Have a nice day fugger"

[up][up]

Thanks NWrider

 

[ATFIII]

Thanks for all the info NwR! Even though this isn;t my thread, I feel it is very beneficial!

 

[NwRider]

As a claimant they are required to return it to pre loss condition. So they should cover A/M parts. If it does total have all the invoices for parts you have available to give them. If you don't save all of them like most people make a list and print pages off the internet showing the cost of these items. This will increase the value and can result in a bigger pay off. Remember.. If it totals you do not have to accept what they tell you its worth. You can dispute it and hire an independant appraiser to negotiate with them. Maybe i could offer a Bueller discount or free counsel. He he he

 

[jakestolar]

You can dispute it and hire an independent appraiser to negotiate with them. Maybe i could offer a Bueller discount or free counsel. He he he

I will defiantly keep you up to date on this. Again thanks so much!