Need help fighting the insurance company!!! Totaled my Bike!!!

[Vette73]

As some of you have read, I had a motorcycle wreck, NOT my fault. Bike was a total.
Link to old thread about accident.

I am trying to get a value of my Bike. Every bike I have looked up at NADA (you know this is a dealer book right) and KBB are way under what they sell for. Harley's are the closest ones that come to book price, but that doesn't help me.

So they call me and tell me including all my extras, like cruise-saddle bags-etc..., they are offering $1700. I have checked Traderonline.com and see that they go for anywhere from $2000 to $3500, some a little higher some a little lower.

My Bike was a 1986 Honda Shadow VT700 with 24K. Had Cruise, saddle bags, and windsheild. When I got it I put front and rear tires, battery, spark plugs, coolant, Syn. engine oil, Syn. gear oil, and rebuilt the carbs. And I have only had it for around 700miles. So all the stuff I put on is pretty much brand new. And the bike ran great, had some carb trouble at first but bought a carb Sync and that fixed it. So no bad motor, cooled fine, and was a great bike.

Any help on the price or if anybody has been through the hell I am going through and can offer some advise please help!!!

Thanks
Marlin

 

[vi edit]

Insurance companies usually don't give a flying flip about what you put into it, aftermarket parts, new parts, ect. All they look at is what the typical vehicle that year and milage goes for and then gives you that. Also, if they total, they typically go off of whole sale prices, not retail prices.

 

[Vic]

Damn... first they bust your balls, now they're trying to screw you?
No seriously, just tell them to replace your bike if they refuse to give you a fair market value. Fight, fight, fight... it's what you have to do with those thieves. Who's the carrier, btw?

 

[HomeBrewerDude]

you should be getting a hell of a lot more than just hte value of the bike. pain suffering, plus you might have lingering effects of the accident. i suggest you talk to a lawyer.

 

[Vette73]

Originally posted by: yamahaXS
you should be getting a hell of a lot more than just hte value of the bike. pain suffering, plus you might have lingering effects of the accident. i suggest you talk to a lawyer.

Oh no this is JUST for the bike. They have a wholenother person to deal with the Med.

But I am going to fax them the print outs I got from traderonline.com If I can get it around $2800-3300 I would be happy. But looks like I have a ways to go with them.

And they are called Erie Insurance.

 

[GoodToGo]

Originally posted by: yamahaXS
I suggest you talk to a lawyer.

Agreed

 

[JeffreyLebowski]

the automotive world is a joke. Dealers sell by one book, buy by another, and the insurance uses their own numbers. The only way you can get more than what they offer is to hire lawyer and go after them.

All State did this to one of my friends. He had a show car that was stolen and torched. He was paying premiums on a value of $50K, when the company tried to settle they tried to give him $1500 for it because their paperwork showed it as being a Honda CRX. One rim on the car cost more than that. This was a head turner. No big gay wings, or fart pipe, it was made to run fast, look good, and sound good. Ran 12's in the quarter mile(no forced induction) The paint job was valued at $12K alone, and had an Acid etched Rockford Fostgate symbol on the hood. the stereo was another $10K or so, the doors had the sheet metal removed and new handleless ones were put on, so the doors would open by remote.

His car was stolen from a gated apt complex on a flatbed truck in broad daylight.
Even with 100's of pictures, reciepts and video footage of the car being made, the insurance company wouldn't budge untill he hired a lawyer, and then it took over a year to get them to pay the full amount.

 

[Sundog]

This is the same with cars...you are insured for the wholesale or loan value of the vehicle....not the low, medium or high blue book value.

 

[Vette73]

Originally posted by: JeffreyLebowski
the automotive world is a joke. Dealers sell by one book, buy by another, and the insurance uses their own numbers. The only way you can get more than what they offer is to hire lawyer and go after them.

All State did this to one of my friends. He had a show car that was stolen and torched. He was paying premiums on a value of $50K, when the company tried to settle they tried to give him $1500 for it because their paperwork showed it as being a Honda CRX. One rim on the car cost more than that. This was a head turner. No big gay wings, or fart pipe, it was made to run fast, look good, and sound good. Ran 12's in the quarter mile(no forced induction) The paint job was valued at $12K alone, and had an Acid etched Rockford Fostgate symbol on the hood. the stereo was another $10K or so, the doors had the sheet metal removed and new handleless ones were put on, so the doors would open by remote.

His car was stolen from a gated apt complex on a flatbed truck in broad daylight.
Even with 100's of pictures, reciepts and video footage of the car being made, the insurance company wouldn't budge untill he hired a lawyer, and then it took over a year to get them to pay the full amount.

Its funny you say that as he said "NADA says it is worth...." Of course I replied NADA is a DEALER price guide, not a consumer guide and using it was like asking the Tobacco companies if Cig's were bad for you. He didn't say anything after that.

 

[Hayabusa Rider]

It's been said before, and I will say it again. Get a lawyer. Do it before you start fighting with insurance companies further. The deck IS stacked against you. Being properly compensated for an accident is often more complicated than it would first appear, as you now know. Before you get boxed into a corner by your lack of knowlege, talk to an attorney. That is precisely what I would do.

 

[narzy]

talk to a lawyer, you can even get the insurence company to pay the legal bills if you win or settle.

 

[waggy]

Originally posted by: JeffreyLebowski
the automotive world is a joke. Dealers sell by one book, buy by another, and the insurance uses their own numbers. The only way you can get more than what they offer is to hire lawyer and go after them.
q]

of course dealers sell by one book and buy from onother. do you really think that any other company does not do this? can you tell me onother business that does it? how would you expect them to make money?

yeah i know everyone has to rag on car dealers.

 

[Spac3d]

Talk to a lawyer about getting the right value for your bike.. because you cannot find a simialr bike for that money.

 

[amnesiac]

This is EXACTLY why I'm putting off getting my fire & casualty license. And when I do get it, I'm staying far, far away from selling Auto. It's enough drama when Blue Cross up their rates and 30 clients call in a week bitching about it. I don't want to get yelled at every time someone gets in an accident too. :Q

 

[ICantAffordIt]

Just so you know... when my car was stolen, the way State Farm handled the amount it was worth was "replacement value." What they did was find 3 cars in my area that were the same model/year/condition as mine and offered me the middle price. Of course I had receipts and pictures to show the improvements I made and they were fine with adding that to the value.

I have to say, that the whole time I was with State Farm, I had no complaints with how my claims were handled... 4 break-in claims and one stolen car claim and they never raised my rates.

Of course now that I'm paying on a house, I had to find cheaper insurance (haven't made a claim in about 4 years)... saved $300 per year with Progressive... hope they are as good when it comes to claims as State Farm was.

Just my $.02 about insurance.

 

[The Stigenator]

sorry to hear about the accident Marlin,
I was going to post about it earlier but I really didnt get a chance to do so.

The insurance company is a bitch.. most times teh adjuster has no idea what to do with a motorcycle cause tehy are trained and used to seeing cars.

So you got to handle them hard.. if they stick at 1700.. keep it that, and take all teh modifications and part the parts of the bike out and sell that.. you wont get it to 3000 but you will get it half way tehre.

Also get a lawyer, these insurance companies suck balls.. and SUV drivers suck bigger balls.

 

[Ylen13]

Insurance companies like to screw people without lawyer. I know a person who cars was hit, it was classic. It?s not listed in any regular books and has a special book. His car was parked and he decided no lawyer needed big mistake. Insurance company offered him $2000. Price of the car in the classic book is from $8000-10000. He send them a print out and insurance company responded with well then we will not pay you at all.

So basically be really careful how you deal with this case. Most lawyers give a first consultation free; if I were you I would go and talk to a lawyer. You don't have to hire but see how much he thinks you should get paid and good luck.

 

[Vette73]

Well depending on what they do next I may just have to get a lawyer.

Its that I don't to look like a slime ball trying to get something I don't deserve, esp when it comes to Med and pain etc.., and I am having back problems so I am going to have to see someone about that, and my ankle still hurts when I walk on it.

I guess I just don't want to fall into the "Its my neck, no my back, give me money" group that makes insurance rates so high.

SIGH.....

 

[HomeBrewerDude]

Originally posted by: Marlin1975
Well depending on what they do next I may just have to get a lawyer.

Its that I don't to look like a slime ball trying to get something I don't deserve, esp when it comes to Med and pain etc.., and I am having back problems so I am going to have to see someone about that, and my ankle still hurts when I walk on it.

I guess I just don't want to fall into the "Its my neck, no my back, give me money" group that makes insurance rates so high.

SIGH.....

You didn't ask to get run over by an SUV... Why ask to get screwed over by an insurance company? TALK to a lawyer. No one will think ill of you.

EDIT: IF it was me, I would be talking to several lawyers BEFORE I agreed to hire anyone.

 

[codeyf]

I work for an auto ins company. Part of Safeco, but it's their "non-standard" product called insurQuest. Basically the cheap stuff for high risk people. It's cheap ins basically. We always go by FMV (fair market value) on autos and bikes in the case of a total loss. The adjuster for this place is dickin you over. Plain and simple. When an adjuster gets a claim on his desk, he reviews all the info and sets a starting, target, and reserve amount on the settlement amount. Only thing I can suggest is find what you can in/around your area of the same bike for sale, then politely ask him/her to grab their ankles, then proceed to shove the proof up their arse till they get the point. Can all be done w/o a lawyer. But know that if you do get a lawyer, the ins company will not speak with you directly at that point. All comm will be via the attorney which may be a hassle.

 

[Vette73]

Originally posted by: codeyf
I work for an auto ins company. Part of Safeco, but it's their "non-standard" product called insurQuest. Basically the cheap stuff for high risk people. It's cheap ins basically. We always go by FMV (fair market value) on autos and bikes in the case of a total loss. The adjuster for this place is dickin you over. Plain and simple. When an adjuster gets a claim on his desk, he reviews all the info and sets a starting, target, and reserve amount on the settlement amount. Only thing I can suggest is find what you can in/around your area of the same bike for sale, then politely ask him/her to grab their ankles, then proceed to shove the proof up their arse till they get the point. Can all be done w/o a lawyer. But know that if you do get a lawyer, the ins company will not speak with you directly at that point. All comm will be via the attorney which may be a hassle.

Yea I don't like to be out of the loop. I am going to fax abotu 5-7 of those listings that show 86 Hinda shadow go for, and also send a letter saying what I want and what I expect. I am also going to mention that they have not brought up repayment for my clothes that were cut off and sunglasses, etc....

Thanks

 

[Ylen13]

Originally posted by: Marlin1975

Originally posted by: codeyf
I work for an auto ins company. Part of Safeco, but it's their "non-standard" product called insurQuest. Basically the cheap stuff for high risk people. It's cheap ins basically. We always go by FMV (fair market value) on autos and bikes in the case of a total loss. The adjuster for this place is dickin you over. Plain and simple. When an adjuster gets a claim on his desk, he reviews all the info and sets a starting, target, and reserve amount on the settlement amount. Only thing I can suggest is find what you can in/around your area of the same bike for sale, then politely ask him/her to grab their ankles, then proceed to shove the proof up their arse till they get the point. Can all be done w/o a lawyer. But know that if you do get a lawyer, the ins company will not speak with you directly at that point. All comm will be via the attorney which may be a hassle.

Yea I don't like to be out of the loop. I am going to fax abotu 5-7 of those listings that show 86 Hinda shadow go for, and also send a letter saying what I want and what I expect. I am also going to mention that they have not brought up repayment for my clothes that were cut off and sunglasses, etc....

Thanks

out of loop? I talk to my lawyer daily sometimes even twise a day regarding my case. So unless you get attorney that don't like to talk to there client you can pretty much know everything as its happening. Not sure if my cituatio is different as i know the lawyer for the last 10 years or so.

 

[Fausto]

Another vote for getting some legal help.

I was run over on my bicycle years ago (not my fault). Trashed my bike and banged me up pretty well. As soon as I told the insurance company that their policyholder had crushed a handmade $2500 bike, they started trying to jerk me around and lower that figure. Guy gave me some line about how they'd have to treat the bike like a motor vehicle since it was so expensive and assign a depreciated value to it, blah, blah, blah. I spoke with an attorney friend of mine who basically outlined all the interesting things I could sue them for and for how much (about 5 times the value of the bike total).

They were extremely cooperative the next go-round after I relayed all this info to them. I got the $2500 for the bike, got to keep the bike to scavenge the un-smashed parts, and got an extra "shut-up-and-go-away" check for $500 on top of everything. :beer: