split my frame, bike totalled.
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Tourer
Joined: Aug 2009
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Headed out with my mechanic in the morning. He mentioned that when a bike is totalled for a bs reason a lot of times the insurance company will let you buy the "wreck" back from them. I'm hoping this is the case, as the bike means a lot to me. i'm hoping if this is true the combination of it being a couple years old and having a split frame will keep the price down.
Last edited by EvilWayz; Sep 21, 2009 at 09:28 PM.
Road Warrior
Joined: May 2006
Posts: 1,650
Likes: 539
From: BHC, Arizona
So what you are saying is you have a bike you owe 5 grand on that is totaled, a wreck. Your ins. is going to pay the bike loan off, pay you the difference in value, probably a reall lowball amount and you want to buy the wreck back from the ins. company. They are NOT going to give you that bike, especially if one of the ins. co employees has their eyeball on it. You might want to take the cash you receive and think about rolling down to the dealer, throwing that down on a late model used bike, heck you already owed 5 grand on the old bike, sounds like you can afford the payment. At least you will avoid all the BS of the salvage title.
AP
AP
Ultimate HDF Member
Joined: Feb 2008
Posts: 7,217
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From: Southern Ohio
Headed out with my mechanic in the morning. He mentioned that when a bike is totalled for a bs reason a lot of times the insurance company will let you buy the "wreck" back from them. I'm hoping this is the case, as the bike means a lot to me. i'm hoping if this is true the combination of it being a couple years old and having a split frame will keep the price down.
I was t-boned a few years back, and the bike was totalled with a bent frame and other damages...the ins. agent said I had first option to purchase the bike back at salvage price...that's when I first found out that Harley salvage prices are considerably higher than any other bike...
Outstanding HDF Member
Joined: Oct 2007
Posts: 3,450
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From: El Cajon Ca.
It's your bike you have a right to it back if you want it. I just went through this back in May. I totaled my bike and bent the frame. it's common with baggers for the frame to bend right where the crash bar is mounted. My bike was beyond fixing as it was a 70 mph crash and it tumbled over and over for a hundred yards. I have seen bikes that only had a slight bend where the mount is though and they got totaled for it. Buy it back for cheap and weld it up. Take the rest of the money and do what you like with it. I had to argue for a week with my insurance before they gave me what I wanted for mine. It was an 04 e-glide classic with 75,000 miles on it they ended up giving me $16,000 for it. I turned around and bought my 03 with a new motor for $9,400. Had money to put into it left over. Here's my 03.
Club Member
Joined: Nov 2007
Posts: 4,474
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From: Port Charlotte, Florida
my dad in 2001 went down on his 79 shovel had 20 miles on a complete frame up restoration. INsurance wanted to total it out with salvage title dad fought it and bought the bike back from the insurance with a clear title. Put a chrome front end on it and more chrome with money he got and the bike is sweet.
Buddy just wrecked a v star and the insurance company totaled it out and it was ridable but not worth fixing to them he bought it back cheap and we fixed it for $100 bucks and he had to have it inspected at the state highway patrol and its back on the road with few dents in the tank and scuff marks but basically he has $500 bucks in a bike he did have $4,500 in They paid it off came out clean on the loan and then bought it back for $500 and put $100 in it so i guess $600 in it.
It can be done it just depends on the damage and how greedy the insurance company is on what they want you to pay to buy it back.
Buddy just wrecked a v star and the insurance company totaled it out and it was ridable but not worth fixing to them he bought it back cheap and we fixed it for $100 bucks and he had to have it inspected at the state highway patrol and its back on the road with few dents in the tank and scuff marks but basically he has $500 bucks in a bike he did have $4,500 in They paid it off came out clean on the loan and then bought it back for $500 and put $100 in it so i guess $600 in it.
It can be done it just depends on the damage and how greedy the insurance company is on what they want you to pay to buy it back.
Thread Starter
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Tourer
Joined: Aug 2009
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So what you are saying is you have a bike you owe 5 grand on that is totaled, a wreck. Your ins. is going to pay the bike loan off, pay you the difference in value, probably a reall lowball amount and you want to buy the wreck back from the ins. company. They are NOT going to give you that bike, especially if one of the ins. co employees has their eyeball on it. You might want to take the cash you receive and think about rolling down to the dealer, throwing that down on a late model used bike, heck you already owed 5 grand on the old bike, sounds like you can afford the payment. At least you will avoid all the BS of the salvage title.
AP
AP
Last edited by EvilWayz; Sep 22, 2009 at 12:17 AM. Reason: add pixture
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Outstanding HDF Member
Joined: Aug 2008
Posts: 2,951
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From: Kingman, AZ
Have you and the ins adjustor looked it over yet? (together) Seems like he/she could turn in a very low loss and get out of the claim pretty cheap if that's all that it needs. Weld a tab, not actual frame, replace engine guard. Look good to Boss and you are on your way.
I'm sure it does still happen but pretty risky for an insurance agent to total a bike looking for personal gain. Especially in todays economy and most companies bean counters keeping a close eye on transactions. Just my $0.02
I'm sure it does still happen but pretty risky for an insurance agent to total a bike looking for personal gain. Especially in todays economy and most companies bean counters keeping a close eye on transactions. Just my $0.02
