insurance adjusters
"Seeker of Freedom"
Joined: May 2007
Posts: 1,093
Likes: 2
From: Kansas City Area
i suspect every state and insurance company handles this differently and it all depends on whether you have a replacement value or current value policy. Some insurance plans will pay for all the extras you've added as well if you've documented them well with receipts and sometimes if you can just prove they're on the bike. Good luck and hope you have a good insurance plan.
Deal with adjuster: be polite, ask questions, make counter offers based on facts.
Deal with adjuster: be polite, ask questions, make counter offers based on facts.
Road Master
Joined: Dec 2007
Posts: 1,040
Likes: 2
From: USA
Congrats on surviving in one piece! I'm not an insurance adjuster, but I speak from my one personal experence. Without going into a lot of details, you can likely settle for some amount of cash and replace your bike yourself, or you may be able to choose to have your bike replaced by one of equal value (same year- similar miles for instance). An Insurance company can almost certainly get a bike at a better price than you can so replacing the bike might be a better deal- ask your local dealers! You might come out better replacing your bike with something used from the stable dealer's stable.
Remember that your settlement is a negotiation to which you are both parties- be ready to be both reasonable and active in the negotiation process- negotiate from a position of knowledge, not from a position of a poor dumb bastard that thinks he can get a brand new bike.
Your insurance co. should also give you a pro-rated cash settlement on the unused portion of tag, and excise taxs but you will likely have to ask (use any extended warranty your purchased as a negotiation chip).
Also, time is on your side- leave the claim open for as long as it takes to get a fair settlement and you dont have to take the first offer if it doesn't "make you whole".
Remember that your settlement is a negotiation to which you are both parties- be ready to be both reasonable and active in the negotiation process- negotiate from a position of knowledge, not from a position of a poor dumb bastard that thinks he can get a brand new bike.
Your insurance co. should also give you a pro-rated cash settlement on the unused portion of tag, and excise taxs but you will likely have to ask (use any extended warranty your purchased as a negotiation chip).
Also, time is on your side- leave the claim open for as long as it takes to get a fair settlement and you dont have to take the first offer if it doesn't "make you whole".
"Seeker of Freedom"
Joined: May 2007
Posts: 1,093
Likes: 2
From: Kansas City Area
I almost forgot, most insurances will pay for any protective riding gear you had on. Mine replaced my boots, chaps, jacket, gloves, and helmet this past spring. All were damaged. They paid replacement value for it all. It's cheap insurance to reduce future medical expenses from their point of view.
Advanced
Joined: Aug 2008
Posts: 94
Likes: 0
From: SoCal
I dealt with State Farm in California this year. A real class act.
They made me an offer, I said no, they raised it.
Let's just say I ate the bear.
Where did you hit deer in California, Santa's Village or a petting zoo?
Glad you're a winner, get back on asap.
We are waiting for your answers my friend, to better serve you.
They made me an offer, I said no, they raised it.
Let's just say I ate the bear.
Where did you hit deer in California, Santa's Village or a petting zoo?
Glad you're a winner, get back on asap.
We are waiting for your answers my friend, to better serve you.
Road Master
Joined: Oct 2007
Posts: 1,077
Likes: 1
From: The High Desert, SoCal
Insurance companies purchase third party computer systems (like CCC) that help them estimate costs in automotive/motorcye claims and collision repairs. Third party software supplies insurers with software and a database that helps determine the value of a vehicle. These systems have databases and systems that contain benchmarking tools to find the true value of a vehicle from repair shops and dealers. That said...do your own research and pull your owm comps so you are not accepting an offer less than what the actual cash value of your bike is.
In a nut shell... what would it cost in the relative market for a replacement bike of same make, model, year, miles and condition.
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Road Master
Joined: Jul 2008
Posts: 868
Likes: 51
From: Illinois
Isn't that what suggested retail price is?
Road Master
Joined: Aug 2009
Posts: 1,022
Likes: 3
From: Kewanee, IL.
OK I just went through this excat same thing last week! Had State Farm... hit a deer on my 07 SG. The H-D dealer est for repairs would be 20K. State Farm called me approx 3 days after the adjuster looked at the bike, and said the NADA value for my bike was only $16,200 which I thought was a little low but then she asked me about my accessories and aftermarket parts. I explained to the lady that I had tons of aftermarket parts on it so she asked me if I had receipts... I said no not for everything but I do have lots of pics. She then asked me if I could make out a list of the parts with an approx price of what I paid. So later that day I faxed her a list of parts that came to just under 9K. She called me back 2 days later and said they would pay 22K for the bike and then add what it would take to pay the taxes, title, and license on a new bike which totaled approx 1700. So they paid approx 24K for my bike! Which I was happy with! Good luck and glad your not to banged up!