Insurance Woes... - Honda Shadow Forums : Shadow Motorcycle Forum
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post #1 of 18 (permalink) Old Yesterday, 08:19 AM Thread Starter
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Location: SW Georgia Between Americus & Beuna Vista - Plains & Ellaville - Preston & Andersonville
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Insurance Woes...

I`m not real experienced with "insurance company dealings" and I am open to advice from those who`ve dealt with it...
My estimate came in yesterday @ $2700 to repair my Baby...
I know I only gave $2000 for it back in 2007, so I`m figuring it`s a total loss to the insurance folks...
I`ll go look at the bike again today and eliminate a few items to be replaced on accountta I`m not one of those who the bike "Needs to be perfect" to ride...

I imagine the next step is > the insurance will be in touch with me to settle this matter, so I`m asking our insurance experienced Gurus for your advice...

I`m thinking > I`ll only replace the necessary items such as handlebars, (IF needed) front fender and front turn signals (only if I can`t repair them myself) and for me to do the work which will eliminate $637 labor

Hoping State farm will pay for these items and I can keep my Baby...
However> Yesterday, I looked at a "twin' to my baby which costs less than the estimate to fix mine...
Thanks @smilie

So let me have it!
Lets hear the good, bad & ugly(unexpected)


I`ve already gotten some leads on parts from our members who`ve graciously offered

What`s 1998 VT750ACE worth anyhow???

Therapy is painful, BUT I`m progressing,
D

`98 VT750 A.C.E.
Motorcycle Rider Rights Activist
ABATE member 40+yrs.
www.ABATEGA.org
(DC District 13)
www.mrf.org
www.MSF-USA.org
http://www.ama-cycle.org/
http://www.bikerrogue.com/Articles/Biker_Rights/History_of_Abate/history_of_abate.htm
Enjoying Life,D




Last edited by "Captain D"; Yesterday at 08:22 AM.
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post #2 of 18 (permalink) Old Yesterday, 08:52 AM
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Just take their $2700 and get you another bike. Itís that simple.


Donít take life too seriously. You will never get out of it alive.

Just Ride...



2003 Harley Davidson Sportster (RIP)
2006 Suzuki GZ250 (traded)
2012 Honda Shadow Phantom (traded)
2014 Victory Cross Country (current)
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post #3 of 18 (permalink) Old Yesterday, 09:12 AM
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Model: VT750CA Aero
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Depends on how attached you are to that bike. If there is a strong emotional attachment to it, use their money to fix it, and pocket the rest. Other wise you will be miles ahead in time by just getting another bike.

Glad to hear you are healing!

Trinity my 2007 Honda Shadow Aero
1971 Toyota FJ40 Land Cruiser

I'm nobodies slave, I'm nobodies master,
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post #4 of 18 (permalink) Old Yesterday, 09:40 AM
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I agree with Theja1.

I'm in a different country but a recently had to face this situation with a car I was attached to and had sunk time and money in.
Ending up with a vehicle with a salvage or repaired title for a situation that was not of your making sucks and can have further cost ramifications down the road.

Make the best deal you can, get another bike with a clean (not salvage) title.

Buy back the old one if it is cheap enough and has value in parts, it will now probably have a salvage title.
Otherwise let it go.

If I lost my '99 750ACE to an accident I'd probably pick up the same again, they are relatively inexpensive, it is a great combination, that Honda didn't manage to replicate with later offerings. I'm not a shaft drive fan, the dual carb engine can be more fun.

I know in my case I'd want to be salvaging the modded components of my current bike and that would have some value to me.
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post #5 of 18 (permalink) Old Yesterday, 11:04 AM
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Quote:
Originally Posted by Theja1 View Post
Just take their $2700 and get you another bike. It’s that simple.
You will get what the bike's value is, not the $2,700 estimate to repair.
If they value the bike @ $1500 (no idea what they will value it at), you take $1,500 and they get the bike. You can go to arbitration if you feel the bike is worth more, but you have to back it up with proof, and that rarely is successful. Classic, rare bikes, completely custom bikes can sometimes get more value, but your bike was nothing special in their eyes, just a 20 year old mass produced bike.
If they total it, you can many times buy it back from them for 1/3 the price and then fix it yourself and may be able to have a little money left in pocket.
But then your stuck with a bike with a salvage title and will be worth 1/2 of what you just put into it. And may never ride right depending on damage.

IMO, take the cash and find another bike. If there are any aftermarket parts on the bike that want, most times you can go get them off before it goes to the insurance company (things like a windshield, saddle bags, etc).

1994 VT1100C
Starfire 185/65/15 rear tire (Darkside)
Perilli MT66 Route 110/90/19 front tire
Progressive 430HD Rear Shocks
Mustang Seat
National Cycle Windscreen




Last edited by blupupher; Yesterday at 11:06 AM.
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post #6 of 18 (permalink) Old Yesterday, 11:24 AM
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Quote:
Originally Posted by blupupher View Post
You will get what the bike's value is, not the $2,700 estimate to repair.
If they value the bike @ $1500 (no idea what they will value it at), you take $1,500 and they get the bike. ).

They value it at at least $2700 or they would have totaled it.



Donít take life too seriously. You will never get out of it alive.

Just Ride...



2003 Harley Davidson Sportster (RIP)
2006 Suzuki GZ250 (traded)
2012 Honda Shadow Phantom (traded)
2014 Victory Cross Country (current)
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post #7 of 18 (permalink) Old Yesterday, 11:35 AM
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I have many salvage vehicles, cars, bikes and even trailers. As long as they are properly repaired the only difference is one line on the paperwork. Not every state allows you to register a rebuilt salvage vehicle however so look into that before making a decision. I would buy the bike back if it was written off and use the money to fix it and have money left over for custom work.
4 years ago I went to the lake with my family. We packed in the beach lot and went down and found a spot. My daughter had forgotten to grab her life jacket so I went back to the car. We had been there for 10 to 15 minutes and I was shocked to see the entire right side of my car caved in. Both doors and the quarter panel were smashed in and I found a note on my windshield explaining that some guy had hit my car while trying to turn around his boat trailer ( which should have been in the boat launch parking not the public beach parking) He left his info and insurance covered the damage. The issue: They wanted to give me 10 grand for a car I paid 20 grand for less than a year before. I decided to take a settlement of 75% of my claim and my car back to repair myself. I fixed it my way and this os what the car looks like todayClick image for larger version

Name:	Screenshot_20190612-083816_Gallery_1560353916059.jpg
Views:	20
Size:	82.3 KB
ID:	263302 Hard to tell from the pics but the silver is a very coarse metal flake and glistens like a million diamonds in the light. If youre not concerned about resale value the salvage status is just some words on a piece of paper.

🏍
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post #8 of 18 (permalink) Old Yesterday, 10:16 PM
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Quote:
Originally Posted by Theja1 View Post
They value it at at least $2700 or they would have totaled it.
Quote:
Originally Posted by "Captain D" View Post
...
My estimate came in yesterday @ $2700 to repair my Baby...

I imagine the next step is > the insurance will be in touch with me to settle this matter, ...
Estimate for repair was $2700 (sounds like from shop, not insurance company), he still needs to meet with the insurance company to find out what they are going to do...
He does not know what the insurance company values the bike at.

At least that is how I read it.

1994 VT1100C
Starfire 185/65/15 rear tire (Darkside)
Perilli MT66 Route 110/90/19 front tire
Progressive 430HD Rear Shocks
Mustang Seat
National Cycle Windscreen



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post #9 of 18 (permalink) Old Yesterday, 10:25 PM
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Quote:
Originally Posted by blupupher View Post
You will get what the bike's value is, not the $2,700 estimate to repair.
If they value the bike @ $1500 (no idea what they will value it at), you take $1,500 and they get the bike. You can go to arbitration if you feel the bike is worth more, but you have to back it up with proof, and that rarely is successful. Classic, rare bikes, completely custom bikes can sometimes get more value, but your bike was nothing special in their eyes, just a 20 year old mass produced bike.
If they total it, you can many times buy it back from them for 1/3 the price and then fix it yourself and may be able to have a little money left in pocket.
But then your stuck with a bike with a salvage title and will be worth 1/2 of what you just put into it. And may never ride right depending on damage.

IMO, take the cash and find another bike. If there are any aftermarket parts on the bike that want, most times you can go get them off before it goes to the insurance company (things like a windshield, saddle bags, etc).
This......

Glad to hear that you're physically improving!
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post #10 of 18 (permalink) Old Yesterday, 10:34 PM
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Insurance Woes...

Quote:
Originally Posted by blupupher View Post
Estimate for repair was $2700 (sounds like from shop, not insurance company), he still needs to meet with the insurance company to find out what they are going to do...

He does not know what the insurance company values the bike at.



At least that is how I read it.


Who knows. Iíve never gotten a quote for an insurance company. They have always gotten them for me. Thatís what I pay them for....they have never paid me to work for them.

At least, that is how I read it.

Donít take life too seriously. You will never get out of it alive.

Just Ride...



2003 Harley Davidson Sportster (RIP)
2006 Suzuki GZ250 (traded)
2012 Honda Shadow Phantom (traded)
2014 Victory Cross Country (current)
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