my 06 750 was declared a total loss by allstate. they said its only worth 8500. the adjuster said that because he can't read the odometer he can't verify the miles on it so he used a standard mileage deduction. the bike was only 3 months old with less than 2k miles on it. the bike cost about 10k. what would you guys do.
Depends, what are you wanting to do? If the frame is bent I would just get a check from the insurance company and walk away. I doubt you will be able to prove the low mileage of the bike unless you had an oil change done right before you crashed and they wrote down your mileage.
And check this out: http://www.kbb.com/kbb/OtherVehicles...ufacturerId=48
That bike is only worth around $8000 and the expected accumulated mileage is 3700miles. So if they are willing to cut a check for $8500 you might be getting more than its worth.
Were there any mods to the bike? If so and you have receipts of how much you paid, you should be able to get them to throw in a portion of what you paid.
When you crashed did you break/scratch your helmet? If so they should cover a new (same model) helmet FULLY if you are in a state that requires helmets.
If you are wondering how I know, I crashed about a year ago so I know a couple of ways to work the system.
the only thing left mainly intact on the bike is the engine. handel bars, tank, plastic, pegs, everything has some sort of damage if not completely off the bike now. the spokes even broke off the wheels. if it weren't for the axels the rims would be off the bike. i did get the tire and wheel package . i thought i could take the damaged ones off the bike and get new ones from my wheel package then sell them. i was thinking the same thing about their first offer, no way. can i scare them by saying i'm getting a lawyer and they can argue the value with him if they don't raise the offer.
i dont think a lawyer is the answer yet, and dont go off of kbb for a value. I had a 2006 r6 and i totaled it just pretty much scratching everything on one side, i did not think it was goin to be totaled at all. On my bike my insurance company said since the bike was fairly new (27 days) they would only deduct 25 cents a mile and any upgrades up to a 1000 dollars attached to the bike i would be reimbursed for but as for my helmet they did not cover it and they aren't budging. They are also not budging on giving me money for the tire package i had since that warranty has to stay with the bike. and yes as everyone else has been saying they are negotiable on some things but remember they got time and im assuming you are probably wanting to settle so you can recieve your money. hope this helps
i'm not in too much of a hurry to get a settlement. i still have my other bike. i got it up and running this weekend. i don't want to wait forever, but if i can get more money from them for waiting a little while i will. i only paid 9200 for the bike so i'd like to get around 9 grand for it.
I totalled out a 2005 gsxr 1000 and they said they would give me 7000 and I keep the bike or 8000 and they take it. Since the frame and forks were still in perfect condition I chose to take 7000 and keep the bike. I still get to ride it everyday and now its just a streetfighter. But see if they have some kind of offer like that becasue when its totalled they will usually give you the option to keep the bike.