Insurance - Total Bike Value - Questions

[jdbrown12]

no - reason being you could say that someone had all this stuff done to a bike/car and try to get the money after vehicle was wrecked. If you are not paying to protect your add ons they will not pay to replace them even if you have receipts/docs.

the only thing you could argue would be that your ride was in better condition or higher value because of care it was given. but with this bike being an 07 and 30K miles...that wont fly.

 

[sessions]

was it your fualt or the other parties?

if its there fault they owe you for everything done to your bike. I JUST WENT THROUGH THIS. they came and got my bike yesterday. my bike an 05 valued at 8200, and they gave me about 3500 for all my mods, so i got a total of $11800. if it was your fault im not sure, all i know is you have to pay an extra premium for after market stuff...

 

[Destin07]

If you have reciepts and show proof that you have the parts "obviously they are on your bike in possession of the insurance company" then you should be reimbursed the cash value of your bike+a good junk of your extras....IF YOU ADDED THE VALUE TO YOUR CONTRACT. So if you have full insurance on your busa and you buy a $1500 exhaust. You should have gone online or to your local insurance agent and added this accessory to your contract. It might have made your contract go up $1.50 a month. In the event of a crash or even worse a good chance of theft...I think its well worth it if you have extras on your bike

 

[09GraySilverBusa]

If you still had the bike and tried to sell it you could not get that much for it in a million years. Take the money and run

 

[k03gsxr750]

Right, but there is issues here. Some of these parts may need to be taken off by a professional....since some I did not put on. Not everyone is going to be able to take off all the parts like I have....there are too many.....than what I do when I take them off....yes...ebay.....but I don't want to deal with the hassle.....and than if I get new bike it will be a 2nd gen busa....these parts may not fit that bike......if I have to hire someone to take some of these off....than where is the profit...?

Its not nearly as hard to take something off as having to put it on correctly and safely. Don't worry about not being a professional, the bike is a total lose use the chance to learn how some of that stuff goes on.

 

[Busacure]

Statefarm wont let me add additional coverage for aftermarket parts or just to make sure my loan is covered. I just spoke with the local agent yesterday when I was switching to them with all my vehicles. I was surprised when she told me to just keep the receipts. Doesn't make sense to me that an insurance company would do that without bleeding me for a little more.
Take the money. Try to keep a strait face when they hand you that check.

 

[Taylor]

Statefarm wont let me add additional coverage for aftermarket parts or just to make sure my loan is covered. I just spoke with the local agent yesterday when I was switching to them with all my vehicles. I was surprised when she told me to just keep the receipts. Doesn't make sense to me that an insurance company would do that without bleeding me for a little more.
Take the money. Try to keep a strait face when they hand you that check.

That is the same thing my insurance said (state farm) about my old M109R, I had about $6000 grand in extras, I wanted to up the policy he said you dont have to just show reciepts and we will pay on it. I told him that sounds dumb and why would they not make me pay more, he said they will probally do that in the future but right now thats how it works,


I had it in writing from agent becasue I did not believe them.

 

[Destin07]

Statefarm wont let me add additional coverage for aftermarket parts or just to make sure my loan is covered. I just spoke with the local agent yesterday when I was switching to them with all my vehicles. I was surprised when she told me to just keep the receipts. Doesn't make sense to me that an insurance company would do that without bleeding me for a little more.
Take the money. Try to keep a strait face when they hand you that check.

Never trust an insurance company's word. I would not simply keep my receipts and think that they would cover them. If its not on paper then you can bet they aren't going to give you that 5K in extra parts if they don't have to. I mean in a year if you crash or your bike gets stolen you can't just walk up in there and say "hey well the girl told me just to keep my records". Not arguing with you here just trying to look out for you interest. I've had a friend that crashed a bike with state farm with ALOT of extras and he had receipts and got only what the value of the bike was worth. Seen a guy get reimbursed through progressive for 90% of his 9K in aftermarket parts, exhaust, filter,power commander, race suspension, magnesium aftermarket wheels ect...

 

[head east busa]

uninsured is easy if someone doesn't have insurance your covered there are usually two kinds of uninsured one with a dollar limit and another with no limit that waives your deductible. the uninsured limit can be low like $3500.00 so you end up getting screwed. underinsured is what kicks in when someone else's insurance limits do not fully cover your damages due to low limits underinsured kicks in on your behalf to cover you for the additional losses. if the other party is paying they owe you for your mods as long as you can show you had them and considering they will be taking te bike it should be pretty evident if it was your accident and there was no other party then it goes back to interpretation and a little negotiation. If you let the ins. co know about your add ons your good to go. If not you still may be able to get the value for items that are not performance mods. like your windscreen the swing arm etc. as they are needed items for the scoot to function. (well maybe not the windcreen but I can't imagine riding a busa w/o one )

 

[head east busa]

man I cannot spell today

 

[Busacure]

thanks destin and head east. no upgrades yet but I will take your word for it. Get it in writing, note taken, ty

 

[BusaWizard]

When my 04LE was totalled in 06 by an uninsured B!@#h (motorist), State Farm paid it off and gave me around 900.00 for my mods, I had more than that in the exhaust. I removed them anyway.

 

[In10SS]

You'd never get that much if you were selling your bike. In fact, almost the only time you can get full value for your bike is in a total loss valuation. Everyone knows you don't get your money back on mods, although some do have value to us in the biking comunity. The adjuster has to consider each of your additions and determine if it would actually add value in the market place. It the item is determined to be an "owner preferance" thing that does not add value, than you have the right to remove it and substitute the stock piece with no change in the settlement amount. Laws vary from state to state, but if you want any personal help, PM me. I'm an insurance adjuster. By the way, that $9400 would buy my bike -check it out in classifieds! (shameless plug)

 

[mvanlone]

Settled today. Including all my gear, towing costs and bike the total amount that I am getting back from insurance is $10,804.53. Am I happy....no, still wish I had my bike. But I am going to go from a 2007 to 2009 with very little money out of my pocket. I am still hurt on my forearm, elbow and shoulder. I am going to get me a new bike.