bike possibly totaled

[Mr. Anderson]

well just got off the phone with the insurance company, they are going to submit it to the total's claim area to see what the bike is worth and if the bike is salvageable. here's what I know, dealership claimed $7,947 to repair the bike that's parts and labor.  the kicker is they are saying there is frame damage. not sure where that is coming from other than when I talked to the dealership they mentioned the broken bolt from the fairing mounting point on the center frame bolt( in pic in reference post), is that one a structural point? I can easy out that, and at worst, tap and die and time-sert it.   where the bolt head broke off looks like it made a decent knick next to the bolt hole, but frame damage!?

I also know that the insurance co. can pay up to the market price of the vehicle to get it repaired. the thing is they don't know the real market price yet that's why my claim went to the total's department to see the price .  I'm gonna rack my brains thinking this over this tonight?. anyone out there have a situation like mine happen? what happened? I don't want them to total it! I have already grown to love the dang thing!

 

[badassbusa03]

you can always buy it back and repair. the only down fall there is "Salvaged Title" which will kill the resale value if you ever decide to sell it

 

[Mr. Anderson]

would rather not do that, but how does that exactly work? especially since I still owe on the bike

 

[badassbusa03]

you would still be responsible for the remaining balance of what is not covered / payed off by the insurance co. that is why on cars, its always good to get what they call "GAP INSURANCE" which covers what is not paid by insurance in the event of somethnig like this

 

[Mr. Anderson]

well, I 'm not upsidedown, yep heard of gap, so they pay off the bike then I take out another loan on the bike? what do they usually sell a wrecked bike for? somehow that doesn't sound like something I would want to do for a salvage title.

 

[Mr. Anderson]

edit.- dp

 

[Mr. Anderson]

edit/triple post- what the heck is the board doing to me?

 

[badassbusa03]

i doubt that the ins co would pay it off and make you take out another loan to pay them, but you may have to do another loan to pay it off with the current loan holder. the ins co would have to get the title,and couldnt until paid off

 

[dadofthree]

I knew that's where you were headed. They don't play with damage to the frame not even a bad scratch because of the possibility of failure and the liability involved.

 

[turb06LE240]

I had a TL1000 that was totaled by the insurance company, I bought it back off of them for $128 and then, fixed it for around 500 then becuase it was still registered and insured I drove the bike for another couple years before selling it for 2700 on ebay with a slavage title.. Not sure if this was overlooked or what but the bikes reg was neve revoked and the title was never taken from me, I just kept renewing... Good luck

 

[Mr. Anderson]

update. insurance totaled it. paying me for $9859. for it. that includes the hindle exhaust I put on it. now that they adjusted it, I cannot take it off. rats.

 

[CAT3]

Is there a buy back option? If so, might want to look into that or let someone interested know... I'd like to pick me up a Busa engine/trans combo.

Sorry to hear the Busa being a total loss though.

 

[Fate]

I have a 06 and mine was considered totalled. I got a check for 10,200 minus the deductable for 1,000 and paid the bike off which I owed 6,000 and and then bought it back cor 3,000. so owed nothing currently. fixed the bike back up for a couple grand. so got a almost perfect 06 for 5,000 dollars. I did it fast and it somehow was not switched to salvage title.

 

[Fate]

If you do not buy it back, pm me and I will buy it. I just need the adjusters #. Let me know. Ir if you have questions pm me and I will send you my number and I will try to explain how my deal went more in depth.

 

[Somebody1010]

sorry to hear about the bike. just get an 08 now