Busa Stolen

[k5fan]

Hey all,

My 03 Hayabusa was stolen in Atlanta last week. I picked it up in Jan. 04 at the dealership and since then have only ridin it for about 250 miles.
My problem is Allstate says that they will not be able to give me what I paid for it. They are saying they will only give me 6000-7000 dollars for it. WTF. I wont be able to replace it for that.
Have any of yall had any problems like this. If so, what did you do? Do they not have to give me enough to replace it? Please help me so I dont get jipped on this one and cant get a new busa. Thanks.

 

[gcal]

FUC# allstate
i hate those bastids
i only had problems with them also
cant stand them

 

[justintime2]

That sounds like bullshit to me. Don't accept that at all.

 

[jbusa]

If you do get a new one, I think you should leave all state in the dust.

 

[DanMan1300R]

You need to prove to them what the true market value is. Look for Busa's with similar mileage to yours for sale. Also there should be some kind of motorcycle blue book, right?

 

[dezzy7]

actually the year 03 may cause a severe depreciation no matter how long you have owned it. It will still be worth the 03 NADA book value minus you deductable..

ok now for the good news. My bike got stolen 5/26 and I'm dealing with an insurance claim as well. One of my close friends has been coaching me along -they use to be an insurance adjuster, so here's a ouple of points I'l pass on:

1. Remember the adjuster works for the insurance company and not you. They get greatreviews for saving the insrance company money --which means robbing you of yours.

2: When writing a detailed statement of the loss -use terms like "mint condition", "like new", "near perfect", etc.

3. Read your policy carefully and look for terms such as "vehicle and equipment", vehicle including equipment.

4. Don't be in a rush to settle. Most people settle to fast -be patient. If the adjuster senses you are looking for a real quick settlement they are going to offer something very low to see if you'll except it.

5. Remember time is on your side. The adjuster has a certain amount of days to close a case otherwise it gets red flagged, which doesn't help the adjuster performance reviews and can cause problems with the state regulator.

6. At any offer tell them you need to think and they should call you back. Which gives you time to think it over without being pressed

OK I hope this helps -- I'll let you know how this works out with my own claim

 

[Revlis]

Kelly Blue Book also lists prices of Motorcycles.  Check out KBB.com Click on the Motorcycles tab under "Powersports values" on the lower left of the screen. It should get you in the ballpark. DO NOT expect to get back what you paid. Remember you paid a fair bit of dealer profit, prep, and taxes and stuff. The Insurance company could give a poop about that. But you should still be in the 8K range I would think based on your description of the bike.
Also "For Future Reference" ask about GAP insurance. It's pretty cut and dried but it will cover the the GAP left between what the insurance company will pay out and what it costs to buy a New Bike. I've seen it used a few times by others to great effect.

Sorry about your ride Bro and like Dezzy says, be patient...

 

[bacharles]

That truly sucks!  We work hard for everything we want to enjoy in life and some a$$hole who doesn't want to do the same finds it easier to just let us work and let him reap the fruits of our harvest.  These guys should be strung up by their testicles.

 

 Anyway, motorcycle theft most be real hot in Atlanta because when I stopped for gas in Atlanta on my way to Myrtle Beach, this older guy was telling me and my buddies how popular it has become there.  And to think...I was planning a possible trip there for the Juneteenth celebration and bring my bike.  NOOOT!!



                                                Brian



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[Kento-Moto]

Good points Dez, just a note to add for the rest of us, some companies offer "Full replacement Value" for an extra charge of course.

and you may want to write a letter to the ins co. and show recent pics of the busa.

 

[Krieg]

Try www.nada.com for a better book value than the Kelly value. It is also the book most lending institutions use. As far as they having to give you enough to replace it, unfortunately no unless your policy is written for full replacement value. They have to give you book value only and this would go for a theft or wreck.



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[flyboy]

I have USAA and when I totaled my 2003 in Dec it took them less then a week to settle my claim and it was for $9500 and even covered my 500 deductible. I was one happy camper. USAA is the best!

 

[Charlesbusa]

You'll never get what you paid for it, but they are definately offer too little. To accept it, keep asking for managers, time, aka stall. They should eventually offer something better.

 

[BigDawg_03Busa]

NADA

Check these guys out also.

 

[ndufan]

my x was in the ins. buis. When my 1100 was taken from me allstate wanted to settle low. My x made a CALL TO THE INS. COMMISSIONER and after about 3 days we had no problem. didn't get replacement but did get good enough.

 

[GMbusa]

Fight it, i went through this in Feb 3,1993 when a foreigner that was in the country on her SECOND day and didn't know the laws or road signs, managed to pull in front of me totaling my 1956 Ford F100 show truck. Her insurance company first offered me $1100 and they keep the truck. I showed them pictures and average prices for 1956 Ford trucks and managed settling alot higher and i kept the truck.
I hate insurance companies. You pay and pay for YEARS with no incidents, then when something happens you have to fight to get what you pay for.



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[jwcfbd]

Sorry to hear about your bike good luck with the ins. company. Where was it taken from?

 

[jpw]

things like this scare me the most about owning a bike, well i dont think their gonna take my 1000$ gs500, well i sure hope not.... but when i move on to bigger and better bikes....

Why cant these bastages just earn the poop them selfs

I think we should form militia, shoot every one of them

 

[jumbo]

I had the same problem when I totaled my car. The ins offered me a price that was about a grand less than the cost to get a similar car with similar milage. I refused their offfer and went on autotrader.com and found several cars that were like mine. I printed out the cars and faxed it to the ins company and they adj. the claim to what I was asking for.


Do some homework go to cycle trader.com and look up the bike and see what they are going for. then show the ins. this is what it going to cost to replace my bike. Just because they make an offer it does not mean you have to accept it. If the agent does not want to work with you go to the next level. They are going to try to get out of it a cheap as possible.

 

[k5fan]

Thanks guys. So far your advice has been helpful. Hopefully I can get this worked out. Good thing I didnt have a lot left on the loan or I would be hurting.

 

[BigBSBusa]

As Rev said, the gap coverage should take care of any differences between what the insurance company pays and the cost of a bike. I hope I never have to use it, but I got gap coverage when I bought the 'Busa!