Cost to buy back from insurance

[Dopey]

Just curious if anyone has had the unfortunate pleasure of having to buy their busa back from the insurance company and of so what did you pay for it? My buddy went down on his 2019 last night and it looks like every fairing is damaged as well as the nose and I know the forks are leaking and pretty sure their bent so I'm pretty sure it's gonna get totaled out so we're looking at what possible options are. But depending how everything goes we might just be looking for a gen 3 for him

 

[pashnit]

Add up what it'll cost to fix/replace and compare that number against what your insurance is offering.

Often cheaper to take the insurance money and just get another Hayabusa.

 

[c10]

Back in the day buy back use to be dirt cheap , however with technology in the salvage world the insurance company tends to make some funds back .
Example my sons 2012 40,xxx mile super tenere was crashed by new owner before title transfer was completed. They paid out 7200 usd , and buy back was high 3,xxx . Damages to replace/ repair by me was still 3K for parts @ my lower labor rate . In the end they kept the Yamaha, and paid out .

By the way I'm sad to here your friend crashed. I assume he is okay since were talking bike shopping.

 

[Dopey]

Add up what it'll cost to fix/replace and compare that number against what your insurance is offering.

Often cheaper to take the insurance money and just get another Hayabusa.

That is kind of the plan but depending on what the payout would be and what it would cost to buy it back im thinking this maybe a good option to make more of a show bike (fat tire and lots of chrome) that he originally bought the bike for before I introduced him to some friends that actually ride and talked him into keeping it mostly stock with the right mods.

 

[Dopey]

Back in the day buy back use to be dirt cheap , however with technology in the salvage world the insurance company tends to make some funds back .
Example my sons 2012 40,xxx mile super tenere was crashed by new owner before title transfer was completed. They paid out 7200 usd , and buy back was high 3,xxx . Damages to replace/ repair by me was still 3K for parts @ my lower labor rate . In the end they kept the Yamaha, and paid out .

By the way I'm sad to here your friend crashed. I assume he is okay since were talking bike shopping.

Yes he's a little sore and bruised up, haven't got the whole story from him but basically a car turned in front of him and said they didn't see him,i actually think I got the wise end of it since i ended up losing a nail in the front rotor when my hand slipped when we loaded it .He is a new rider and this was his first bike and I've been trying to teach him what I can but he has a few friends that like to teach bad habitsbut overall been doing pretty good. He's ready to come out of pocket and just fix it without the insurance company if it's not over 4 or 5k but I'm thinking that maybe just getting the insurance money and getting a new bike might be best for now unless the buyback thing is cheap enough then we'll make his show bike. I think he may have bumped his head a little hard because when we started talking new bike he said something crazy like buying a pooppy s1krr. But after realizing he just likes the idea of the electronics I started pushing toward the gen 3 which I'm hoping will happen because the mechanic ALWAYS gets to test ride. Once he figures out the insurance part I'll help him plan his next move but I'm just trying to get some ideas and learn something about it all.

 

[Dopey]

Not the best pic or angle and I didn't snap anymore today but he's holding the bars straight and that tire is a bit more crooked then the pic shows

 

[c10]

View attachment 1635283
Not the best pic or angle and I didn't snap anymore today but he's holding the bars straight and that tire is a bit more crooked then the pic shows

Forks are rolled in clamps . Basically out of square.

 

[fallenarch]

Yes he's a little sore and bruised up, haven't got the whole story from him but basically a car turned in front of him and said they didn't see him,i actually think I got the wise end of it since i ended up losing a nail in the front rotor when my hand slipped when we loaded it .He is a new rider and this was his first bike and I've been trying to teach him what I can but he has a few friends that like to teach bad habitsbut overall been doing pretty good. He's ready to come out of pocket and just fix it without the insurance company if it's not over 4 or 5k but I'm thinking that maybe just getting the insurance money and getting a new bike might be best for now unless the buyback thing is cheap enough then we'll make his show bike. I think he may have bumped his head a little hard because when we started talking new bike he said something crazy like buying a pooppy s1krr. But after realizing he just likes the idea of the electronics I started pushing toward the gen 3 which I'm hoping will happen because the mechanic ALWAYS gets to test ride. Once he figures out the insurance part I'll help him plan his next move but I'm just trying to get some ideas and learn something about it all.

Why come out of pocket when someone else turned in front of you? When a drunk ran me off the road and totaled my bandit the insurance company couldn't stop throwing money at me. They were petrified I was going to show up in court with a neck brace! Anyway, I would take the payout and be done with it. If all the fairings are damaged there is no telling what is bent or damaged.

BTW: A new BMW S1000RR is cheaper than a Gen 3 and faster and better handling. It's not as spacious as a Busa, but also not one of those 600's with a 1K engine a lot of manufacturers are putting out.

Just my take on it.

 

[BlueBacon]

Not to highjack, but does medical insurance or motorcycle insurance cover the hospital bills if you are in a crash? I have great motorcycle insurance, but no health insurance

 

[michael parris heuberger]

Not to highjack, but does medical insurance or motorcycle insurance cover the hospital bills if you are in a crash? I have great motorcycle insurance, but no health insurance

Hi. Sorry for him. Back in 92 I I bought a crashed ZX 11 I $1,000.00 It had 400 miles on it. At work girl backed into it. It was totaled $4.400.00 in damaged. Bought it back for $200.00, fixed for under $100.00. Same bike 30 some days later bike was in front of the insurance agent srore it was hit by an old lady agent saw it as I had my to out to the street. He got the plate number. Insurance payed me $4,600.00 bought it back for $250,00, but I had it sold for $4,500/00 I took $1,000.00 off for the scratches. That bike made me over $10,000.00.

 

[Dopey]

Forks are rolled in clamps . Basically out of square.

I kind of figured that but the amount that they are off compared to some bikes I've dealt with is crazy. Like I said the pic doesn't show it real well but if I end up doing the work that'll be the first place to start after stripping the fairings because I know at least one fork is leaking for sure.

 

[Dopey]

Why come out of pocket when someone else turned in front of you? When a drunk ran me off the road and totaled my bandit the insurance company couldn't stop throwing money at me. They were petrified I was going to show up in court with a neck brace! Anyway, I would take the payout and be done with it. If all the fairings are damaged there is no telling what is bent or damaged.

BTW: A new BMW S1000RR is cheaper than a Gen 3 and faster and better handling. It's not as spacious as a Busa, but also not one of those 600's with a 1K engine a lot of manufacturers are putting out.

Just my take on it.

I think he really just wants his bike back up and riding so if he has to pay he doesn't care but I told him the same thing as far not paying out of pocket.

But an s1000 wouldn't be a busa

 

[Dopey]

Not to highjack, but does medical insurance or motorcycle insurance cover the hospital bills if you are in a crash? I have great motorcycle insurance, but no health insurance

Michigan is a real weird state with our insurance, they actually just revised it so that if you carry medical insurance that will cover an accident you can opt out of that part of your auto insurance and save a large amount on the ridiculous premiums we have. But for the most part here the auto insurance pays.