Insurance will not repair

[madlyhs]

I just spoke to the Suzuki agent regarding my crashed bike repair cost and I was told that that they submitted the report to the insurance company and they (inurance company) will not repair the bike.

The agent told me that the cost of repair is about $10,000 and the insurance will either buy me another bike or pay me to buy a new bike.

This will be my Third Busa in four years time ( First one stolen , Second one crashed ) ; I have mixed feelings  about this cos I am attached to my bike and I did not think the bike was damaged that bad .

I was  told that  the chassis is damaged ,   I asked the agent about taking my Turbo kit as it cost me about $7000  he informed me that this is between you and the insurance company  and you need to sort out with them first . I did try to call the insurance company but the guy I need to talk to is not there, I hope I will be able to take the turbo kit without any problems.

The Turbo kit is listed in the insurance policy as customer addition and that’s what worries me cos they might just say No, you can not take it cos we are compensating you for the bike as per the insurance policy and here is a cheque for $11,000   .

I hope the insurance company  will  compensate me  fairly and allow me  to take all Turbo associated parts   (I will keep my fingers crossed )  

I will keep you updated



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[suzuki4life]

I just spoke to the Suzuki agent regarding my crashed bike repair cost and I was told that that they submitted the report to the insurance company and they (inurance company)  will not repair the bike.

The agent told me that the cost of repair is about $10,000 and the insurance will either buy me another bike or pay me to buy a new bike.

This will be my Third Busa in four years time ( First one stolen , Second one crashed ) ; I have mixed feelings  about this cos I am attached to my bike and I did not think the bike was damaged that bad .

I was  told that  the chassis is damaged ,   I asked the agent about taking my Turbo kit as it cost me about $7000  he informed me that this is between you and the insurance company  and you need to sort out with them first . I did try to call the insurance company but the guy I need to talk to is not there, I hope I will be able to take the turbo kit without any problems.

The Turbo kit is listed in the insurance policy as customer addition and that’s what worries me cos they might just say No, you can not take it cos we are compensating you for the bike as per the insurance policy and here is a cheque for $11,000   .

I hope the insurance company  will  compensate me  fairly and allow me  to take all Turbo associated parts   (I will keep my fingers crossed )  

I will keep you updated

I personally wouldn't had mentioned it. Unless the bike was ran when inspected, odds are they didn't even note nor will they even notice the turbo is gone. If it really worries you, then play the odds with the idea in mind the turbosystem COULD be damaged and they should be willing to write it off as a complete loss OR pay to have a turbobike based shop come evaluate it. Make the insurance company feel the bike is worth VERY little. Buy it back and remove your turbosystem. Then evaluate the remains and offer it as a package deal. ALLOT easier than trying to part it out yourself. Plus you get to make some extra cash AND even cover the buyback costs.

If you have "replacement costs" insurance policy. I'd worry more about getting dropped than whether or not my bike would be fixed.

 

[clrwtrbusa]

Unfortunately, most insurance companies put a max on the additions you add to your bike. Unless your bike was insured as either a show bike, custom bike or you had full replacement coverage, you will not get anything near what it is worth. With all the upgrades and turbo system, I insured mine as a show bike/custom and took all receipts to my agent along with pics.
Good luck, I hope it all works out for ya.......

 

[STUNNAH]

You could also take the turbo off and hand them the original exhaust...Their totaling the bike out...Buy back as mentioned before is another option...The reason they don't want to fix it is the repair cost it's cheaper and makes sense for them to replace the bike out right...I believe with the options that you have you will come out fine...

 

[justintime2]

Unless you bought a specific rider for the turbo my guess is they will not cover it and therefore it would be reasonable to assume that it is yours to take, provided you supply the original parts to replace anything that is missing. If they are calculating the turbo in as part of the value, which I doubt, then you cannot take it. If the later is the case, see how much to buy the bike back after you get a new one. This could offset the cost of a new turbo and you would have lots of parts to sell or for spares.

 

[madlyhs]

Yesterday I paid a visit to the Suzuki agent to verify the cost of repair and the parts that needs to be replaced. I found out that the chassis is fine and that's a relief, apparently the agent is charging $6000 for parts and about $4000 for installation.

I feel  the agent is trying to take advantage of this to make a killing e.g. the fuel tank has a small scratch that can be simply re-painted but the agent wants to replace it completely  that is way to much in my opinion.

I feel the appropriate cost for the parts that really need to be replaced should be around $3000 plus labor as many other parts can be re-used .

I told the agent if the insurance company is going to adequately compensate me I will take the Turbo and I will bring back the original missing parts. To my surprise the agent agreed and told me you can take the Turbo kit any time.

I am going to talk to the insurance company and see what kind of a deal I am going to get , I am sure the insurance company will try to screw me somehow.  If worse come to worse I will ask them to buy $3000 worth of the parts and I will do the installation myself.



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[madlyhs]

As I expected the insurance guys turn to be real SOB’s below is what they had to say to me:-


The insurance policy is $11,000 and the cost of repair is $10,000 therefore the bike will be scarped and the insurance will pay $4,400 only (They will keep the bike).

I was very shocked and disappointed in the compensation amount and told him how did you work this out?? He said it is very simple:-


1- Insurance policy value 11,000

2- Wear and tear is calculated @ 20% = $2200 therefore bike value = 8,800

3- Clause 7 of the insurance state, if no other party involved in the accident the insurance
Will pay 50% only

4- Therefore total amount of compensation is 8,800/2 = $ 4,400

Also the insurance company told me that they will cancel my current insurance policy without refunding me for the reminder of the insurance period which is 6 months! When I asked why? He referred me to clause 12 in the insurance policy (small print as usual the ones that you never read).

I told the guy this is my first claim in three years he replied so what! God they have very bad attitude.

Anyway I said to him the agent’s repair estimate is high and I can do it for less. He said ok brings us an estimate for less than $3000 and we will let you repair the bike; but do keep in mind that you will still have to pay 50% of that cost (That means the insurance will only pay $1500 max for repair).

I am trying to get the agent to give me an offer for the essential parts (within the $3000 range for repair). I will try to get the urgent work done first by the agent in order to get the bike out and do the rest of the repair later on.

I do not know why they call this fully comprehensive insurance it does not sound like one. I am very disappointed and I will need to find a better insurance company

 

[STUNNAH]

Their screwing you on the comprehension portion of the insurance...My policy paid for the entire damage on comprehension when I laid the other bike down...You need to recheck your policy in the categories that the agent mentioned and see if their are any flaws or misstatements in his reading of the policy...Get the estimate high so that if your still responsible for the 50% then you can minimize your out of pocket expense...I hope you can work this out...

 

[LS6]

Man, that is <span style='color:red'>BAD BUSINESS</span>...Sure sorry to hear you are getting the ole lube job! IF you don't mind sharing, what insurance company is this?

LS6

 

[suzuki4life]

As I expected the insurance guys turn to be real SOB’s below is what they had to say to me:-


The insurance policy is $11,000 and the cost of repair is $10,000 therefore the bike will be scarped and the insurance will pay $4,400 only (They will keep the bike).

I was very shocked and disappointed in the compensation amount and told him how did you work this out??  He said it is very simple:-


1- Insurance policy value 11,000

2- Wear and tear is calculated @ 20% = $2200 therefore bike value = 8,800

3- Clause 7 of the insurance state, if no other party involved in the accident the insurance              
    Will pay 50% only

4- Therefore total amount of compensation is 8,800/2 = $ 4,400  

Also the insurance company told me that they will cancel my current insurance policy without refunding me for the reminder of the insurance period which is 6 months! When I asked why? He referred me to clause 12 in the insurance policy (small print as usual the ones that you never read).

I told the guy this is my first claim in three years he replied so what!   God they have very bad attitude.  

Anyway I said to him the agent’s repair estimate is high and I can do it for less. He said ok brings us an estimate for less than $3000 and we will let you repair the bike; but do keep in mind that you will still have to pay 50% of that cost (That means the insurance will only pay $1500 max for repair).

I am trying to get the agent to give me an offer for the essential parts (within the $3000 range for repair).  I will try to get the urgent work done first by the agent in order to get the bike out and do the rest of the repair later on.

I do not know why they call this fully comprehensive insurance it does not sound like one. I am very disappointed and I will need to find a better insurance company

no way! if this is a comprehensive policy it is there to repair or replace the insured item and or to value of that of current market value. If you hit a deer (no other vehicle is involved) and you total the bike, they're telling you you're entitled to half your value?


CALL A LAWYER!

Soeak to them no further till you get some advise.

 

[suzuki4life]

BTW Never imply you'll do your own repairs to an adjuster. let them write their claim and go from there. In this case, I'd went to a lawyer.

 

[STUNNAH]

BTW Never imply you'll do your own repairs to an adjuster. let them write their claim and go from there. In this case, I'd went to a lawyer.

I agree...Even if you do your own repair they have to compensate you at a fair labor rate...

 

[shenoyp]

I think your insurence is trying to take you for a ride! I agree with the others... it's better you get a lawyer, to sort out stuff!

 

[suzuki4life]

BTW Never imply you'll do your own repairs to an adjuster. let them write their claim and go from there. In this case, I'd went to a lawyer.

I agree...Even if you do your own repair they have to compensate you at a fair labor rate...

NO! Afraid they don't hafta pay you a dime to fix your own stuff. That is why I urge anyone considering doing so not to mention it. Yes I feel my time is worth as much as a shop's but the law doesn't see it like that.

 

[Pipefighter248]

 

[paulos]

ur be ok m8 jusy keep pushing um::

 

[NearDeath]

you can buy the bike back from the insurance company if you want...

They will sell back to you for a cheap price and then you can restore it.... It will have a salvage title on ti, but at least you can keep it...

The dealership CAN'T keep the bike wihtout your permission... Don't be a puss... Go take your bike home from the dealership because it is yours... Strip the turbo and stuff out of it and hand it back to the insurance company in piecess... They will never know the difference and they won't come after you either...

Cloud

 

[busahaya]

you can buy the bike back from the insurance company if you want...

They will sell back to you for a cheap price and then you can restore it.... It will have a salvage title on ti, but at least you can keep it...

The dealership CAN'T keep the bike wihtout your permission... Don't be a puss... Go take your bike home from the dealership because it is yours... Strip the turbo and stuff out of it and hand it back to the insurance company in piecess... They will never know the difference and they won't come after you either...

Cloud

What Cloud9 said.

 

[STUNNAH]

you can buy the bike back from the insurance company if you want...

They will sell back to you for a cheap price and then you can restore it.... It will have a salvage title on ti, but at least you can keep it...

The dealership CAN'T keep the bike wihtout your permission... Don't be a puss... Go take your bike home from the dealership because it is yours... Strip the turbo and stuff out of it and hand it back to the insurance company in piecess... They will never know the difference and they won't come after you either...

Cloud

Yeah...Cloud that's a very good point about picking the bike up...The only thing the dealer is doing is giving you and estimate and since the claim has not been finalized no one has any say regarding the bike but you...

 

[madlyhs]

Today I went and met with the insurance guy trying to understand their calculations and their compensation payments however, I failed to understand their point and we did not see eye to eye.

I informed them that I will be going to the Suzuki agent to instruct them to do the repair. The insurance guys told me we can not allow you to do that! I said it is my bike and I will pay for the repair and will get back to you with the invoices once it is done. He then brought the subject of canceling my insurance when I asked why?  He said cos you had the accident! I said this is why I have insurance and I will not let you cancel it before the insurance period expires or you refund me for the remaining period and I left his office.

I am getting the bike repaired and I will be seeking legal advice to see how to get the insurance company to pay for the entire repair cost.

This really sucks but I will get them. By the way this is not an American insurance company as I am in Kuwait it is called Kuwait Insurance Company.

Thank you guys for all your help and support



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