Harley Davidson V-Rod Forum banner

1 - 12 of 12 Posts

·
Registered
Joined
·
46 Posts
Discussion Starter · #1 ·
Hey everyone, about a month ago I was hit by a cager not paying attention to what he was doing, resulting in a shattered ankle and a banged up bike:banghead: I just recently got the estimate back on the bike and it was $10,200.00. I owe $15,200.00 on the loan. I am not sure what the guy's insurance is going to do about this. I am not too experienced in these situations... I am pretty sure that they will total the bike since the estimate is nearly 2/3 of what I owe. I want to possibly keep the bike as is and get the check for $10,200.00 and part out the bike...take the money made from selling the parts and pay off the loan with that and the check. Basically, I just want to keep my Revolution engine, and when I am back on my feet I want to build a custom with the Revolution power plant from the ground up. If I am able to keep and part out the bike, would there be any interest out there for these parts??? The bike in my opinion doesnt look as bad as what the estimate made it out to be. However, I am not a technician or mechanic. I think anything that was nicked or scratched got put in the estimate! I will put pictures up for anyone to see if they are interested. I will say again, I am not 100% sure if I am able to keep the bike to part it out. I just want to see what my fellow V-Rodders thought about this! Thanks for any input or interest!
 

Attachments

·
VRF0RUMS ORIGINAL
Joined
·
5,763 Posts
Oh man. Sorry about your situation. Wish I could offer some solid advice. Usually if they total a vehicle they take the vehicle. Depending in the insurance company you can "buy it back" for what it's worth now. Being you have a loan on the bike I do not know how it will work. Maybe Donwe can help.
 

·
Sanctimonious
Joined
·
44,118 Posts
I would think you could get a good price for those skins (some I have seen on Ebay are Horrendous and went for $1500+) If you do part it out I will take the Riser and Bezel off your hands since my Chromer melted my extra one.
I think that if they "Total" the bike they will than take possession of it also. If they Give you the Money to fix it I would pay off the loan, get another one used for around 10k with the remaining funds than you have a parts bike at your disposal in your own garage and lower payments on your new ride.
 

·
Premium Member
Joined
·
2,410 Posts
Sorry about the hit and get better soon!!!! What kind of seat is that? Stock? Thanks
 

·
Registered
Joined
·
964 Posts
I think there are two possibilities. If in fact they pay the estimate then you will have to take it to a shop and get it fixed OR show proof you are going to fix it. I suspect this will be required by your lender. Since they have the bike as insurance against your default on the loan, they will want proof the insurance was fixed and is now marketable in case you defualt.

The other possibility is that they total the bike. In that case they payout would be more than the estimate. At that point I would argue with them to get at least what I owe. That payout offer is negotiable and most of the time you can get them to come up to what it would cost you to replace the bike with a comparable one...not a new one but comporable. Your add ons could be a problem however depending on how you have your bike insured. I know with gieco I had to list my add ons and give a dollar amount they cost. If I had not done that they would have only considered what the factory cost of an item was.

For instance if the factory cost of a paint set is 1000 but your custom set is 1500 they will only pay the 1000. You would have been required (at least gieco does this) to insure the additional 500 (not the entire 1500 just the difference between the new part and what the take off cost).

I would also suggest if the other driver was at fault and you suffered a broken ankle they other guys insurance company might be more inclinded to get you whole on your bike.

I have a friend that is an adjuster and each of them (he works at progressive) has a pre determined limit of cash they can just give out in return for a total release of any future claims. I.e. you give up the right to ever sue them on this case and they give you a cash sum. This is over and above the settlement on the vehicle.

I also suggest not threatning with lawsuits. they hear this everyday and it makes them go a differnt way. If in fact you do go get a lawyer, they will simply stop communicating with you and turn it over to their legal department...now you will take years to get whole if ever. I would try to make my own deal and be nice, they want out of this as much as you do until you pull the L word.
 

·
Registered
Joined
·
52 Posts
I looked at the pictures and maybe it just me, but I dont see $10k in damage, the frame peg part looks like the worst of it and it is replacable, but if the frame has damage (can't see in the pictures) then it could be that amount to fix. Make sure you get the list of items that the adjuster says need replacing. I understand you are not a mechanic, so now is a good time to learn. I just screwed up my front chrome fork tube and it was easy to take off and fix. I had the whole front end off. I am what they call a "shadetree" mechanic. Get better and get back into the "game" we need you on the road again!

David
 

·
Registered
Joined
·
46 Posts
Discussion Starter · #8 ·
vesteroid said:
I also suggest not threatning with lawsuits. they hear this everyday and it makes them go a differnt way. If in fact you do go get a lawyer, they will simply stop communicating with you and turn it over to their legal department...now you will take years to get whole if ever. I would try to make my own deal and be nice, they want out of this as much as you do until you pull the L word.
I actually was planning on making my own deal with his insurance. I have already communicated with the person handling the claim. We have already established a good relationship with one another. On the other hand, I do have an attorney handling the personal injury claim, and the matter of lost wages. I must have council for this because I had no med insurance due to the fact I was a part time bartender and student. I know this is going to take a while to be resolved because I have to stop incurring med. bills before a settlement is made:mad: And with doc. appoinments every week to see if skin grafts are necessary, the bills keep rolling in:banghead:

Getting back to the bike claim, there is no legal eagles involved in this, which is pleasant!
 

·
Registered
Joined
·
46 Posts
Discussion Starter · #9 ·
dlganapol said:
I looked at the pictures and maybe it just me, but I dont see $10k in damage, the frame peg part looks like the worst of it and it is replacable, but if the frame has damage (can't see in the pictures) then it could be that amount to fix. Make sure you get the list of items that the adjuster says need replacing. I understand you are not a mechanic, so now is a good time to learn. I just screwed up my front chrome fork tube and it was easy to take off and fix. I had the whole front end off. I am what they call a "shadetree" mechanic. Get better and get back into the "game" we need you on the road again!

David
Shit, you're telling me!!! I couldn't see the 10K either, but the estimate was prepared by the harley dealership where I purchased the bike! I have my own copy of the estimate, with two pages of parts!!!!:deal: My impression of what happened is I didn't just completely trash one thing, I barely screwed up everything enough to need replacing. But that's just my guess....

And thank you and every one else so far for the kind words and advice....The head surgeon taking care of my leg tells me it's gonna be close to a year, maybe a bit longer. But after that, you better believe I'll be back on the road!!! Maybe I can talk the insurance into trading this broke joke for a brand new DX. Haha :D yeah right!
 

·
Premium Member
Joined
·
3,516 Posts
I got rear ended, replace the Dog's a$$ SE style, an the estimate that I got was 1,100 bucks from the HD shop.
 

·
SNAFU
Joined
·
13,094 Posts
Check with your finance company, if it's Eaglemark (Harley) then you may have GAP insurance. That will cover the difference between what it's worth and what is owed. I believe it would be up to Eaglemark to go after their insurance company to recover the GAP loss. Also check with your insurance company to see how much custom parts coverage you have.

If they total it they will take the bike. Most will not allow you to buy it back but some do so it's worth asking.
 

·
Registered
Joined
·
494 Posts
Lots of good advise has been shared. I would add that the insurance underwriter's decision to total a vehicle has more to do with the actual market value of the vehicle than the cost of repairs. Usually, should the repair estimate exceed the market (book) value, they will total the vehicle. If the repair estimate falls [somewhere] short of the book value, you will likely get a settlement. So (as it has been implied by a previous post), it is in your best interest to get all of your receipts for mods and add-ons together in order to establish a realistic value to discuss once they are ready with a proposal.
 
1 - 12 of 12 Posts
Top