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bike's a total loss...?'s for experienced ppl

883 Views 11 Replies 6 Participants Last post by  snikwad
so my bike has ended up a total loss after a get off:

i have a few questions for those who may have gone through what i'm about to. the bike's a total loss and the insurance company of the guy who hit me is going to be giving me the "retained" value of the bike. anyone have an idea of how much less that could possibly be than the market value of the bike??

i still owe about $3600 on the loan and i'm just hoping to be able to walk away with a little bit of money to get myself into another motorcycle down the road.

i'll be parting out what i can on the bike once i get it back, but i'm really hoping to come out in a decent position after all is said and done.

any thoughts from the peanut gallery???????

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Almost the same thing happened to my bike. I took a right hand corner and lowsided. The bike slid into the cub and the forks snapped off the metal stopper on the triples and slammed into the frame.

My bike was an 05 with 3500 miles on it and I got 7600 minus a 500 hundred dollar deductible for my bike.

Go to KBB or look up the NADA value of your bike. I think it will be in the 6-4k range. I would guess you should get around there back from insurance.
you will get some change, there is no way they can look at you and give you less than say $5k or more.
if they do, call your insurance company and have em help you out, or geta lawyer.
I dont know what 'retained value" is but if its any BS dont take it, take em to court.
When I totalled my first bike, They gave me a decent mkt value for the bike. In fact i made like 1K because I got a good deal on the bike in the first place. Look on blue book value for your bike, or just look at what they are selling for currently with close to your current milage and what not. I had state farm on my fist bike and they gave a rather fair market value.
I thought retained value is blue book. I thought that if it is totalled the insurance owns the bike and you have a chance to buy it back...but it will have a salvage title. I don't remember you telling us what year your bike is or the mileage...hard to give a figure without info.
Id guess its a 04 since its yellow, peep his avatar.
If thats what retained value is, ie. they retain it, and give you the value, then you should definately be ok.
2003 w/ 12,700 miles.

i want to think that "retained" value is the market rate adjusted a little bit due to the damage done to the bike. i guess i'm just anxious to find out. the adjuster will be calling me with a settlement sometime this week. i guess i could always refuse it if it's not to my liking.

this is all being done under the insurance of the guy who hit me, so i'm not paying any sort of deductible and i won't have anything showing up on my record. :)

it's been determined that the dude in the car was at fault and his insurance is taking full liability on the incident.
Mmmm, didnt know yellow was available in 03, thought it was 04.
well whatever.

If you only owe $3600 you should definately make some change, id guess about $1k.
Jump on kbb and Nada and geta feel for your biek in your zip.
thats probably exactly what the insurance company is gonna use.
yellow was available only on the 03' took it away in 04 and replaced it with the blue.

thanks for the replys everyone!!
Retained value of a vehicle is also known as residual value or depreciated value. It's the value of the vehicle upon selling it. I would assume that this is the same as the KBB value of the bike, although, a number of things can go into that depending on what the insurance company deems a cause of wear and tear separate from the accident. Who knows what that is, particularly when the insurance company is trying to minimize their pay out. Insurance companies are evil.
Also if you have any aftermarket parts replace them with the stock ones. Or atleast ask the insurance company if you can take them. After my bike wrecked I took my exhaust, windscreen and seat cowl back and sold them for a little bit of cash.
sooperman12 said:
... what the insurance company deems a cause of wear and tear separate from the accident. Who knows what that is, particularly when the insurance company is trying to minimize their pay out. Insurance companies are evil.
Aint that the truest truth of all the truths ever truthed.
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