The Salvage Title Racket - 600RR.net
General Discussion General Honda CBR600RR Motorcycle Talk - please place mods, tech tips and off topic threads in the correct forums.

 
LinkBack Thread Tools
post #1 of 2 (permalink) Old 04-21-2018, 09:33 AM Thread Starter
Knee Dragger
 
Join Date: Apr 2018
Location: Aiken, SC
Posts: 109
Thanks: 1
Thanked 36 Times in 31 Posts
Feedback Score: 1 reviews
The Salvage Title Racket

Recently purchased a 'totaled' 2011 600rr at auction. I did a fair bit of research ahead of time to include checking out about a dozen totaled bikes at the auction lot.

None of these bikes were what a normal person would consider totaled. The obvious definition is that it's damaged to the point of not worth fixing.

But what it seems to mean in most cases is that the insurance company (IC) can make money by not fixing your bike. They apparently total any bike when its value drops below $2k or 25% of book. It doesn't take much for that to happen.

In the case of my 600, avg. book is around $7k so that's what the IC owes the insuree at most, likely they'll try to pay less.

Minus the normal $1k deductible, IC is on the hook for $6k max if they total the bike. But they get $2k+ back in salvage, so $4k out of pocket. And they get to close the case, no hassles with the insuree or ugly surprises at the shop.

If they fix it the plastic alone is more than $3k for this bike, before labor. And of course the bike was pristine prior to the mishap ;) so they'd have to fix every scratch and ding on it with OEM parts and labor.

In my experience modern bikes are very robust. Engine or frame damage doesn't happen easily and requires a serious amount of blunt force that would be evident on other parts of the bike like the forks.

My point here is that salvage doesn't usually mean what you think it means. Providing your state doesn't have any onerous rules (some require inspection but in SC they don't care, you register them just like a normal title) it's a great way to save thousands of $$$$. My insurance company, Progressive, had no issues with it either.

I may buy another one

Last edited by Bat-1; 04-21-2018 at 11:02 AM.
Bat-1 is offline  
The Following User Says Thank You to Bat-1 For This Useful Post:
tary preisser (04-22-2018)
Sponsored Links
Advertisement
 
post #2 of 2 (permalink) Old 04-24-2018, 08:31 PM
AMA Supersport Racer
 
Join Date: Apr 2011
Location: Phx
Posts: 966
Thanks: 10
Thanked 199 Times in 174 Posts
Feedback Score: 0 reviews
I don't see it as a racket. You get what your bike is worth. If you sold the bike before the crash, you'd get exactly what they are giving you for totaling it. The only difference is the person buying it for full value still has a working bike worth full value. The insurance company has a parts bike and looses thousands.
And yes, they are totaled for cosmetics 90% of the time. Hurt one fairing and scratch the swingarm and your done. Hell just scratch the main frame and its done.

'06 F4i- Yoshimura RS-3C, Racetech springs and valves, Ohlin's rear shock, steel brake lines, 520 conversion. 87k miles and counting.....
'08 600RR- Stripped trackbike. CRG shorty brake lever, goodridge front brake lines
'15 1000RR- weekend toy
------Disclaimer: I can't spell------
bored&stroked is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the 600RR.net forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome