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maggot
L Plate Warrior



Joined: 19 Sep 2015
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PostPosted: 10:29 - 12 Jan 2016    Post subject: Insurance claim Reply with quote
So my bike got backed into and over a few weeks ago yesterday the 3rd party engineer sent by the wrongful party's insurance company came to asses the bike at my home.
He later contacted me to tell me the bike is a write of and he has valued it at £1980 how much of that do you guys think the insurance company will actually offer me? Sorry if its a dumb question my first ever insurance claim.
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 10:46 - 12 Jan 2016    Post subject: Re: Insurance claim Reply with quote
If the other party are paying, then you should get £1980.

I would also strongly advice you to request a price to purchase the salvage - quite likely that'll net you at least a couple of hundred quid, even just selling straight away to paddy on here maybe.

Last edited by G on 10:54 - 12 Jan 2016; edited 1 time in total
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DrSnoosnoo
World Chat Champion



Joined: 28 Mar 2012
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PostPosted: 10:47 - 12 Jan 2016    Post subject: Reply with quote
If he valued it at that, that's what you'll get offered.

How much could you buy a bike, in the same condition prior to being knocked over, for?
____________________
I'm Sam; Northern, Ginger, Lover
Did have: '95 ZZR600 '83 CG125 '97 ZZR1100 '15 Hypermotard 821 SP Do Have: '10 ZX10R
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maggot
L Plate Warrior



Joined: 19 Sep 2015
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PostPosted: 10:52 - 12 Jan 2016    Post subject: Reply with quote
DrSnoosnoo wrote:
If he valued it at that, that's what you'll get offered.

How much could you buy a bike, in the same condition prior to being knocked over, for?


Somewhere around that maybe £200 more depending on what was around.

The engineer said he sent of his report to the wrongful party's insurer yesterday so lets hope i hear soon Smile
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 11:01 - 12 Jan 2016    Post subject: Re: Insurance claim Reply with quote
G wrote:
I would also strongly advice you to request a price to purchase the salvage

If and only they decree that it's "repairable" (i.e. category C or D). Probably will be if it's just plastic / cosmetics.

If you genuinely can't buy a direct replacement for that price then they should be paying you more. Tell them to do one, provide the adverts, let them explain why it's only worth what they say it's worth.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 11:19 - 12 Jan 2016    Post subject: Re: Insurance claim Reply with quote
Rogerborg wrote:

If and only they decree that it's "repairable" (i.e. category C or D). Probably will be if it's just plastic / cosmetics.

Still worth asking, I'd say; often still sell it on for a good price.

Were it me, I'd probably just keep it to put back on the road if not too unfeasable.
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M.C
Super Spammer



Joined: 29 Sep 2015
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PostPosted: 11:23 - 12 Jan 2016    Post subject: Reply with quote
Do you currently have the bike? If so they'll payout the valuation minus the salvage value (at least they did in my case), then the rest when they have the bike/v5/keys. If the salvage values 2-400 quid (for a C or D cat) it'll probably be worth fixing it or selling it on. I believe Paddy has permanent dibs in these situations Laughing
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maggot
L Plate Warrior



Joined: 19 Sep 2015
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PostPosted: 11:29 - 12 Jan 2016    Post subject: Reply with quote
M.C wrote:
Do you currently have the bike? If so they'll payout the valuation minus the salvage value (at least they did in my case), then the rest when they have the bike/v5/keys. If the salvage values 2-400 quid (for a C or D cat) it'll probably be worth fixing it or selling it on. I believe Paddy has permanent dibs in these situations Laughing


The bike is currently in my garage and its not alot of damage but enough to write it of im not sure anyone would want to buy the salvage even with bugger all damage as it was already a cat c once back in 2006 so i doubt anyone would buy a double cat c
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 11:42 - 12 Jan 2016    Post subject: Reply with quote
What bike is it?

Also; you haven't met Paddy, I see! Razz
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Loui5D
Brolly Dolly



Joined: 22 Sep 2014
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PostPosted: 11:43 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
M.C wrote:
Do you currently have the bike? If so they'll payout the valuation minus the salvage value (at least they did in my case), then the rest when they have the bike/v5/keys. If the salvage values 2-400 quid (for a C or D cat) it'll probably be worth fixing it or selling it on. I believe Paddy has permanent dibs in these situations Laughing


The bike is currently in my garage and its not alot of damage but enough to write it of im not sure anyone would want to buy the salvage even with bugger all damage as it was already a cat c once back in 2006 so i doubt anyone would buy a double cat c


Paddy would.
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maggot
L Plate Warrior



Joined: 19 Sep 2015
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PostPosted: 11:46 - 12 Jan 2016    Post subject: Reply with quote
Its a 98 blade with 22k on the clock
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 11:50 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
double cat c

Wouldn't bother me in the slightest, I'd judge entirely on condition.

In fact, I wouldn't even have paid to check bikes at that price range, except that we do now need to know if they've been cat A/B'd as it recently became impractical to retain or sell them. Sad

Wait for the offer, get your adverts ready, and remember to tack on your consequential costs if you can document them.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 12:25 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
Its a 98 blade with 22k on the clock

Well, on that basis, I suspect I'd chuck you at least £150 ontop of the salvage value to buy it from you - likely you can make more 'instant money' from others, ebay and so on.
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DrSnoosnoo
World Chat Champion



Joined: 28 Mar 2012
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PostPosted: 12:27 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
Its a 98 blade with 22k on the clock


If you were to just flog it for the price of salvage, there'd be lots of people wanting it. I'd be bloody tempted. A low mileage blade with some scuffs - magic.
____________________
I'm Sam; Northern, Ginger, Lover
Did have: '95 ZZR600 '83 CG125 '97 ZZR1100 '15 Hypermotard 821 SP Do Have: '10 ZX10R
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P.addy
Red Rocket



Joined: 14 Feb 2008
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PostPosted: 12:42 - 12 Jan 2016    Post subject: Reply with quote
Triple Cat C wouldn't turn me away, you could provide a box of bits and I'd buy it Laughing
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maggot
L Plate Warrior



Joined: 19 Sep 2015
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PostPosted: 14:26 - 12 Jan 2016    Post subject: Reply with quote
Well if it turns out that way il let you all know Smile so im assuming by this discussion that the insurance company will offer me that even if they don't realise i know what the engineer valued it at or are they likely to low ball me?
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P.addy
Red Rocket



Joined: 14 Feb 2008
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PostPosted: 15:03 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
Well if it turns out that way il let you all know Smile so im assuming by this discussion that the insurance company will offer me that even if they don't realise i know what the engineer valued it at or are they likely to low ball me?


They'll get the engineers report, they'll offer you that, you say you would like to keep the bike + payout minus salvage. If you are happy with the revised offer then take it. It will probably sell around the salvage price anyway Thumbs Up
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 15:46 - 12 Jan 2016    Post subject: Reply with quote
maggot wrote:
Its a 98 blade with 22k on the clock

Oh, right. And already cat C?

Dealers might be asking more, but I very doubt that they'll get it.

That price looks right, or even a touch generous, for an actual completed private sale:

https://www.ebay.co.uk/itm/CBR-900-RRW-Fireblade-PSH-All-old-MOTs-HPI-clear-22700-miles-MOT-Aug-2016-/262162672964?hash=item3d0a1ced44:g:c9AAAOSwAYtWOo~N


Then even if you sell it as a "streetfightered" no-MOT, not road legal, "ran fine before it didn't" bike, you can still get nearly £800.

https://www.ebay.co.uk/itm/1998-Honda-Fireblade-Streetfighter-Ideal-Winter-Project-Spares-Repair-/221928324881?hash=item33abf57f11:g:~~oAAOSwl9BWNRK4
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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