Writing off bikes?

[steveh]

As some of you may know my bikes getting written off, im just abit confused about how they give me the money, i.e do they give me it what its worth at its current value in the shops, do they give me the cost of what it would be to repair the bike (£2500) or do they give me the value of how much i insured it for.
Ive heard all sorts, also, do they give me a cheque for a dealer or shop, or is it just a normal cheque, really cant afford to buy from a dealer.

If you could give me some idea that would be grand

Steve.
____________________
Current : 06 Zx10r, 07 Wr450f SM, 74 850 norton commando, 63 bsa b40, 1962 Triton 650, 67 Triumph Tr6r, 1955 Triton 750, 1978 TY250E.

[strag]

they send you a cheque for whatever they offered you, and you accepted.
____________________
carbon bling

[steveh]

[instigator]

Yup, they'll send you a lettter stating their initial offer and you either accept it or decline, replying why you don't think it's sufficient enough.

And yes, sound slike it'll be a cheque through the post.

[Cillit-BANG]

They will probably put a report together with their opinion on how much the bike was worth. They will then call you and you discuss what you think the value was. You come to a mutual agreement of sorts.

I should imagine you will be looking for the amount you insured the bike for. Unless the bike obviously isn't worth what you said.

[steveh]

ive had it checked over and it ill cost £2500 to repair, ive insured it for £1300 i think.

Steve.
____________________
Current : 06 Zx10r, 07 Wr450f SM, 74 850 norton commando, 63 bsa b40, 1962 Triton 650, 67 Triumph Tr6r, 1955 Triton 750, 1978 TY250E.

[craigs23]

Agree with the others; to determine the payout amount I found it must have been a mixture of what you insured the bike for plus how much they think it's worth after an inspection. The whole process for me took about 6 weeks and resulted in 2 options; one payout amount for me to keep the bike and one for them to take it away. Payment was made by cheque.

[18_stuart_88]

They will write a cheque out to you.

The engineer will do out a "Engineers Report" on the damage of the bike. He will od some research and determine how much the bike is worth, bearing in mind, your milage, production of that model, state bike was in before accident and so forth.

I got offered £1700 for my written off NSR and i wasnt happy with that amount becuase after my excess came of that fee it would have only left me £1200. So i called them up and explained i wasnt happy, etc etc. They asked me to put together a complaint letter, with evadence on how much the bike was worth. I sent that away and withing a week they had up'd my price to £1900, they were'nt willing to go any higher because production had stopped on the bike in 2003. so i settled and am just waiting on the cheque coming through this week hopfully.

Stu
____________________
Make: Honda NSR 125 R Year: 2004 Colour: Black And Silver - Died on December 18th 2005, Layed to rest December 30th 2005 :(Make: Aprilia RS 125 Year: 2000 Colour: Black And Red - Derestricted Sold!
Make: Suzuki GSXR 600 SRAD Year: 1998 Colour: Red - White - Blue
Pic of My New Bike!!

[stinkwheel]

They will try to screw you over. If it was insured for £1300 they will probably offer you £1000 then try to knock the excess off that total. Fuck them right off. NEVER accept the first offer.

Arm yourself with the 'book' value of the bike. Aim to get that less the excess. You will have to haggle.
____________________
“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.

[craigs23]

It depends on your insurance company; I had no problems what so ever with the unfortunate demise of my bike - I even had them pay out for the hiring of another bike, which certainly wasn't cheap. I wasn't liable at all for the accident though, so not sure if that had anything to do with the process.

[stinkwheel]

[steveh]

im claiming from the other party, as it wasnt my fault.

Im not fussed about the bike, saves me trying to sell it, just want some doe for my next bike


Steve.
____________________
Current : 06 Zx10r, 07 Wr450f SM, 74 850 norton commando, 63 bsa b40, 1962 Triton 650, 67 Triumph Tr6r, 1955 Triton 750, 1978 TY250E.

[woo]

i went through the same thing when i had my honda vfr nc30, it was insured at the value of £1900 and the cost of repairs came to £2100 which was mainly cosmetic damage to various parts.

However the engineer came round to my house and was meant to inspect the bike but all he did was quickly glance at it from left to right then said " i can have the money and the bike minus the scrap value which was £150 = £1900-£150=£1750 for me plus i keep the bike.
Or i can have £1900 and they take the bike away.

Well i took the £1750 & then sold the bike for £1700.

The bike was still rideable.

This should be what is going to happen with you considering your current situation.

I am now currently going through the process of the whole thing again but this time with my gsxr600k1 due a dumb ass cager pulling into my path on my side of the road to get to a parking space on my left resulting in a head on collison.!
____________________
Elen sila lummen omentielvo!

[ZRX61]

ALWAYS refuse their first offer, they usually add 25-30% the second time...

[Gazdaman]

It doesn't always go against you.

A friend of mine bought an ER5 on eBay for £610. Parked it in the side of a u-turning car. It was written off at a value of £1200, they never took the bike away, so we broke it and sold it on eBay for £700 in bits.

He made a lot of profit from crashing. Let alone ~20k in compensation he's got coming.

Gaz

[LustyLew]

I agree with Gaz.

I had a Rover Metro, bought for £700. After some plank drove into it, the engineers report valued it at £1,200. This is what the insurance company offered me for it.

Best bet is to wait and see what the engineers report says.

Dependig on who the fault lies with will determine if you get your excess back. If it's a 'non fault claim' then you should get your excess back.
____________________
Like a Yorkie - I'm not for the girls