Need some advice. Insurance Claim? Bike Value?
11-23-2010, 07:49 PM
#1
New Hawk Rider
Superstock
Thread Starter
Join Date: Jul 2009
Location: Ventura Co. SoCAL
Posts: 258
Need some advice. Insurance Claim? Bike Value?
Ok. As I posted before. My 2000 SH was recently stolen. The insurance company called today and will be calling in a few days with an offer. I was wondering what many on here thought I could get for my bike if I sold it outright? Living in the SE where we can ride year round.
In a nutshell:
2000 Honda SH
6000 Miles Original
Near Mint (High BB Value)
Stock
I am thinking not to budge off $3500 minus my $500 deductible. That would make the insurance cut me a check for $3K. What do you guys think?
Pics on my profile.
In a nutshell:
2000 Honda SH
6000 Miles Original
Near Mint (High BB Value)
Stock
I am thinking not to budge off $3500 minus my $500 deductible. That would make the insurance cut me a check for $3K. What do you guys think?
Pics on my profile.
11-23-2010, 11:10 PM
#2
Senior Member
SuperSport
Join Date: May 2008
Location: Central Fl.
Posts: 530
If you sold outright?
In this market, in this economy, must sell? You are on the high side (pun if you look for it). Corporate entities deal in the realm of wholesale, so good luck out there.
On a tangent, if there was a note on the bike, you might want to check to see if the lender had placed insurance on the loan and had folded the premium into your payments. Made a $400 difference in my favor when I demanded the return of the premium because I had proof of insurance at the time of my loss.
In this market, in this economy, must sell? You are on the high side (pun if you look for it). Corporate entities deal in the realm of wholesale, so good luck out there.
On a tangent, if there was a note on the bike, you might want to check to see if the lender had placed insurance on the loan and had folded the premium into your payments. Made a $400 difference in my favor when I demanded the return of the premium because I had proof of insurance at the time of my loss.
11-24-2010, 10:37 AM
#5
Member
Squid
Join Date: Apr 2010
Location: NorCal
Posts: 85
You aren't selling the bike. You are being asked for it's value.
$3500 for a minty with 6000miles is totaly fair.
Thats close to what I paid for mine back in April with 5000miles.
Remember KBB & NADA is for average bikes with average miles which would be 60,000 miles.
I'd even go up to $4000 with your insurance company.
Replacement cost and what you will get for it selling in a winter/weak market are not the same but it is most definately WORTH around $4000.
You would have to be really lucky to find a mint 6000 mile bike let alone pay less than $3500 for it.
Don't let the insurance Co beat you up. Their job is to low ball you.
If they give you a hard time, tell them that you will replace it with a mint bike and they can cut you a check for the seller at that time.
$3500 for a minty with 6000miles is totaly fair.
Thats close to what I paid for mine back in April with 5000miles.
Remember KBB & NADA is for average bikes with average miles which would be 60,000 miles.
I'd even go up to $4000 with your insurance company.
Replacement cost and what you will get for it selling in a winter/weak market are not the same but it is most definately WORTH around $4000.
You would have to be really lucky to find a mint 6000 mile bike let alone pay less than $3500 for it.
Don't let the insurance Co beat you up. Their job is to low ball you.
If they give you a hard time, tell them that you will replace it with a mint bike and they can cut you a check for the seller at that time.
Last edited by majordomo490; 11-24-2010 at 10:42 AM.
11-24-2010, 12:05 PM
#6
Senior Member
MotoGP
Join Date: May 2008
Location: San Clemente, CA
Posts: 3,451
But seriously, that sucks. It's enough to have your pride and joy stolen, let alone having to wrestle with your own insurance.
I had a new Isuzu Trooper stolen back in 1990. At least my insurance was fair with me.
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