Aight Afew weeks ago I was stoped, waiting to make a left hand turn and a car rearended me at 35mph. Tore my bike up! Med bills, ambulence, the whole nine yards. Anyway today I just found out that they totaled the bike and want to settle with $1,732. However I was under then impression that I was worth a bit more than that. I just wanted to know what you guys thought since you are the gs500 Knowledge bucket.
It's a 1999 Gs500E, 7200mi, Yosh exaust, airtech clipons, racetech front suspention, stage 2 jet kit, Cbr 900 rearset conversion, 15t front sproket, aftermarket katana rear shock, GSXR600 swingarm and wheel conversion, with race rubber front and rear....and a few oter little things. the kicker is that I have a friend that is employed as a certified suzuki mechanic snd he along with teh whole shop have kinda taken this bike in as a challenge project. everything has been done, THE RIGHT WAY!! machine shop work custom berings for the swingarn ect.
What do you guys think? does $1,732 sound right? any input would be greatly appreciated.
for your bike maybe, however they should also be covering your medical expenses, time missed from work, etc. If they are offering you to settle on everything for that amount get a lawyer and their story will change.
Quote from: halfawake on November 12, 2008, 12:39:38 PM
Aight Afew weeks ago I was stoped, waiting to make a left hand turn and a car rearended me at 35mph. Tore my bike up! Med bills, ambulence, the whole nine yards. Anyway today I just found out that they totaled the bike and want to settle with $1,732. However I was under then impression that I was worth a bit more than that. I just wanted to know what you guys thought since you are the gs500 Knowledge bucket.
It's a 1999 Gs500E, 7200mi, Yosh exaust, airtech clipons, racetech front suspention, stage 2 jet kit, Cbr 900 rearset conversion, 15t front sproket, aftermarket katana rear shock, GSXR600 swingarm and wheel conversion, with race rubber front and rear....and a few oter little things. the kicker is that I have a friend that is employed as a certified suzuki mechanic snd he along with teh whole shop have kinda taken this bike in as a challenge project. everything has been done, THE RIGHT WAY!! machine shop work custom berings for the swingarn ect.
What do you guys think? does $1,732 sound right? any input would be greatly appreciated.
Insurance companies do not care about aftermarket parts. They go by book value.
There's no way I would let them get out of all of it for that much. that's just what they are settleing on with the bike only. Even if they don't honor after maket parts, is that amout lagit for the amount of miles? when I look it up on KBB.com it goes for 1900 with 20k + miles.
Some insurance companies will go for more if you have proof (receipts) of upgrades. An old college classmate of mine had a 70-something Z-28 that was hot-rodded quite a bit. He had most receipts and got the insurance company to pay for repairs rather than total it. Lot of headache though.
Probably depends on the insurance company.
get a lawyer...it'll be worth the fees.
Quote from: dgyver on November 12, 2008, 01:41:21 PM
Insurance companies do not care about aftermarket parts. They go by book value.
That is what I was trying to say, and i thought it might be the bike only just making sure. I've seen insurance companies do pretty shady shaZam! on first offer :laugh: :laugh:
My 2007 gs500f with 6500 miles was totaled by an insurance company a few weeks ago. They valued it at 4100, and after taxes, titles and fees, they ended up cutting me a check for 3800.
I have a bike that was just totalled and Im hoping to get what its worth too.
$1,732 is very reasonable for a 1999 GS with 7200 miles on it. They aren't screwing you over with that price in my opinion.
Ya. I looked up my 01 and I think they owe me about 1900.
Never take the first offer. Explain why it is not enough in a nice but firm way. If KBB is 1900.00 and you have a host of aftermarket parts and labor, get prices/quotes and send to the insurance co. They have guidelines to go by and won't have info on this. The first offer is a lowball.
Quote from: commuterdude on November 12, 2008, 04:22:12 PM
Never take the first offer. Explain why it is not enough in a nice but firm way. If KBB is 1900.00 and you have a host of aftermarket parts and labor, get prices/quotes and send to the insurance co. They have guidelines to go by and won't have info on this. The first offer is a lowball.
I agree... You need to stand firm w/ insurance co's they will always low ball you. If you feel the need like stated above, call a lawyer. Did that ammount take in your medical bills? Dont sign anything from them w/o at least talking w/ a lawyer. Go to a small town guy sometimes they will help for a nominal fee.
:cheers:
How many of the aftermarket bits are intact, or at least usable, if not cosmetically perfect? It might be worth it to buy the bike back as salvage, or to swap the parts out with another GS and let them keep the totalled bike with stock bits.
That's the danger of custom work. The market value is never near what the personal value is.
Guy's I can't tell you how greatfull I am for your input. I am 24 and this is the first time I have had to walk through this really. family is like 14hr away and busy. But just to let you know, The afformentioned amount is for teh bike only. the med bills, ambulence, doctors, radiologist, x-ray, lost wages, and the like are all still comming in and in works. I will CERTAINLY be watching that one like a hawk. It sucks, but I can eat some of the valuse of the bike, but I can not and will not pay a dime of those bills or eat any of the lost wages ect... I guess what I don't get on the bike I'll make up on the rest of the claim. It's just frustrating that I would have to watch my back at all with it. On top of the two jobs and school I'm just not in the mood to be pushed around with the bureaucracy of the system that is "insurance"...well there's my sob story...lol. sorry for the rant, but tanks again for all the input. It helps alot!
Quote from: dgyver on November 12, 2008, 01:41:21 PM
Quote from: halfawake on November 12, 2008, 12:39:38 PM
Aight Afew weeks ago I was stoped, waiting to make a left hand turn and a car rearended me at 35mph. Tore my bike up! Med bills, ambulence, the whole nine yards. Anyway today I just found out that they totaled the bike and want to settle with $1,732. However I was under then impression that I was worth a bit more than that. I just wanted to know what you guys thought since you are the gs500 Knowledge bucket.
It's a 1999 Gs500E, 7200mi, Yosh exaust, airtech clipons, racetech front suspention, stage 2 jet kit, Cbr 900 rearset conversion, 15t front sproket, aftermarket katana rear shock, GSXR600 swingarm and wheel conversion, with race rubber front and rear....and a few oter little things. the kicker is that I have a friend that is employed as a certified suzuki mechanic snd he along with teh whole shop have kinda taken this bike in as a challenge project. everything has been done, THE RIGHT WAY!! machine shop work custom berings for the swingarn ect.
What do you guys think? does $1,732 sound right? any input would be greatly appreciated.
Insurance companies do not care about aftermarket parts. They go by book value.
they only care about the aftermarket parts if you tell them about them... and pay more on your monthly premium to cover them...
Were you wearing gear? The reason I ask this is that they gotta cover that damaged stuff too. Just casually adding up my gear let's see $350 for my shoei helmet, $200 for my riding jacket, $50 for my gloves, $125 for the pants. It could be even more for boots etc, etc,. If they are damaged they have to be replaced too.
Just thought I'd remind you!
Mary S.
Quote from: LOUiE on November 12, 2008, 09:44:03 PM
they only care about the aftermarket parts if you tell them about them... and pay more on your monthly premium to cover them...
If he was hit in the rear the other parties insurance is covering the bike unless they ran. In that case insurance you may carry on your parts may help you but more than likely not, unless you can prove they were valuable.
Book value of a 99 is 1900 ... really ? ... well you would get mileage credit on top of that ... 35c per mile ... ergo ... you're 12,000 miles short of the target mileage ... so that's worth 4K ... however I think they cap that off at 1/2 the overall value ... so maybe you're looking at 950 for low mileage ...
Then aftermarket parts ... totally worthless, in fact you put up the sheite you fitted on it to them, they'd question your bikes's safety and functionality ... you say you put CBR rear serts and GSXR wheel ... they'd say ... maybe your brake lights weren't working ...
All I'd shoot for is - aftermarket parts are all stuff you can yank off the bike once you buy back from them ... any that survived that is.
And yea bike only I suppose, riding gear, helmet etc, as well as all medical and lost wages are all their responsibility as well as pain and suffering.
Cool.
Buddha.
I'd be thinking at least $30,000.00. Start at 50,000.00 and only after a LOOONGG drawn out battle settle for 30k.
I wrecked my DL 650 last year and my insurance company wanted to total the bike and give me like $4,000. which would'nt touch a new bike. I didn't want it totaled because it was paid off and I didn't want another debt. What I found out is, in Texas a vehicle (bike) can only be totaled if the cost of repairs exceeds the value of the bike, which INCLUDES the value of the bike as salvage. Therefore if the price to repair the bike is less than the blue book value they cannot total it.(That's in Texas It looks like your in another state.) Look on the internet for your states insurance regulatory agency's website and read the regulations. It will take some digging, but you may find an answer that will satisfy you. Then tell your insurance company what the law says.
I ended up getting a settlement which paid for my parts from bike bandit or some place like that and did the repairs myself over a weekend. When all was said and done they wouldn't insure it again for comprehensive , just liability , but what the he-- The full coverage turned out to be not so good anyway. If they come to inspect it and I give them all my parts invoices showing factory parts were used I could get full coverage, but for now I'l just keep the minimum. Sorry to go on so long and good luck!!!
i would get an attorney to let them know that you mean business. if you haven't already, then they are feeling you out to pay as less as possible and that's likely not a fair amount for you. 35mph is a big hit in a car let alone a bike.
for a 7k mile 99 around here(CA), i would think will sell about $2k. low miles is a plus. they can bluebook your bike but do get them to pay for the aftermarket stuff. if they have a problem then tell them to get a custom appraiser out. i had that done to a car. you best believe that they need to pay for custom stuff when it's their end that's liable. if i put $10k rims on a $10k car, hell, no am i only taking $10k total for a complete loss. they need to get me back to where i was at. add it all up and tell them how much you demand for everything. the property damage is the least of their worries, a 35mpg hit is hard in my view.
do get an attorney for your injuries, they should also help with the bike claim. they probably won't pay for a rental but you can demand for "loss of use" of the bike. for cars, that's roughly $25-35 perday and will often max about ~$250. and also get them to pay for gear as posted earlier. bottom line is don't let them duck you around and settle for what they think is fair.
i'm just glad for now that you made it through a 35mph hit but get what is fair for you. don't downplay injuries. heal up soon! : )