Reply With Quoteonce you accepted a check from them they legally own the bike. As with any ownership I would anly assume they can do whatever they want with it.
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Hi guys,
A few mths ago, my bike was hit by another party while parked thru no fault of mine. The other party was charged w/failing to remain at the scene. Witnesses were present.
Now the bike has been deemed as a write off by State Farm.
They've offered to cut me a cheque to replace the bike. At first, they offered me the cheque and an option to buyback the vehicle with a salvage value.
Now I want to buy back the bike and collect the cheque minus the salvage value.
I'll either part the bike out or track it as they are going to make the title irrepairable.
The supervisor is now telling me that they will not allow me to buy back the vehicle and they want the vehicle scrapped by them or they will not cut me the cheque.
My question is :
Does State Farm have the right to deny me buyback of my bike??
Thx in advance!
once you accepted a check from them they legally own the bike. As with any ownership I would anly assume they can do whatever they want with it.
Last edited by Bogdon; 01-08-2008 at 02:07 PM. Reason: spelling
I know of a guy that had the same problem, But in his case the were the foot peg attached to the frame it had cracked. They denied the buy back due to "frame damage", if I recall it was primimium in his case.
I know they won't scrap it. It will go to auction. Last two bikes we got from there were from state farm.
once the insurnace co. hands you the cheque.. only then.. legally they now own the bike.
my $0.02 take the cahs and get a new one... 2007 are going out the door for a really good price!!!
i was thinking of taking the cheque until they had mentioned that bike's salvage value to be rather low.
is it within my rights to take the cheque and insist on a buyback?
The insurance company is buying the bike from you...hence the cheque...so they own the bike...they don't have to sell it to anyone...
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You know that the ins co got a better offer from a salvage company for your bike, so they don't want to sell it to you at the old price.You just took too long to take them up on their low offer!
They will make you sign paperwork to release the cheque AND signing off on the ownership IF YOU DO AGREE TO THEIR TERMS. You hum and holla about "its my right...blah blah" or flex your muscle by speaking to a supervisor only doesnt hold much clout. Your best bet is to ask them kindly if there is any chance you can buy the bike back
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....for the time being....bikeless!
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