Motorcycle book value | GTAMotorcycle.com

Motorcycle book value

bigpoppa

Well-known member
If there is no 'book value' of motorcycles how do insurance companies and others determine the value when paying out etc?

I hear they just guess based on kijiji or a google search?
 
Insurance companies have their own blue book. The "no book value" is only Service Ontario for taxes.

You can use Kijiji to support your decision to reject their offer on damage/theft payouts if you feel you're being under paid. I've only made a claim on a stolen bike once and it was more than fair. It was with Echelon through Riders Plus.
 
Most shops have a blue book - they cost a lot of money but they'll likely share the information you need if you ask politely.
 
When I registered my bike at ServiceOntario I paid the taxes on what the bike was worth to them - $4000. I paid $4000 but the guy was cool with putting $3000 even though he told me they have their own blue book value. This was my experience.
 
Insurance companies often use the cost after depreciation value which is based on the MSRP with a certain percentage deducted every year; also commonly use market value guides (such as KBB or NADA for example).
I am not convinced that Kijiji is used extensively as it is not reliable and does not reflect the sale price.
 
When I registered my bike at ServiceOntario I paid the taxes on what the bike was worth to them - $4000. I paid $4000 but the guy was cool with putting $3000 even though he told me they have their own blue book value. This was my experience.

This is not related to what OP is asking about. The discussion is about how do insurance companies value motorcycles.
FYI - ServiceOntario has no clue what you paid for your used, privately purchased bike, therefore you can put whatever you want on the bill of sale and pay taxes based on that. No value is listed on the UVIP for motorcycles.
 
When I registered my bike at ServiceOntario I paid the taxes on what the bike was worth to them - $4000. I paid $4000 but the guy was cool with putting $3000 even though he told me they have their own blue book value. This was my experience.

You paid $3000? Sweet jesus you got taken for a ride.
 
I am not convinced that Kijiji is used extensively as it is not reliable and does not reflect the sale price.

My sister had her SUV written off by someone who T-Boned her.

She wanted an exact replacement and told the insurer that...and they actually sent her a list of (not surprisingly, the cheapest ones they could find) Kijiji printouts to try to justify their payout offer.

She fought and got a lot more, but it seems Kijiji is actually a tool in their toolbox.
 
You paid $3000? Sweet jesus you got taken for a ride.

I paid the taxes on $3000. I was transferring ownership so I have no wordly idea how people are getting around this. You cant pay taxes on what you want, everyone would have bill of sale for $1.
 
Once again. You can write whatever the hell you wish on the bill of sale. Whether you do it or no is your business.

There are numerous threads on this and the morality and legality aspects of it. Do a search.

Now, please let the OP have his thread back.
 
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When my bike was written off for vandalism and the insurance offered a payout. I told them I wanted to replace it. The offer they gave me would not come close. I had to search kijiji to get something comparable since I could not find one in a dealership. They paid out what it would have cost me to buy the one on kijiji.


Sent from my iPhone using GTAMotorcycle.com
 
They will use multiple sources (if they have to) to arrive at your payout, its negoiated by an insurance adjuster that works for the insurance company. They may contact dealers, look at kijiji and autotrader, and use the inhouse blue book to arrive at a value. They are usually quite fair, sometimes not but settling is what they like.

If you have an unusual, vintage or rare motorcycle it may be worth having it appraised in case something happens, however you'll need to tell your insurance carrier its appraised value and may be billed accordingly.

I spent a decade in the repair industry, watched dozens ,bikes,cars,snowmachines go through the write off process. Cars and trucks are easy.
 
Bike prices can be more fickle than cars. Sales prices change by the season and economy. What is popular in Yuppie town is not so great in Hicksville.
 
Bike prices can be more fickle than cars. Sales prices change by the season and economy. What is popular in Yuppie town is not so great in Hicksville.

When my car and the bike were written off, (different years), but both with Allstate, they used Kijiji to make the offer, they found exactly the same ads I used for the bike. Dealership, said it was sweet, as I got approx $2,000 MORE then what the dealer estimated the bike to be worth. I am sure someone is enjoying the bike today. It was written off for pay out but not branded as it was merely cosmetic damage. It was primarily written off as the stock exhaust from Yamaha was just over $3200!!!

When I was with Statefarm, they considered writing the bike off and the adjuster also had me look at the same ads they were using on Kijiji, and Auto trader, as the value of the bike. They repaired it because the repair estimate was approx $500 less then the write off value, (although in the end the final bill was approx $1500 over the write off point).
 
This is not related to what OP is asking about. The discussion is about how do insurance companies value motorcycles.
FYI - ServiceOntario has no clue what you paid for your used, privately purchased bike, therefore you can put whatever you want on the bill of sale and pay taxes based on that. No value is listed on the UVIP for motorcycles.

Well....If you get the seller to put down a really low # Big brother will call the seller after the fact and at that point the seller has no incentive to lie. You will have to pay the tax you would have paid and the penalty is equal to that tax. So double. Ask me how I know. Though it was years ago.....Maybe changed now??
 
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Service ontario has given me values on cars and bikes before. In fact I had the owner write bill of sale low and their book said it was more so I had to pay the tax on their price. I.cant remember for sure but the uvip has a whole sale price in it and that's was the number they used to tax on?
 
Service ontario has given me values on cars and bikes before. In fact I had the owner write bill of sale low and their book said it was more so I had to pay the tax on their price. I.cant remember for sure but the uvip has a whole sale price in it and that's was the number they used to tax on?

Cars yes.
Bikes no.
That party will change sooner or later.
Also, the OP is asking about insurance payouts an not taxes from Service Ontario.
 

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