It happened... Crashed my bike!

[Rob MacLennan]

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As someone that has never ridden and has a bike sitting in the garage waiting for the spring to come... threads like these scare the **** out of me..

What's everyone's concensus on state-farm when you get into a wreck? Do they just inspect the bike and estimate damages or do they pay out the "purchase price" on the bill of sale *ahem.

To answer in one word, "depends." They will pay for repair, unless the amount of damage is a substantial fraction of the bike's total CURRENT value. If it's higher than that then they will pay out the current depreciated value of the bike, less the deductible. So for example if you bought a bike for $10K and had it for a year, they might value it at $7.5K. If you did $4K damage to it and had a $1K deductible, then they would give you $6.5K.

 

[evang]

As someone that has never ridden and has a bike sitting in the garage waiting for the spring to come... threads like these scare the **** out of me..

What's everyone's concensus on state-farm when you get into a wreck? Do they just inspect the bike and estimate damages or do they pay out the "purchase price" on the bill of sale *ahem.

your purchase price has nothing to do with it. It's based on the repair price and then market value.

If your bike is damaged, Take it to a dealer/repair shop and have the statefarm agent meet you there with a mechanic. Do not have them come see it at your home. If they come to your place, they will only go by what is immediately visible to them. They will miss a load of little odds and ends, and it's only going to result in you submitting an additional claim for the difference, and a slow process. If they come to the shop and go over it with a mechanic, they can get it all in one shot.


If the damage exceeds 80% of the value of the vehicle, they will generally write it off. Or so i was told by someone at statefarm.

 

[toysareforboys]

You're in good hands with Statefarm

-Jamie M.

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