Query: Item value after write off or What's paid out and what's not in a claim??? | GTAMotorcycle.com

Query: Item value after write off or What's paid out and what's not in a claim???

TwoDog

TwoDog

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So, my bike was written off a few weeks ago, 09 GSXR 750, 7500KM, rear ended by car in Mississauga, broken wrist, sore bones, 0% liability. I've been dealing with my insurance company about the value of my bike and items on it.

What I'd like to understand is there are some items on the bike they state they don't/won't cover even with receipts. They won't cover my Rizoma grips 100 value, Motivation Bar Ends 90 value, Pazzo Levers 200 value. They stated if the grips were heated they would cover them ?? Yet they covered a Woodcraft stator cover, mind you 2 weeks on and they took off near 75 worth of it's value.

I also find they appraised the bike a little low. They told me I have the option to either pay for appraisal or get min. 5 quotes on same bike in ON and they'll take it into consideration. They really don't make it easy.

Anyways, wondering if others have had similar above mentioned items paid out on their claims? Wondering what my options are.

Thanks in advance.
Two
 
If you didn't notify the company of the added value of the bike, why are you surprised that they don't want to cover it? If you notify them ahead of time, they will adjust your premium to cover the increased value of the bike (the increase will be relatively small). Now you may be able to pull off the upgraded parts and replace with the stock parts so the insurance company buys a complete bike as listed in your policy, but I don't know if they would allow this as people likely screw them around too much.

It sounds like insurance companies have moved away from finding 3 bikes in autotrader or kijiji and using that as the price. There were probably too many people getting their friends to list bikes to push the value. Talk to BusaBob about appraisers, he is going through the same thing right now and he may have recent experience with getting a bike appraised.
 
Remember their first offer is an offer, You don't have to accept it. You can negotiate a better price, They are most likely lowballing you to see if you will take it.
Also you will never get full price for aftermarket parts as I am sure you didn't let them know everytime you put something on your bike increasing the value, As they could say "well if your increasing the bikes value, we should have increased the premium".
I was lucky as they offered me almost $800 more then I paid for the bike when it was in your situation but I took the cash payout and pocketed a nice chunk of money.

Good luck with everything
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