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Valkyrie Riders Cruiser Club > General > General Board > Insurance buyback
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Author Topic: Insurance buyback  (Read 1009 times)
baldo
Member
*****
Posts: 6960


Youbetcha

Cape Cod, MA
« on: June 28, 2024, 06:42:24 AM »
Hello, I've got to deal with my insurance regarding lettingbthem total it or not. I'll post pix later on.

It's a 2014 Valk with approx 20k on it. All the damage is on the right side, no structural just cosmetic. I don't see anything bent.

KBB book value for trade-in is $7130 in good shape. I want to keep it and have it painted..

I've never dealt with this situation before, so I'm lookingvfor advice. I'll be checking in through the day.

Thanks.
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Chrisj CMA
Member
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Posts: 14757


Crestview (Panhandle) Florida
« Reply #1 on: June 28, 2024, 06:48:02 AM »
The repair estimate from a dealership will likely drive the decision to total it. Tell the insurance you are fixing it yourself with OEM parts and send them a list of the cost for parts. Demand the full percentage of value, they need to pay YOU for labor too. Usually 75% of book value.
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Serk
Member
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Posts: 21785


Rowlett, TX
« Reply #2 on: June 28, 2024, 06:49:41 AM »
Has insurance already decided to total it?

When Kali laid my '98 down I was able to talk to the adjuster and beg to NOT have it totaled, she managed to get me I wanna say just shy of $7k for mostly cosmetic repairs to a bike worth maybe $3500 without totaling it...

However it goes, glad you're here typing about it. Didn't know you had a MKII Valkyrie, kinda relieved to know it wasn't your GLH MKI Valk...
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Never ask a geek 'Why?',just nod your head and slowly back away...



IBA# 22107 
VRCC# 7976
VRCCDS# 226

1998 Valkyrie Standard
2008 Gold Wing

Taxation is theft.

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POPS 57
Member
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Posts: 456


Motorized Bandit

Motley MN
« Reply #3 on: June 28, 2024, 07:12:08 AM »
I could list what I did. It would be better to look up my bear accident. Lots of good advice from the members of this site. Time is on your side. The adjuster wants to clear his books. 
 
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And as i shifted into 5th I couldn't remember a thing she said.
Willow
Administrator
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Posts: 16590


Excessive comfort breeds weakness. PttP

Olathe, KS


WWW
« Reply #4 on: June 28, 2024, 07:46:07 AM »
Buy it back.  Even if you are unable to repair it the parts are worth much more than they will reduce for the buy back.

Contest the insurance company on the value of the bike.  Their first offer is generally a lowball and they are usually willing to adjust.

Buy it back.  Keep it in your hands.  The work pon the engine is worth probably more than the buy back cost.
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f6john
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Posts: 9312


Christ first and always

Richmond, Kentucky
« Reply #5 on: June 28, 2024, 12:02:36 PM »
Quote from: Willow on June 28, 2024, 07:46:07 AM
Buy it back.  Even if you are unable to repair it the parts are worth much more than they will reduce for the buy back.

Contest the insurance company on the value of the bike.  Their first offer is generally a lowball and they are usually willing to adjust.

Buy it back.  Keep it in your hands.  The work pon the engine is worth probably more than the buy back cost.

This wasn’t the Attic Rat bike. That would have been a real shame!
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