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Options after seemingly minor smash

4K views 28 replies 14 participants last post by  enyap_ynot 
#1 ·
Hi all,

Last year I bought a 2005 Blackbird from Peter Stevens in Dandenong in great condition and insured it for $7,000. I recently had a fairly minor accident. Thank g*d for oggy knobs or it would have been much worse!. anyway, some plastic on the nose was broken and there was a hole in a side cover which leaked oil. Everything else seemed OK and if it wasn't for the oil leak I probably could have ridden away from it.

However, the assessor from Swann Insurance reckons there's over $8,000 worth of damage to it!. He said Blackbird parts are expensive and I'm assuming the quote was for new replacement parts but still!!. He reckoned the bike still seemed structurally sound, but they didn't do a full teardown once the quote got that high.

I still have the option of buying the wreck back (dunno how much for) or grabbing the money and running (again not sure).

What options can you guys suggest?. Can you get 2nd hand panels easily?. How about race glass?.

Should I take the money and run?. If so, anyone got a Blackbird for sale?. ;-)

Cheers,
Tony P.
 
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#5 ·
Makes you wonder how you can do $8000 worth of damage to a $7000 bike. My partner got a slight bump in the rear of her 650 V-Star. Minimal damage. The bill was $5500. Makes me think some of these assessors are on the take. Kick backs from the bike shops.
If they are going to give you the full $7000. Then take it and look around for another good Bird. There are not many that are asking more than that.
 
#6 ·
Usually what happens is the assessor quotes just under the insured value so the insurer gets the bike fixed. Then the assessor picks up his take from the bike shop doing the fix :nono:

I'd take the $7K, see how much the buy back is, then if its cheap enough, buy back and fix myself with aftermarket fairings. Then sell and buy another bargin priced, super low klm, late model in excellent condition. They are out there, just ask me :evilaugh:
 
#8 ·
If it's anything like here they consider the busted side cover as major engine damage and include the price of a new engine in the quote. I bought a "totaled" Katana because of that. A few scuffs on the fairings and a busted ignition cover. The "major engine damage" cost me $50 to replace the cover.
 
#11 ·
In my state a salvage title is the kiss of death, so if it's minor damage, we don't even file a claim -- just fix it up and keep riding it. If it's not an issue where you are, then I think you may have nothing to loose and a lot to gain if you can take the money and buy back the bike, unless you want to move on to a different bike.
 
#13 ·
I have had the same happen, I fixed it myself and did not claim. I was able to do the repairs myself tho. Cost me about $700 with second hand panels. If you factor in the excess you pay (about $500), then the hike in price of your premiums (for bike and car and even green slip!) It was cheaper not to claim at all.
For example, my mrs had a minor fender bender in her car. The bike green slip alone (CTP) went up by $300 per year!


K
 
#19 ·
I dont think you could ever say thet you would make money on a claim. Even if he he "clears" $2000, that is, he gets paid out $9200 and buys back in for $7200, you loose the value remaining on your policy, you loose your excess, you pay more for insurance for up to 5 years and thats before you pay for gear or accesories.


K
 
#20 ·
I dont think you could ever say thet you would make money on a claim. Even if he he "clears" $2000, that is, he gets paid out $9200 and buys back in for $7200, you loose the value remaining on your policy, you loose your excess, you pay more for insurance for up to 5 years and thats before you pay for gear or accesories.K
in belgium laws are different, i pay 395euro per year, i can do as many accidents as i want and still stay at 395 and i pay nothing out of my own pocket when im in an accident that i didn't cause, if i cause the accident i only end up paying the damage to my bike. offcourse if i do this 10 times or so my insurance company can kick me out if they want to.oh P.S. i was in an accident once and got 2800euros for it and ended up spending 1200 in repairs + a new helmet so i made 1600 euros for laying my wildstar on its side
 
#23 ·
i think it's pretty awesome, i scratched my buddies fairing once by backing up not knowing he sneaked up behind me, no damage to my bike, they paid him 800euro and he got it fixed for 200 and we went out for some drinks, he was buying lol, and it doesn't cost me a penny more per year
 
#25 ·
all insurance companies have a formula that does the same as your insurance, we call it an "omnium", but for a bike that costs like 1500-2000euro each year. so when i go down i just have my mate tell em he knicked me in a corner or something and his insurance company pays me
 
#29 ·
Hi all,

Spoke to the guy shop holding the bike which has since gone off to the auction house. He started to read to me the 3 page quote and basically the assessor has quoted for every tiny scratch and dent on the bike a brand new part, so it included pretty much everything on the outside of the bike, plus a bunch of other stuff including the instrument cluster!. Yes, the instrument cluster!!... That's like having front bumper damage on a car and they quote for new carpet in the boot!.

Anyway, I get a bunch of money, say goodbye to my beloved Blackbird I've had for less than a year (*sniff* :-( ) and start shopping again.
 
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