Write off value?

[skidmarx]

Hi, Anyone got any advice for me? I got knocked off by a car pulling away behind me at a busy junction. They have apparently admitted liability and we are both insured by the same company. The bike has been estimated as needing around £2500 worth of repairs! GREAT! Not suprisingly the ins co have written it off. BUT...... I had a laserline alarm, scotoiler, and a virtually new pair of Z6s' on it! It's a 2004 sv650s with 8400 miles FSH and not a scratch before the shunt. I not happy about buying second hand really so may have to stretch to a new one. What do you think I should expect as an insurance payout and how can I lever up the offer? I'm gonna need a new helmet too.......Flippin' heck........been without a bike now for 3 weeks.......

[TSM]

way more than that, £2500 will get you a second hand SK2 curvey.

[skidmarx]

So what do you think I should expect and push for?

[TC3]

way more than that, £2500 will get you a second hand SK2 curvey.

and why would a pointy owner go for a curvy?

[SVeeedy Gonzales]

How much are they offering? - I'm assuming it's more than the repair bill??

I had a 2 month battle with Carole Nash/Equity Red star, with them offering more and more each time - went up from £3100 to £3800 (for a K4S with new tyres and 7000 miles on the clock). Keep pushing and challenging them and they'll keep offering more.

Can you get to the bike? I visited my bike in the scrap yard and ripped off the hugger and tax disc... only things that were salvageable. If you can visit yours, get the alarm and scottoiler off of it before you accept their offer - it's your bike until you accept the offer. Getting the tyres off might be a bit excessive! Even if you get those bits off, I wouldn't accept less than £3400.

If you can, get some trade ads for similar bikes. I found one very similar to mine (same mileage, year, etc.) and the price was £3900 - close to what they ended up paying. When they look at offering you more money, if you have evidence of how much similar bikes were being sold at around that time, they're more likely to give you more. Above all, don't accept their first offer, act offended and ask for more and you'll likely get it.

Hope you get a fair price for it. And another SV :)

[will]

gut feel, £3/3.2k make sure you get the alarm and other bits off it before they take it away.

to strenthen your case, find as many ads in bike trader or mcn with high as poss prices and show those to the assessor - it might persuade him to go a bit higher.

my '03 had £2500 damage and they repaired it, although to be fair £500 of that was discovered only after they had taken it apart and done some of the work. was expecting that to be written off but it wasn't.

[TSM]

way more than that, £2500 will get you a second hand SK2 curvey.

and why would a pointy owner go for a curvy?

It was a comparison, an curvey costs what he was being offered and his bike is newer so the offer is way off target.

[Dicky Ticker]

First thing to remember is make sure that they do not deduct any excess
K3 20months old 12000+miles Skidmarks lowers and hugger Wolf exhaust without the baffle Fabrinni d/bubble and brand new BT20'S with 73miles on. I accepted £3300 and although you will find bikes of high value advertised ,they all up the price expecting to be knocked down to make a sale Maybe I didn't hang out for more but I only paid £3800 for it brand new so I cut and run Hope this is helps

[skidmarx]

Thanks for that, I have an idea what to expect. They haven't made me an offer yet, Just know it's gonna be rubbish. I'll push for £3800.......but I wont hold my breath. AND I'll get the garage to take of the alarm ready for my nice new shiny black k5 if I can afford it now....

[SVeeedy Gonzales]

Thanks for that, I have an idea what to expect. They haven't made me an offer yet, Just know it's gonna be rubbish. I'll push for £3800.......but I wont hold my breath. AND I'll get the garage to take of the alarm ready for my nice new shiny black k5 if I can afford it now....

My route was:

1) Look in horror at the tiny amount they've offered.
2) Call and say it's not enough, send in ads. They wanted to see my V5.
3) Get second payment. Tell them it's still not enough. Ask for the name of/write to the head claims guy, stating case, citing the ads, etc.
4) Get third payment. Tell them it's still not enough and you'd like to take the whole thing to an independant arbitrator. Hold on whilst they go very quiet. They all have this final step and it costs them a lot to go this route, so they'll pay one more time to stop it going there.
5) Accept fourth offer, trying to sound like you're really doing them a favour.

But then £3100 for an average miles K4S was a low starting point - if they're offering a fair amount you won't need to go through any/most of those steps!

[Cloggsy]

Hi, Anyone got any advice for me? I got knocked off by a car pulling away behind me at a busy junction. They have apparently admitted liability and we are both insured by the same company. The bike has been estimated as needing around £2500 worth of repairs! GREAT! Not suprisingly the ins co have written it off. BUT...... I had a laserline alarm, scotoiler, and a virtually new pair of Z6s' on it! It's a 2004 sv650s with 8400 miles FSH and not a scratch before the shunt. I not happy about buying second hand really so may have to stretch to a new one. What do you think I should expect as an insurance payout and how can I lever up the offer? I'm gonna need a new helmet too.......Flippin' heck........been without a bike now for 3 weeks.......

If you get the chance, buy the bike back off the insurance (if its a cat 'c' or 'd',) strip it & sell the bits, or repair it y'self for a quarter of the cost ;)

Then you get to keep all your 'goodies' :takeabow: "I thank you"

[JediGoat]

When my bike was written off, it was valued at £2900. I'd paid £3200 for it 3 months earlier. I spoke to the assessor regarding the aftermarket can, but he wouldn't add anything on for that (or the alarm) as they were on the bike when I bought it. However, he did add £100 on for the scottoiler that I'd had fitted as it couldn't be removed from the bike without the use off a chainsaw :shock:

I guess it's useful to keep receipts for any mods you have done- then you can prove the cost/value of them (although the guy took my word for it, and I wasn't asked to provide any proof).

HTH

Jo