QuestionQUESTION: The company cannot find the cause of the fire. They want to total the bike, yet it's repairable, which is my preference. It has been over two weeks since the loss and they are dragging their feet on the "investigation" saying they are waiting for the manufacturer to get involved. How can I get them to settle this claim? I am going to be looking at a minimum of three to four weeks on the repairs and parts alone and that's after they settle.
Thanks, Joe
If you need more info let me know
ANSWER: Well if they are "waiting for the manufacturer to get involved", then they are probably looking for a way to deny the claim. And if it is covered, the insurer only owes to repair or replace, whichever is less. So if you really want it repaired, conisder buying the salvage back and repairing it for the best deal you can get. Most motorcycles become total losses due to cosmetic damage such as scratches, so the bike is still driveable. On the other hand, you can just get another used motorcycle like yours, IF the insurer does a fair valuation, and let the insurer have the salvage.
This is no different than settling an automobile total loss and you can get lowballed by the insurer in the same ways. You can get eBooks on that at UClaim.com.
Ron Cercone
http://www.uclaim.com
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QUESTION: I don't understand why they would pay a claim to "total" the bike at 20,000
when the best guess estimate would be 10,000 to 11,000 to repair it.
It doesn't make any sense. Moreover if they couldn't find an immediate cause for ignition I assume they would suspect arson. However, two weeks and they still cannot find a source or cause, isn't that a little lengthy. The only answer I get is they are waiting for the manufacturer to see if they can subrogate. That's their problem not mine.
Also they moved the bike to a salvage pool without my permission. I wanted the bike taken to the dealer. Is that legal?
AnswerThen they think the salvage value is over $6,000.00. Here is the formula most insurers use: Total settlement times 80% minus salvage value. Insurers will not risk repairs exceding 80% of value because they fear a supplemental bill from the body shop. And they have a right to the salvage if they buy the motorcycle from you. It is actually much more involved than can be explained here with a quick answer. If you don't know what you are doing, you will get out smarted. It is like a chess game that changes with every communication with the adjuster. These guys and gals do this for a living. They will slip the knife in your back as well as any lawyer. Thats why I wrote an eBook on the subject.
And do you believe their "subrogation" story? This is no reason to delay payment to you. They could mess around with subrogation for 6 months AFTER they pay you. No, they are just using the manufacturer to find another reason to deny your claim, IMO. Your insurer should have hired their own causation expert. Find out who that is and get his report. You see my friend, they are already twisting you around.
No, they can't move the motorcycle without your permission. Get it back to a location of your choice before they deny your claim and their salvage pool hits you with storage bill bigger than the bike's value.
But I bet you saved alot on your premiums with this cut rate insurer, right?
