posted September 25, 2006 09:22 AM
INSURANCE CLAIM Well, guys, after a month's wait,after my 04 zx10r was stolen, insurance came back with a figure that I think is horse shit... I only had 3000km's on this bike and aftermarket parts, including full akro system. A dealership told me they'd take it as a trade in for $11000 CAD
Insurance wants to give me $10175 and then take my $250 deductible off too, so this leaves me with $9925...
Any of you guys know wether I can fight this somehow??? or am I basically just to bend over in take a good pounding up the ass????!!!
Am I ever going to love making payments on a bike I don't have.... Anybody reading this forum that's into the stolen bike business, hope you all die and burn in hell....
Needs a life
Full throttle!
Posts: One MEEEEEELLION
posted September 25, 2006 09:41 AM
so you are face down on the bike? owe more than it's blue book?
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82 Gpz750, 84 Ninja 900, 2000 ZX12R (Muzzy Big Bore Kit), *another* 2000 ZX12R (Muzzy custom stroke crank 1341cc motor), 2004 ZZR1200, 2005 ZX10R, 2007 ZX14, 2008 Concours 14, 2014 Versys 650, 2014 Yamaha WR450F, 2015 Ninja H2
posted September 25, 2006 05:05 PM
Dude...I can buy an 05 brand new today for 10k...06 for 12k...insurance is giving you more than it's worth. An 04 is worth less than 8.5k The dealer is either an idiot or was planning to charge you 20 over MSRP...sorry, but that's the drill.
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FYYFF!!!
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posted September 25, 2006 05:15 PM
Getting $9925 isn't really that bad. It could be worse. NADA give a "Average Retail" of $8402 (CAD). That is including a $168 (CAD) allowance for an aftermarket exhaust. In US dollars, the AR value is $7525.
Yes, I know an akro is more than $168 and yes, I know that you had other items on the bike. Did you have "replacement cost" coverage? Did you tell your insurance company to create a insurance rider to cover these additional aftermarket items? Many insurance companies require one if you wish to have the additional coverage. If you don't get one, they have no obligation to recognize the additional items or their value.
Yes, I'm aware that you say a dealer offered $11,000 ($9850 US), but that dealer's offer is not usually a reference used by insurance companies. Especially when it is above the "recognized retail value" assigned to that year, make and model of bike. Sources like NADA (or what ever the Canadian equivalent is) are what they more often use. I would be interested in seeing what the Canadian version of NADA (or what ever the CN dealers price used bikes with) values the bike at.
I'm not saying that you didn't get screwed. Getting you bike stolen is the biggest screw of all. Still, your insurance company seemed to give it their "highest retail" value in consideration of the low mileage (kilometers) and aftermarket items. Anything more and you'd have to have your brother as your insurance agent (and he owes you a favor).
On a "brighter" note, the payoff of the loan should be a lot less then the total loan value. Here's hoping you at least get a break there. With a loan at over $15K, the interest could be close to $4K. Still, having to give them any money to pay off a loan for something you don't have and then be left with nothing to show for it is the biggest screw of all!
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There are only three sports: bullfighting, motor racing, and mountaineering; all the rest are merely games.
-Ernest Hemingway
posted September 25, 2006 05:24 PM
If they give you that then you are making out good. When my '04 was stolen it was only 10 months old and the insurance company gave me $8200 for it. I lost over two grand on that bike. What got me fired up was when a guy I know wrecked his 954. The 3 yr old bike had 34,000 miles on it and was in two accidents before. The insurance company gave with $1700 less than what he paid for it new. Somehow that just didn't seem right to me but what can you do.
posted September 26, 2006 06:15 AM
Well, guys, thx for the input. I guess I'll take the money and run. But you guys made me realize what I need to do for my next bike. REPLACEMENT VALUE,ACCESSORIES INSURANCE..... etc..
Most likely will buy a 2007 zx10r.
Which brings me to another point.... I have a green seat cowl for 04 zx10r and front and rear stock indicators. Anyone interested in buying them?
posted September 26, 2006 07:40 AM
DON'T TAKE THAT ...Tell the insurance assholes to find a replacement (same year same model) and see what they come up with . I have a 1989 zx10..i bought for $1500 (CDN) in 96..got a good deal...in 97 a guy backed into it with his pick-up, smashed the hell outta it ripped of the right exhaust ,lots of cosmetic damage and so on . My insurance guy called me 2 weeks later and told me they looked all over and could not replace it ..couldnt find one , but would i be happy with a $5000 check ??? DUH! would I ?? And i bought my bike back for 500 . Lets just say the Ol' 89 is in pretty nice shape
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OOOO! Thats gonna hurt right away!
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posted September 26, 2006 09:59 AM
quote:DON'T TAKE THAT ...Tell the insurance assholes to find a replacement (same year same model) and see what they come up with .
It might be worth a try, but all I got to say is good luck. Without some sort of "replacement" coverage, they won't be obligated to "go shopping" for him.
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There are only three sports: bullfighting, motor racing, and mountaineering; all the rest are merely games.
-Ernest Hemingway
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