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Message started by runwyrlph aka limpaway on 01/22/14 at 15:31:29

Title: What would be a reasonable salvage price?
Post by runwyrlph aka limpaway on 01/22/14 at 15:31:29

(Finally) heard from the ins. co. today. My '07 is a total loss. I'm thinking about buying back the remains to tinker on. What should that cost me? $200 ?

Also they haven't told me what the total loss $$ is. How do they calculate that? Is it based on replacement value, comparable bikes for sale, or what?...

Title: Re: What would be a reasonable salvage price?
Post by Steve H on 01/22/14 at 15:35:58

Last I heard, it is roughly if the repairs exceed the market value of the vehicle in the condition it was before the loss.

Title: Re: What would be a reasonable salvage price?
Post by runwyrlph aka limpaway on 01/22/14 at 16:22:07

I guess I meant how do they determine the "market value", or how much they pay me for the loss?

Title: Re: What would be a reasonable salvage price?
Post by verslagen1 on 01/22/14 at 16:47:41

look at craigs list and the recycler for prices for your year and local to you. If you can't go out and buy another from what they give you then it's too little. also, any upgrades will get you more.

think mine was 150 to keep.

Title: Re: What would be a reasonable salvage price?
Post by S-P on 01/22/14 at 19:06:40

67706E60606C7A030 wrote:

Don't know about buy back, but I've had a couple cars totalled and played hardball with the insurance company and got at least half again more than they offered me. You need to be sure to let them know if you did any upgrades, improvements, new tires etc. plus emphasise the condition if it was mint etc. Local prices for similar bikes is a good thing to have on hand.

Title: Re: What would be a reasonable salvage price?
Post by old_rider on 01/22/14 at 20:31:50

Get a copy of Kelly blue book " Retail" price, maybe do a ebay or craigslist and print the highest offers. Fax or email them to the insurance company just to let them "know the going price" for the motorcycle.
A copy of current prices from your nearest dealer would be good also.

Hope this helps....

Title: Re: What would be a reasonable salvage price?
Post by houstonbofh on 01/22/14 at 20:40:02

1) Total loss... If the salvage value plus repair is more than the market value, they total it.

Now it gets fun...

They will low ball you. Have comps. That is similar bikes in your region (or wider) for sale right now. Ask for their comps. You should be able to buy the bikes they show you. Look at them. (You might buy one) But you might find substantial defects that remove them from the list. (Often on the lowball ones) Also, you might find the numbers they list are not the asking prices. Seriously! For me, I had the same vehicle as them listed as a comp and the prices were very different. The responded, "Well, that is what it will sell for." But I had a note from the owner refusing to sell for that amount, so they had to use my number... (You need paper documentation justifying your number and hurting theirs.) And so it goes. Eventually you get to a number where you just don't want to fight anymore.

Title: Re: What would be a reasonable salvage price?
Post by justin_o_guy2 on 01/22/14 at 20:45:59

When I crashed the insurance company paid me for my leathers & boots, because they got scuffed, but I kept them, no $$,, I didnt try to keep the bike.,,point is, if you were wearing any Riding Gear & it got damaged AT All,, get paid,.

Title: Re: What would be a reasonable salvage price?
Post by runwyrlph aka limpaway on 01/23/14 at 09:25:34

thanks guys, good advice! Sounds like negotiation is the key here.

JOG, yeah my left boot was damaged just a little... (scrubbed thru to the bone)! Also the EMT's cut my best pair of jeans off me, they were nice enough to take my jacket off instead of cutting it, but that turned out to be a mistake, since my shoulder dislocated in the process (ow!)

I'm gonna go look up some comp's now, try to be prepared...

Title: Re: What would be a reasonable salvage price?
Post by arteacher on 01/23/14 at 09:34:20

In 2009 someone t-boned my 20 year old Land Cruiser. Of course my insurance totalled it, and told me I would get $2700 for it. I did some internet research and found three for sale in Canada. Two were incomplete rebuilds for $4-5 thousand and one was exactly like mine with the same milage for $7000. They wound up giving me $4500 because mine needed rust work.
So don't just lie down and take what they offer.

Title: Re: What would be a reasonable salvage price?
Post by Arnold on 01/23/14 at 09:35:45

That must be why I see guys riding in shorts in summer.

Title: Re: What would be a reasonable salvage price?
Post by justin_o_guy2 on 01/23/14 at 21:11:10

Blue jeans problee wont be covered.. the boots, yea. if the jacket was Motorcycle riding gear, yes, If it was Chess King, or JC penny,, not likely.

Title: Re: What would be a reasonable salvage price?
Post by S-P on 01/23/14 at 21:20:10

Quote:

if the jacket was Motorcycle riding gear, yes, If it was Chess King, or JC penny,, not likely.

CHESS KING? Wow... either I haven't been to a mall recently or you and I are freakin' old.... ;D

Title: Re: What would be a reasonable salvage price?
Post by justin_o_guy2 on 01/23/14 at 21:30:58

Well, both,, I havent been to the mall AND Im freakin OLd And, I still have my $100.00 leather jacket. Its about 23 & looks like butt,, But Im not ditchin it,,

Title: Re: What would be a reasonable salvage price?
Post by S-P on 01/23/14 at 21:36:35

392620273A3D0C3C0C34262A61530 wrote:

Well, both,, I havent been to the mall AND Im freakin OLd And, I still have my $100.00 leather jacket. Its about 23 & looks like butt,, But Im not ditchin it,,

Title: Re: What would be a reasonable salvage price?
Post by old_rider on 01/23/14 at 21:43:07

23243526353E2031253C500 wrote:

[quote author=392620273A3D0C3C0C34262A61530 link=1390433490/0#13 date=1390541458]Well, both,, I havent been to the mall AND Im freakin OLd And, I still have my $100.00 leather jacket. Its about 23 & looks like butt,, But Im not ditchin it,,

I actually think I still have a Chess King leather jacket in my basement, but it's a rancher's "Outback" long coat. Not much opportunity to wear one of those in Phoenix so it's still in mint condition. Unlike it's owner.... ;)[/quote]

You mean it don't get cold enough there to wear it? I'd wear it and my boots and hat just to see what folks reactions would be, course long grey hair and a mussy beard would add to the effect... I'm finally getting to work on the long hair as its growing back after treatment. :)

Title: Re: What would be a reasonable salvage price?
Post by S-P on 01/24/14 at 15:45:24

Quote:

You mean it don't get cold enough there to wear it? I'd wear it and my boots and hat just to see what folks reactions would be, course long grey hair and a mussy beard would add to the effect... I'm finally getting to work on the long hair as its growing back after treatment. :)

Yeah, it hardly ever gets cold enough to go out in public with a real coat. I do have the beard... unfortunately the hair went naturally ;) I'm glad yours is making a come back! Maybe the coat would look good with this and some sunglasses... You gotta scroll the picture down to see it all Ha! 8-)