What happens if bike is totaled?

[Tearless-Tom]

As many of you know I was rear ended by a drunk who left the scene last week.

Damage is mostly cosmetic and the bike is drivable except for the fact that I now have no tail ,brake, or turn signals in the rear.

I have been going through the HDL site at the replacement parts for all the parts damaged. As of now the price tag is $3,362.26 for parts alone. Add an additional $1500. for paint and labor and it is $4,862.26

KBB trade in is $4,185. in good condition  Retail is: $6,070.

So I am estimating if repaired with new parts and my estimated paint and labor charges I am at 69% of retail. and 116% of trade in.

At what point do insurance companies total a vehicle and if they do how do you buy it from them and re-register it as a drivable vehicle?

Any and all thought are appreciated.

Tom

[MP]

Will have to work with YOUR company.  If you could, get them to pay you for totaled bike, and buy it back for salvage.  Then, work with USED parts, and your labor, and get it done for a fraction of the cost.

MP

[Smokinjoe]

Will have to work with YOUR company.  If you could, get them to pay you for totaled bike, and buy it back for salvage.  Then, work with USED parts, and your labor, and get it done for a fraction of the cost.

MP

Just keep in mind with a rebuilt title no bank,credit union etc will loan money on the bike that means if you ever sell it they will need cash on hand and a rebuilt/salvage title does lower the estimated value greatly. This bike was totaled and I put it back together with help from friends,e-bay etc.I'll never recover the money I spent on it...No Way

[Bob E.]

When I hit a deer back in 2006, my damages per the dealer were around $5000 and they did not total my bike.  They (Progressive) valued my bike (1999 Valk Standard) at something over $6000 plus $3000 in accessories.  So it was over $9000 total value.  I really thought they would total it and the damage was severe enough that I almost wished they had, especially given what they would have paid me for it.  I replaced almost everything from the steering stem forward including the triple trees.  About the only thing I didn't replace was the front wheel and lights/gauges.  They told me that whether they total it or not was based on the salvage value of the bike which was around 45% of retail.  They said that if the damages exceeded the difference between salvage and retail, then it would be totalled.  I forget the actual numbers they were using as far as the value of my bike, but basically, I was about $500 from being totalled when all was said and done.  My radiator was bent slightly and if they had chosen to replace it at retail cost (over $700), they would have totalled it.  However, the shop said they could bend it back into shape to repair it.  They then paid me the $5000 from the dealer estimate with a reduced labor rate ($25 for me versus $75 for the shop), and I repaired it with new OEM parts from HDL for a little over $3000.  I had enough left over for Progressive shocks and fork springs and the remaining pieces of the Ultimate Seat (I already had the rider seat).

I'm with Joe on this one.  If they total it, I'd let it go and find another one.  They are out there.  That salvaged title will create some issues with banks and insurance, plus really devalues the bike and makes it really hard to sell later.  If they don't total it, get your parts from HDL, fix it yourself, and save a bunch of money.

[hoser]

As many of you know I was rear ended by a drunk who left the scene last week.

Damage is mostly cosmetic and the bike is drivable except for the fact that I now have no tail ,brake, or turn signals in the rear.

I have been going through the HDL site at the replacement parts for all the parts damaged. As of now the price tag is $3,362.26 for parts alone. Add an additional $1500. for paint and labor and it is $4,862.26

KBB trade in is $4,185. in good condition  Retail is: $6,070.

So I am estimating if repaired with new parts and my estimated paint and labor charges I am at 69% of retail. and 116% of trade in.

At what point do insurance companies total a vehicle and if they do how do you buy it from them and re-register it as a drivable vehicle?

Any and all thought are appreciated.

Tom

If you plan to keep it, that salvage title don't mean squat, you would still need liabitity insurance, along with medical coverage, but no need for collision, unless you want it.  It won;t be long before value is down enough that collision won't be worth it for any of us.  Besides, you said they did not total yours, so you have no problem.