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Discussion Starter · #1 ·
i keep hearing that insurance is supposed to put you back on the road as good as you were before the accident. they don't mention depreciation and all the other nockdowns.

the offer for my bike is 3022.00, for a 85 limited in beautiful condition with 44,000 miles, the NADA lists it at 4305.00. they listed 3 bikes as comparison.
1. 85 interstate w/61,498 mile average condition 3,895.00, they deduct 630.00 because mine is only an limited edition and 93.00 for my milage. 2. 85 interstate average condition 26,015 miles includes soft saddle bags? lists for 3995.00, deducts 748.00 because mine is only a 85 limited and deducts 25.00 because mine has am/fm cass stereo and cb.
3. 85 aspencade 77,458 miles average condition sell 3199.00 deduct 1005.00 because mine is an 85 limited, add 291.00 because of milage.
the ltd has fuel injection, auto level, rear speakers not found on these models.

they have totaled my bike even though two dealers said they can fix it one around 4,000 the other around 3,500 it still runs and looks great, just ligth cosmetics. on the cheaper one they list the wind shield as window garnish.

my gear i was wearing was only a few months old( helmet, armour pants and jacket, boots, and mp3 player, glasses), the total comes to 996.00 they failed to add to checks they sent. but said they will be depreciated. i had most reciepts or down load from cycle gear web.

they figured loss of use for 14 days, they where supposed to replace in 30 days it was over 2 months from accident and amount was under 300.00.

my attorney is a big firm in las vegas, i learned that the attorneys specialize in injurey and know little about property as they make no money on vehicle settlements. my associate is trying to help but has no experience with bikes or add ons. he is trying but really has little or no advise but sent them a rejection letter and detail of how obsurde there offer is.

i also learned that if my medical goes over their and my insurance i am out of luck and have to sue the other driver. i will be upping the medical on my insurence.

i spent over 20 hrs on ebay and used bike sites to figure replacement of add ons( cb, trailer hitch and wiring, heal toe shifter, saddle and trunk lights, back rest,plus more), it would cost @ 1770.00 for add ons most used and some not found. they want reciepts and date of instalation. on all items, how many people have reciepts back that many years. this also does not include installation.

just to let you know.
 

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:shock::shock: That insurance company is trying to screw you. I know that they usually only pay out "Fair Market Value" for totalled vehicles and the cost to repair yours was more then 70% of the value of the bike which is why they consider it totalled. But to only offer you what they did is almost criminal. From what I can see in your avatar pic, it was above "Average Condition" Do some research of your own on the asking prices for 85' wings and take what you find along with any comparison pics of your bike before the accident and the wings that are on the markert back to the insurance adjustor and prove that your bike was above average condition.

Ohhh and who by chance do you have insurance with? If it is the same as mine, I may be looking for new insurance soon.
Good luck and keep us updates. :waving:
 

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The only way one MIGHT get true value for your bike is to have it appraised prior to buying the insurance but of course expect to pay a higher premium.

My insurance wont insure for other than third party liability unless the bike is appraised.
 

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Find the original selling price of all 3 85 models to show them your LTD is not the cheap model.
 

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This is pretty normal for most insurance companies. They basically force you to sue the offending party if it wasn't your fault that the accident occurred. If you picked limited tort when you set your policy, if that is offered in your state, then you pretty much lost the right to sue.

The only insurance companies that operate differently are the ones that insure classic and antique vehicles like Hagerty and Grundy. With these, you set the value of the vehicle if there is a complete loss and the premium is based on this value. There is no depreciation. They don't qualm about the value the owner sets unless it is over $20,000 and then they require an appraisal to be submitted at the time of application for the policy. I do believe that they will insure motorcycles over 20 years old. The premiums are most excellent and the customer service is second to none with these companies that specialize in these vehicles.
 

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Find the original selling price of all 3 85 models to show them your LTD is not the cheap model.
Dave is spot on with that suggestion, start with the "Known" things then work your way backwards as you have with the other things that you can no longer get new.
 

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Discussion Starter · #7 ·
i gave them copies of ebay, craigs list and other independant and dealer prices my bike is selling for, they ranged from 3,999, to 6,999.
 

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Insurance companies are in business to make money for themselves. Any that say they are to make you 'whole' if something happens are just giving you a bunch of p**p.

'Stated Value' insurance for older bikes with add-ons is almost a must. In many cases you don't need an appraser, you just send photos and give details, then you agree on a set value. Many also have minimum limits too, and this is why I could not get that type of policy on my 78 CB750A. Keeping records and recipts is critical, as are PHOTOS.

With 'regular' insurance you need to keep in mind that for every ONE person that has a really nice and well optioned 'classic' bike that was damaged they probably have ten people that CLAIM their bikes were nicer and worth more than they really were. They do their best to weed out the scammers, but at the risk of paying less to those that deserve more. This is the same for SSD; they decline almost all claims the first time they get them as many scammers only try once, the people that re-apply get looked at in more detail before the make rulings on them.


Bill
 

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I'ts a bit like property taxes where I live you fixup your your house and its value increases so they want to raise your taxes while your Nebour neglects his property and pays less tax but his dump lowers my property value but I don't get a break for that.
Yea the guy that has a Junker bike makes out better on insurance.
I do restoration work for insurance companies. If you have a house with replacement cost insurance and it is a dump it will be brought back to new in a major fire. If you just redid you house it will be bought back to new same as the dump house. So the guy with the dump made out great and the guy with the next to knew house was just in convinced and gains nothing.
Wilf
 

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If you don't mind, what insurance company are you dealing with ??
 

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Discussion Starter · #11 ·
her company is workmans, mine is progressive.
 

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I am very experienced in the purchase/sell of LTDs and can assist if requested.
 

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I was married to an insurance adjuster for 14 years. If you had "replacement cost" policy, they HAVE to REPLACE the bike. They will hem and haw, make BS offers, but you pay premiums for replacement cost, then they cannot breach that. They will, however, try. Also, you CAN sue the cager, if you come up short on the settlement. But that is YOUR insurance companies job to pay you, and then go after the cager. They don't want to spend the $$ on their lawyers to represent you. Arch your back and raise hell!!!! PM me if I can help. jimsjinx
 

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That sure doesn't play well with me being with Progressive
 

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That sure doesn't play well with me being with Progressive
Im not sure it matters anymores foodman. I think any insurance company will find a way to not pay out a claim rightfully, or at all.

I remember years ago back in the 60's, 2 different incidents. One, My aunt was in a parking lot and she was backing out of a spot and hit the car next to her. No damage to the other car as she hit their bumper but it put a nice crease in her rear panel. No police report, nothing, she drives to her agent, who does the paper work and writes her a check on the spot. A week later the car was repaired and all was done.

The other time my father had hit a deer. It was an extremely snowy night and my father had his car towed home, about 15 miles by the local Police officer...... with the deer on the hood of the car. Once again, the insurance agent shows up, totals the car, got the blue book out and wrote the check on the spot, 2 hours later my father is on the car lot buying his next car so he could go to work that night........

Boy have times changed........

And the best part is, Progressive is going to get back whatever it is they pay out from the other insurance company...... Progressive will be out nothing, but will still raise the rates of the claimant..........

There needs to be more state oversight of insurance companies.
 

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I agree.. You'll never know how good your insurance is until you need it...........
 

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Sorry to you had the damage to your gear and bike but glad there wasn't worse damage to you.
Over the years I've had claims to several insurance companies for damage to my vehicles and a couple of incidences of storm damage and overall had fair treatment. On one accident when my car was hit and totaled by someone T-boning it I had to refuse the first offer and ended up settling for double the original offer. You don't have to take the first offer. I don't blame companies for trying to keep the claim payments down one should expect it. It's not fun but it's the way it's done.
I'd be very surprised if you could get much more than $3000 out of an '85LTD. The best I could get out of a nice '86SEI with 40,000 miles ten years ago when I sold it was $3800. You may see higher asking prices on eBay and Craigslist but those are asking prices not selling prices. Decent 1500s are selling for high 3ks and low 4k prices now. Unless you have an insurance policy that's written to provide replacement cost you can't really expect to get what you have documented in the bike.
 

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Discussion Starter · #18 ·
i am going through hers as i believe progressive would only make i offer that would be low. i don't think your insurance will give you any advice that might come back at them if your claim goes through them.
 

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You're in the city of the worst scumbags on this planet, hire one of them and get your money back with something to spare.
 

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I have been screwed over by insurance companies 3 different times. AZ laws allow them to get away with it. Your only option is to sue, and if there were no injuries, no attorney will take the case. And in cases where the loss is no more than $2000 or so, an attorney will cost way more than you get even if you win. I only have minimum liability on all my bikes, simply because state laws here make it too expensive to put full coverage on them, I wouldn't get hardly anything back. I also have minimum liability only on my 12 year old transportation car. But, I have two vintage cars, a '72 Pinto and a '64 Fairlane with full coverage on them. Believe it or not, it only costs $132 a year to insure them both, and they are insured for a predetermined amount, $3600 apiece. They are insured as collector cars, and there are severe restrictions, they are limited to 2500 miles per year, no transportation use, and must be kept in a locked garage. Not that the insurance company would ever know about any of that. I just did it that way to make them legal to drive. I don't plan on filing a claim.

Sorry it looks like you will lose a nice LTD, there are very few nice ones left. Mine was pretty well trashed by probably several POs, and by the time I got it there wasn't much left. I had no idea what it was when I bought it.
 
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