Avoid salvage and fix?

[JakesKTM]

What is the name of your state? California

While parked and unattended, my motorcycle was backed into and damaged. The driver contacted me and provided insurance.

I arranged for the tow to collision center (bike was technically unrideable), and contacted party 1's insurance to open claim.

Colllsion repair estimate came in and exceeds fair market value.

I want to keep the motorcycle because of custom work and mechanical upgrades and labor invested. Most of the damage is cosmetic and replaceable.

Can I force his insurance company to fix the bike?

 

[JETX]

Can I force his insurance company to fix the bike?

Simple answer... no.
However, you can offer to purchase the bike from the insurance company for the same amount that they are offered for SALVAGE. If you do get the bike, you will have a salvage title... and can then spend what you want to repair the bike.

 

[CraigFL]

The only way I know to deal with this is to have them pay you their maximum for the claim, Buy the bike back from them(once they pay you the max claim, it's their bike) and then repair it.

 

[JakesKTM]

Should I challenge a CCC or other company valuation report?

I ran real time comps on Ebay and Craigslist and came up with accurate fair market value that is above thier offer.

 

[JakesKTM]

sorry.... just a couple more questions

1) how do I determine what the salvage cost will be for the bike so I can offer?

2) I had a major service done less than 1,000 miles ago. The service was $1,000!! Can I use this to increase fair market value? It doesn't seem fair that I lose use of new tires and service.

 

[JETX]

Should I challenge a CCC or other company valuation report?

No one can tell you what you SHOULD do.

I ran real time comps on Ebay and Craigslist and came up with accurate fair market value that is above thier offer.

Those are NOT 'fair market value' cases. Get LOCAL sales or values (Kelly, Edmunds, NADA, etc)... and if you don't like their number, try to negotiate an increase. If unsuccessful, your only options are to accept or litigate.

 

[JETX]

how do I determine what the salvage cost will be for the bike so I can offer?

YOU don't. You have to ask the insurance company how much they want for the salvage. If you agree... buy it. If you don't..... don't.

I had a major service done less than 1,000 miles ago. The service was $1,000!! Can I use this to increase fair market value? It doesn't seem fair that I lose use of new tires and service.

New tires have a value.... maintenance does not.

 

[JakesKTM]

I do appreciate your help... and I don't want to sound argumentative. I've restored, bought, and sold motorcycles as a hobby for 15 years and use Ebay and Cragslist not only as a marketplace to buy and sell, but to assess fair market value because KBB, and NADA values are not accurate with bikes that are more than ten years old. in this case the difference is $3,500 btween what was paid and what KBB/NADA says the bike is worth.

 

[ecmst12]

Well you can certainly give it a try. Can't hurt! But ads from your local area will be better (craigslist is better then Ebay, local papers are good too).

 

[JETX]

I've restored, bought, and sold motorcycles as a hobby for 15 years and use Ebay and Cragslist not only as a marketplace to buy and sell, but to assess fair market value because KBB, and NADA values are not accurate with bikes that are more than ten years old.

Now... you just have to convince the insurance company that ebay and craigslist are accurate for 'fair market value'. Good luck!!

in this case the difference is $3,500 btween what was paid and what KBB/NADA says the bike is worth.

What you paid has nothing to do with this... and it does not establish FMV.

 

[JakesKTM]

Now... you just have to convince the insurance company that ebay and craigslist are accurate for 'fair market value'. Good luck!!

More accurately I would have to convince a small claims judge because ultimately that is where it will end up if they do not agree. I will definately try. And I am not intimidated by appearing in small claims court....since that is where I work

I just thought that the other party's insurance is bound to fix or replace my vehicle. Now here is where it gets interesting: CCC is settling (as I type this) a nationwide class action lawsuit for under valuation practices on totaled vehicles since 1989.

Some other points....The parts list of what needs to be replaced on my motorcycle is of a higher value. Not labor....but PARTS! How does a vehicle become less valuable than the the sum of it's parts??? It is the other way around. A vehicle has more value as a working unit, than a deconstructed mass of parts.

However, I have the right to recover those parts as damaged property. What precludes me from claiming those parts as a a constructed unit or deconstructed unit??

What is the bike's value based on, what the market is willing to pay? I can prove what the market is willing to pay via Ebay and Craigslist than I can via the classified ads inthe paper! That's easy...... print key print key print key....

 

[JETX]

If you really insist on taking this to court.... you need to be aware of the following:
1) If they know or find out that you 'work in that court', you can count on them escalating it out of the small claims court to the Superior Court.
2) You will have to sue the other driver... not the insurance company. You will have to prove the other driver is liable first, then the amount of damages.
3) The defendant will have a licensed (competent) attorney to challenge your claim.... provided by his insurance company.

Hate to burst your bubble, but this will likely NOT be as simple as you (apparently) believe.

Oh, and if you do win and they pay... you don't get the bike... and the bike will now have a salvage title.