Gutted!

[KiwiCol]

Got the report from the insurance co today, they say the bike is uneconomic to repair & is a total loss!  It's all superficial stuff but the agent has priced in new parts for everything, even parts that I consider only need polishing out and new parts that don't even require it.  The assessor has agreed with them by all accounts & they want to scrap my bike, hell, they're even calling it a wreck!
You've seen the pic's, there's not that much there really.


They said I can buy it back at tender if I want it, but they're de-registering it, so it'll need to be fully complied again. I don't want to loose my bike like this, feel ripped off & they'd adjusted the sum insured down & not said anything specific. I was under the assumption it was insured for way more than they're offering. They've got the documents to show the sum insured went down, so I'm stuck with that.

Think I'll try to get it back with the tender & use the settlement figure to fix it myself.


Yes they'll give me enough to buy another one, but I had lots of extra bits on it & they're all basically gone because of the lower cover amount.  Thousands just gone. 


A gutted Col tonight.

[Sweaty]

 
Shit Col, that really sucks mate, gutted.
Only you know how much you have put into it, so as long as it is easy enough to get it complied again in NZ ?, it might be worth doing. Tough decision to make.
I would sleep on it for a night or 2, then do the sums when the emotions are not so high (which is bloody understandable) and see what is best.

Keep us posted.

[Snapey]

Insurance companies are arse holes the world over Col. Your situation says a lot for third party property insurance only. That way you're covered for damage if another vehicle is involved but you have the choice of fixing your bike or selling the parts because you've decided if the bike's a write off or not.

[KiwiCol]

I was thinking the same Snapey, which ever way I go, repair or buy again, thinking of 3rd party Fire & Theft insurance, bugger the full cover.  They offer helmet cover & completion of journey cover, recovery costs etc etc, but only if you have a small claim, makes a mockery of their so called benefits and extra coverage.

[gsxbarmy]

That's a bugger Col - but no different to the U.K. did you have all the extras listed and the valuation adjusted to account for them? If not then can you remove all the extras to put the bike back to standard without them reducing the payout? If so may be worth just removing your additional parts and getting another perhaps. It's labour that is the killer in insurance claims.

But if not then maybe get it back and repair it yourself.

[KiwiCol]

Yeah I had them listed, they said they form part of the total & I can't have them back. I'll see how much it goes for at tender, maybe get it back & fix it or use it as a donor bike for the next one. Heaps of good stuff on there, I know as I've not long put a lot of it on there.

Hmmm, just thinking, did I actually add the Delkevic can & link pipe?  I've got the bazooka in one of the sheds. 

[ARH]

That's a complete bummer Col!  Hope you get sorted soon mate.... as we say in Scotland 'what's for yae will no go bye yae'!

[Andre]

Maybe a bit better in Germany. Know a guy who got for his wreck what he paid for after riding it for many years. He was pleasantly surprised. They also give you the money to do with as you please AND you keep the bike for no extra pay.

[grog]

also gutted for you Col. insurance certainly sucks. just starting to find out with my house. too boring to write . if theres 3 escapes they use 4. if your bike written off, you get payout but can it be re registered. enough payout to buy another bike? mate had his written off, paid out, they basically gave him the wreck. his vin was filed and not to be rre registered. that was a 2002 gsx14, he got 7g. few mths later wrote off a 2007 busa, gave him 6 g. figure that out. 14 had 120k on clock, busa 30 something. apart from that, not sure what you should do. dont know how it works in NZ. wish i could advise, i cant so it would be bullshit. bottom line is they should replace or fix yours back to how it was.

[Mick_J]

Thats crap news Col, some companies over here will only pay out what it will cost to replace the bike, they just look in autotrader for a bike with the same miles on it locally to you and thats your price, then the arguments start about condition and accessories etc.

[froudy]

That's crap news Col

Hopefully you'll be able to buy it back for a sensible price and rebuild it or whatever.
When my Bandit was written off they payed out as it was on an Agreed Value policy. I bought the bike back and rebuilt it even better than it was before the accident.

[Notty]

Thats a real bitch ! same happened to me but persuaded the assessor not to fit Kawasaki OEM exhaust at £1200 but a Vance and Hines for £600 which stopped the bike being written off 

[Kiwifruit]

Please ring me first thing in the morning
As you need to act quickly before they de-reg it

You could speak with the assessor and try to cash settle for the cost of repairs at a figure a little less than the total loss threshold.

Maybe even withdraw your claim Col.

[seth]

thats crap new col
is there anyway to buy it back and repair it as you rode it home after the accident and you said its all easily repairable .
hope you get sorted buddy .

[Red Biker]

Bad news indeed Col,
I hope you can find some way to get it back without losing on the deal, Insurance Companies are playing with a stacked deck the shisters!

A sad day if a fellow Black goes to the garage in the sky!