Insurance Blues

[Spunky99]

Here is my predicament.
My bike was intentionally knocked over by a car last year. It broke the clutch side case and cracked the fairing. I took it to a bike shop and they did an estimate for $200.00 under the lowest value on both NADA and Kelly Blue Book. The insurance company paid me the damages and I thought OK....no problem

I tried to renew my registration and the DMV sent me some forms and an 11 point checklist that includes a $180.00 registration and salvage title change with license plate surrender. yadda yadda yadda.

So the insurance company decided to send in documents to the DMV that said my bike was totaled at $200.00 under the lowest possible value and now I have to jump through hoops to get it re-registered and my resale value just took a 90% hit. Salvage title resale is crap.

Now understand I have a 1998 Daytona 955i with 21.5K miles and the bike looks cherry and runs like new. These are unobtanium...there isn't another one out there for under double what I was paid by the insurance company and they aren't nearly in as good a condition as mine and all have double the mileage. That is if you can find one.....The guys with the Speed Triples have taken the cam out of the used ones to get the Daytona power.

So what should I do next?

 

[JSP]

They never told you they were going to total it???

 

[bmw675]

Are you asking what you can do to recoup the money or if you should move on to something else?

When I was in a wreck about 5 years ago, I was told that I had 2 years to settle any claims. Can you go back to the insurance company and claim a loss in diminished value due to the other driver being at fault? Not sure how that works or if you had a final price settled when you cashed their check the first time.

You are right, I hardly ever see a 955i around. True shame yours went down the way it did.

 

[Spunky99]

They never said anything about totaling the bike. It was only an argument about the settlement.
Glad to hear I have 2 years.

 

[MNGreg]

When I have had 2 cars totalled on me State Farm told me by phone (haggling over amount was done by phone )and by letter when they sent the check. (T-boned by a red light runner, and brake fail on the other). As mentioned I would definately go back to the insurance on this.. But yet if you cash the check, I think that is also a legal acceptance as settlement from insurance.

 

[Spunky99]

When I have had 2 cars totalled on me State Farm told me by phone (haggling over amount was done by phone )and by letter when they sent the check. (T-boned by a red light runner, and brake fail on the other). As mentioned I would definately go back to the insurance on this.. But yet if you cash the check, I think that is also a legal acceptance as settlement from insurance.

The check didn't say anything about totaling my bike or giving up my firstborn to Rumplestiltskin or anything else.

I called AAA and they called back and told me to call my Lawyer. He gets to renegotiate the whole settlement then for free.....

 

[CrazyCawi]

But yet if you cash the check, I think that is also a legal acceptance as settlement from insurance.

This is 100% correct for minnesota. They dont have to tell you, all you have to do is cash the check and WHAMMY! All done you just settled on their terms.

 

[Schybrid]

yup, cashed check = bada bing, bada bang, done deal on settlement. i think the check even states it on it, or on the check attachment portion stub thingey.