Need your help - please.

[qwerty725]

Hi everyone,

As you can see I am new to posting in the forum. I'm sorry that my first post is a request for help and that I haven't had a chance to be of help to others first.

On June 3rd I was in a motorcycle accident that left my bike, a 1990 K75, with minor damage, and me with more serious damage. Now I am dealing with my insurance company to get the bike taken care of.

The insurance company told me yesterday, that due to the age of the bike and the cost of parts, they are totalling the bike. They have offered me $2600 if they take the bike, and given me an option to keep the bike and also get about $1600 that I could use for repairs.

Here are some problems I have with that. This is a 1990 K75 standard, in showroom condition (well at least it was a couple of weeks ago!) with less than 6,000 miles. The damage to the bike is as follows:

Front axle - black plastic end on right side has road rash.

Black plastic headlight surround (this bike has the round headlight and this part is the piece that the headlight bucket attaches to and also makes the bottom part of the gauge cluster) The right front turn signal snapped off this and there is minor road rash.

Chrome headlight ring - has minor road rash

Front brake lever - bent out of shape.

Engine crankcase cover (right side) has minor scrapes but no dents.

Right radiator shroud - has two minor (about nickel sized) scrapes through the paint. No cracks or any other damage.

Right foot peg mounting plate - front foot peg snapped front end of mounting plate off and the plate needs replacing.

Right saddlebag cover has some road rash.


That's all that is wrong with the bike and they are totalling it. I could have probably damaged the bike more just knocking it over in my drive way.

The insurance company is telling me that because they can't find any other 1990 K75 standards for sale at this time the only choice they have is to go with the NADA classic bike value. They will not accept 1989, 1991, etc. bikes. This seems crazy because there aren't that many of this exact year and model that will ever be for sale at a given time. If this was a 1990 Honda Accord i'm sure we could find thousands of other examples to use for a value. But with a bike I think that is unreasonable and unfair.

Do any of you know how I can fight the insurance company and make them give me more for the bike, or at least more cash for repairs if I keep the bike? I know the repairs won't cost that much but if they want to total the bike they should have to pay more. As you all know, with these repairs this bike has a hell of a lot of life left in her.

I don't believe for a second that this bike, in this condition, with BMW hard bags, a Givi 45l topcase and only 6,000 miles on the clock is only worth $2600.

The trouble is I don't know how to fight the insurance company and make them realize that their valuation is ridiculous.

Please help!

Thanks.

[deilenberger]

Spend some time in the IBMWR Markeplace, and the MOA Fleamarket. Find comparable bikes - get the prices. Go to ebay - search for comparable bikes, and then look at "Completed Auctions" to see what they actually sold for.

You certainly can use prior year bikes to justify a higher price IF the earlier bikes sold for more than yours.

Contact a number of dealers - see if any have ANY K75's for sale, get the prices. Ask the dealers what the retail value of your bike would be. get that number in writing.

As a WAG - for a K75 Standard - a 1990 with bags and low miles is probably a $3,000-3,500 bike. Low miles are nice - but some people actually prefer more miles since it gets the bike past the clutch-spline-failure mileage. If the bike has ABS and it's working - add $300-500 to that price.

You can work with the insurance company. If it's your company - being firm that you feel the bike is worth more, and presenting them with a bit of proof will usually up the $$ amount they offer you. It sounds as if the damage is really fairly minor - and depending on how much the road-rash bothers you - $1,600 would more than cover the repairs. Used parts are easily available and much cheaper than new from BMW. If you were in an accident with another vehicle where the other driver/rider was at fault - and you're collecting from their insurance company, the bodily injury you mentioned gives you some leverage. I'd suggest in that case contacting an attorney and at least talking to him/her..

HTH,

[PAULBACH]

How about finding prices of like bikes on ebay or at http://www.ibmwr.org/market/?

[qwerty725]

I will see what I can find on other past sales. Thanks.

As for the other person - it was a hit and run so we don't know who it was.

Thanks.

[wndsrfr]

Hmmmmm..........thinking out loud here, a couple of things come to mind.

1. How much did you pay for the bike? (If it was a steal, don't go there.) If it was in the $3500 range that most of the classic K's are bringing, then use that along with ads from the websites and the ON magazine to substantiate the value. Pictures help to show the condition just prior to the accident.

2. When a deer "totaled" my '93 Volvo 240, I did the eBay bit to push up the value on it and they (USAA) accepted that. Good folks, BTW.

3. I retained my Volvo for only about $250. Seems to me that they're claiming that your bike would be worth $1000 to them to auction. That's unlikely in my view. Your objective might be not to argue the $2600, but to buy it back for much less than $1000, which will get you to the same place as raising the price but still having to pay too much to retain ownership. Patiently insist that you'll take the $2600 but will only do so if they'll sell it back for $100-$150. Point out that they really don't want to go to the expense of picking the bike up, paying towing and storage and then only getting maybe $400 at an auction. They should listen to that logic. (BTW, they probably won't offer collision insurance on it anymore after totalling it and letting you keep it......)

4. Your local dealer will probably give you a proper body shop estimate that will be well above the $1600 they're offering---again, use that to underscore the proper valuation necessary.

5. Time works in your favor--there's no hurry on your end, but they'll want to get it all settled, so be patient and do the homework when it suits you.

6. You didn't mention your injuries, but a good approach is to definitely not let them off of the hook regarding that part of the claim. In fact, it's best to wait at least a year before releasing them from any possible liability on injuries. They'll be pushing for that, and there's no reason on your part to be in a hurry about it...very hard to tell what latent damage may be there.

Good luck!

[98lee]

Get an itemized repair estimate from a dealer to see what the worst case price to fix your bike is.

If it is under $3000, you should be able to get your insurance company to foot the whole bill WITHOUT totaling the bike. Your bike is worth more than that. Use the estimate as a negotiating tool. Be firm. Don't just take what they offer at first.

You should be able to fix the bike for ALOT less than what the dealer quotes if you know how to use ebay and basic hand tools.

Good Luck.


:dance :dance :dance

[qwerty725]

WNDSRFR - You're right about USAA. We have all our car insurance and home insurance through them. They're about as good as insurance companies get.

As for my injuries, they won't be off the hook there. I spent five days in intensive care and ended up with a titanium plate in my head! That should cost a couple of bucks.

98LEE - Basic hand tools is right. Other than having to repaint the fiberglass radiator shroud the rest is simply unbolt - remove - replace. Repairs don't get much easier than this. But still, I have to get the right amount of money out of the insurance company. They tell me I will be able to see their repair estimate on Monday. It'll be interesting to see what they came up with.

I'll post updates to the negotiations as they happen.

Thanks.

[98lee]

An insurance company adjusters estimate on motorcycle repairs are almost always a WAG lowball compared to what it actually costs because they have no info on each individual make and model. Get an estimate yourself from a BMW dealer and use that to negotiate between the insurance company's lowball estimate and the dealers high estimate and don't let them talk you into a salvage title.

Don't be rushed into accepting a bad settlement.


:dance :dance :dance

[qwerty725]

Lee,

I will be calling a couple of BMW dealers on Monday (or probably Tuesday as I think they are all closed on Mondays).

I enjoy a good negotiation. It should be fun. And since I have been told I can't ride for at least another year it gives me plenty of time to get what I want!

Let the games begin.............

[osbornk]

I was an insurance adjuster for over 31 years and the stuff the adjuster told you is hogwash. You are owed the actual cash value of the bike as it was just before the accident. Whether another just like yours is available right now has no bearing on the value unless there is one just like yours available for sale. The NADA is simply a guide. The motorcycle guide is a national guide (the cars are regional) and different brands of bikes have values that vary considerably in different parts of the country.

As suggested, I would try to find other bikes similar to yours (with the age of the bike, a year or two difference makes little difference in valaue-it's the condition). I would also get a sworn statement from the BMW dealer (prefereable one who know the bike or has seen it). If the adjuster rejects your information, ask to talk to his manager. If that is not successful, ask for his manager. If you run into a brick wall, call the insurance commissioner's office and register a complaint. Regarding the value of the wrecked bike, a bike of that age and brand, it has very little salvage value. The disposal cost will probably cost as much as they will get for it.

The typical insurance employee (adjuster or manager) knows next to nothing about motorcycles and most of the current crop of adjusters don't know much about vehicles in general. Most people are lazy and if you provide the adjuster with documentation so he can justify the payment to you, you might get the money you need for your bike.

Ken