Insurance claim is in motion

[STEALTH52]

Right spoke to my insurance company this morning & asked to make a claim on my bike, leathers & Lid, so they have taken my details on what happened etc, said they would contact me in the next 48 hours for more details.

40 mins later they rang me again & got all of the details that they needed & told me that an assessor will contact me in the next few days to come & have a look at the bike & that they advise me to get a quote myself for the repairs so that it can be handed to the assessor upon his visit as this can speed up the process quite a bit...so went down to john pease to see a mate about it, who then collected the bike for me to do a quote.

So the bike is know at John Pease awaiting a quote & visit from the assessor...

The Bike has been left there on the understanding that under no circumstances the bike is to be taken away by anyone apart from myself until i have agreed a price on payout or i give my permission...

First impressions are that it can be repaired, but ideally i would like it to be written off & then buy the salvage on it for a track bike....:grin2

will wait & see what happens now & update this as i go...

fingers crossed...But at least the balls in motion now...

[SDM]

If it is to be repaired using genunie Suzuki parts.............it will be a write off

[NinjaMad]

Well pleased that its on its way to getting repaired or replaced, and 40mins later thats good going indeed... Fingers crossed for you, when i crash my car ages ago i had it sort in 6 weeks, so dont no if that helps at all

[STEALTH52]

If it is to be repaired using genunie Suzuki parts.............it will be a write off

Yep will be genuine Kev, he's checked it over this morning & first impressions are 50/50....

Think i'd be better off if they do write it off though...make a nice track bike that will & have all the track fairings already;)

[CBR-Dave]

thats quick, hopefully the assesor comes and sorts it soon so you can get back on the roads

[STEALTH52]

thats quick, hopefully the assesor comes and sorts it soon so you can get back on the roads

Not too fussed about the roads at the min, wanna get out on track more....depending on what the insurance does will be the decider on me sticking to track days once a month or doing both....will decide soon....

[SteadyEddie]

Good news things are happening
Once my life gets back on track I hope to get on track!!!! once a month

[Fenix]

Wow! Things do seem to moving quickly :grin2

[STEALTH52]

Estimate is in....& i managed to do Approx £2500 worth of damage....not including labour costs :eek:

At the moment it's a 50/50 chance on repair or write off....

The Assessor is coming tomorrow to make a decision so should know which it is tomorrow evening....Hopefully...

(Keeping fingers Crossed)

Just need my bike back....or cash to buy a bike....

[CBR-Dave]

good luck fella

[rightchoiceinsurance]

Would be pretty sure in my experience mate that they will write it of as the estimate wont be exact and will depend on anything else discovered when they strip it down and they wont want to take the chance as it would already be close to be declared uneconomical to repair

[STEALTH52]

Would be pretty sure in my experience mate that they will write it of as the estimate wont be exact and will depend on anything else discovered when they strip it down and they wont want to take the chance as it would already be close to be declared uneconomical to repair

Deep fookin Joy! the bit that annoys me most is that it's sitting there with no fairings etc, frame is mint, engine, rear end, bars, tank etc etc etc the only damage is too fairings, front wheel, radiator & light & dash etc....all starts up & runs fine!

Really dont want to see my bike go down the pan, as wont be able to afford to but a bike of the same year again, i doubt it anyway
I will try & buy it back but not going anymore than £1200 for it... hopefully i get the option...

Just praying that it doesn't get written off....

[Linkpipe]

[quote=STEALTH52;154173]Estimate is in....& i managed to do Approx £2500 worth of damage....not including labour costs :eek:

is that £2500 inc Vat or plus Vat?

[2E]

Deep fookin Joy! the bit that annoys me most is that it's sitting there with no fairings etc, frame is mint, engine, rear end, bars, tank etc etc etc the only damage is too fairings, front wheel, radiator & light & dash etc....all starts up & runs fine!

Really dont want to see my bike go down the pan, as wont be able to afford to but a bike of the same year again, i doubt it anyway
I will try & buy it back but not going anymore than £1200 for it... hopefully i get the option...

Just praying that it doesn't get written off....


if they do write it off... and you ask for it back do not mention the words 'can i buy it back' or 'how much will it cost for me to take it back':grin2

Simply say 'can i have the bike back?'

I did this and even though they had shelled out the full (argued) value for my bike, they gave it back to me for nothing, i then sold the bike on for £100:grin2

Not sure how it works exactly as obviously my accident wasnt my fault.. but im sure its the same kinda thing.. try it and see if it works..

Worth a try eh?:grin2

[STEALTH52]

[quote=STEALTH52;154173]Estimate is in....& i managed to do Approx £2500 worth of damage....not including labour costs :eek:

is that £2500 inc Vat or plus Vat?

£2500 plus vat...

[STEALTH52]

if they do write it off... and you ask for it back do not mention the words 'can i buy it back' or 'how much will it cost for me to take it back':grin2

Simply say 'can i have the bike back?'

I did this and even though they had shelled out the full (argued) value for my bike, they gave it back to me for nothing, i then sold the bike on for £100:grin2

Not sure how it works exactly as obviously my accident wasnt my fault.. but im sure its the same kinda thing.. try it and see if it works..

Worth a try eh?:grin2

Oh I'll be trying the sneaky approach alright...

[v8-powered]

Doubt you would get it back for £1200. Mate of mine paid £2500 to get his 2004 Ducati 998S back after binning it last year....

[Dal]

I doubt whether the VAT aspect has any bearing as I'm sure they can claim that back. It's the labour aspect that will be the deciding factor did they give any indication to how many hours they thought?

Also £1200.00 is to cheap I doubt you will get it back for that.

Work out what a Cat D is woth retail and work backwards.

The links below are for various damage CAT D bikes

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200819309413940&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200741296553265&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200719283877644&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Private sale straight bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200820309756357&distance=355&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Trade Sale Straight Bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200818309079146&distance=185&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

So if a low mileage bike retails at £5000.00 (This confirms your is a write off by the way)

And you could rebuild it for say £1000.00 with used parts / repaired your down to £4000.00 but would need a profit so take another £1000.00 off

I recon you will need to find between £2500 - £3000 to buy that off the insurance company.

If they pay you out £5000.00 (Replacement value if they offer you market value to them to pi55 off)

You have a choice forget the old one and look for a replacement or pay say 2500.00 repair it keep it as your road bike and loads of trick stuff for it with track fairings or if you wanna be really sensible buy it back put it the road and pay off the remainder of the loan with the difference :grin2

[STEALTH52]

The assessor came to have a look at my bike today at my local Suzuki dealer to inspect the damage etc, Apparently according to the chap at the dealership he said that he wants to go over his figures & see if he can get it repaired, he will let the dealership know tomorrow what the outcome is...

The weird bit is this, then i was told without asking, "if it's written off there is no possible way that i can keep/but back my back as the insurance company just dont do it"

Ok i thought fair enough if thats the way it is, then not a lot i can do.

Next i was told (Again without asking) By the way the assessor has noted down your Gilles rearsets, pazzo levers, powerbronze hugger, braided lines, & put them all into the total price that the bike is worth & it comes to a smidge over £6k...so being that he's done this, if it is written off you cant come down & remove those items, they will have to stay on the bike....

My response to that was "No they are extras that i have fitted & they are mine", he then said that i will get them replaced if the bike is repaired with the same items, I said "err no i wont because when i notified the insurance of them i was told that any aftermarket parts would be replaced with OE parts in the event of a claim"..

But he is sure that is what will happen & that i cant take them off if the bike gets taken away as the insurance company will get funny & could cause me problems...

Is it me or does something sound not right??? I should know tomorrow afternoon if it's getting repaired or being written off once the assessor has made a decision, but this business with the aftermarket parts & not being able to keep/buy back the bike bugs me....

Is this normal???

Cheers

[stusgsx]

im not sure about that side of it mate, i stripped mine the mornin after i killed mine so no1 got the chance to see..........not that i had any.....................

[v8-powered]

What is on it is yours until the claim is agreed but the dealers will try to get all the bling bits off of it.

Exactly the same thing happened with my mates 998S, hence he reclaimed it from the dealers before they could start stripping it. Even though he had got to it early, several good bits had been swapped out for damaged bits but he could not prove it.....

[MSmilleR]

I think the way they look at it is if you get payed out the bike is theres, and they will prob get more for it as salvage then due to deals they have with places etc its all fooking politics mate sounds to me like there gonna repair it, dunno where you stand with the uprated parts etc tho err good luck:grin2

[STEALTH52]

I doubt whether the VAT aspect has any bearing as I'm sure they can claim that back. It's the labour aspect that will be the deciding factor did they give any indication to how many hours they thought?

Also £1200.00 is to cheap I doubt you will get it back for that.

Work out what a Cat D is woth retail and work backwards.

The links below are for various damage CAT D bikes

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200819309413940&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200741296553265&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200719283877644&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Private sale straight bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200820309756357&distance=355&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Trade Sale Straight Bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200818309079146&distance=185&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

So if a low mileage bike retails at £5000.00 (This confirms your is a write off by the way)

And you could rebuild it for say £1000.00 with used parts / repaired your down to £4000.00 but would need a profit so take another £1000.00 off

I recon you will need to find between £2500 - £3000 to buy that off the insurance company.

If they pay you out £5000.00 (Replacement value if they offer you market value to them to pi55 off)

You have a choice forget the old one and look for a replacement or pay say 2500.00 repair it keep it as your road bike and loads of trick stuff for it with track fairings or if you wanna be really sensible buy it back put it the road and pay off the remainder of the loan with the difference :grin2


Cheers Dal, that makes sense to me...think i'll just get a new un...

[STEALTH52]

What is on it is yours until the claim is agreed but the dealers will try to get all the bling bits off of it.

Exactly the same thing happened with my mates 998S, hence he reclaimed it from the dealers before they could start stripping it. Even though he had got to it early, several good bits had been swapped out for damaged bits but he could not prove it.....

Im going to speak to the assessor tomorrow & then strip after market parts off & replace with standard...will check with insurance first though....

[rightchoiceinsurance]

Stealth give me a buzz at work tomorrow and I will talk you through the best way to deal with everything

[STEALTH52]

Stealth give me a buzz at work tomorrow and I will talk you through the best way to deal with everything

Ok fella, will do that if thats ok....need a bit of help here i think, i know one thing though, they arent taking my aftermarket parts...

Pm me your contact details mate.

Cheers
Jon.

[Linkpipe]

I doubt whether the VAT aspect has any bearing as I'm sure they can claim that back. It's the labour aspect that will be the deciding factor did they give any indication to how many hours they thought?

An insurance company can't be VAT registered (if you personally are vat reg then you have to pay the vat content for the insurance company as you can claim it back on your vat return).
With bikes it is the cost of parts that kill em, to repair stealths a repairer prob (lookin at the pics) will want a days labour, aprox £320 + VAT pennies compaired to the aprox £2500 + vat parts bill

Also £1200.00 is to cheap I doubt you will get it back for that.

Work out what a Cat D is woth retail and work backwards.

The links below are for various damage CAT D bikes

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200819309413940&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200741296553265&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200719283877644&distance=165&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Private sale straight bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200820309756357&distance=355&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

Trade Sale Straight Bike

http://search.autotrader.co.uk/es-uk/www/bikes/SUZUKI+GSXR/Ne-2-4-7-8-27-64-104-133-146-236,N-121-4294967231-4294967252/advert.action?R=200818309079146&distance=185&postcode=ss8+9ag&channel=BIKES&make=SUZUKI&model=GSXR&min_pr=&max_pr=&max_mileage=

So if a low mileage bike retails at £5000.00 (This confirms your is a write off by the way)

And you could rebuild it for say £1000.00 with used parts / repaired your down to £4000.00 but would need a profit so take another £1000.00 off

I recon you will need to find between £2500 - £3000 to buy that off the insurance company.

The salvage cost and if they will let you retain it or not depends on their salvage contract.
An insurance company with a salvage contract in place will prob be guaranteed around 30% of the market value (for example £5000 market value means the salvage is £1500) so this sometimes plus a few % is the amount they would usually expect from you to retain (otherwise they are loosing out letting you keep it).
If they have no salvage contract they will be a bit more flexible.
Either way if you do retain the salvage check that you will not be stuck with the recovery, storage and estimate charge as it has gone to a dealer as that can add up.



If they pay you out £5000.00 (Replacement value if they offer you market value to them to pi55 off)

This depends on your policy if you read you terms and conditions it will tell you if you have agreed or market value (market value is replacement value as it means what your bike would fetch if it were to be put on the market)
Most companies will start at book value but you can decline any offer and send proof that your bike is worth more ,grab adverts from dealers cos as they give warranties they will be higher and that should help your case.

Whatever happens hope it works out for you fella.

[STEALTH52]

Cheers Linkpipe some good info there thanks...

[STEALTH52]

Right spoke to assessor this morning & the bike has been deemed a total loss & they will be notifying my insurance company any minute now.

i rang the insurance company & asked if i could remove my Gilles, pazzo's. hugger etc & replace with stock & was told that it's fine as long as i replace with the original parts.

So i went down the dealers & i now have them all sitting in a box, Gilles, Pazzo's, R&G gear fork protectors, swingarm bobbins, bar ends, Evotech tail tidy & Hugger...

Asked about collecting the bike & was told that it's not a problem but they need to be paid the storage costs by the insurance company before i can take it away.

So i have left the bike with the dealer & he has agreed that he will not let anyone collect the bike apart from myself or until i have given my permission.

Also my insurance company have said that i should be able keep the bike as part of the settlement & they are going to look into that for me today/Monday....so just got to wait and see what offers they make me now over the next week or so hopefully...

Hopefully if i can get the bike as part of the settlement i shall do that, & either keep as a track bike or sell it on privately & buy a new road bike....or put back on road with Race fairings & a custom paint job & run on daytime MOT..

All depends on what the insurance offers me now....But got my bike bling back so thats the main thing...


So things seem to be progressing at last...(Touch wood)

P.S if anyone has any insurance questions PM Rightchoiceinsurance (Mike) off of here, he knows what he's talking about & is very helpful..

[Murray]

All seems to be moving along quite nicely mate, quicker than my insurance when i wrote off my R6. Hope you get it all sorted, at least they've offered you the bike back....thats a start. With prices you can always argue and you've got the bonus of them looking at dealer values not private vales as its less than 3 years old. I managed to get a few more pennies out of them when they valued my bike so just look around at some ripped off dealers for proof of value, I believe its an independent company that values it anyway so they usually pretty fair.

[STEALTH52]

All seems to be moving along quite nicely mate, quicker than my insurance when i wrote off my R6. Hope you get it all sorted, at least they've offered you the bike back....thats a start. With prices you can always argue and you've got the bonus of them looking at dealer values not private vales as its less than 3 years old. I managed to get a few more pennies out of them when they valued my bike so just look around at some ripped off dealers for proof of value, I believe its an independent company that values it anyway so they usually pretty fair.

Yep exactly mate, Trade in price to a dealer on mine is £4k to sell at £5-5.5k so hopefully will be ok....just got to sit tight now & wait for the offers....

As long as im no worse off at the end of it & have a bike im a happy man....

[Murray]

Yep exactly mate, Trade in price to a dealer on mine is £4k to sell at £5-5.5k so hopefully will be ok....just got to sit tight now & wait for the offers....

As long as im no worse off at the end of it & have a bike im a happy man....

That much hey, I may sell my K7 and make a profit....woohoo!

[CBR-Dave]

great to hear things are moving along quickly, you might get it all sorted before the summer gets here at this rate

[STEALTH52]

Claim form turned up today asking for diagram of accident, speeds, road names, witnesses etc etc etc...

All filled in & sending off tomorrow first class recorded delivery so hopefully things are going to start happening soon...

[the captain]

yeah i thought that when i had the issues with the gixer!!

[STEALTH52]

yeah i thought that when i had the issues with the gixer!!

& then what happened!?

[the captain]

about 8-9 months later after a tone of arguing and threats of going to court i got a payout!!!

[STEALTH52]

What happened to the Gixer then???

[the captain]

Someone decided they wanted to be in the outside lane of the A12 and didnt think it mattered that i was in the way!!

Looking back now i m kinda glad, as it gave me the opportunity to get the R1, but i do miss the paint job!!

[STEALTH52]

Someone decided they wanted to be in the outside lane of the A12 and didnt think it mattered that i was in the way!!

Looking back now i m kinda glad, as it gave me the opportunity to get the R1, but i do miss the paint job!!

**** man, not good...Well im claiming on my insurance so hopefully it wont be as long as that! If it is thats my biking fooked for the year!

[the captain]

Ah if youre doing it on your own insurance it'll be sorted in no time!

[STEALTH52]

Ah if youre doing it on your own insurance it'll be sorted in no time!

Hopefully!

[CBR-Dave]

sounds like its moving quite quick for an insurance company, hope its all sorted soon bud

[STEALTH52]

sounds like its moving quite quick for an insurance company, hope its all sorted soon bud

So do i Dave, need to get out on a bike, im missing all the fun!

[STEALTH52]

Spoke to Insurance today & they have no received my claim/incident report form & it is being "actioned" at the moment, said they will contact me either tomorrow or tuesday...