Sorry about your bike, glad you're OK.
Munchie's Down - Totalled my Gen II - Old lady got me
- Thread starter Munchie
- Start date
InlineR
Registered
just went thru this with state farm they gave me the NADA value of 3334$ for my 2001 I was pissed I asked her to find me another busa for 3334$ lol..
I bought it back for 1400 so i got 1945 and change and replaced the plastic at the dealer for less than a grand... and NO SALVAGE title, something about since I bought it back they dont take possesion of the title
I bought it back for 1400 so i got 1945 and change and replaced the plastic at the dealer for less than a grand... and NO SALVAGE title, something about since I bought it back they dont take possesion of the title
Munchie
Registered
Sad to see mate but it's not the end of the world!
Buy it back, they make wicked fighters, though I hear hiding the loom is a challenge.
It'll be like a bking but kiiiiilos lighter, add drag bars = limitless fun
That's kinda what I was thinking....not the same as what I had, but better than sending her to the scapper.
Can I have your gas tank?
Dang racerV....cold as ice!
Hmmm...PM sent FTMFW
Munchie
Registered
Well, I little bit of an update...
I called to speak with an adjuster from my insurance company (Progressive) to get an idea how this might go down...and what kind of options I may have.
According to the Progressive adjuster, he said they try to "set the pace" as far as being on top of their game in dealing with motorcycles. He told me he could give me a buyback number if I gave him a sec...
While he's punching keys, he initially said "whew!...probably gonna be a lot!...those Hayabusa's have a pretty high salvage value" "After punching keys for a bit, he came back with the following:
They base their numbers on actual returns/sales figures they obtain from "salvagers". He said the average Hayabusa they see in this situation (as a "total loss") is a 2003 model year, with an average value around $8,000. He said a sale to the salvage yard generally returns 31% of this value for a round-about buyback value of ~$2480.
He said that would be a first round number he would throw out if the situation were reversed. He also said there is a slight amount of room for negotiation...although it basically depended on the individual adjuster if they wanted to play or not...and that the numbers may change depending on how far "your" bike is from the average they're using.
I asked if claiming all the extras helped you by driving up the overall value of the bike...so that you are properly compensated for the loss, or if it hurt you when trying to do a buyback since the increase in value may drive up the return percentage from the salvage yard. He pretty much said it was a wash...??? not really sure how that can be, but he said if the things that made the bike more valuable took damage, they can't really be counted as being worth anything extra. (I'm kinda extrapolating here)...for instance, my pipe is scratched, but only slightly. Would I pay to relace it...no. Does it raise the "perceived" value of the bike, even in it's scratched condition? Yes...I'm sure I could sell the exhaust for some portion of what I paid and put the stock pipes back on. My Corbin seat has a few scuffs, meaning they would have to replace it...but I would not, as it is only a little damage and still usable. Seems like anything you claim that you added to the bike would drive up the buyback cost, since the additions would still have some value over the stock hardware...and salvage yards could still sell your slightly damaged equipment depending on how your bike was totalled, and where the damage occured.
Anyways, just some info for those interested...I'll let yall know when I hear more.
I called to speak with an adjuster from my insurance company (Progressive) to get an idea how this might go down...and what kind of options I may have.
According to the Progressive adjuster, he said they try to "set the pace" as far as being on top of their game in dealing with motorcycles. He told me he could give me a buyback number if I gave him a sec...
While he's punching keys, he initially said "whew!...probably gonna be a lot!...those Hayabusa's have a pretty high salvage value" "After punching keys for a bit, he came back with the following:
They base their numbers on actual returns/sales figures they obtain from "salvagers". He said the average Hayabusa they see in this situation (as a "total loss") is a 2003 model year, with an average value around $8,000. He said a sale to the salvage yard generally returns 31% of this value for a round-about buyback value of ~$2480.
He said that would be a first round number he would throw out if the situation were reversed. He also said there is a slight amount of room for negotiation...although it basically depended on the individual adjuster if they wanted to play or not...and that the numbers may change depending on how far "your" bike is from the average they're using.
I asked if claiming all the extras helped you by driving up the overall value of the bike...so that you are properly compensated for the loss, or if it hurt you when trying to do a buyback since the increase in value may drive up the return percentage from the salvage yard. He pretty much said it was a wash...??? not really sure how that can be, but he said if the things that made the bike more valuable took damage, they can't really be counted as being worth anything extra. (I'm kinda extrapolating here)...for instance, my pipe is scratched, but only slightly. Would I pay to relace it...no. Does it raise the "perceived" value of the bike, even in it's scratched condition? Yes...I'm sure I could sell the exhaust for some portion of what I paid and put the stock pipes back on. My Corbin seat has a few scuffs, meaning they would have to replace it...but I would not, as it is only a little damage and still usable. Seems like anything you claim that you added to the bike would drive up the buyback cost, since the additions would still have some value over the stock hardware...and salvage yards could still sell your slightly damaged equipment depending on how your bike was totalled, and where the damage occured.
Anyways, just some info for those interested...I'll let yall know when I hear more.
Munchie
Registered
Well, another step further in the process.
The adjuster called today with a few questions about some of the specifics on the bike that I had listed or turned in receipts for. While she was looking up the info on my case, she said they did come up with an initial buyback value for the bike.
The intitial first round number was $1847...As is, without claiming any of the add-ons. Pending how they rule on the R-77 full carbon exhaust, Givi topcase, gold screens and Buell pegs. Thise items raise the value of the bike, and in-turn, raise the cost of the buyback. In general, she said the increased value of the items, costs roughly 20% to buy back...
So if the exhaust on my bike retails for $1,149.00 on the Yoshi website, it would cost me ~$230.00 to keep it...but they would give me ~$900.00 for it...? If I'm understanding correctly.
If all goes well, maybe FTMFW and I can work a deal and I may get to put her back together...
Nothing's set in stone yet and I've seen no written offers yet...but I'll keep ya posted.
The adjuster called today with a few questions about some of the specifics on the bike that I had listed or turned in receipts for. While she was looking up the info on my case, she said they did come up with an initial buyback value for the bike.
The intitial first round number was $1847...As is, without claiming any of the add-ons. Pending how they rule on the R-77 full carbon exhaust, Givi topcase, gold screens and Buell pegs. Thise items raise the value of the bike, and in-turn, raise the cost of the buyback. In general, she said the increased value of the items, costs roughly 20% to buy back...
So if the exhaust on my bike retails for $1,149.00 on the Yoshi website, it would cost me ~$230.00 to keep it...but they would give me ~$900.00 for it...? If I'm understanding correctly.
If all goes well, maybe FTMFW and I can work a deal and I may get to put her back together...
Nothing's set in stone yet and I've seen no written offers yet...but I'll keep ya posted.
Munchie
Registered
My thoughts exactly dude! I'm actually kinda exited about the idea of putting her back together again...
Thinking I may get on a parts collecting binge until the end of summer, and do an unveiling like Takeuon in the spring! If all the cards fall in place for such a comeback!
lease:If your mechanically inclined I'd say fix it. Keep an eye out on parts. If you just want to ride scrap it and get a new one/used one. You should get a letter from a 'expert' in regards to the gear. I WOULD NOT allow any insurance or other person to tell me that the gear can be fixed. I would NOT trust a patch job on leathers. For the price of the jacket & gloves it would cost more to have them fixed than it would be to buy new ones. Material + labor adds up fast!
Similar threads
