Can They Salvage an Already Salvaged Bike?

[RedSubmarine]

I had my poor little 748 backed into the other week. Luckily the perpetrator left a note and their insurance, Geico, is doing a great job of taking care of it. The title was already salvaged, but the fall put a crack through every fairing piece on the bike. Fairing stays and odometer also got cracked, kickstand is bent and the headlights are now crooked. That's going to be a pretty high repair estimate.

My question is, what happens when the estimate is worth more than a salvage vehicle is? Is there a level lower that it can be titled? Or will it just be salvaged again? This poor bike has had it pretty rough

[Wonway]

My guess is that repair receipts are going to play an issue here.

[rideserotta]

Hopefully, they'll fix it. Get estimates and be ready for a battle. They'll likely want to 'total' it but only give you fractional value because it was already salvaged.

[REVNH]

Originally Posted by rideserotta

Hopefully, they'll fix it. Get estimates and be ready for a battle. They'll likely want to 'total' it but only give you fractional value because it was already salvaged.

There's no battle needed, just an understanding of the reality that the fractional value IS the value. A salvage title bike is worth less than a clear title bike. Once the value of the parts and labor exceed the market value of a salvage titled 748, then they will pay the market value of a salvage title 748. That's what they owe, and that's what they should pay. As far as the title, every state is different, but I would think that once it gets a salvage title, another accident shouldn't change the title status, it will likely still be a simple salvage title.

Good luck with your settlement. If they tell you something that doesn't make sense, post it up and I'm sure you'll get some help.

[RedSubmarine]

Thanks for the help. That's essentially what I had understood. I just hope that if they do total it that they will give me a buyback price that suits an already salvage vehicle. I'd like to hang on to it, but I don't want to have to pay $2000 out of their $3000 suggested payout. I hope the buyback/payout ratio is similar to that of a vehicle that had a previously clear title.

[Dmitry]

I recently went through the insurance bullshit twice, first with Geico when some lady totaled my Odyssey and they at first were refusing to repair the suspension, estimate was $3400 just for bodywork. I had to prove to them that suspension was damaged, van was pulling to the side and wheel was loose! they claimed that if they can't see and photograph the damage it's not gonna be paid (WTF?!) Once they agreed that suspension is damaged they told me the van is totaled and value of the vehicle is $2800 (after they offered to pay $3400 to repair it) which is exactly 1/2 of current NADA.

3 month later I got them to pay $1000 below book value simply because they wore me down, then purchased the van back from them for $325 and fixed it myself. I had receipts for the recent repairs of my van totaling few thousand dollars and all it added was couple hundred to the payout...


The other one was couple month ago when some other lady ran a STOP and clipped my KTM, easy fall and $2500 estimate for the bike with $2200 book value, however it was another insurance company and they paid to repair it, probably never even looked up the book value.
The KTM was appraised by an outside appraiser, Geico was using their own guy and that's the difference.

Bike accident was another attempt by insurance company to screw with me, they wanted me to take 10% blame for it because I hit the rear door of the car, even though I was on main road and the woman ran a STOP, they still claimed it was partially my fault. I had several "heated" discussions and threatened to take them to small claims court where I don't need a lawyer, my exact words were "Even judges hate insurance companies, there is no chance I can loose!"

They paid 100% plus all my gear: helmet, jacket etc.

[1duckyboy]

Any time the value of a vehicle comes to question with an insurance company, get copies of ads for similar vehicles for sale in your area and show the insurance company. Values differ with locations.

[Chuckracer]

I can't see how you can have full coverage insurance on a salvage title bike. Liability sure, but comp/collision? Seems to me insurance has already paid out on this bike once...?

[RedSubmarine]

Yeah, I know how to deal with these guys. I was just wondering if there was a lower title status the bike might get, ie scrap or something.

[RedSubmarine]

Originally Posted by Chuckracer

I can't see how you can have full coverage insurance on a salvage title bike. Liability sure, but comp/collision? Seems to me insurance has already paid out on this bike once...?

It wasn't really a problem. I just had to give them my arm to do it.