It's official...she's totaled - Ducati.ms

Swodi · Aug 20th, 2009, 5:22 pm

I got the call from my insurance company today and was informed that the Hyper is totaled.

When I brought it in, the dealer asked if they could buy it back from me, so I said I'd think about it. The salvage quote the insurance company gave me was $3588. Any suggestions? Should I just give up the bike, buy it back and part it out? Buy it back and sell to dealer? I'm just not sure how the finances will work. I owned the bike for 4 months, so I'm upside down by about $3k.

By the way, if you want a woodcraft clutch cover that's undamaged or a T-rex stand, drop me a pm.

johnchypermotard · Aug 20th, 2009, 5:43 pm

not enough data to make a suggestion.

how extensive is the damage ... i.e.: what parts are still fresh/undamaged?

what $ amount is dealership offering to buy the salvage title from you?

what $ amount is the insurance company going to payout to you?

what is the delta $ amount between what you still owe, vs. payout?

SilverCBR · Aug 20th, 2009, 9:51 pm

Tell the insurance company to fix it then! When I totaled my 2001 F4i with only 682 miles on the clock and 4 months old, they asked the dealership I bought the bike from how much to replace the bike, and they paid me that much for my bike. Since the bike was basically new they gave me $8000 and $700 for the full Leo system I had on it. Sounds like they are trying to screw you.

Tell them to replace it or fix it! Not giving you enough to pay off the bike defeats the purpose of insurance especially on a new bike. Most insurance companies has smartened up and now will only sell the bike back to the original owner after auto recyclers have had the chance to bid on the bike. They will then sell it back to you for the top bid. The chances of making any money off the bike by reselling it as a builder are limited then. This is just the experience I have had in the past.

pat1098 · Aug 20th, 2009, 10:51 pm

Quote:

Originally Posted by Swodi

I got the call from my insurance company today and was informed that the Hyper is totaled.

When I brought it in, the dealer asked if they could buy it back from me, so I said I'd think about it. The salvage quote the insurance company gave me was $3588. Any suggestions? Should I just give up the bike, buy it back and part it out? Buy it back and sell to dealer? I'm just not sure how the finances will work. I owned the bike for 4 months, so I'm upside down by about $3k.

By the way, if you want a woodcraft clutch cover that's undamaged or a T-rex stand, drop me a pm.

Sorry to hear of Hyper's fate - as suggested, crunch the numbers after VERY CAREFUL assessment of damage. All insurance companies are not created equal, obviously, and I have learned to be suspicious! Some ins. cos. over here offer to replace with a new bike if written off in first 12 months - worth seeking that for next policy? The mob that offer that over here specialise in enthusiast motor insurance, and have very competitive rates. Good luck!

**Da_Bull** · Aug 21st, 2009, 12:51 am

The insurance company should cover the bike for value purchased, less a percentage for depreciation; they shouldn't cover total value owed because it's not the insurance company's job to cover your interest on the loan. The interest is on you.

Enigma · Aug 21st, 2009, 7:46 am

sounds like you have State Farm, when I totalled my Hyper they wanted to fight me tooth and nail on it. I called before I got my 1098 because I wanted to make sure they could insure me full coverage.

They told me they could and 2 months later sent me a letter stating that they could no long provide full coverage to any of my vehicles. Keep in mind im 24 never had any kind of accident that was my fault or points on license or insurance.

acesanugal · Aug 21st, 2009, 7:52 am

Maybe they saw your avitar!

Caidly · Aug 21st, 2009, 8:16 am

PM me and I'll give you my cell to discuss.

Had a similar thing happen with my Hyper S this year.

Bottom line for me was that I now own a near perfect Hyper with a total investment of about $5k.

Hypremotard · Aug 22nd, 2009, 9:09 am

Quote:

Originally Posted by CTarna

PM me and I'll give you my cell to discuss.

Had a similar thing happen with my Hyper S this year.

Bottom line for me was that I now own a near perfect Hyper with a total investment of about $5k.

Near perfect because they couldn't replace the part between the handlebars/seat and the helmut!!!

Just kidding of course!

Good luck with the insurance company. I hope it works out well for you.

Swodi · Aug 22nd, 2009, 3:10 pm

Well, I've called the dealer twice about it and each time they said they'll call me back, and of course they haven't. I'm not willing to take the risk of being stuck with buying the bike and hopefully selling it to them. I'm going to tell the insurance company to come pick it up on Tuesday.