Bike towed after crash, insurance still hasn't gone to see it

G

g532

New member
Over a week ago I was in a crash and my bike was towed and stored while I went to the hospital. My insurance (TD) said they would handle getting the bike from the storage lot (it's probably a write off, and I have collision insurance). They said that about a week ago and the adjuster still hasn't contacted me about it, so I'm getting worried.

Am I getting screwed by my insurance? Are they trying to run up the storage bill so that they can avoid paying out as much money to me for my bike? Should I get the bike out of the towing company's storage lot myself ASAP?
 
g532 said:
Over a week ago I was in a crash and my bike was towed and stored while I went to the hospital. My insurance (TD) said they would handle getting the bike from the storage lot (it's probably a write off, and I have collision insurance). They said that about a week ago and the adjuster still hasn't contacted me about it, so I'm getting worried.

Am I getting screwed by my insurance? Are they trying to run up the storage bill so that they can avoid paying out as much money to me for my bike? Should I get the bike out of the towing company's storage lot myself ASAP?
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Contact Insurance again to follow up stay on their *** about it... Either way if you are covered that should also cover the storage few especially if it's a wright off.... If I remember correctly it took them a couple weeks before going out to look at my bike..

Good Luck!
 
They actually called me not too long after making this thread, good timing.

Turns out I had nothing to worry about, thanks!
 
Keep in mind even if it was in the storage that will not be considered part of your collision coverage for them to reduce your payout
 
You wonder why ins. co.s have to keep raising rates. Their write-off payouts (when they do), plus the cost of storage and estimates by a shop end up much above the value of the bike.
 
This.. Plus everyone charges more when Insurance is involved. At one point I drove tow rig. What would normally be a $150 tow from an accident, (if owner was paying), suddenly the admin staff "bumped" the final costs to say $750 - $1000 for insurance, (simply because insurance never questioned it, just paid out.

I once had an ATV catch fire in my driveway. Asphalt needed to be replaced. Insurance got a quote from "their provider". It was $6500. I contracted a local company who said they could the work for much less, final bill to insurance was $2500.

OP yes the storage fees don't affect the payout, just be prepared for "sticker shock" make sure you hit up kijiji, (concentrate on dealer ads) ebay, and any other sites selling bikes, so you have a good idea of what a bike similiar to yours is worth. If it is say $5,000, (Average asking price), expect insurance to offer you 2500 - 3000. do NOT accept first lowball offer.

Riceburner said:
You wonder why ins. co.s have to keep raising rates. Their write-off payouts (when they do), plus the cost of storage and estimates by a shop end up much above the value of the bike.
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They tend to drag their feet a little so don't worry too much.... Keep in mind its a big deal for you but just another boring day for them...
 
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hedo2002 said:
This.. Plus everyone charges more when Insurance is involved. At one point I drove tow rig. What would normally be a $150 tow from an accident, (if owner was paying), suddenly the admin staff "bumped" the final costs to say $750 - $1000 for insurance, (simply because insurance never questioned it, just paid out.

I once had an ATV catch fire in my driveway. Asphalt needed to be replaced. Insurance got a quote from "their provider". It was $6500. I contracted a local company who said they could the work for much less, final bill to insurance was $2500.

OP yes the storage fees don't affect the payout, just be prepared for "sticker shock" make sure you hit up kijiji, (concentrate on dealer ads) ebay, and any other sites selling bikes, so you have a good idea of what a bike similiar to yours is worth. If it is say $5,000, (Average asking price), expect insurance to offer you 2500 - 3000. do NOT accept first lowball offer.
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Make sure the offer is plus HST. Not including HST. They are required to pay the tax value as well UNLESS you buy it back.
 
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