First accident | Page 4 | GTAMotorcycle.com

First accident

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PrivatePilot said:
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Once branded as Salvage in Ontario, there is no way whatsoever to ever return it to road legal status - the "Rebuilt" title doesn't exist for motorcycles in Ontario. ...
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Geesh I wish you had not said that because now I have to go and inform you the VIN on my 1986 BMW is RBT which stands for rebuilt, followed by a made up number that is based on my birth date. This year my insurance company tried that same line on me and guess what, I still have insurance and a plate on my rebuilt motorcycle.
 
Trials said:
Geesh I wish you had not said that because now I have to go and inform you the VIN on my 1986 BMW is RBT which stands for rebuilt, followed by a made up number that is based on my birth date. This year my insurance company tried that same line on me and guess what, I still have insurance and a plate on my rebuilt motorcycle.
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Ok. Things were possible in the past that are no longer possible. There is also always the possibility that Service Ontario (through either competence or incompetence) may get something to happen that should not be possible.
 
Actually it was the Ministry of Transport that provided me with the RBT VIN
and it was no mistake.
 
Trials said:
Actually it was the Ministry of Transport that provided me with the RBT VIN
and it was no mistake.
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When is my question. You used to be able to register home built vehicles too. That ship sailed a while ago but afaik ones that were already registered continue to be legal vehicles (similar to blue plated dirt bikes).
 
Not recent, but if I ever choose to sell the bike that will certainly be the VIN the next owner will have to register it with.

There is official policy and there is law but policy does not make something law, hence the exception to a policy can indeed exist.
 
Pssst.. Read the part specific to motorcycles.
 
Pssst, what's your point? I own a motorcycle that is branded Rebuilt, should I believe that can never happen? **it happens!
 
You’re ignoring other replies on the issue.

Go try it again.
 
What, you want me to go get rear ended and have my scrap frame and its original VIN resold by the !@#$%^ insurance company years later again? ... I think you know what my response to that would be.
 
You cannot get a rebuilt title for a MC registered today as far as I know. It was possible in the past.

You will find the occasional crashed bike reported stolen, then re-vinned. Not exactly sure how this happens, but it's common in Ontario for HD motorcycles.
 
Krime said:
Sometimes having a bike written off for insurance purposes is a good thing. When I was hit a few years ago the repair costs exceeded the value of the bike, so it was written off by the insurance company. I opted to buy the bike back from them from salvage (for $600), which they discounted off the cheque I received for the value of the bike. This allowed me to fix things at my own pace, and keep the bike on the road. To be able to do this, they needed confirmation from a shop that the bike was still deemed safe to ride, otherwise it would get a branded title on the ownership (with the ministry) which is irreversible and never allowed back on the street.

When the insurance company paid me after I bought the bike back from them, they told me to keep any and all receipts that relate to the damage I'd fixed on my own down the road. That way, if another accident/claim happened on the same bike, they would be able to pay back what was fixed... otherwise they would not be paying out any of the damage that was documented from the previous accident, which makes sense.
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Let’s say I told the company that I bought the bike for $1,000, but I actually bought it for $7,000, and the bike is actually worth $8,500 in the market. If they write it off, which price do I get?


Rev ON
 
Riceburner said:
Depends on the cost to fix. OEM plastics are expensive. Once the adjuster does his thing, and the storage fees etc. you may be stuck going thru with ins. They may write it off and allow you to buy it back with less payout. It would have been best not to make any claim and fix yourself...depending on the severity of the damage. Are you knowledgeable enough to know the forks aren't bent and other damage?
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The bike is still in very good condition. Here are the pictures. IMG_6277.JPGIMG_6278.JPGIMG_6279.JPGIMG_6280.JPGIMG_6283.JPGIMG_6282.JPG


Rev ON
 
runner001 said:
OP the price you paid and what it is insured for are 2 different things . I am with coop for years with all my vehicles ( car , truck , bike , buisness ect ) ) and had 2 total loss claims on both a truck and bike they go buy ACV ( actual cash value ) does NOT matter what you paid for it . ( here on east coast anyway ) but still cooperators out of ontario . When u got insurance they ask you right away what it is worth to you and thats the Max price they will pay you . They also Dont go by book value thats a pile of BS they start there ( just for a idea ) and then look at local average pricing for your year , make , model , kms , condition in auto trader, kijiji ect .. But will NOT exceed your insurance value you told them in the beginning I been with coop for years and they were always by far the best i ever dealt with and their prices are really reasonable No hassles whatsoever , quick painless claims , i couldn't believe it especially after all the BS and stuff you here online about Book value , waiting times and lots more . Yes if you go through a claim process on your bike expect to be down for at least 3 weeks before you even get a check if it is a Total Loss , if its a repair job then you will be down longer maybe a month or so easy but thats to be expected . And it does NOT take much to write off a bike trust me been there done that all it takes is a few broken plastics and a centimeter scratch through the paint on your main frame and shes a TOTAL LOSS lol . coop needed a police report from me the next day . Its funny they didnt request one the moment you called them which you can just go in anytime and get one . Also Since you lowsided if your helmet hit the ground they have to replace it or any gear that you were wearing that got damaged due to safety .
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Brother I bought the bike for $7000, but can’t remember what I told them, I think I told them a lower amount because I thought it had to match the numbers I give Service Ontario so I get a break on taxes.
That means I’m ******, like totally ******. The tank has a dent and scratch on it, the air intake came out, mirrors and one turn signal is broken, gear shifter is bent and a couple of foot pegs are off. I am so screwed now.
What happens if they write it off?? What are my options?


Rev ON
 
IbbadMurtaza said:
Let’s say I told the company that I bought the bike for $1,000, but I actually bought it for $7,000, and the bike is actually worth $8,500 in the market. If they write it off, which price do I get?


Rev ON
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lol...why on earth would you do that.
 
IbbadMurtaza said:
Brother I bought the bike for $7000, but can’t remember what I told them, I think I told them a lower amount because I thought it had to match the numbers I give Service Ontario so I get a break on taxes.
That means I’m ******, like totally ******. The tank has a dent and scratch on it, the air intake came out, mirrors and one turn signal is broken, gear shifter is bent and a couple of foot pegs are off. I am so screwed now.
What happens if they write it off?? What are my options?


Rev ON
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Potentially they can offer you to buy it back and fix it yourself.

Or you'll take the cheque and move on.

I would suggest you have a serious discussion TODAY with your contact about cancelling your claim and paying out of pocket to fix it yourself.
 
The cleanest way out is to take the cash payout and let the insurer sort out the parts. You go forward with a limited amount of coin in your hand to financially support a new bike and the required insurance. It won't be easy.

What you paid and what it's worth are two different things. Some private sellers aren't into dealing and just want rid of something so sell really cheap. Insurance is supposed to restore your situation so market value is the key. However market value on bikes is vague. List prices on the internet are all over the place but if you screen them by going "dealer only" the numbers will be more credible. You can negotiate the payout to a degree.

I assume you still have the ownership in your hand and it doesn't have "SCRAPPED" stamped on it. Theoretically you could reclaim the bike from the storage yard, fix it yourself and ride or sell it. Did the bent shifter cause any internal tranny damage? What will you have to pay for a tank, one of the most often damaged bits on a bike? The tow / storage charges are adding up fast. Who pays them? If you pay them your nose will bleed and if the insurer pays them the charges will have to be recorded as part of a claim.

If I was in the situation and younger I would be inclined to bail on street riding and do track. No insurance, no left turners, no traffic lights and if there's an idiot in the crowd at least he's going in the same direction.
 
IbbadMurtaza said:
Let’s say I told the company that I bought the bike for $1,000, but I actually bought it for $7,000, and the bike is actually worth $8,500 in the market. If they write it off, which price do I get?


Rev ON
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You get what the ACV would be which will be what that year make model kms etc sells for . I dont care what anyone says i dealt with it few times with Coop .basically If you got a smoken deal on a Vehicle from a close friend that sells for say 5k on line average and he said hey just give me 500 and its yours , well no mater what if something happens to that vehicle then they have to replace that vehicle to same specs or better no matter if you paid 1 doller vs 20k if that vehicle average selling price is 5k on auto trader kijiji whatever than they have to get you in a simular vehicle which IS NOT gona be 500 dollers like what you paid only for fact was a best friend or whoever that give you that “ ONCE IN A LIFETIME DEAL “ . But from my experience i dealt with lots insurance companies had insurance for many many years and they always ask what i think the vehicle is worth if i sold it privately Or they will even use book value just to get a average selling price but in the end they will search for a list of same style vehicles and they get their average selling price for their offer which the first offer is always ALWAYS borderline low so NEVER EVER TAKE FIRST Offer .
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