How long will insurance take to pay for my bike?

K

krrakt

Well-known member
Hi,

I got into an accident on Friday and I'm pretty sure that my bike is a write off.

How do they determine the value of your bike?

I'm just wondering approx. how long it will take them to give me a cheque for my bike, helmet and torn clothing etc.

I want to buy another bike and will just use my credit card if I can repay it within a month or two.

Thanks.
 
This is a question that will be best answered by your insurance agent.

The people of this board will simply chime in on their experiences which I am sure will vary from "very quickly" to "extremely slowly". Every company is different.
 
Hey,
That's what I was wondering, others experiences.
Thanks
 
OAP 1: Ontario Automobile Policy (legal wordings that covers motorcycles as well)
Section 1.6.1 payment of claims, "We will pay legitimate claims within 60 days of receiving a proof of loss. Some claims for Accident Benefits will be paid sooner."

But most claims for the vehicle are paid well before that as insurance companies do not want to pay excess storage fees. They have up to 60 days to allow them time for any investigation that may be needed.
 
Cool, thanks.
 
Keep reading the Insurance section of this forum. Many people chimed in before saying their insurance companies have low-balled them on the first offer. You don't have to accept their first offer on the write-off bike. Search kijiji for same bike with similar mileage. Print out / save those ads and be prepared to counter the insurance company's offer with a more appropriate value of the bike.
 
ViperZ said:
Keep reading the Insurance section of this forum. Many people chimed in before saying their insurance companies have low-balled them on the first offer. You don't have to accept their first offer on the write-off bike. Search kijiji for same bike with similar mileage. Print out / save those ads and be prepared to counter the insurance company's offer with a more appropriate value of the bike.
Click to expand...

Close to a month is how long state farm took to sort my wreck out after I hit a deer.
 
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