Insurance offers you too little after an accident? problem solved.

[Ninja10]

Fight until you get on top. I hate insurance companies especially since they offer you coverage but when it comes to the point you need it...they cheap out on you. Do whatever it takes to get as much as possible from them, because in their eyes they want to give you as little as possible.

 

[RockerGuy]

so you are suppose to take a loss rather than be made whole again. this is a horrible perspective on insurance.
pay you what is fair is a loose word and can be used to the the insurance companies advantage.

what's fair to them may not be fair to you.

Amen brother, couldn't say it better myself

 

[zeniceguy]

U can normally argue 3 times before they ask for an apraisel

 

[BusaBob]

I had a fight with Primmum to get what I did from them for the Busa's repairs when it was knocked over while parked on the road.

They were really rude and dismissive. Eventually ignoring my calls for 6 weeks. I had to deal with so much BS from their end.
It took months, but we finally agreed on a settlement. Took a lot of complaints, and a call to the Insurance Ombudsperson.

Glad I didn't bother getting an appraisal, myself. Apparently, they can just counter with their own appraiser and you're back at square one.

 

[jeffjones]

Glad I didn't bother getting an appraisal, myself. Apparently, they can just counter with their own appraiser and you're back at square one.

How can they counter an appraised bike in mint condition with their own appraiser on a damaged bike?

 

[BusaBob]

How can they counter an appraised bike in mint condition with their own appraiser on a damaged bike?

I was told that I was free to counter their proposal by having an appraisal done. But, they said they weren't bound by that appraisers findings. They said that they would also get the bike appraised through their own appraiser if they didn't agree with my appraisers.

My reply: then we're back at square one. what happens then?
Their reply: your welcome to take it to arbitration, but a hearing may take months.

 

[Robert_Smalls08]

Insurance is supposed to pay out replacement cost. If his was mint, then they would have to pay the lower value they showed PLUS the cost to bring up to mint.
Think of it like a collectible. You have a mint condition (say Gordie Howe rookie) and it is insured for fire at about $15,000, graded, appraised, etc., and you have it in a bank vault somewhere. Bank burns down, card is toast. Insurer says they found a rookie card on ebay for $2000. It's not graded or anything, one corner is peeled sortof, might be a crease too. But hey, it's a Gordie Howe rookie right? They only have to $2000 or they have to pay the appraised value. I think that makes it pretty obvious.
In this case a mint 96 SRAD is a lot harder to replace than an operable (assuming some DB hasn't got ahold of it) 06 gixxxxaaa!! (TM).
In the case of vintage vehicles that are in top notch condition (and vintage happens a lot earlier in life to motorcycles than cars), you might be advised to get your $95 appraisal every year, before crashing it. At that age there's a big difference between "mint" and "runs".

Motorcycle insurance does not pay out replacement cost, it pays out the actual cash value. The only way your insurance will pay out replacement value on a bike is if you purchase the motorcycle brand new, and include OPCF 43 on your policy. Unlike home insurance, where most policies pay out replacement cost on contents.

 

[Invincible]

Motorcycle insurance does not pay out replacement cost, it pays out the actual cash value. The only way your insurance will pay out replacement value on a bike is if you purchase the motorcycle brand new, and include OPCF 43 on your policy. Unlike home insurance, where most policies pay out replacement cost on contents.

they will weasle out of paying replacement valve on a new bike as well.

 

[lennay1031]

I'm going through the same thing with SF and their "Mitchell Report"
They only looked at 2 comparables and cherry-picked a bike from New Brunswick to lower the average value by nearly $2000.

Update to my situation: discrepancy has been resolved.

If you're able to provide receipts for value of work done on your bike or an ad for a similar bike on autotrader it greatly helps your case. I did that and SF claims could really go with my own appraisal work based on fact vs their appraiser, who used selective reporting.

The takeaway - Always review and confirm the work of others. Don't assume what they do is for your benefit.