Total bike write off | GTAMotorcycle.com

Total bike write off

Lash

Lash

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I t-boned a car that did a uturn in front of me two weeks ago. Old cb750 suffered front end damage and possibly bent frame. Car was deemed 100% at fault. Today insurance sent an email stating they want to write the bike off and provided a figure for that. There are still a lot of salvageable parts so I would like to buy it back but have never done that before so would appreciate any input on how to go about it. The bike is in my garage now. It was towed home on my CAA card so the insurance company has not had any costs for towing or storing while determining the case. I would like to put that out there because of this is probably a substantial amount of cash it would reduce the buyback value. Any thoughts?
 
Normally you get the full amount and lose the bike or they will tell you the high salvage price and you can keep the bike and the difference between the high salvage price and and original offer. You can negotiate on the offered price if you can find support for it. Recent restoration with lots of pics helps to support value as more than an abused runner.

I have never seen them consider tows or storage in their offer. Yes you saved them money but I doubt they will let any of that come your way.
 
When my van got written off, they originally only offered me $3000. I sent them a bunch of Autotrader ads showing an average of $4500 and they said OK. Then they said I have the option to buy the salvage for $1500 (I think). I was tempted, but it wasn't worth it since it had both front and rear damage from being sandwiched.
 
If the bike is "written off" doesn't that mean that it would be branded as "salvaged" and can no longer be plated in Ontario? I'm not sure be that would seem to be the case.
 
Malks said:
If the bike is "written off" doesn't that mean that it would be branded as "salvaged" and can no longer be plated in Ontario? I'm not sure be that would seem to be the case.
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With cars, a salvaged title can be rebranded if the vehicle passes safety after repair. The title says 'rebranded' so you know the vehicle did have a salvaged title in its history. At least I believe this is the case.

Not sure if it is the same for motorcycles.
 
JZ67 said:
With cars, a salvaged title can be rebranded if the vehicle passes safety after repair. The title says 'rebranded' so you know the vehicle did have a salvaged title in its history. At least I believe this is the case.

Not sure if it is the same for motorcycles.
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Not in Ontario.

Alberta, or Quebec can do this. That's why it can be a pile of problems buying a bike (or car) out of province. When transferred to Ontario, its branded and can't be put back on the road.

O.p. "write-off" can mean total loss (brand), or "financial loss" (no brand, but not worth fixing). Find out which one they mean.

You should have "right of first refusal" to keep the bike, regardless of what condition its in. Ask the adjuster.

Sent from my SM-G960W using Tapatalk
 
JZ67 said:
With cars, a salvaged title can be rebranded if the vehicle passes safety after repair. The title says 'rebranded' so you know the vehicle did have a salvaged title in its history. At least I believe this is the case.

Not sure if it is the same for motorcycles.
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As Matt said, if a bike gets branded, that Vin is useless in Ontario for street use. Now, it may still be worth it to own the bike for the rest of the parts. Use the good parts on a clean titled frame.
 
Unless things have changed: the "branding" is applied when the insurance company takes possession of the bike/car, when the ownership gets transferred to the insurance company.
When you "buy back" the wreck it doesn't gets transferred, so doesn't get branded
The "buy back" price is dependent on what the wreck will sell for... usually 20-50% of retail. A late model super sport wreck will trade for a higher percentage than a commuter
Your insurance company has no duty to sell you the wreck... just like you have no duty to accept their offers for settlement. Once you accept their offer, it's their bike to with as they see fit
 
bitzz said:
Unless things have changed: the "branding" is applied when the insurance company takes possession of the bike/car, when the ownership gets transferred to the insurance company.
When you "buy back" the wreck it doesn't gets transferred, so doesn't get branded
The "buy back" price is dependent on what the wreck will sell for... usually 20-50% of retail. A late model super sport wreck will trade for a higher percentage than a commuter
Your insurance company has no duty to sell you the wreck... just like you have no duty to accept their offers for settlement. Once you accept their offer, it's their bike to with as they see fit
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Buying back the salvage will be tough - you're making more work for the adjuster. He just wants to cut a cheque, send the machine to the scrap yard and be done. You'd have to make a very valid case as to why you were entitled to the salvage - not an easy task.
 
TK4 said:
Buying back the salvage will be tough - you're making more work for the adjuster. He just wants to cut a cheque, send the machine to the scrap yard and be done. You'd have to make a very valid case as to why you were entitled to the salvage - not an easy task.
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When I had the chance before it was simple. The ighest offer the insurance company had for the bike was X. They were happy to sell it to me for X. If I wanted to negotiate on X, too bad, they will happily sell to whoever made the original offer. You could negotiate on the value of the pre-crashed vehicle but not the value of the post crash vehicle.
 
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TK4 said:
Buying back the salvage will be tough - you're making more work for the adjuster. He just wants to cut a cheque, send the machine to the scrap yard and be done. You'd have to make a very valid case as to why you were entitled to the salvage - not an easy task.
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I don’t know about this. My adjuster offered me to buy the wreck even though I never brought it up (or was interested). Maybe it was because I was negotiating on the settlement price, but the offer to buy was after they made the final offer. It may also have been because I wasn’t being offered anything for the head unit I just installed, so I asked them if I could go retrieve it and they said yes.
 
I bought a bike back once, easiest thing in the world (insurer was State Farm). In fact, I did this with the explicit intention of simply continuing to ride the bike. They were cool with it, the only catch was that unless I repaired it completely and had it appraised, it had a paper value of $0 - which makes sense.
 
For a 20+ year old bike, they will be happy to sell it back to you. negotiate for The payout first, then once you have a number, make them an offer for the unbranded carcass.

At Copart the bike might fetch $400-500 after they brand it, less $100 in towing costs and another bunch admin/paperwork costs. A $500 offer would likely fly.
 
I inquired about buying back my BMW last Fall when it was deemed a total loss however the insurance company wouldn't offer that as an option as they said there was too much damage and it was a liability to sell it back to me. Other than mirrors/controls it was all cosmetic.
 
I was not able to buy my bike back after a total financial loss in 2016 but I was able to (and did) in 2008.
 
The bike is a 1974 CB750K. I restored it over the winter and put 400 km on it before the accident. I really don’t much care if I could put it back on the road, I have other titled frames that I could transfer the good stuff over to. I bought a brand new tank and side covers for it from Japan but was saving them until I had the carbs sorted out. Good thing I didn’t.
The insurance emailed me on Friday and said they are writing it off so I will see what they have to say about me getting it back.
 

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Very nice, hope you have receipts for the money you laid out
 
Lash said:
The bike is a 1974 CB750K. I restored it over the winter and put 400 km on it before the accident. I really don’t much care if I could put it back on the road, I have other titled frames that I could transfer the good stuff over to. I bought a brand new tank and side covers for it from Japan but was saving them until I had the carbs sorted out. Good thing I didn’t.
The insurance emailed me on Friday and said they are writing it off so I will see what they have to say about me getting it back.
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No plates required for bike at Paris.......
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