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I need help - insurance settlement value

2K views 12 replies 7 participants last post by  sbukosky 
#1 ·
No good deed goes unpunished. I loaned out my pristine 2009 Executive (8,000 miles)and it was put in a ditch. Just seemed to be plastic damage but then it revealed that the frame had a fist sized distortion in it so the insurance company is totaling it on me. They are offering $5,600 settlement and the adjuster wants to buy it and in total will give me just a bit over $6,000 for it. I've been looking for replacements and it would be tight considering I'd either have to travel out of state or gamble and have one shipped here going on the word of the selling dealer. NADA value is $6,580. What do you guys think? I have American Family Insurance, reputable, but I've never had a vehicle totaled so don't know if it is a take it or leave it deal or if I'm being low-balled.
 
Discussion starter · #6 ·
Thanks for the reply. Are you anywhere near Brighton or Lincoln Park? I found two candidates at dealers there. Just wondering if any are where you might frequent. C&C Sports and Bright Powersports are the dealers.
 
Discussion starter · #7 ·
I'm not too happy with the person but he's my brother. I bought my first motorcycle from him and have loaned him others. He lost it in a ride trying to keep up with me on my Gold Wing and his son on his whatever it is Honda. We're glad that he was not hurt badly, or worse. Unfortunately neither he or I are getting any younger. That big half ton Gold Wing is getting a bit hard to handle for me on my not so good days. Do what you can but the legs just don't have the strength that they used to. This is why I got the Burgman. Everyday was a good day on it. I just wanted to share that with my brother. Oh well....
 
Discussion starter · #12 ·
I'm an hour from both , what did you find I'll tell you if I know any thing about them .

TheReaper!
I decided that I'll probably go for a new one from the dealer. I was originally thinking another used 2009 and these two dealers had one, but I've changed my mind. Thanks.
 
Discussion starter · #13 ·
I viewed the hidden damage today. A dent in the frame, under where your left foot would be, was enough for the dealer to say that they won't repair the bike without replacing the frame. Liability reasons. I can understand that in these days but I was an aircraft mechanic and we frequently repaired airframe tubing. The frame as a whole is still in alignment. I rode it through some twisties after the accident and it handled fine. I'm getting a few hundred dollars more than the original offer so I'm taking the money and will see what I can do on a 2014. It needed a new tire anyway. <G>
 
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