how to value bike for insurance purpose

I mentioned here that I was in an accident back in may. A lady ran into me -her fault.

I have a fully dressed seca 750. It took me about three years to find all the components and to put the bike together. It was in very nice condition. Carbs cleaned and synced, valves adjusted and in spec, fuse box changed over to blade style, new tires, new brakes, seat re-covered etc. - 18,000 miles (I bought it with less than 4,000 original miles).

The insurance company wants to call it a total loss and give me $1800 bucks for it. I think it's a bit low. I would like to settle around $2400. The insurance estimate to fix it was $2600.

What do you guys think?

And then how would I go about buying the bike back cause I would really like to fix again and keep riding it if I can.

 

Smack them up side the head with THIS

 

and then it's 1560 so take the 1800 and be happy

 

MiCarl - thanks!

Pollock - yeah but that's for a 650 and they don't make a full dressed 650 so there is a difference.

I did find a fully dressed 750 with low miles out west for @ $1650 but I'm not out west. If they want to buy that one for me and ship it to me then fine.

The whole idea of insurance is that they are supposed to put you back to where you were prior to the event. The dealer says it would take $2600. That's all I'm saying. This thing was not my fault. I was mindin' my own business. I would like $2400.

If anybody here can find me a listing for a fully dressed 750 in the midwest or northeast I would appreciate you passing it on.

I'll keep you guys posted on how this turns out.

 

Haggling with insurance is a pain, particularly on older vehicles. For future refrence you can have a poilcy written for an older vehicle that is based on an agreed upon replacement value. That way there's no haggling, but you will want to update the policy whenever the replacement value increases. I have my undressed Seca 750 insured for $2000.

 

k-moe - thanks but this is NOT with my insurance company. The other driver was cited and her insurance is paying.

 

Do you get to keep the bike ? parts would be $$$

 

Sorry, I looked at several and linked the wrong one. I've edited so it shows the 750.

 

Thanks MiCarl!

Wizard - I am going to try to keep it. I want to fix it and put it back on the road. The damage is primarily cosmetic: lower fairing, rear luggage, right muffler, seat, foot peg, rear blinker etc.

If I decide to sell it I will part it out here first. Plus I have another engine and trans and a lot of extra 750 parts.

 

Doesn't matter. If your insurance coverage has the replacement value set at a fixed amount, then you have a solid negotiating point when another insurer makes a payout offer. It's hard for an adjuster to negotiate downward when the vehicle's primary insurer has already set a replacement value for the vehicle.

 

k-moe - thanks!