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How much doesit cost to buy your totaled bike back from insurance?
Wiki User
∙ 12y ago
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Wiki User
∙ 12y ago
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What makes a motorcycled totaled?
When a vehicle covered by insurance gets wrecked, the insurance company looks at how much it will cost to repair. If repairing the bike costs more than it is worth, then the insurance company declares it totaled and pays for a replacement.
Can you force your insurance company to fix your motorcycle if they assess it as being totaled due to it being valued at 4500 and the repair costs being 3900?
Sorry but no you can't. The insurance company have the option of repairing it or totalling it. Since the value of the bike is more than the cost and they want to give you value of the bike, why not take it? And if you really want to repair the bike you can then buy the bike from the insurance, who now owns it, and then have it repaired.
What if your bike was stolen from your house and you claimed on the house insurance. shortly after you received the payment and bought your new bike your old one was recovered. who owns the old bike?
The insurance company is now owner of the bike. Just as in vehicle claims where the vehicle is totaled, you may only reclaim the vehicle if you pay the insurance company a salvage value amount (the same price they are selling it to a junkyard for). Unfortunately, the insurance company probably does not want a bike, and may either demand refund of the claim payout, or just tell you to keep the bike. The insurance company was probably notified of the bike's return, so they will probably contact you. At least, that's how it is in Arizona. Your state laws may differ.
What do you do if your motorcycle is totaled in an accident with no insurance but you still owe on the bike?
you still owe on the motorcycle. that's why banks require full coverage at the time of the loan-so that they will get their money. Since there is no insurance company, YOU are responsible for paying off the loan.
What do you do if you carried the note for a friend who moved away and totaled the bike and have not paid for 10 months and you cannot contact him?
Repo whats left of the bike, sue him for the balance due, get a judgment for that amount, attempt to garnishee his wages. Contact his ins. co. IF you required him to maintain insurance coverage.
What major insurance companies offer bike insurance?
Yes there are a few major insurance that cover bike. GEICO, Allstate, and Nationwide all offer bike insurance.
What does the insurance company do if your motorcycle is totaled?
Usually they will give you the current used motorcycle value . You can find this in the NADA website: http://www.nada.com/. If you had accessories you will probably have to negotiatefor those or maybe take them off the bike depending on your coverage and your adjusters.
Where can you get bike insurance for a skyjet?
Rampdale insurance
If someone has full insurance on a 2005 Yamaha in Arkansas and he wrecked it if his insurance fixes it is there a return policy that will allow them to take it back and not ruin his credit rating?
Read this question yourself as if you don't know the details of this scenario. What has having a wreck and the insurance fixing the bike, have to do with ruining his credit. What do you mean by, "them to take it back". Why would the insurance company want to take it back? Do they hold the loan on the bike? The bottom line is that a repo is a repo. It is always a bad deal and will always ruin your credit for 7 years. Do not allow the bike to be repossessed.
Which motorcycle insurance company advertises themselves as the UK's favorite bike insurance company?
Bennetts Bike Insurance advertises themselves as the UK's favourite bike insurance company. Their insurance includes 90 days EU cover, theft, loss or damage to the bike, accident recovery, riding other bikes, multi bike policy.
What are the benefits of having classic bike insurance?
"*Lower rate (usually) than regular bike insurance
Is it smart to own bike insurance?
Yes, it is reasonable to own bike insurance if you use your bike a lot in a well populated place, or if your bike is expensive. You can never be too careful.
