Hi, guys my 2002 F4i just got stolen from my parking lot. I've got comprehensive insurance which should cover it but one problem is that when I bought the bike I paid the original owner in cash and just put $2000 on the title (I paid $4750). Is this what the insurance company is going to check when they decide how much to pay me for it?

 

no they should only look at how much it is worth, such as Blue Book price. Just as if you would have wrecked and they had to fix it, you should be in the clear. Hopefully. And if I'm wrong please someone step up and say something.

 

+1

They should give your fair market value for the bike plus any upgrades installed (slip-on's, PC, Windscreen). Hopefully you have the receipts, or pictures to show all that was on the bike.

 

I know in PA, PennDOT requires a reason for a sale less than avg. retail value. NADA is about $4K on the bike, my guess is yeah you may only get $2K. Not sure though, hopefully some one will provide a more definitive answer.

Sorry to hear 'bout your bike dog, MFs [:@]

 

I am so glad to hear that, it had a full Muzzy exhaust, I don't have a receipt for it but I just checked and a picture I have clearly shows it. Thanks a million for the quick replies guys.

 

In VA the title doesnt even show price, it shows TAX, which i guess they could then back out price, but i doubt they would. In VA as long as you have a bill of sale signed by both parties (i just hand wrote on) then you can claim a lower price within reason. If it is too low then they require an appraisal, so it is touchy. The seller of my F4 was cool and signed one for a lot lower than what i paid, too. If it was stolen Progressive says told me they use KBB.

 

I think you should be OK as well.

I know this is a little different scenario but a couple of years ago someone gave me a hot-tub for free (well it did cost two 30 packs of beer and two gallons of Jim Beam to the guys who helped me move it!). Well wouldn't you know that the tub sustained some ice damage the following winter so I had a spa dealer come out and take a look at it. He said it wasn't worth fixing, quoted me the price of a new tub and I took that to State Farm. State Farm deducted a portion of the cost for depreciation and cut me a check for the rest. They told me that if/when I replaced the tub, they would reimburse me the remaining cost... guess what, I took my $5,600 and RAN! I used the dough to pay off a lot of bills and purchased some mods for my F4i.

Moral of the story: I have no clue what the moral is but hopefully your situation turns out well for you like mine did. Just keep your fingers crossed that your premium doesn't sky-rocket cuz some jacka$$ stole what belonged to you.