All,

I think my insurance company is undervaluing my stolen bike. My options are to either take what they're offering or execute the "appraiser clause," which basically says that I hire an appraiser, they hire one, and the two of them work out the value. Does anyone know of any good companies or appraisers out there who will give me a decent valuation? Also, any advice on dealing with the insurance company is welcomed.

Major specs on my bike:
'03 954
17k miles
Clear Title
Full Carbon Fiber Fairings
Full Yosh TRS with Carbon Fiber Can
GPR Stabilizer

Insurance is valuing it at $5k, so the next question is, do you think any appraisers will go any higher than $5500? If not, it's probably not worth it.

Thanks all,

ND

 

KBB is $4,160. So your ins co is already valuing above book & allowing for some extra value for your aftermarket add-ons/mods & lower mileage.

Do what you think is best. Question is - is the extra aggravation of continuing the process for an undermined period for a maybe extra $500 worth your time & trouble.

 

Newbie... $5K is more than worth it, IMO(In My Opinion) Take it and RUN. I understand where you feel like the need to get every $$ back out of the CF Fairings and so on, but I am with GotCBR, is $500 worth the extra headache and time to maybe get another $500?

 

Well in your insurance, if you had full coverage, you should have about 3-5K of mod coverage which they are not accounting for, and should be separate from the bike appraisal, although its not a bad price. If they're feeling generous, you may see another $500... Try to reason with them and tell tem of those mods, If you haven't already.

Did you keep receipts? Big question

 

The thing with mods are just because you spent $500 to replace a $500 OEM part doesn't make your bike worth $500 more as that is the concept most people think.

 

Depends on your insurance carrier. Is it going based off fair market value? Did you have coverage for the aftermarket stuff? When my 500r was totaled, they gave me a list of similar bikes and the value of those bikes then determined my bike based off the current market value.

I'd start by looking for similar bikes in your area and see what private and dealer values are, then you can point that out to your insurance company.

 

5 grand for a bike that is basically 10 years old, and only was 11 new.

Take the 5 and be happy with it is what I would do, Nada says your bike is worth 3,900 in perfect shape, If you start pushing to much and take it to court or what not. You may end up with 4 grand tops. They are already offering you more than the bike is worth. You can't really complain about that.