Triumphrat

69trophy · 11-14-2009, 09:55 PM

So Thurs I am on my way to the shop when a car turns left in front of me from the on coming lane. Only a few feet to react and no where to go I end up nailing her passenger head light superman the hood and land on my feet. needless to say I am a lucky man and just really banged up. The worst part of the story thank god is my 69 t100C is pretty wasted. Front end is done, rim, forks, bars, mirror,gauges, tank, exhaust and the left side is scraped up and all the bits in between, dents in both side covers, front down tube is bent and the front triangular brackets that mount the engine are bent indicating the lower frame or at least the engine mounts are bent.
The pisser is it was totally original (pain, wiring, sticker still on the frame, everything)with 11K original miles. Even if they could fix/totally restore it, it would not be what it was in original condition.
Ideally I would like a big check and then be able to buy the wreck back. She is may baby (first bike) after all an maybe someday I could get her back on the road. So.. any advise on how to deal with the insurance CO on this would be much appreciated.

Snakeoil · 11-14-2009, 10:24 PM

First, glad you are okay and really sorry about the bike.

Hopefully there is somebody on the forum in the insurance business and can give you some good inside advice.

First question is are you in a no-fault state. If so, then I believe it is your insurance company that pays for the bike and then they go after hers. If not, then you go after hers. If you have recent pictures of the bike and can document it's condition, you could use that to pay an appraiser to give you an estimated value of the bike. Otherwise, my guess is they will treat it like a 40 year old vehicle and give you squat for it.

Look it up on NADA, and KBB and get the values they publish. That should carry some weight, value-wise.

Did you have a comprehensive coverage on the bike? If so, I hope you had a declared value that was what the bike was truly worth, or better yet higher. If you lowballed it to keep your premiums down, I would think that you shot yourself in the foot. Nothing like a formal declaration by you on what you felt the bike was worth when you insured it.

Please go to a hospital and get fully checked out, including x-rays of your spine and such. If you fail to do this, you will have no way to make a claim later should you start to have problems. Can't remember what the law says, but I think it's eithe 24 or 48 hours after the accident or you can forget any claim for injury later.

Good luck and hopefully you will come out of this at least even.
Rob

69trophy · 11-14-2009, 11:26 PM

Snakeoil Thanks for the positive thoughts. I actually spent two days in the hospital and have a pretty messed neck and back but like I said, happy to be here. I should have the medical covered since the hospital visit. I am in CO which just changed from a no fault state so her ins should be covering the bike. I do have full coverage on my side I think I covered it a 4K. but really just concerned they are going to say it is worth 2 k or something less based on comps of bikes of the same year, but not take the condition and correctness of the bike into account

Red1959 · 11-15-2009, 12:21 AM

Quote:

Originally Posted by 69trophy

Snakeoil Thanks for the positive thoughts. I actually spent two days in the hospital and have a pretty messed neck and back but like I said, happy to be here. I should have the medical covered since the hospital visit. I am in CO which just changed from a no fault state so her ins should be covering the bike. I do have full coverage on my side I think I covered it a 4K. but really just concerned they are going to say it is worth 2 k or something less based on comps of bikes of the same year, but not take the condition and correctness of the bike into account

Sorry to hear that. Iv'e been hit a few times in Ohio. If the bike was towed, you may be racking up storage charges. Insurance companies do not like that . So if your wanting the bike, try to get it out of storage and into your hands as soon as possilble. If it is covered for 4k you should get the 4k and keep the bike at least that is my experience in Ohio.

Snakeoil · 11-15-2009, 11:40 AM

Insurance companies seem to have separate policies regarding the disposition of vehicle after the claim is paid. I know a guy that has filled two buildings buying totalled bikes from insurance companies. And based on talking to him, they really don't like having to deal with disposing of them. They know he buys and they come to him. As a result, word has gotten around and he gets bikes offered to him from all over the east coast. All are Harleys. My guess is the plastic bikes have little or no scrap value.

I would agree that your insured value of 4K is all you can expect for the bike. For future reference and the use of others, you cannot arbitrarily insure a vehicle for any amount of money. Once you get to something that is higher than what they think is reasonable, you will need a certified appraisal from an auto/bike appraise that confirms the value of the vehicle. I had a '61 Corvette for years and every 3 years would have to get it reappraised to maintain the insurance.

So, my suggestion would be to "ask" what will become of the bike after the claim is satisfied. If they ask if you want to purchase it, then it's up to you if you want to appear eager or disinterested. I'm sure it will boil down to a negotiation and they are going to want to clear it up quickly and easily. If they have to come get it, and then sell it or auction it off, they incur more expenses so I would expect them to let it go for some minor cost like $25-$100. Walk around the bike with the adjuster. Show the front end is scrap, frame is scrap, etc.. Also, my guess is the original VIN will no longer be valid after this process and it will get a scrap VIN and title once the bike is repaired. So, if it were mine, I'd build that custom I've always wanted, like a maybe a Triton. Because it won't be an original bike anymore.
Good luck,
Rob

69trophy · 11-15-2009, 02:34 PM

Quote:

Originally Posted by Snakeoil

So, if it were mine, I'd build that custom I've always wanted, like a maybe a Triton. Because it won't be an original bike anymore.
Good luck,
Rob

Ha...

I have always loved the lines of the feather bed/triumph motor, and in the last two months or so I have really been thinking seriously if I am ready to commit/ have the fortitude to see such a project through. About two weeks ago I was considering selling my 70 ironhead chopper (which takes most of my wrench time) to fund a triton project. Even started looking around for parts etc to get a feel for what I might be in for $ and time wise. Since my hands and back are pretty banged up I will have winter to plan/collect.
thanks again for the positive spin in a very depressing situation.

RidingDonkeys · 11-15-2009, 03:28 PM

I'm just starting a project of my own and I can tell you that the economic downturn has led to a lot of deals popping up out there. As the saying goes, one man's loss is another man's gain. If you've got the spare cash, now is the time to start that project.

pookybear · 11-15-2009, 07:23 PM

69trophy,

Ouch, is all I can say. Sorry to hear about the bad news. In your
position I would try to buy back the parts, and that is all that bike
is now, parts. So make sure it is cheap, and try to keep your heart
out of the talks.

I hope your neck and back recover. And you get back on the
road again.

Pookybear

takeitez · 11-15-2009, 10:05 PM

69trophy

First, take care of yourself. Get checked out and make sure your own insurance company knows that you are still in the process of getting checked out.

About your bike, remember there are likely two insurance policies involved here. If you want to collect under your policy, the insurance contract will apply. You can collect the book value less your deductible. Since you want to hold onto the bike, find out if can buy it for the salvage value. You're probably not going to end up with anything close to what it's worth, however.

But I don't there's a law that says you have to make a claim against your own policy. Unless the other driver was uninsured, you can make a claim against him (her?) just like you could (and may) if you turn out to be injured. This claim would not be governed by the insurance contract, except for the limits available to pay the claim. It would be governed by Colorado's negligence laws and would likely allow you to recover something closer to what it's going to cost you to get it properly fixed. Two problems with this approach: first, you're going to have to wait to get paid and you're going to need to get a couple reputable sources to estimate the cost of repairs. (Make sure they are thorough and use full retail prices.) Second, you want to get the bike into a secure and inexpensive place for storage until the other insurance company inspects it. Don't do any work on it until you get their permission and don't let any body do anything to it until they get your permission.

There's a lot to consider. I've got some experience in this area so PM me if you have some specific questions.

Bill

69trophy · 11-15-2009, 10:56 PM

Thanks for all the advice so far, I have the bike, asked the cop not to impound it so my buddies could come get it. I have a call in to her Ins so we will see what they say next week. Denver has a few reputable older brit shops that do full restorations so possible I can send the Ins company their way on priceing.