Insurance - bike totaled. Book value vs market value

[RandyO]

She then changed her story told me they don't use KBB because it only provides Clean Retail value, and can only offer me Average Retail value.

that jogged my memory....when I was having issues with my claim, the insurance company tried pulling that on me, but by coincidence I had had my truck detailed less than a week before it was totaled, I was able to provide the with a receipt, so they really couldn't use that argument

[SteveM]

IIRC it is AR&^%&A.

Out of curiosity, how long have you been with them and what else do you have insured with them?

What you paid has no relevance to market value and the Registry assesses you sales tax on their version of market value regardless of what you paid. You're getting an awful lot of BS for a relatively simple claim.

[SwiftTone]

IIRC it is AR&^%&A.

Out of curiosity, how long have you been with them and what else do you have insured with them?

What you paid has no relevance to market value and the Registry assesses you sales tax on their version of market value regardless of what you paid. You're getting an awful lot of BS for a relatively simple claim.

Ya. I don't want to fully reveal the company until it's settled.

Been with them for 3 or so years I think. I have renters insurance and auto insurance as well. I will not be staying with them after this is settled. Already gotten a quote from DCU Insurance with a better premium.

This just occurred to me. They either knowingly made a low offer based on the wrong model, or they still have the wrong model in the system accidentally that's why the 2nd offer of $4600 was so low.

Need to clear this up tomorrow.

I almost want them to only communicate with me through email or recorded phone line. Shit keeps changing and I want this to be on record. Am I crazy?

[aldend123]

I almost want them to only communicate with me through email or recorded phone line. Shit keeps changing and I want this to be on record. Am I crazy?

Not at all. Especially at this point. So many benefits to getting it on record.

[SteveM]

Perfectly reasonable to ask that all communication be in writing.

[dankatz]

I had a spill with my previous 2009 Daytona 675. it wasn't bad - about 15 mph around a rotary in the winter. I decided to go with the claim at progressive. They were great. Paid for fixing it to new condition and paid me over $1500 for gear. For bikes, I definitely recommend them based on my personal experience. Judging by how much they gave me to pay to fix the bike and that it would have been totaled if the value was more than 80%, they really valued my bike well. Good luck - I hope you get quite a bit more.

[SwiftTone]

They're not coming up from $4600 and I'm still being firm at $6000. They said if this goes on we have to go through arbitration and I'll get whatever the bike is appraised at, even if it is lower than book.

I passed on whatever I have to a lawyer acquaintance of mine to see what he thinks. Will report back.

I've already cancelled my bike insurance with them and saved myself $200/year. Car and renters insurance is next.

[SteveM]

Do you use an agent?

[SwiftTone]

I do.

[SteveM]

Are they involved, helpful, etc? A local agent would presumably be more sensitive to losing all your business over this and would hopefully advocate for you or at least help you out together a strong case for the value you believe is fair.

[SwiftTone]

Are they involved, helpful, etc? A local agent would presumably be more sensitive to losing all your business over this and would hopefully advocate for you or at least help you out together a strong case for the value you believe is fair.

Not at all. They are on the insurance company's side. Insurance called the agent to get the purchase price since I wouldn't give it to them. Agent couldn't give it to them because they didn't make copies of both sides of the title.

I told then that the bike is not insured for purchase price so its irrelevant. Agent says it is relevant because insurance is to make me "financially whole" again.

Do you guys think I'm unreasonable for asking for ACV/Market Value if that is what it's insured for?

I just don't understand how it is so hard to pay me ACV/Market Value if that's what the policy states!

[Trajiks9]

Pretty informative read.
http://www.consumerfed.org/pdfs/Auto...2-%2014-11.pdf

[SteveM]

Withholding the purchase price, even if irrelevant may have been seen as an attempt to deceive. Nevertheless, if you paid additional premium for ACV coverage, you are entitled to ACV coverage.

The questions, of course will be the true ACV given a small market for this bike.

What does kbb shows 5200 according to this

2006 Ducati S2R-1000 Motorcycle Suggested Retail Value - Kelley Blue Book

Cycle trader is listing this as well.

Check out this 2006 Ducati Monster S2R out on CycleTrader.com shared from the CycleTrader iOS App. http://www.cycletrader.com/listing/2006-Ducati-Monster%20S2R-118884346?zmc=iosshare

[Imbeek]

Just tell them you spent $6000, /problem

[carsick]

As your attorney, I advise you just tell them you spent $6000, /problem

Fixed.

[SwiftTone]

2 months and 17 days after the event, I got sick of playing their BS game and finally filed a suit in small claims court. Looking forward to playing hardball with them in court.

[TheIglu]

What is the company? They had their chance to make it right. Now hang them out to try.

[SwiftTone]

What is the company? They had their chance to make it right. Now hang them out to try.

Company is @rbeII@.

If they try to settle, I am not taking 1 cent less than the claim. I've already waited this long. I'm going all the way.

[stoinkythepig]

Company is @rbeII@.

If they try to settle, I am not taking 1 cent less than the claim. I've already waited this long. I'm going all the way.

Once they settle on the property damage claim, open another claim for "loss of use" for the entire duration of accident to settlement. Not sure if you will qualify, but you got nothing to lose...

[McBiggity]

Once they settle on the property damage claim, open another claim for "loss of use" for the entire duration of accident to settlement. Not sure if you will qualify, but you got nothing to lose...

Doesn't work that way with 1st party coverage.
But, look into MGL Chapter 93A. If you are awarded more than they initially offered, you may have a case in which you can be awarded additional damages.

[Trajiks9]

Kick their A$$ sea bass!

[Not Sure]

LOL

Kick their A$$ sea bass!

Moderators please change his screen name to:

SwiftKickInTheAss

[caloots]

Take no prisoners dude.!!!! They are all full of shit

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