Author Topic: Insurance loss adjuster trying to do me over on price of the bike has anyone  (Read 1776 times)

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OfflineDeadRedUk

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    Guys I have recently threw my K1600gtle down the road and the insurance loss adjusters are trying to screw me on the price, the bike although only cost 18500, it had a load of extras on it thrown in which would have taken the price to around 20000. Long story short came round a bend and some nice chap had thrown what turned out to be animal fats all over the road, result was me and K1600 departed ways I walked away so no probs there, but the insurance company has now wrote the bike off at 13000 for the repair but they are only offering £15500 which is the glasses guide price for a late 2014 bike. has anyone been successful in getting a loss adjuster to raise their offer?
    Any help or advice greatly appreciated as looks like I'm gonna be out of pocket to the tune of 5000 to replace it.

    Edd

    OfflineBob S

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      Take a look at the BMW Motorrad used bike site and see if there are any similar bikes to yours and what prices they are going for. Do the same with the MCN site. When you have the prices, and if they are higher than the offer they have made then go back to the insurance company and advise them of the prices being charged. You should end up in the same position as you were i.e. with a bike of similar age and mileage to yours
      « Last Edit: 2015-08-10 01:20:54 by Bob S »
      2012 K1600GT-SE

      OfflineDeadRedUk

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        have been looking this weekend and can find bikes at 17500 and 16700 will hit them with that tomorrow. cheers

        Offlinegaryculb

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          In the USA you are often required to get a supplement to your insurance policy to cover the expensive add ons or accessories. Best,


          Doc
          May You Live as Long as You Want & Never Want for as Long as You Live!

          Offlinecanazei1200

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            Were all the extras included in your policy and was it an agreed value policy?
            Found this out the hard way after a similar accident on a gs
            They would pay for my extras as not declared and only paid out the agreed value minus my excess result loss of 1700 pounds
            They said I should of checked my policy better
            Now I have a k1600 I checked my policy to ensure I'm getting what I want and I took out Bmw shortfall insurance 300 pounds for 3 years upto 5000 pounds just in case.

            Wish you all the best of luck.

            OfflineTony23

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              Unfortunately I dont think insurance companies will pay much attention to dealer re sale prices, you would need to look at what the dealers would have offered you as a px to get a better idea on value. Can you not agree with insurance to remove the extras , assuming they are ok, as they have not been allowed for in their valuation.

              OfflineBob S

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                The dealer prices are pertinent as they are the prices that would have to be paid to replace the bike with one similar in age, mileage and equipment levels. It is a tactic that has been used by many when offered a derisory settlement for a total loss. The OP is entitled to be put in a the same position that he was in prior to the accident.
                2012 K1600GT-SE

                Offlinechris_uk

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                  I used easygap, although there are many others out there, but for a small premium its a worthwhile peace of mind investment.


                  Summary Of Purchase
                  Here is the information about your personal policy:


                  Policy type: Combined Vehicle Replacement
                  Length of cover: 3 yearsClaim
                  Limit: £10000GBP
                  Price Paid Today: £105.00GBP (inclusive of IPT)
                  Claim Payment Type: Fully paid
                  « Last Edit: 2015-08-14 19:02:59 by chris_uk »

                  Offlinee7navy1999

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                    From personal experience you should get a "actual replacement cost" rider on your policy.  It your bike is a loss the insurance has to pay actual replacement cost . The policy cost more of course

                    OfflineDeadRedUk

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                      Thanks Guys the Insurance did pay out but not full value, but could only find one other bike 2015 spec for sale with the same low miles, they met me most of the way there. So New K1600GTLExclusive on its way, so if anyone knows anyone interested I have two side boxes in Silver, the three motorrad liner bags and an eye level brake light up for grabs at sensible offers.

                      Eddie

                      OfflineBob S

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                        It sounds like you were able to get an increase on the original offer they made Eddie, was that the case?
                        2012 K1600GT-SE

                        OfflineDeadRedUk

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                          Yes I got an extra grand out of them had to haggle and show evidence, but hey it was worth the couple of hours of increased blood pressure.

                          Edd