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Diminished Value?

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Nooner

Nooner

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Joined
Mar 18, 2010
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Location
Austin
A few weeks ago I was in an accident on my Super Tenere. While riding past a gas station a drunk woman pulled out and nailed me. Fortunately, when I saw her pulling out I rolled on the throttle and was able to keep the bike on her wheels, saving myself from a tumble.


She ended up being cited for failure to yield and DWI (she blew a .130 quite a bit AFTER the accident...), so her insurance company has accepted liability.


The insurance adjuster provided an estimate of about $4500 to replace the main frame and subframe, and despite needing a new frame it sounds like they do not want to total the bike... I have the bike at the most reputable local Yamaha dealer and it is my hope with a reasonable estimate that they will total the bike, but it sounds like they don't want to... SO I am looking into diminished/depreciated value. Anyone have an experience with that in a motorcycle with the frame replaced? I am sure that if I were to try to sell it with a replacement frame it would not sell for close to the value... the bike had under 1500 miles on it at the time of the accident...


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The insurance company should compensate you for the decreased value but you will have to ask for it. Last time this came up for me, the dealer stated my car would be good as new. I stated i would like to trade it in for the full value and suddenly they found enough damage to total it.
 
dunno yet - I may, but I wanna capture the diminished value in case I do.

My preference would be for the ins. co to total it and lemme buy something new - the bike only had 1500 miles and now it will have a non-original frame...
 
When they come with the argument that it will be good as new challenge them to replace it with one that has never been damaged for you and then they can sell the repaired one for no loss of funds.

we have been in two different accidents in the last 20 years where we were not at fault, someone hit us each time.

I got diminished value on both occasions after requesting it and giving a trade in value for my vehicle to a dealer with full disclosure of its damage and repair
 
I don't mean to tell you how to handle your affairs, but why are you dealing with her insurance company's adjuster? You just need to build an estimate to get your bike back to new condition. Have your favorite Yamaha dealership put together that estimate and they'll submit it to the insurance company.

http://www.ronayers.com/FRAME-C490743.aspx

RonAyers.com prices are significantly less than what a dealership would charge and you're probably looking at just shy of $2K for frame and sub-frame with shipping. Since bikes aren't designed to take large impacts from the side, you'd probably need to at least inspect bearings at pivot points on the bike. There's quite a bit of labor involved besides just moving everything over to a new frame.

Having crashed MANY bikes, some even while racing, over the years, there's a good reason most insurance companies that have a decent share in bike policies just write off bikes with frame damage. It takes some time to take stuff apart to check for straightness and that nothing is binding. For instance, I take apart the front-end and check swingarm action just for a low-side.

(Didn't mean to sound pessimistic or stick my nose where it didn't belong.) ;) Hope everything works out!
 
seanpublic said:
I don't mean to tell you how to handle your affairs, but why are you dealing with her insurance company's adjuster? You just need to build an estimate to get your bike back to new condition. Have your favorite Yamaha dealership put together that estimate and they'll submit it to the insurance company.

http://www.ronayers.com/FRAME-C490743.aspx

RonAyers.com prices are significantly less than what a dealership would charge and you're probably looking at just shy of $2K for frame and sub-frame with shipping. Since bikes aren't designed to take large impacts from the side, you'd probably need to at least inspect bearings at pivot points on the bike. There's quite a bit of labor involved besides just moving everything over to a new frame.

Having crashed MANY bikes, some even while racing, over the years, there's a good reason most insurance companies that have a decent share in bike policies just write off bikes with frame damage. It takes some time to take stuff apart to check for straightness and that nothing is binding. For instance, I take apart the front-end and check swingarm action just for a low-side.

(Didn't mean to sound pessimistic or stick my nose where it didn't belong.) ;) Hope everything works out!
Click to expand...

your feedback is very welcome!!!

The bike is at Central Texas Powersports as we speak. I will call tomorrow to talk bearings. I too have a distinct lack of confidence in a total frame relacement repair... I think CT Powersports would do a great job, but I want to make sure that everything that should be replaced, is - especially with the kind of travelling I have intended to do on this bike.

I personally am of the opinion that they should write off the bike too - but what makes it worth repairing in their eyes(the value), should also be a liability with regards to diminished value now - in my eyes.
 
Be sure and get them to pay for your back pain, your sprained knee and your hurt elbow too.
 
The best thing to do if they balk at all or act like they've never heard of DV or try to imply it doesn't apply to your situation is get an appraisal. There are a few services online, but you need an appraiser that will actually go inspect it before and after the repairs, take pictures, etc. And you'll need to advise your shop that they may have to testify that their repairs were as good as they could possibly be and that the charges were reasonable. It sucks to have to spend money to make them do the right thing, but if you end up in court (probably small claims), then a written report with an appraiser on the stand to back it up is your best hope. Hopefully it won't come to that for you.
 
You are HURT. All the rest is crumbs, but the meds are where they have all the latitude. Then the diminished value is mute.
 
I guess part of it is my bitterness with the biking being down and about my not being able to ride as I do PT, and Acupuncture and Chiro...

I think I kinda feel like I want to exact a little bit of blood now, because it will be a long time before the bike or I will be in the condition we were before the accident... :miffed: My back is a hot mess...
 
The medical and vehicle claims are completely separate from one another. The probably even have a different claim number so don't compromise on one for the other.
 
budzrex said:
When they come with the argument that it will be good as new challenge them to replace it with one that has never been damaged for you and then they can sell the repaired one for no loss of funds.
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Good argument.

I'm no mechanic, but I would think if the frame was toast, they would total it.

Maybe you need to get an attorney involved to represent you, the victim. Their policy holder was DUI when the accident occurred and I think an attorney would have a field day with that.

Good luck.
 
sharkey said:
Good argument.

I'm no mechanic, but I would think if the frame was toast, they would total it.

Maybe you need to get an attorney involved to represent you, the victim. Their policy holder was DUI when the accident occurred and I think an attorney would have a field day with that.

Good luck.
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Yes - I have an attorney for the personal injury side of things, but the property claim is all on me. My personal injury attorney will file a diminished value claim after the bike has been returned to me (presumably repaired) - but said that I have to let the ins. co and the repair shop do their thing for now.
 
It's amazing that insurance companies seem to prefer to pay $x plus added costs of $xxxx before eventually paying the $xx they should have paid to begin with. Why do they prefer to pay $xxxxxx total rather than just paying the $xx up front and being done with it?
 
LDB said:
It's amazing that insurance companies seem to prefer to pay $x plus added costs of $xxxx before eventually paying the $xx they should have paid to begin with. Why do they prefer to pay $xxxxxx total rather than just paying the $xx up front and being done with it?
Click to expand...

Because enough folk accept the $x to way more than offset the few who hit 'em up for the added costs.
 
Ask for loss of use and you'll get them to total the bike in no time.
 
They are supposed to pay loss of use on the value of the damaged property, not some cheap death trap micro sized rental car. TX Supreme Court has said so many times, but again, you have to sue to get it because insurance companies think they're above the law and count on you not knowing it, or being bullied by the floors and floors of attorneys they own.
 
ThomasM said:
They are supposed to pay loss of use on the value of the damaged property, not some cheap death trap micro sized rental car. TX Supreme Court has said so many times, but again, you have to sue to get it because insurance companies think they're above the law and count on you not knowing it, or being bullied by the floors and floors of attorneys they own.
Click to expand...


You won't get it without lawyers. I'm still fighting my own loss of use payment and I do this for a professionally!
 
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