So the dealer called me regarding my bike and i was told that the bike is most likely going be a total loss in their point of view. The insurance people have not seen the bike yet and dont know the total amount in damages untill tomorrow or the next day. Ridenow Powersports on Boulder told me that the insurance company might not cover the whole amount i owe, and i might end up paying the rest without having the bike anymore. Is that possible? Can i call a lawyer about that, because i don't want to pay money to anyone without having the bike. I should know tomorrow or the next day.

Insurance companies love to give out the least amount of money that they can. Meaning you will most likely be offered blue book value for it, and nothing for any accessories that you put on it. So get your accessories back. If you are upside down on the bike (owing more than its worth) then yes, you could be without a bike and still owing money on it.

You can call a lawyer, but if you find one to take your case you're going to have to pay the attorney. You would probably end up owing the attorney more than what you would owe on your bike.

Most of the time the insurance company will total a low-value sportbike just based on cosmetic damage alone because a new fuel tank, new fairings, mirrors and headlight can add up quickly. See if you can buy the bike from the insurance company if they total it and fix it yourself. They have to put new fairings on it but you dont. You can repair the damaged ones or buy aftermarket.

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What company was your bike insured with?

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VEGASRIDER................
Team Yamaha Blue '06 FZ6!

pacific specialty insurance company, i got full coverage

wow that sucks keep us post

here's a good read before you claim 'full coverage'... Motorcycle (or auto) insurance and you!

and... hind-sight is 20/20, but... Gap Insurance would have covered the difference between what you owe on the bike and what the insurance company will pay out for it.

Always get the GAP insurance - for this exact reason.

If you are upside-down on what you owe, GAP kicks in and covers what the insurance company will not.

Good luck .....



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So just got a quote of how much in damages and labor from the dealer and the total is 7k to repair the bike so its like new. Still no word from the insurance company they havent seen it yet.

wait till to you hear from the insurance before you start sweat'n about anything..

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-Sin City Sportbikes

+1000000 on gap insurance. They only have to pay what the bike is worth. You drive it off the lot and your already underwater with it.

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+1. They may even repair it. Too much to speculate about. Every claim is different. Just wait.

Wow, I'm surprised that they would call that a total loss.

Anyways, this is part of the reason why as a beginning rider you want to start off with a used or a smaller cc bike, just because it's a little more forgiving. Possibly, being on a 250 Ninja you may have been able to control the bike, despite having your clutch slip and all. Take advantage on the less powerful bikes and hone your skills, much more forgiving. Then after some time, upgrade to a larger bike.

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VEGASRIDER................
Team Yamaha Blue '06 FZ6!

Any update yet? Btw, in my years of dealing with such issues, it is common for insurers to "total" out a bike when damages are in the 50-60% range (damage to total fair market value). However, each insurer is different, and there are ways around the "total" if you are willing to deal with the bike not being "perfect" thereafter.

Example, I've had bikes that were about to be declared total loss, when I went to the repair/esimator and told him to use only aftermarket parts, use used parts, no need to repair/replace parts that are only scuffed. It can have a dramatic impact on the damage estimate. And it is helpful in situations where 1) you are "underwater" on your bike, 2) Don't have GAP to cover the underwater difference 3) still want your bike and figure its better to be making payments on something usable rather than making payments on a bike that no longer exists.

Good luck! And, as Green Dragon already linked, take a look at my article about Motorcycle Insurance and You.

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Motorcycle Insurance, and you!

Insurance told me the bike is a total loss, just signed some papers so they can process it and can tell me how much they will give me for the bike and if i can keep or buy back the bike. So im screwed either way.... I will update on how much they offer me.

Yep, it's all about the gap insurance. Lesson for the future. Moto Vegas' article about motorcycle insurance definitely makes one think. It may suck now, but make sure you LEARN from this experience so it never happens to you again.

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