Bonneville America Forums Forums Off Topic Discussion Forums Lounge Insurance co. wants to total my bike...

The insurance guy finally went and looked at my bike and called me today. I was rather surprised to find out that they're recommending totaling the bike. I talked to the dealer and they were at-a-loss-for-words as well that the insurance company wanted to total it.

Estimated repair was $2500, bike value is $5200 (give or take) and the point where they would total the bike is around $3700 or so.

The insurance guy's concern is that it when they tear it apart they'll find more damage and that'll bring the estimate over the "total" amount. Personally, I think they don't want to deal with repairing a bike and would rather just pay me the money.

I did ask about removing the aftermarket stuff from the bike and the insurance company said no problem. So I'll be able to remove the Scepter pipes, EZ bracket posts, Steble horn, etc. with no hassle.

So, now I have the make the decision of taking the money or going against the insurance companies recommendation and having it repaired. I personally think it's repairable, but how often do you have an insurance company that just wants to give you full-amount for the vehicle without any hassle?

I guess I'm leaning toward having it totaled. If I do, I'll be buying another bike soon, but may wait for a month or two. It probably won't be another America/Speedmaster though - maybe a Tiger or a Sprint if I stay in the Triumph family (which I want to).

I still can't believe my time with the Speedy is going to end like this.

BTW, here is a pic of the rear fender damage:

Hi Matt if you can buy back the bike from the Insurance company, you will find a lot of people on here wanting to buy bits n pieces off you.

So if you are thinking of buying a new bike the bits you sell off can go towards your new vehicle.. WORTH PONDERING OVER. You will make a lot of $$$ to go towards your new steed..

I agree with Ray, if you can - buy it back and part it out. Sounds like you might be ready for a different member of the Triumph family anyway.

I don't understand why the insurance adjuster won't pay the shop an hour or so labor to tare down the bike and get a good look at all of the damages.He would only need to pay the shop that amount if indeed the bike is a total loss since if they repair the bike that labor would be included in replacement of what ever parts needed to be replaced.I know at our body shop cars dont get totaled on unseen damages.Just sounds to me like you got a lazy insurance adjuster.

Why not total it, then buy back the bike from the Ins. Co. It looks to me like the damage is easily repairable and you can get used parts off the net for a fraction of the price of new. Thats what I did. They totalled my 02 (worth $40000)(Deer damage, 32 hundred dollars including labor,)I bought the bike back for 800 dollars, spent 500 dollars on E-Bay getting used parts (some as good as new) and pocketed 25 hundred dollars. And yes, my insurance will still full coverage my bike after I get it fixed up.

I wrecked my BA some years ago. They totaled it out. I bought it back and I have ridden it a lot. I'm currently doing some upgrade work on it. I bought a Speedmaster while working on the America. Everybody wants the parts, the motor, transmission and wheels can be sold for a lot more than the salvage or buy back. All my America had to have was a new front wheel and the fork tubes straightened. The rest was cosmetic. But it back! Use the rest of your cash for down payment and get a new loan on the new bike. Why have two bikes, "Because you can!"

You and the bike never parted company when hit, you didn't even go down. Buy it back, they just don't want to mess with it.

The only down side to buying it back (at least in the state of Pennsylvania) is you get an "R" (reconstructed) title and a greatly reduced retail value if you ever do want to sell it down the road.

WOW, that looks EXACTLY like what happened to me (that I mentioned in your earlier post) Matt. I can't believe they want to total it. Granted, maybe you were hit harder than I was, but the damage looks identical, and mine was nothing more than a new fender and taillight assembly (oh, and of course I had a South Carolina Plate and not Colorado, but...)


That sucks though, hope it all works out somehow in your favor!

Matt, the math is pretty simple to me. You have to let them have the bike. After paying off the bank and getting a salvage title it looks like you won't have enough to fix it. Even if you do the value will be greatly reduced with a salvage title on it now.

It sounds like you thought it through. Sell off the after-market and move on.

Good luck with whatever you decide to do.

Matt just buy it back and sell it as a total for $1500 + tax & title. I am sure you will sell it on here..

Just ask if anyone has the cash.. Good luck with whatever decision you decide in the end. Only you can make it..

Personally, I'd take off everything they would allow and let them have the bike.

I agree, you didn't even go down. I doubt there is anything really bad wrong. Buy it back fix it for a few hundred bucks, maybe even just cut the fender above the damage and put on a side mount tail light and make yourself a nice bobber. Or as was also said above go onto Ebay and find some cheap used parts and fix it for a fraction of the estimate and still have cash left.

I have to agree with the total it crowd. Paying it off looks good on your credit, take the parts and sell them on here or e-bay, How much for the septers? idd take the money left over and personally idd buy a rocket. there are some good used ones around nowdays. no i talked to would buy a salvage bike unless its for parts or project.

That's crazy, I'd have them total is and then buy it from them and fix it.

of course from this pic we cant see the swingarm and backbone but, just from the looking at this pic it looks like you could bob that rear fender and maybe get a new tire and ride it?? the ins will pay it off and for $1500 your rideing. sounds like the way to go???? i think you could probably finace 1500 on that bike, totaled or not, if you like the bike then if it were me i would be thinkin long and hard before i just cave like that. so what about resale???.... you might find yourself keeping it for life. i have a 72 Triumph that i have owned since the spring of 73 that i will probably own untill i die and then my son will own it, the bike hasnt really cost me anything thru the yrs so why would i sell it??? besides if the day ever did come that you wanted to sell it, i am sure somebody on here would give you $1500 for it, even if it were a few yrs from now. there are $1500 in parts, i know there is a cdi box that someone would want hahahahahahahaha just food for thought and my $0.02 worth

Well, I stripped everything off my bike on Friday and will wait until everything is finalized with the insurance company before I start selling it.

I also know the salvage/auction company where it's going and I'm tempted to see if I can buy it back at auction - just depends on how long it takes before it goes on the block.

Once I have the money from the insurance co, I'm going keep my eye out for a Thunderbird sport. I think this time around I'm going to try and buy something with cash, rather than financing it. Well see. I'll keep my eye out for another America/Speedmaster as well.