So, I wrecked my 696 yesterday. On the highway and lived. Which is great. Questions I have now is how to deal with the bike/insurance etc. Any answers from people who hve dealt with this would be helpful:

just got the call from the claims adjuster. According to him there is enough damage for repairs to cost as much as the bike i.e: bike is not worth fixing.

1. Does insurance cover my added on parts?
2. Can I salvage the bike and cannibalize it and sell parts? Or does nationwide now own my bike, if they make the payout for the bike?

Sorry you crashed, but congrats on being alive!

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1. Does insurance cover my added on parts?

Depends on your insurance. My agent had put on $3k for accessories before I even asked him about it. Check your policy, it may be there.

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2. Can I salvage the bike and cannibalize it and sell parts? Or does nationwide now own my bike, if they make the payout for the bike?

You can buy the bike back from insurance. Ask about it and they'll give you a chance before they sell it to someone else.

Who has the bike?  If it is at a shop and the insurance company has done an estimate you may not be able to touch it.  When you wreck always have the bike towed home first.  This gives you the oppurtunity to strip after market for reuse or sale.  

Like Fergus said, it depends on your coverage. Some plans cover 100% if you select and pay for that option.  If not, you may still be able to get some reimbursement if you have receipts, but usually its half or less.  Always keep all receipts for everything you put on the bike or anything you wear (helmets, jackets, boots, etc..).

Sorry to hear of your crash.  Hope that you are alright.  Got any pics of the bike?

That sucks.  Here's what you do -

Step 1 - Stare out your window during a rainstorm, smoking lucky strikes cigarettes.

Step 2 - there is no step 2.

sorry for your loss.

Damn, sorry about the crash, but here's to living to tell the tale

Hopefully your insurance will take care of everthing in a timely manner

Sorry to hear about the accident, I assume you are OK?

If your collision pays, the insurance company owns the bike and you can but it back salvage.  If someone else is at fault and their insurance pays it depends on the law where you are.  In some states you collect for the bike and can keep it.  In others you will have to buy it back salvage.

Most bike insurance pays up to a certain amount for accessories and protective gear.  You need to check your policy.  If another party is at fault their insurance covers anything that was damaged in the accident.  Of course, if the other party has no insurance...

Steps following a crash:

1:  Is the Bike Okay?

2:  Am I Okay?

3:  Did anybody see me?

4:  Ow!  What hurts?!?!

Quote from: howie on September 03, 2008, 02:27:13 PM
Sorry to hear about the accident, I assume you are OK?

QuoteIf your collision pays, the insurance company owns the bike and you can but it back salvage.  If someone else is at fault and their insurance pays it depends on the law where you are.  In some states you collect for the bike and can keep it.  In others you will have to buy it back salvage.

There really wasnt a second party involved except for the guy who cut me off, but never stopped. Im pretty sure he didnt even know what happened. So it is my insurance that is goign to pay for it. Would you suggest that I buy it back salvage to try to part it out?

QuoteMost bike insurance pays up to a certain amount for accessories and protective gear.  You need to check your policy.  If another party is at fault their insurance covers anything that was damaged in the accident.  Of course, if the other party has no insurance...

I do need to check my policy. If that is true, then hopefully I can get my termis and soem other addons covered.

Thanks for your input

Glad to hear your alright!

Actually I didn't think insurance companies would cover "mods" unless you declared them and they adjusted there policy to reflect the goodies.

I would think local laws determine what you can and can't do as far as salvaging the bike goes.  I'd ask some local people with bike experience.

Glenn

Glad you're alright, but how'd the wreck happen?

don't buy it back to part it out.  If you went down on the hi way chances are there isn't much that's going to appeal to anyone if you tell them how the parts came to be parting out.  See what the insurance will give you- my roommate totaled his 696 about 2 months ago and the insurance uses 3 price quotes from dealerships in the general area.  In his case it turned out that he got 99% of the price he paid back, helmet paid for, the only thing he didn't recoup was the setup fee the dealer charged- in CA they even paid him back for the sales tax of about 800$.  Same thing happened with my 695.  My advice is to let it go unless you plan to ride it.  If the frame is damaged at all I would walk away, take ur money and run. 

"DO NOT" sell the bike to the insurance co. After my acc. my company gave me the option they pay full value and take bike or I keep bike and they pay prorated value. I choose first option and totally regret it. The bike was not in that bad of shape but they saw the rear tail ( the one everyone chops) it was bent. therefor not fixable. If I happens again(god forbid) I will keep the bike at all cost. People on this forum and others are always looking for parts. You will most definately make more then the insurance comp. is willing to pay.

It also depends on wheather you have the cash to pay the difference, no one will finance a wrecked bike. You will have to give the ins. co. a check instead of them giving you one.

Can't decide to let the insurance co. keep it or buy it back until you know what they want for it.  They wanted $1750 for my '99 750 last summer w/ a cracked frame.  I possibly could have gotten that and a little more out of it if I parted it out but it would have taken a lot of time and effort and I would have been months getting my money so it wasn't worth it to me but every case is different depending on the condition of the bike and parts and $ offered