I totalled my bike, help needed. - BMW Luxury Touring Community
 
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post #1 of 26 Old Aug 12th, 2009, 6:09 pm Thread Starter
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I totalled my bike, help needed.

I got into an accident last week and am on con leave now. Well it is an 05 with 24k miles and they deemed it totaled and are trying to give me NADA of $10.5k. We all now I can't buy one for that, so any help on this is appreciated. I have been on Cycle Trader. Any more tips and links to 05's is great. Thanks

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post #2 of 26 Old Aug 12th, 2009, 6:38 pm
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Re: I totalled my bike, help needed.

Sorry to hear about the crash.

There's a 2005 on ebay right now in IL with a buy it now of 11.3.

There's also a gold one from MaxBMW. It is probably too much, their site says $14.9 so the reserve is probably $13.9. That's in NH so more accessible to VA.

Maybe ebay's not your thing, but I just got my 2003 from MaxBMW and it was a good experience.

Good luck.

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post #3 of 26 Old Aug 12th, 2009, 6:52 pm
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Exclamation Re: I totalled my bike, help needed.

Quote:
Originally Posted by PrimePower
I got into an accident last week and am on con leave now. Well it is an 05 with 24k miles and they deemed it totaled and are trying to give me NADA of $10.5k. We all now I can't buy one for that, so any help on this is appreciated. I have been on Cycle Trader. Any more tips and links to 05's is great. Thanks

see this thread:
http://www.bmwlt.com/forums/showthread.php?t=47028

i totalled my '05 in May 09 and had to refuse State Farm twice before they came up with a better offer. don't take the first offer if it offends you, i didn't.

tell your insurance company to do more research, and get you more money.

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post #4 of 26 Old Aug 12th, 2009, 7:08 pm
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Re: I totalled my bike, help needed.

Sorry man. I don't know if the west coast is too far for you, but check craig'slist in the "San Francisco area". That's where I found mine (LT, that is) and I've seen several red hot prices ( or at least they appear to be ). Usually about every 2 or 3 months.
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post #5 of 26 Old Aug 12th, 2009, 7:16 pm
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Re: I totalled my bike, help needed.

Never take their first offer...play up the Farkles you have added and show them the high prices being asked for replacements.

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post #6 of 26 Old Aug 12th, 2009, 7:27 pm
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Re: I totalled my bike, help needed.

Get on E-Bay and look at the "completed auctions" for K1200LT's. These are actual E-Bay sales of LT's. Show the actual documentation of sold LT's to your insurance company; they can't really argue with bonafide sales as opposed to NADA book value which is nothing more than a poll of dealer's best guesses of what a vehicle might sell for.

Quote:
Originally Posted by PrimePower
I got into an accident last week and am on con leave now. Well it is an 05 with 24k miles and they deemed it totaled and are trying to give me NADA of $10.5k. We all now I can't buy one for that, so any help on this is appreciated. I have been on Cycle Trader. Any more tips and links to 05's is great. Thanks
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post #7 of 26 Old Aug 12th, 2009, 7:40 pm Thread Starter
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Re: I totalled my bike, help needed.

Thanks for all of your help. I tried the ebay and it only brought up 4 05's, 2 of which didn't sell. I meet with them on friday and have 5 listings off cycletrader all going my way. Well see. I mean, what is my recourse though. Do I have to take them to court if they refuse to go up? That would be more costly. Thanks

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post #8 of 26 Old Aug 12th, 2009, 8:24 pm
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Re: I totalled my bike, help needed.

Well, I logged on to NADA and got 12,300 as the average retail for the 2005 LT with all the standards checked. Like ABS, cruise, fairing, bags, truck ect.
So tell them to try again, they are about 2K low on there offer and that before covering any extras for you.

Good Luck

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post #9 of 26 Old Aug 12th, 2009, 8:35 pm
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Re: I totalled my bike, help needed.

Remember the check will be the Total amount LESS your deductable. So... What is your Deductable? That may be part of the reason for a LOWER check amount.

Stevie Shreeve
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post #10 of 26 Old Aug 12th, 2009, 8:43 pm
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Re: I totalled my bike, help needed.

see if you can find a good replacement.. tell them.. "put it in my driveway".
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post #11 of 26 Old Aug 13th, 2009, 9:29 am
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Re: I totalled my bike, help needed.

Don't forget to add your safety gear,
(depending on your insurance company)

State Farm replaced my helmets
but would not pay for mesh jackets etc.


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post #12 of 26 Old Aug 13th, 2009, 9:54 am
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Re: I totalled my bike, help needed.

What insurance do you have? I totalled my bike a couple of months ago. The insurance company (Dairyland) didn't give me as much for the bike as I wanted, but they did use the price for a comparable bike from the local BMW dealer (BMW Motorcycles of Atlanta) and added the cost of farkles depreciated for the age of the bike. I argued with them about this (unsucessfully) because the farkles weren't as old as the bike. They paid me for my helmets and riding gear at replacement cost less depreciation. Reasonable I thought. They also reimbursed me over $300 for towing.

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post #13 of 26 Old Aug 13th, 2009, 12:10 pm
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Re: I totalled my bike, help needed.

Quote:
Originally Posted by PrimePower
I got into an accident last week and am on con leave now. Well it is an 05 with 24k miles and they deemed it totaled and are trying to give me NADA of $10.5k. We all now I can't buy one for that, so any help on this is appreciated. I have been on Cycle Trader. Any more tips and links to 05's is great. Thanks

according to your post in June when I totalled my bike, you had purchased this one for $11.5k or so within the "last month". why is $10.5k out of line considering your purchase price? did you add any additional farkles?

May 29th, 2009, 11:54 pm
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Re: 2005 Lt State Farm offer on Total

--------------------------------------------------------------------------------
I agree thats low and I hope you get what you want. But I purchased my 05 a month ago and paid $11.5k
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post #14 of 26 Old Aug 13th, 2009, 3:12 pm Thread Starter
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Re: I totalled my bike, help needed.

Good question. I did add farkles but I'm not adding that in, that is under a separate policy. I find it irrelevant what I paid. If I paid $20k or $11.5k they still are going to offer the same amount. I believe I found a great deal (on ebay) and it is not about what I paid but what it is worth. I found five on cycletrader and going off of them with my mileage $13.5k is fair. I don't believe it matters what I paid and if I get a deal or get hosed it makes no difference come time to sell.

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post #15 of 26 Old Aug 13th, 2009, 5:42 pm
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Re: I totalled my bike, help needed.

I hate to rain on anyone's parade, but I think that you will have a difficult time getting much more for the bike when there are several on E-bay that are comparable in mileage and model year going for great 'buy it now' prices.

I bought my house at a great price 3 years ago. The county feels that it's worth $80k more than I paid for it. I doubt that the current market will draw the county's price should I attempt to sell it. I would be happy to get what I paid for it.

Un-like a house, most vehicle insurers do not operate on replacement costs and simply go by the book value. I think that your best option would be to throw the amount of your deductible at them by way of cashier's check and demand that they deliver one to your driveway within one week.

http://cgi.ebay.com/ebaymotors/BMW-K...Q5fmotorcycles

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post #16 of 26 Old Aug 13th, 2009, 6:07 pm Thread Starter
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Re: I totalled my bike, help needed.

I didn't see that one. But $11.5k is the buy it now. Better than $10.5k. Do I have the option of them finding me a suitable replacement? I am considering the Victory Vision for a few reasons.

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post #17 of 26 Old Aug 13th, 2009, 6:51 pm
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Re: I totalled my bike, help needed.

Well, that's a different story. You may need to take the cash if you're switching teams. Nobody totals a Porche and asks the insurance company to buy them a Honda. You would be setting an unwelcome precedence. Next thing you know, the insurance companies will be parking mopeds in our driveways when they total out our luxury tourers.

Nobody blames you for trying to get as much as you can for your bike, I'm just pointing out that your bike can be replaced for nearly the same amount that they are offering you if you still want to go that route.

In no way should you expect the insurance companies to fully fund a purchase of a newer make and model bike just because you felt that the BMW was a greater value. They won't do that.

Good Luck

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post #18 of 26 Old Aug 13th, 2009, 7:26 pm
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Re: I totalled my bike, help needed.

Quote:
Originally Posted by PrimePower
Good question. I did add farkles but I'm not adding that in, that is under a separate policy. I find it irrelevant what I paid. If I paid $20k or $11.5k they still are going to offer the same amount. I believe I found a great deal (on ebay) and it is not about what I paid but what it is worth. I found five on cycletrader and going off of them with my mileage $13.5k is fair. I don't believe it matters what I paid and if I get a deal or get hosed it makes no difference come time to sell.

I "chose" to take the SF offer of $12,862.50 and apply that to a new '09 LT. I still had to pay the difference on the 20k+. all I am saying is that they (the insurance co.) will only get you so far on but not over NADA/BB value.

BTW, I had 72,000 miles on my '05, bought brand new in Sept of '04.

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post #19 of 26 Old Aug 13th, 2009, 7:56 pm Thread Starter
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Re: I totalled my bike, help needed.

Quote:
Originally Posted by mconlogue
I "chose" to take the SF offer of $12,862.50 and apply that to a new '09 LT. I still had to pay the difference on the 20k+. all I am saying is that they (the insurance co.) will only get you so far on but not over NADA/BB value.

BTW, I had 72,000 miles on my '05, bought brand new in Sept of '04.
I had about 24k on mine, so if you got $12.8k I think $13k is fair. I'm not asking them to get me a Victory. I was asking can I request them to get me a BMW of the same year and similar? I didn't know that was an option.

I didn't say why I crashed, but to be nice I need a bike with more legroom and the Victory has it. I loved my BMW and it ruined my day when I was told it was totaled. I got almost no sleep last night. But I need a bike with more legroom without lowering the pegs. I am going to school for about the next year and it is imperative to my career I pass. So I am debating on waiting 1-1.5 years before buying a bike again. Don't know if I can wait that long, but this crash made me realize it can happen any time and my career cannot afford that. I cannot miss any school time for any reason. Plus by waiting the Victory gets ABS plus a few other upgrades from the current version. Don't get me wrong, love the beamer but it may not be the best for me. I'll know more tomorrow when I go sit on a Victory just to get the feel. Thanks for all of the help, I have enjoyed this club. You never know, I might see one for a steal and be right back into it.

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post #20 of 26 Old Aug 13th, 2009, 10:17 pm
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Re: I totalled my bike, help needed.

Quote:
Originally Posted by PrimePower
Good question. I did add farkles but I'm not adding that in, that is under a separate policy. I find it irrelevant what I paid. If I paid $20k or $11.5k they still are going to offer the same amount. I believe I found a great deal (on ebay) and it is not about what I paid but what it is worth. I found five on cycletrader and going off of them with my mileage $13.5k is fair. I don't believe it matters what I paid and if I get a deal or get hosed it makes no difference come time to sell.
You may be able to remove the farkles you added and sell them separately. They are not part of the bike, unless they are a replacement piece (such as a custom seat) and you no longer have the original to put back on for the insurance.

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post #21 of 26 Old Aug 14th, 2009, 10:09 am
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Re: I totalled my bike, help needed.

Try Cycletrader.com also. I have the same bike, 05 lt with 24k on it. Sorry about you crash, good hunting!
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post #22 of 26 Old Aug 14th, 2009, 10:53 am Thread Starter
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Re: I totalled my bike, help needed.

I go to meet with the insurance today. After I show them higher priced similar bikes, if they dont budge what are my options?. Thanks

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post #23 of 26 Old Aug 14th, 2009, 11:17 am
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Re: I totalled my bike, help needed.

I can't tell you how to handle it..

For me, I would "walk softly and carry a big stick".. If you think worth taking to court, that might be a "stick"....

Respectful dialog usually wins.... but, keep your "options" open... you only want them to put you back where you were before the accident..... so, let them buy the replacement.... That is the contract you have with them.
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post #24 of 26 Old Aug 14th, 2009, 4:14 pm
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post #25 of 26 Old Aug 17th, 2009, 9:41 am
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Re: I totalled my bike, help needed.

When my wife totalled her car a few years ago, the insurance adjuster tried to low ball me. So we haggelled for a week over the small sum that he offered. Finally He and I were trying to come to terms when I made the comment of (This sounds like a BAD FAITH offer). Well in about 15 minutes He come up to the amount that I stood my ground on and wrote the check out. I hope this helps with your negotiations. You don't have to take what they offer, Their job is to pay as little as possible.
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post #26 of 26 Old Aug 17th, 2009, 7:55 pm Thread Starter
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Re: I totalled my bike, help needed.

I came prepared last friday thanks to this club and brought evidence that their offer is low. Should have a counter by wednesday. Purchased an 09 Victory Vision tour premium over the net. Should have it in about 3 weeks. I liked the bmw but couldn't get it to fit me safely. This is a great club for a great bike. I appreciate all the help I received here and hope I contributed a little. I'll keep my eye out on the road for you guys.

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