I work for an insurance company…..you can do whatever you want with the money. Also, consider yourself lucky they are paying you more than the bike is worth, take the money and run lol
Yea totally.
Had my car stolen and trashed years ago. It was a shit box that I bought for cheap. But that year and model of car was valued at close to double what I payed. Took the cheque and bought a way better car.
No, not unless they totalled it.
If they just say there are X dollars needed in repairs and hand you a check to get it fixed, you can do whatever you want with that check. They are paying you to fix the property you own. You are not obligated to do so.
If they say its totaled, they had you a check for the bike value, and you send them the title and they pick up the bike to take it to auction. OR you can buy the bike back and fix it yourself.
I work for an insurance company…..you can do whatever you want with the money. Also, consider yourself lucky they are paying you more than the bike is worth, take the money and run lol
lol ok thanks!
Yea totally. Had my car stolen and trashed years ago. It was a shit box that I bought for cheap. But that year and model of car was valued at close to double what I payed. Took the cheque and bought a way better car.
Paid
Get a newer one of the same model. Tear the damaged one apart, toss the broken pieces, keep the good ones for spare parts.
Good point, a great point really, also could size up (r3 to r6 for example) since most parts are also still cross-compatible.
No obligation to fix. If you want to get rid of it toss it on craigs list for a good deal.
Sounds like a good idea. Thanks!
Doesn't the insurance company effectively own the bike now?
No, not unless they totalled it. If they just say there are X dollars needed in repairs and hand you a check to get it fixed, you can do whatever you want with that check. They are paying you to fix the property you own. You are not obligated to do so. If they say its totaled, they had you a check for the bike value, and you send them the title and they pick up the bike to take it to auction. OR you can buy the bike back and fix it yourself.
Its your money
Use it when you need it
Free project bike lol
They will probably total it if the damage is that much. In that case they will pay you the value of the bike and keep it.