FZ6R Wasted


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EsrTek

New Member
Called a lawyer, they will review and get back to me if they can help...They seem to think injury report from ambulance at scene might be enough to establish minor injuries that didn't particularly require hospital treatment.
I want my bike repaired (doubt that) or enough to get another bike after they pay this one off.
No offense to our bikes, but I kinda want a less top heavy bike w/ better suspension, if I get another.
 
M

MNGreg

waiting out winter
Elite Member
Unfortunately, all the insurance company is really required to do under the law is give you the fair market value (KBB basically) of you bike/car whatever... The other insurance company (defendant) MIGHT be more likely to try to appease you by giving a little more for your bike, but you wont get a new bike.

I got screwed the same way when I had a BRAND NEW car and was t-boned by a red light runner... I was left upside down on the loan - only thing that helped is I had gap insurance from the lender. So I had to go apply for credit on a new car again..

Lawyers MIGHT be able to help, but if you only have minor injuries, they might not even be worth it. Be VERY VERY leary of what they say. Yeah, most dont collect anything unless they win. BUT, if they win, many times they will take around either 40% of what they win for fees, or they will take an hourly rate (which will still take a lot of your reimbursement). So If you are going to get (lets say) $5000 for your bike from your insurance - that is good. You better make sure that the lawyer could get you OVER $12,000 in settlement from the opposing company..

Can you guess why?! Ok, from that $12,000 you would get roughly $7,000 for yourself. BUT ALSO from that winnings, you will actually pay taxes on that $12,000 settlement; not just the $7k you got after legal fees.

Also, you bring in lawyers, they bring in their lawyers. Suddenly your Dr that said there was x issues with the ankle, etc.. starts getting forms to fill out almost weekly. Gets very annoying for the Dr. (after said car accident, my vision dropped by over 1 full point each eye, when I had just had the annual eye exam 2 weeks earlier).
*disclaimer - my wife and I went through legal recourse after my above stated car accident and then also after an illegal loss of job. Employer let us go when issue was covered by FMLA. That is how I have experience with this issue.
 
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EsrTek

New Member
Thanks.. I am aware how lawyers rip off clients, that's why I'm hoping to not involve them.
Like you said, they might not even take my case. I'm just hoping since Ins has accepted liability, they don't try to screw me.
 
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Rabbitman109

Lumen Junkie
Elite Member
Glad that you walked (or limped) away. That could have been much worse. At least you had someone that admitted they were at fault, instead of trying to say that you were in the wrong.
 
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EsrTek

New Member
Heya all.. finally able to get back to PC (sitting at desk made ankle swell).
I appreciate all the kind words and thoughts, much love back at you all!!!

As for me, my ankle was a 3rd degree sprain, w/ a small hairline fracture.
Ankle is almost back to normal now, still some swelling in certain spots, shoes hurt it more, but I can walk at least again.

The bike is totaled, they paid it off and I got about $1k including gear replacements.
I, sadly still w/o a job, can not afford another bike. My bank won't finance me, knowing I been out of work 3 mos (once I have income they will). However, their payoff early method cost me more, about 600$, then what my loan total was, so may not go w a Credit Union again for loan.
So, in meantime I am debating the type of bike I want to get...might just get that cbr600F I've always wanted. However, that will be awhile it seems, as most my income taxes going to have to go towards back bills :(
At least it gives me time to decide lol...

Anyway just wanted to thank everyone again and give a lil update. I will be sticking around, but being w/o a bike, and this forum makes me want to go ride. I'll be poppin in to chk messages and new post, but probably won't be posting much.
 
B

BKP

New Member
Glad to hear you're healing ok... and the injuries are minor...

I don't know what your process was, whether they are totaling the bike, are paying you a requisite amount to fix it.
However in many states (including mine) there's such a thing as "Diminished Value compensation." This means, the other insurance company would need to cover an additional amount to you, since the bike is relatively new, and if you were to re-sell it, it would have a diminished resale value having been in an accident.

Again, I'm not sure if it's valid in your state (not all states do it), or what the laws say about a motorcycle. When I had a relatively new Altima, and it was backed into by a 17 yo, I collected an additional $3,500 *after* the other insurance company paid to fix my car. You might want to look into it. Most major insurance companies have a "Diminished Value" organization within their claims dept. to address this. It's worth a phone call, and is just a matter of asking for that department, and giving them the claim #. If they do it, they'll make you an additional (typically lowball) offer.
Just a thought...

Good luck --
 
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VRIIClubby

New Member
glad to hear that you are mending well mate!

Insurance is F*(&*^!!!!

IN Aus we are prob a little luckier with new bikes etc, If I write my bike off I get an identical one back :) One positive but still inthe negative here for the riders!

I had a claim investigated on one of my cars along time ago, the arsewipe insurance bloke kept ringing my then GF (3-4 times a day) just to "chat". I then got a job at said insurance company and fixed that up real quick...lol...

(getting a job there was more coincidence than going out of my way to find the ****tard) but geez it was rewarding when I got to say "hi".

bets of luck with your continued recovery, I hope winter's to come dont hurt ;)
 

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