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Thread: Salvage Value

  1. #16
    apriliaforum expert MamboItaliono's Avatar
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    Luckily we have a grossly inflated overvalue here for some reasons, bikes cost a few thousand more new and used

    The shop quote came in at $10,500, so as was said here I am going to be pushing for a higher valuation of the bike, at 70% that means I need to be valued at $15,000.00 OR as said earlier push for the cosmetic total loss vs mechanical salvage

    Otherwise look at items I am willing to waive to bring the estimate closer to $9,000 for an easier negotiated market value of about $12,000

    But either way I am glad to have better information and knowledge before the insurance company reviews the quote and makes a decision that I would otherwise have had no idea how to proceed

  2. #17
    apriliaforum expert MamboItaliono's Avatar
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    Ok so final update, just got off the phone with State Farm - Once they made the total loss determination, there was no way to undo it according to them

    BUT based off what was discussed here I was able to ask for a higher pre-damage actual cash value

    AND I was able to ask them to lower the owner retention salvage value from 40% to 25%

    I am ok with the final numbers, and I'm glad I was able to ask those questions from an informed standpoint instead of just being mad at their numbers. They were actually super cool about reconsidering both values and reaching a settlement we could both agree on

  3. #18
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    Quote Originally Posted by MamboItaliono View Post
    Ok so final update, just got off the phone with State Farm - Once they made the total loss determination, there was no way to undo it according to them

    BUT based off what was discussed here I was able to ask for a higher pre-damage actual cash value

    AND I was able to ask them to lower the owner retention salvage value from 40% to 25%

    I am ok with the final numbers, and I'm glad I was able to ask those questions from an informed standpoint instead of just being mad at their numbers. They were actually super cool about reconsidering both values and reaching a settlement we could both agree on
    Nice.....(cough, cough), so what were those numbers?
    Current rigs:

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  4. #19
    apriliaforum expert MamboItaliono's Avatar
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    Quote Originally Posted by motoracerx View Post
    Nice.....(cough, cough), so what were those numbers?
    lol - I don't have the workup on me right now but in approximation it was
    ACV: $12,600.00
    Salvage value: $3,200.00

    Check total Approx: $9,400.00

  5. #20
    apriliaforum expert ToraTora's Avatar
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    Quote Originally Posted by MamboItaliono View Post
    Ok so final update, just got off the phone with State Farm - Once they made the total loss determination, there was no way to undo it according to them
    Actually it is possible. I have done it successfully, and with what I got out of them I was able to purchase my 899 (and four other bikes), but it did take me about two years of effort. Sorry I didn't see this sooner, or I would have alerted you. Again, these people are not your friend. They will mislead you, and tell you things that are just absolutely not true.

    By law they cannot salvage the bike until the value has been determined, and a repair estimate has been made. If they don't follow these steps, and salvage the bike then you have them by the nards.

    Insurance companies have made me suffer a lot. But every time they do I learn. You need to have patients with these cats. They will lie to you, go back on their agreements, and pretend to have not seen things you've sent. If you hang in there you can wear them down. Playing the long game can produce positive results, but yeah for sure one's time is valuable too, and they use that against you. Most people just capitulate, so they really don't have the tools to deal with people that have and employ tenacity.

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