The CB1100 Community Forum

Thank you everyone for your suggestions. I spent the last few days making numerous phone calls, arguing with my insurance company, and talking to people who have knowledge of the insurance claims process. Jim, (tinboatcapt), you nailed it. Will866 and MTC are right, however, my insurance company would not budge! I found out that repair shops considers my insurance a pain in the a$$. Name of the insurance company? Perhaps I should not say. If I were to give a hint, it could be like this: fill in the blanks.... North Dakota is a beautiful _____ in the US. Cows, hayfields, barns are found in a dairy ______.

What I learned, Honda Finance considers my CB total loss and they no longer consider the bike as an asset. They do not care what I do with the CB, however, I have to pay my loan off.

Once my insurance company classified my CB as a total loss, there is no going back regardless of the damages (see Jim's post).

If I salvage the bike, I would be about $6K in the hole after the insurance payment (minus the salvage value of $1.6K) is issued. That is before I do any $ work on the CB. In NYS, I would have to get a special inspection before I can title the CB again. That title is called a "Salvage Title" which would reduce the trade-in value or sale value of the CB. Off course, a few years from now, that decreased book value would not make much of a difference.

If I withdraw my insurance claim, I believe I still have to satisfy my loan balance (I need to verify that).

This is what surprised me: If I let the bike go as a total loss, I would have to come-up with between $1.8K to 2.8K to satisfy the loan. What I originally overlooked; I will get a refund for my Honda Care extended warrantee and a NYS required loan gap coverage. When I finally got someone at Honda Finance who knew what he was talking about, I was told that it is likely I will get at least $1K, probably closer to $2K gap coverage (based on his experience with several total lose claims). When I asked him why the gap does not totally cover the loan balance, he stated gap covers only the bike. Gap does not cover sales tax, dealer fees, accessories I added, NYS registration fees, etc. that were paid for in the loan.

Questions remain whether my dealer can come-up with a reasonable deal for another 2014 CB1100 STD and my wife does not find out I may be putting out more $ for a replacement bike. Of course I will not directly lie to her, but not tell her all for those boring financial details! As long I do not spend our money that is set aside for the final phase of home remolding, she will be happy. BTW, a Honda Dealer in Baltimore, MD had three new 2014 CB1100 STD listed for $6.3K (plus fees I am sure). I called today and they were all sold.

jimgl353: that picture is a post crash photo. It is hard to see damage at that distance. The bike was not that hurt. Here is a closer photo view:
[url=http://s1380.photobucket.com/user/suhawk305/media/100_3890_zps8p8xdekh.jpg.html]
I will report back with the final outcome, hopefully by the end of next week.

Are the meters still functional? If so, you'll only need to replace the main cover ($75) and the tach cover ($18) and not the entire meter assembly ($680). [url=http://www.hondapartshouse.com/oemparts/a/hon/52f28be9f870021404ec5a33/meter]Link

I'm sorry about this entire experience suhawk.

(04-29-2017, 08:24 PM)curlyjoe_imp Wrote: [ -> ]Are the meters still functional? If so, you'll only need to replace the main cover ($75) and the tach cover ($18) and not the entire meter assembly ($680). [url=http://www.hondapartshouse.com/oemparts/a/hon/52f28be9f870021404ec5a33/meter]Link

I'm sorry about this entire experience suhawk.

Great suggestion, When I drove the CB from the crash site, the instruments worked.
IF I keep my CB, I will consider this option, and also list of the parts I need in the Forum Classifieds.

Have you considered making a deal with a company that sells used parts? Wouldn't hurt to find out what they would pay you for your bike for parts.

Suhawk, Sorry to hear about your spill. Glad you're feeling better and that you are thinking through all the possible options on what to do. God bless you and your wife. Russ

(04-30-2017, 06:27 AM)Nortoon_imp Wrote: [ -> ]Have you considered making a deal with a company that sells used parts? Wouldn't hurt to find out what they would pay you for your bike for parts.

Nortoon, thanks for the suggestion. The problem is the CB's NADA book value dropped significantly compared to what I paid November 2016. Even if I sold my CB at current book value, I still would be below the loan balance.

(04-30-2017, 09:03 AM)cooldrum_imp Wrote: [ -> ]Suhawk, Sorry to hear about your spill. Glad you're feeling better and that you are thinking through all the possible options on what to do. God bless you and your wife. Russ

Hi Russ! Good to hear from you! Thanks for the kind words. BTW I got the 305 CB77 Superhawk apart right now (carbs ultrasonic cleaning, new handlebars, wiring, etc.). Poor timing, I would be riding it now.
Still have your CL77?
Mike

wow, don't know that I would even involve insurance in a crash that light.

Very sorry to read all of this, Suhawk. It might not make a financial difference, but I'd switch insurance companies on general principle.

I've done that

Despite having 26 accident free years of motorcycling experience with the same insurance company, my bike insurance was almost the same as my Impala LTZ. The Impala is 7 times more expensive than the bike. I only ride the bike on quiet rural roads about once a week during a 6 month riding season. My wife drives the car everyday summer and winter in city traffic.

Insurance premiums calculations are based on historical accident coverage costs. The difference between the two policies in the injury coverage. That make sense a we are far more likely to be injured in an bike accident than a large steel and glass cage.

Given that this motorcycle has been in an accident, the insurance company is looking at the repair cost, your accident history, their adjuster's costs should they be required, and safety concerns should this bike be repaired improperly. It's all about risk and cost.

I had a flat rear tire caused by a nail. I was 1 1/2 hours from home and the tire only had 6,000 kilometers on it. None of the garages in the area would install a plug in the rear tire of a motorcycle because of the risk involved. I left the nail in, re-inflated the tire and limped home. I spoke to my Honda dealer and they also were reluctant to install a plug. It was also expensive given the labour involved. I had the tire replace for my own peace of mind. Cost versus risk.