07-15-2022, 02:10 AM
Very sorry to hear about your crash and to see the damage to your CB1100. Glad to hear that you're already looking ahead at your next bike. I'll give you my perspective as a former claims adjuster, turned private accident evaluator.
First of all, I'm going to assume that the offending driver will be found at fault, and that their insurance will be compensating you. Also assuming that the bike is a total loss, and that your goal is to obtain the best possible settlement figure for the value of the bike. I won't get into the bodily injury portion of your claim, although I'm assuming that you are planning to pursue compensation for your injuries. That is a separate component of an insurance claim from the loss of the motorcycle.
The insurance company will either value the bike based on "Book Value", using KBB or a similar source for valuation, or determine a value based on comparable CB1100 bikes currently for sale in your region. Here's where it gets interesting.
With the current weirdness that we're seeing in the used vehicle market, the book value of a 2013 CB1100 is not necessarily indicative of what they are currently worth in the real world. It's also doubtful that there is a bounty of comparable 2013 CB1100s for sale to compare your bike to. Due to the relative rarity of the CB1100 in the U.S., it is arguably a collector bike, and should be evaluated as such for its value. The insurance company may assign a special evaluator, rather than just a regular property claims adjuster to your case due to the specialty of the bike. If not, I would strongly make the argument that the bike is a collector's item. It was only imported to the U.S. for three separate years, in small numbers, and values of this model are increasing.
Also, if any accessories that you've added to the bike will stay with it when the insurance company totals and acquires the bike, you'll want to document those items for additional compensation value. Don't expect to get full retail value for things like racks, lights, etc, but they should add something to the value determination. If you're going to take these items off of the bike to install on your next CB1100, make sure you get access to the bike to remove them.
There is the option of buying back the totaled bike from the insurance company, either to part out the good parts and make more money for them than you paid for the salvage, or to repair and put the bike back on the road. In that second option, a salvage title will follow the bike (or at least I'm assuming, based on your state) which will affect its future value.
Good luck, and let us know how everything goes. Heal up, and hope to see you back on two wheels soon.
First of all, I'm going to assume that the offending driver will be found at fault, and that their insurance will be compensating you. Also assuming that the bike is a total loss, and that your goal is to obtain the best possible settlement figure for the value of the bike. I won't get into the bodily injury portion of your claim, although I'm assuming that you are planning to pursue compensation for your injuries. That is a separate component of an insurance claim from the loss of the motorcycle.
The insurance company will either value the bike based on "Book Value", using KBB or a similar source for valuation, or determine a value based on comparable CB1100 bikes currently for sale in your region. Here's where it gets interesting.
With the current weirdness that we're seeing in the used vehicle market, the book value of a 2013 CB1100 is not necessarily indicative of what they are currently worth in the real world. It's also doubtful that there is a bounty of comparable 2013 CB1100s for sale to compare your bike to. Due to the relative rarity of the CB1100 in the U.S., it is arguably a collector bike, and should be evaluated as such for its value. The insurance company may assign a special evaluator, rather than just a regular property claims adjuster to your case due to the specialty of the bike. If not, I would strongly make the argument that the bike is a collector's item. It was only imported to the U.S. for three separate years, in small numbers, and values of this model are increasing.
Also, if any accessories that you've added to the bike will stay with it when the insurance company totals and acquires the bike, you'll want to document those items for additional compensation value. Don't expect to get full retail value for things like racks, lights, etc, but they should add something to the value determination. If you're going to take these items off of the bike to install on your next CB1100, make sure you get access to the bike to remove them.
There is the option of buying back the totaled bike from the insurance company, either to part out the good parts and make more money for them than you paid for the salvage, or to repair and put the bike back on the road. In that second option, a salvage title will follow the bike (or at least I'm assuming, based on your state) which will affect its future value.
Good luck, and let us know how everything goes. Heal up, and hope to see you back on two wheels soon.