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(01-25-2019, 01:25 PM)suhawk305_imp Wrote: Welcome Honda Fan.
Just curious, if this bike is a ‘14 Standard with a VIN ending with 0998, it is the one I crashed during March 2017. If I remember, my bike had about 200 miles on it. The damage you described sounds the same, but my insurance company still totaled the bike. Best of luck with your decision.
BTW: I live 60 to 70 miles Northwest of NYC. Nice area to ride!
Small (CB1100) world.
(01-25-2019, 01:59 PM)pekingduck_imp Wrote: A salvage titled bike will always be worth less because a prospective new owner never really knows how bad the damage was - light damage as you say, or into a wall at 60mph and a bent frame.
It also can't be insured for collision, or financed by a bank/credit union. Also, if the bike is under warranty or has a very suspicious problem, the manufacturer will look at the NICB website and see if it is salvaged. (https://www.nicb.org/how-we-help/vincheck)
A salvage title means that an insurance company determined that it would cost more than a certain percent of the value of the bike to return it to the way it was. The insurance company sets the rate, usually 60% - 75%.
On a 2013 CB1100, whose retail bluebook is probably around $5000, that means allocating $3000- $3750 to the repair, including parts, labor, storage, towing, etc.
My 2013 slid out on a low speed right turn at around 30-35 mph. No front impact, no damage to the wheel/forks/frame/engine, no bodily injury.
A scuff on the tip of the fender, a scuff on the headlight rim, the right side of the gauges scraped but still functional, scrapes on the underside of the exhaust that you had to crawl underneath to see and that don't bother me. The low bars with bar end mirrors bent and put a crease in the tank.
Just these 3 areas were enough to total it:
gas tank - $1100
muffler - $896
meter assy (the 4 main pieces) $1250
What I'm getting at is that it doesn't take much to total a bike these days. So your bike may be perfectly fine after some cosmetic repairs, like mine was. My bike was totalled by the insurance company, but because the owner chose to keep the scuffed exhaust and do the labor himself, he kept it from being a total on the title.
This may be true in some states but not all. My college-age son "totaled" a 2004-model car last year in an extremely mild, low-speed rear-ender. The car in front had no damage but his car had bumper and hood damage. The estimated cost to repair was over 75% of the vehicle's value, so it was totaled by the insurance company. They gave me blue book for it and I bought it back from them for $400 with a salvage title. Spent less than they gave me having it fixed. I then applied for a "rebuilt" title which admittedly was an onerous exercise in modern American bureaucracy, but at the end of the process the car is once again fully insurable.
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(01-26-2019, 11:37 AM)Stichill_imp Wrote: (01-25-2019, 01:25 PM)suhawk305_imp Wrote: Welcome Honda Fan.
Just curious, if this bike is a ‘14 Standard with a VIN ending with 0998, it is the one I crashed during March 2017. If I remember, my bike had about 200 miles on it. The damage you described sounds the same, but my insurance company still totaled the bike. Best of luck with your decision.
BTW: I live 60 to 70 miles Northwest of NYC. Nice area to ride!
Small (CB1100) world.
(01-25-2019, 01:59 PM)pekingduck_imp Wrote: A salvage titled bike will always be worth less because a prospective new owner never really knows how bad the damage was - light damage as you say, or into a wall at 60mph and a bent frame.
It also can't be insured for collision, or financed by a bank/credit union. Also, if the bike is under warranty or has a very suspicious problem, the manufacturer will look at the NICB website and see if it is salvaged. (https://www.nicb.org/how-we-help/vincheck)
A salvage title means that an insurance company determined that it would cost more than a certain percent of the value of the bike to return it to the way it was. The insurance company sets the rate, usually 60% - 75%.
On a 2013 CB1100, whose retail bluebook is probably around $5000, that means allocating $3000- $3750 to the repair, including parts, labor, storage, towing, etc.
My 2013 slid out on a low speed right turn at around 30-35 mph. No front impact, no damage to the wheel/forks/frame/engine, no bodily injury.
A scuff on the tip of the fender, a scuff on the headlight rim, the right side of the gauges scraped but still functional, scrapes on the underside of the exhaust that you had to crawl underneath to see and that don't bother me. The low bars with bar end mirrors bent and put a crease in the tank.
Just these 3 areas were enough to total it:
gas tank - $1100
muffler - $896
meter assy (the 4 main pieces) $1250
What I'm getting at is that it doesn't take much to total a bike these days. So your bike may be perfectly fine after some cosmetic repairs, like mine was. My bike was totalled by the insurance company, but because the owner chose to keep the scuffed exhaust and do the labor himself, he kept it from being a total on the title.
This may be true in some states but not all. My college-age son "totaled" a 2004-model car last year in an extremely mild, low-speed rear-ender. The car in front had no damage but his car had bumper and hood damage. The estimated cost to repair was over 75% of the vehicle's value, so it was totaled by the insurance company. They gave me blue book for it and I bought it back from them for $400 with a salvage title. Spent less than they gave me having it fixed. I then applied for a "rebuilt" title which admittedly was an onerous exercise in modern American bureaucracy, but at the end of the process the car is once again fully insurable.
Small (CB1100) world.
(01-25-2019, 01:59 PM)pekingduck_imp Wrote: A salvage titled bike will always be worth less because a prospective new owner never really knows how bad the damage was - light damage as you say, or into a wall at 60mph and a bent frame.
It also can't be insured for collision, or financed by a bank/credit union. Also, if the bike is under warranty or has a very suspicious problem, the manufacturer will look at the NICB website and see if it is salvaged. (https://www.nicb.org/how-we-help/vincheck)
A salvage title means that an insurance company determined that it would cost more than a certain percent of the value of the bike to return it to the way it was. The insurance company sets the rate, usually 60% - 75%.
On a 2013 CB1100, whose retail bluebook is probably around $5000, that means allocating $3000- $3750 to the repair, including parts, labor, storage, towing, etc.
My 2013 slid out on a low speed right turn at around 30-35 mph. No front impact, no damage to the wheel/forks/frame/engine, no bodily injury.
A scuff on the tip of the fender, a scuff on the headlight rim, the right side of the gauges scraped but still functional, scrapes on the underside of the exhaust that you had to crawl underneath to see and that don't bother me. The low bars with bar end mirrors bent and put a crease in the tank.
Just these 3 areas were enough to total it:
gas tank - $1100
muffler - $896
meter assy (the 4 main pieces) $1250
What I'm getting at is that it doesn't take much to total a bike these days. So your bike may be perfectly fine after some cosmetic repairs, like mine was. My bike was totalled by the insurance company, but because the owner chose to keep the scuffed exhaust and do the labor himself, he kept it from being a total on the title.
This may be true in some states but not all. My college-age son "totaled" a 2004-model car last year in an extremely mild, low-speed rear-ender. The car in front had no damage but his car had bumper and hood damage. The estimated cost to repair was over 75% of the vehicle's value, so it was totaled by the insurance company. They gave me blue book for it and I bought it back from them for $400 with a salvage title. Spent less than they gave me having it fixed. I then applied for a "rebuilt" title which admittedly was an onerous exercise in modern American bureaucracy, but at the end of the process the car is once again fully insurable.
Stichill, no doubt you're right about that. 50 states, 50 different policies. Many states do not issue a rebuilt or reconstructed title. Makes you wonder what happens when a "rebuilt" or "reconstructed" title vehicle is sold in a state that only has two options - "clear" or "salvage".
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(01-26-2019, 02:00 PM)pekingduck_imp Wrote: (01-26-2019, 11:37 AM)Stichill_imp Wrote: (01-25-2019, 01:25 PM)suhawk305_imp Wrote: Welcome Honda Fan.
Just curious, if this bike is a ‘14 Standard with a VIN ending with 0998, it is the one I crashed during March 2017. If I remember, my bike had about 200 miles on it. The damage you described sounds the same, but my insurance company still totaled the bike. Best of luck with your decision.
BTW: I live 60 to 70 miles Northwest of NYC. Nice area to ride!
Small (CB1100) world.
(01-25-2019, 01:59 PM)pekingduck_imp Wrote: A salvage titled bike will always be worth less because a prospective new owner never really knows how bad the damage was - light damage as you say, or into a wall at 60mph and a bent frame.
It also can't be insured for collision, or financed by a bank/credit union. Also, if the bike is under warranty or has a very suspicious problem, the manufacturer will look at the NICB website and see if it is salvaged. (https://www.nicb.org/how-we-help/vincheck)
A salvage title means that an insurance company determined that it would cost more than a certain percent of the value of the bike to return it to the way it was. The insurance company sets the rate, usually 60% - 75%.
On a 2013 CB1100, whose retail bluebook is probably around $5000, that means allocating $3000- $3750 to the repair, including parts, labor, storage, towing, etc.
My 2013 slid out on a low speed right turn at around 30-35 mph. No front impact, no damage to the wheel/forks/frame/engine, no bodily injury.
A scuff on the tip of the fender, a scuff on the headlight rim, the right side of the gauges scraped but still functional, scrapes on the underside of the exhaust that you had to crawl underneath to see and that don't bother me. The low bars with bar end mirrors bent and put a crease in the tank.
Just these 3 areas were enough to total it:
gas tank - $1100
muffler - $896
meter assy (the 4 main pieces) $1250
What I'm getting at is that it doesn't take much to total a bike these days. So your bike may be perfectly fine after some cosmetic repairs, like mine was. My bike was totalled by the insurance company, but because the owner chose to keep the scuffed exhaust and do the labor himself, he kept it from being a total on the title.
This may be true in some states but not all. My college-age son "totaled" a 2004-model car last year in an extremely mild, low-speed rear-ender. The car in front had no damage but his car had bumper and hood damage. The estimated cost to repair was over 75% of the vehicle's value, so it was totaled by the insurance company. They gave me blue book for it and I bought it back from them for $400 with a salvage title. Spent less than they gave me having it fixed. I then applied for a "rebuilt" title which admittedly was an onerous exercise in modern American bureaucracy, but at the end of the process the car is once again fully insurable.
Small (CB1100) world.
(01-25-2019, 01:59 PM)pekingduck_imp Wrote: A salvage titled bike will always be worth less because a prospective new owner never really knows how bad the damage was - light damage as you say, or into a wall at 60mph and a bent frame.
It also can't be insured for collision, or financed by a bank/credit union. Also, if the bike is under warranty or has a very suspicious problem, the manufacturer will look at the NICB website and see if it is salvaged. (https://www.nicb.org/how-we-help/vincheck)
A salvage title means that an insurance company determined that it would cost more than a certain percent of the value of the bike to return it to the way it was. The insurance company sets the rate, usually 60% - 75%.
On a 2013 CB1100, whose retail bluebook is probably around $5000, that means allocating $3000- $3750 to the repair, including parts, labor, storage, towing, etc.
My 2013 slid out on a low speed right turn at around 30-35 mph. No front impact, no damage to the wheel/forks/frame/engine, no bodily injury.
A scuff on the tip of the fender, a scuff on the headlight rim, the right side of the gauges scraped but still functional, scrapes on the underside of the exhaust that you had to crawl underneath to see and that don't bother me. The low bars with bar end mirrors bent and put a crease in the tank.
Just these 3 areas were enough to total it:
gas tank - $1100
muffler - $896
meter assy (the 4 main pieces) $1250
What I'm getting at is that it doesn't take much to total a bike these days. So your bike may be perfectly fine after some cosmetic repairs, like mine was. My bike was totalled by the insurance company, but because the owner chose to keep the scuffed exhaust and do the labor himself, he kept it from being a total on the title.
This may be true in some states but not all. My college-age son "totaled" a 2004-model car last year in an extremely mild, low-speed rear-ender. The car in front had no damage but his car had bumper and hood damage. The estimated cost to repair was over 75% of the vehicle's value, so it was totaled by the insurance company. They gave me blue book for it and I bought it back from them for $400 with a salvage title. Spent less than they gave me having it fixed. I then applied for a "rebuilt" title which admittedly was an onerous exercise in modern American bureaucracy, but at the end of the process the car is once again fully insurable.
Stichill, no doubt you're right about that. 50 states, 50 different policies. Many states do not issue a rebuilt or reconstructed title. Makes you wonder what happens when a "rebuilt" or "reconstructed" title vehicle is sold in a state that only has two options - "clear" or "salvage".
Good question. Does "rebuilt" become "clear" or "salvage"? My guess is...clear.
Title laundering? 
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I’m finding this discussion really interesting—probably because I’ve never really thought about it.
If I’ve got it right from this conversation, the decision to write off a vehicle is made by an insurance company entirely in financial grounds. No consideration is apparently given to whether the vehicle could be repaired and operated safely.
I suspect that’s because the cost of assessing, for example, whether a motorcycle’s frame has been damaged is significant and should not really be trusted to anyone other than a regulator. On one level, it makes sense that taxpayers are not burdened with this cost; on another, in a world where waste and dealing with it is a serious issue, it seems crazy to declare something unsafe to repair just because it’s cheaper for an insurer not to fix it.
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(01-26-2019, 03:50 PM)Cormanus_imp Wrote: I’m finding this discussion really interesting—probably because I’ve never really thought about it.
If I’ve got it right from this conversation, the decision to write off a vehicle is made by an insurance company entirely in financial grounds. No consideration is apparently given to whether the vehicle could be repaired and operated safely.
I suspect that’s because the cost of assessing, for example, whether a motorcycle’s frame has been damaged is significant and should not really be trusted to anyone other than a regulator. On one level, it makes sense that taxpayers are not burdened with this cost; on another, in a world where waste and dealing with it is a serious issue, it seems crazy to declare something unsafe to repair just because it’s cheaper for an insurer not to fix it. Yes, it is all a matter of money for the insurance companies. Some totalled vehicles can be inexpensively repaired, some not so. Sometimes it's all cosmetic fairing parts from sliding down the road. Sometimes it's an oncoming car that turned in front of the bike. Every accident is different.
The totalled bikes are usually taken by the insurance company and are auctioned off. The easily/cheaply repaired totals get resurrected and re-emerge as salvage or rebuilt titled bikes. The really bad ones become parts donors.
Bent frames were infrequent, but usually easy to detect from the other damage. It takes some practice, but it's not rocket science. As a service manager years ago, I wrote many hundreds of estimates. In some shops, the mechanic writes it, or the insurance company sends out their own adjuster (or a contracted independent).
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NY issues rebuilt/salvage titles after they go through inspection which then can be registered and insured. Just to make sure I did a quote with this bikes vin and they quoted me $112 for annual liability insurance and $600 full coverage. I would say majority of bikes that are dropped while ridding get written off immediately and the trick is just finding cosmetically damaged ones for a good price.
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In some cases, the salvage sometimes contains an echo of the rider's soul.
If one believes in energy transference, two will meet in the destination bike.
(don't mean to get all spooky and such)
(just respect of our fellow riders)
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I knew a guy who laid down a VTX 1800 when a school bus pulled out in front of him (he must've been daydreaming; hard to believe a school bus could surprise you). Overall the bike wasn't all that bad. Cosmetically the gas tank was damaged, but the most serious problem was a fat wiring harness that was abraded all the way through. That was the thing that caused the repair estimate to go through the roof and the bike was totaled. The local dealer bought the bike from the insurance company for pennies on the dollar, spliced the bundle back together, fixed it up with idle shop labor and parts purchased at wholesale and sold it for a tidy profit.
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That's great. Anything to help avoid unloved parts going into environment waste too.
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I pulled the trigger and bought it. Mechanically it rides perfect cosmetics only few bits to make brand new looking. Now I need another key because it came with only one, tank pad and some LED turn signals. Anyone got recommendations? Price was too good and I figured this could be my beater around town bike that lost its value already so no worries
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