suhawk305's bike

suhawk305

suhawk305

Road warrior
Thread starter
Back in Post 171 of this thread, I reported my first significant ride to a bridge. On my way home, I slid off of the road damaging my CB11. Fast forward to almost a month later, I waited for over 20 days for my local Honda dealer to send my insurance company a repair estimate. Then several days later (today), my insurance company totaled my CB!!! The big items were a new instrument cluster, head light, handlebars with every attached to its right side, fuel tank, muffler, and a lot of scratched up parts. Estimate = $5.7K. The bike is not that bad! :@

I pleaded with my insurance company to drop items, like the muffler, to reduce the repairs below the total loss threshold. I was told it was too late.

Unfortunately, what my insurance company is paying is well below my loan balance. I am weighing my options over the next couple of days.

Now to the thread theme, here is a picture of my CB "gathered" with broken bikes, trade-in's etc. behind my Honda dealer's building. Sorry I cheated, I did not ride my CB there for the picture. The CB has only 204 miles on the odo.



Farewell to my CB1100, VIN 100998, that was meant for me (my Postal Zip Code 10998).
 
suhawk, that's sad news indeed. I'm very sorry to hear of the loss of your CB. The insurance company's unwillingness to do a deal with you about a payout seems very strange to me. What have they got to lose?

I take it that you're OK after the accident.
 
Oh man, that stinks Suhawk. Stinks I tell you. Did you tell the ins co there was a lien on the bike in excess of repair estimate? Can't believe they won't work with you on that.
 
What parts do you need- give us an exact list!!

I have a spare set of bars, spare grips, spare mirrors, spare muffler, spare engine side covers, spare blinkers, a spare seat, spare rear shocks...

Regardless of what your insurance company tells you- you do have the right to buy it back if they total it-, you can negotiate the buyback amount as well.

Hell, depending on what your deductible is, you can deny coverage at all so you don't pay a deductible- and just fix it yourself!
 
Sorry t hear about the accident. I hope you are okay. The totaling of the bike and being left with a loan balance is a tough situation.

If you can do the repair work yourself. I would ask to buy it back.


Sent from my iPad using Tapatalk Pro
 
Thread starter
Thanks guys, Tomorrow, I will be busy looking at my options. I understand Honda Finance has "Gap" coverage. I have to verify it to see I have it, and whether it will cover (most of) my upside-down loan situation.

Josh and Elipten, you brought up an option to consider! However, the fuel tank at $973, and instrument cluster at $944 would have to be purchased new.

I am doing well, most of the bruising and soreness are gone. I was lucky.
 
Yikes the parts are expensive. Search ebay and bike breakers. I can live with dents and scratches for $1k!

And to be honest there are low mileage bikes at that price available.


Sent from my iPad using Tapatalk Pro
 
You also need to look at the on-line parts houses. For example, at partsfish the tank is $811 and the meters $616.71.
 
One possible alternative to the stock instrument cluster is this: Koso BA035K00 Black TNT-01 Multifunction Speedometer Amazon.com: KOSO BA035K00 Black TNT-01 Multifunction Speedometer : Automotive

I'm still waiting for the right time to hook mine up. I believe another member here used it in his cafe racer project. Besides being a tachometer, it's also includes a speedometer, odometer, trip meter, fuel gauge, clock, voltage, shift light, and indicator light.

Of course if you just want the stock look, then all this is moot
500215b54dff92b04f1a0a45505a2bcd.png



Sent from my iPhone using Tapatalk
 
Man that sucks Suhawk..! Hopefully you can work something out with the insurance company. Fingers are crossed for you.!

If you figure out away to keep or buy the bike back. Keep an eye on classifieds, I believe my 2014 tank will be on there soon.
 
You really don't need to take the insurance companies first offer. Explain to them that this was a mint condition low miles bike and not some beaten up thing on Craig's list. Tell them you need more than the pay off figure. Don't allow them to move the bike from your dealer until you have an agreement. Dealer may be charging them $20 a day storage so that puts pressure on them. Once you get them to pay the max then tell them it's not enough but if they throw in the totaled bike you will take it. They should also be paying your original sales tax so that should help too.
 
I don't know if will866 is an insurance professional, but I am and he is spot on in his advice. I would only add that the key to your situation may well lie in what the "gap coverage" provision in your loan says. If you are able to up your insurer's settlement offer a little and there is gap coverage in place, you will probably be in a very good position to get another 2014 and only have to finance a very small portion of the cost. Of course, this is assuming that the market price for a 2014 std is less now than it was when you bought yours.

So, negotiate in the manner that will866 suggested and confirm the terms of the gap coverage. Then you have to decide whether you want your old bike back or if you want to get a new one. Good luck.
 
Note MTC is an insurance professional
 
EmptySea_imp said:
I don't know if will866 is an insurance professional, but I am and he is spot on in his advice. I would only add that the key to your situation may well lie in what the "gap coverage" provision in your loan says. If you are able to up your insurer's settlement offer a little and there is gap coverage in place, you will probably be in a very good position to get another 2014 and only have to finance a very small portion of the cost. Of course, this is assuming that the market price for a 2014 std is less now than it was when you bought yours.

So, negotiate in the manner that will866 suggested and confirm the terms of the gap coverage. Then you have to decide whether you want your old bike back or if you want to get a new one. Good luck.
Click to expand...
Thanks. I have worked in insurance for a very long time although no one ever accused me of being professional. Hate to see anyone take a loss on something they paid good premium for.
 
I wrote several estimates of repair on damaged bikes for the insurance claim At the time I was a representative of a motorcycle importer (not Honda). The insurance adjuster usually wanted a thorough list to try to total the bike. I was told by one adjuster they didn't want the liability of a bike that was not 100% restored. Especially if there was evidence, or a chance, of frame or steering damage.

Some states require a flagged title that the bike has been salvaged. The VIN number will carry that note unless retitled in a state that doesn't note salvage. I rebuilt a totaled BMW K100 by picking up off Ebay a clean title frame and transferring all the stuff from the totaled bike to it. A little difficult to do with a bike as new as a CB11. But it can be done to re-title a totaled bike. The repaired bike carries the VIN of the clean title frame.
Take a look at your state laws before proceeding with a rebuild, then make a decision.
Jim
 
You must log in or register to reply here.

Similar threads

rdprdp01
2019 West Coast Rally Plans (Recreation)
Replies
0
Views
330
rdprdp01
rdprdp01
S
'91 - '03 750 Nighthawk longevity & high mortality parts? Other thoughts. Long post.
2
Replies
23
Views
2K
Ollie
Ollie
Cormanus
The Cormanus Chronicles: Remembering Jake and Elwood
2 3
Replies
59
Views
5K
Cormanus
Cormanus
F
CB1100 goes to Guzzi Rally...belated ride report
Replies
7
Views
801
Nachodaddy
Nachodaddy
G
Before and After Part 2!
2
Replies
26
Views
2K
gman_imp
G
Back
Top