4 Ways to Get what you Deserve after a Motorcycle Wreck
After a wreck, the insurance company is likely to offer a settlement that’s incredibly low. Sometimes their initial offer is so low it would be a funny joke… if the stakes weren’t so high. A personal injury claim is one thing, but what if you need to maximize your property damage claim after a motorcycle wreck?
You have to prove the amount of your loss. Often insurance adjusters will greatly diminish the value of your equipment so they don’t have to pay out as much. The Car Crash Captain lays out four steps to making sure that your claim is paid to a maximum.
4 Ways to Maximize Your Property Damage Claim
Let’s be clear up front, this isn’t a way to manipulate the system. This isn’t a method to receive a million bucks when your bike is only worth a thousand. This is to ensure that you’re not out a financial loss if you have to replace the motorcycle you know and love.
Ensure Proper Motorcycle Valuation
There are numerous ways to value your property. Insurance companies will take the quickest and easiest, but most of them don’t fully understand how this valuation process works. This is especially true if you have upgraded and customized your bike.
Keep good track of how much the parts cost for your motorcycle, and how much time you have invested installing them. This valuation will be critical to recover if you have an adjuster that doesn’t understand you need compensated for both the parts and the time you put in.
Always Use OEM Parts
If your motorcycle wasn’t a total loss (check out our previous blog about determining a total loss), you have the right to replace OEM (original equipment manufacturer) parts with other OEM parts. There are some body shops that will try to reduce costs by using aftermarket parts; make sure you specify that you want original parts replaced with original parts.
Some auto body shops will always use OEM parts, others will use after market unless you request otherwise.
Be Willing to Stand up for Yourself
Years ago I had recently tinted the windows on my car. After I was in a collision that totaled the vehicle, I sent in the receipt for window tinting; somewhere around $250. The insurance company raised the amount they would pay for the car by $80. I knew there was no way the window tinting depreciated that much in a matter of a few months, and I argued that I’m suffering a financial loss due to no fault of my own. We went back and forth, and settled on an increase of $200.
If I hadn’t stood up for what I knew the value of my vehicle was, I would have received less than what my vehicle was actually worth.
Have Two Numbers in Mind
We know what our motorcycles are worth. The insurance company is very likely going to make an initial settlement offer that’s much lower than what we feel will reasonably replace a damaged or destroyed bike. To combat this, one of your best negotiation tools is to have two numbers in mind.
Being well prepared to show the value of your motorcycle and the amount of loss is key here. Then, you can approach the situation like this. Suppose your bike is valued at $40,000. But the insurance company is only offering $25,000. You prove that the value is $40,000 and then say that you’re willing to accept $35,000 (or whatever number you feel is still fair) so this process doesn’t get dragged on any longer than necessary.
Come to Herbert Law Group for Personal Injury Help
When you’re dealing with a motorcycle property damage claim, there’s not a lot that a personal injury attorney can help you with; calculating replacement costs is fairly straightforward.
But if you have been injured in that wreck as well, then you absolutely need a motorcycle wreck attorney on your side. You have more important things on your plate (like recovering), so let the experts at Herbert Law Group handle that for you.