Rear Ended - Insurance Time

[Dee Hubbs]

Super PRO points for matching the color of the glitter in your Stans to the color of your bike frame!

[RootSkier]

A friend of mine recently had his bike stolen off his car, lock on hitch rack was cut. It was 11 months old, custom build. Insurance took 50% depreciation.

Definitely a very open ended situation, I've heard of things going this way or no questions asked instant MSRP value cash.

I would bet money that it varies significantly by state. Some states are insurance friendly and some are not. Someone also told me that some adjusters aren't complete fucking douches, but I am pretty skeptical about that.

[::: :::]

when i had a bike stolen, i had the option of taking cash or replacing the bike

the value that would be paid out varied by the option chosen

if i wanted cash, they depreciated the list of items

if i wanted to replace it, they credited the purchase price with proof of original purchase &/or serial number for verification

seemed fair to me

[Danno]

Someone also told me that some adjusters aren't complete fucking douches, but I am pretty skeptical about that.

I can state with certainty that Peruvian isn't a complete fucking douche.

[Peruvian]

I can state with certainty that Peruvian isn't a complete fucking douche.

Thanks for the ringing endorsement.

[jm2e]

I'd like to hear how this ultimately turns out.

Ha Ha. Yea, me too! Honestly, I've been to busy riding and working to talk to anyone about this except for a few buds and my good ole internet friends. As far as this lot goes, I expect a good heaping of douchebagery at times, but TGR threads are more likely to be full of great info and insight at the same time. Hearing the negative side of this is just as helpful as the positive side, as long as no-one makes me cry.

[stuckathuntermtn]

Could be worse....

Yeah, you could always have a fender on your bike like it's 1995.


ZING!

[Touring_Sedan]

Yeah, you could always have a fender on your bike like it's 1995.


ZING!

Shut it, you fat fucking beater.

[ghosthop]

I always find it funny that the incessant fender comments serve to reinforce the idea that stuckie doesn't ride bikes at all.

But please, carry on.

[stuckathuntermtn]

d00d, everything creaky has ever said about me is real.

[Peruvian]

So - how's it going jm2e?

[muted]

I had a bike on the back of my rack totaled, due to a faulty Thule that made my bike fall off (technically my fault). I gave a depreciated estimate based on some Google research, and I got a check no questions asked. No purchase receipts asked for, no inspection of the totaled bike asked for. Unfortunately there was only 2 parts worth scavenging, the rest was crumpled like Benny loading a beginner lift.

I guess my point is, it all depends on what personality insurance adjuster you get. Mine was lazy and therefore awesome.

[grskier]

The only other thought I've had re-looking at this is that some places may actually not ticket as the driver with the bike may be obscuring the view of their tail/brake lights.

[jm2e]

Still waiting for insurance to drag out. Between work and vacation and "spare" bikes, I've had the luxury of not hammering forward on this.
Insurance companies are stupid and horrible at communicating. They don't care if the car doesn't get touched for months apparently.
They seem pretty hung up on the idea of "pain and suffering" apparently. Fucking crazy. Quick trip to the doctor to make sure bumps and scrapes are okay and now the adjusters are talking about settlement. Who designs an industry that tries to avoid paying for objectively broken shit, but obsesses over doling out money to any dickhead who claims he's got a stiff neck or a boner that won't go away. One scenario I was given was "well if they don't agree to pay for a bike maybe you can just make it up in Pain and Suffering" This world is fucked.

[beaterdit]

Could be worse....

Holy fuck d00d! When did that happen??? Maybe if I still rode bikes I would have known.

A friend of mine recently had his bike stolen off his car, lock on hitch rack was cut. It was 11 months old, custom build. Insurance took 50% depreciation.

Definitely a very open ended situation, I've heard of things going this way or no questions asked instant MSRP value cash.

I think one of the distinctions is the identification of a liable party. A bike gets stolen and there's no one to go after so your own insurance is on the line for the payout with no one but you to advocate for yourself. Someone destroys your property and is at fault, your agent goes after their insurance company with a lot more knowledge than you have.

Shut it, you fat fucking beater.

Hahahahaha!

[Peruvian]

With all due respect, evdog is speaking from experience and he had his shit replaced at full value. My own insurance company has told me over and over again through the years that my shit is insured at full replacement value. Most people in here have dealt with their insurance companies over the years and found that they just don't give a fuck about depreciating personal items other than cars. I'm sure it's different with industrial machinery and livestock, but again, with all due respect, unless you work for an insurance company or you have a personal anecdote to share, YOU have no idea what you're talking about.
For what it's worth, MY insurance company is dealing with Everything. Getting the car fixed, getting quotes on what bike/rack parts need to be replaced, car rental, etc. Then they are going to shove that bill up the other insurance companies ass. That's pretty much what my guy told me, other than the "shove" part and the "ass" part.

I thought your insurance company was dealing with Everything?

[jm2e]

I thought your insurance company was dealing with Everything?

Touche'

[stuckathuntermtn]

Shut it, you fat fucking beater.

Would you say you lost your bike in a fender bender?

[Touring_Sedan]

Holy fuck d00d! When did that happen??? Maybe if I still rode bikes I would have known.

It happened at sometime in June. Some stupid fucking cunt was texting and driving. Of course I had just spent half a day taking care of routine maintenance and getting her cleaned up. Murphy's Law.

She's since been replaced.

[Vt-Freeheel]

Nice

[retirwntm]

^^^What he said

[stuckathuntermtn]

That's a beauty!

[jm2e]

Just thought I'd update this for the sake of future generations. Wanted to give some time before posting in case of the 1,000,000:1 chance the adjuster is trolling our forums.
Got a letter from my mechanic listing each part he thought was compromised in the accident. Stated that failure of any compromised components could result in injury or death given the intended use of the bike.
He separated the parts that were visibly and obviously damaged from the ones he deemed potentially compromised like carbon parts, laterally loaded bearings and the frame itself. Then I made a list of the purchase date of each component and its MSRP.
I had two brief conversations on the phone with the other guys insurance. They pretty much took my mechanic at face value, asked for no photos, questioned nothing. Offered me depreciated value of every part based on an arbitrary life span of 10 years. Full value for the frame. Check in the mail.
I specifically asked them if they wanted my mechanic to ship them the damaged bike. The guy checked with his salvage department and said I could keep it.
Sure, I came out ahead, but figure this is small potatoes for them and it would suck ballz if 6 months from now the frame ends up with a crack or something else pops up and then I'm stuck with it.

[MakersTeleMark]

What was his carrier?

[jm2e]

Rhymes with mall bait