As most of you know I crashed in early July and Megson Fitzpatrick decided to write my bike. There was no frame, swing arm, or fork damage at all, but when you add up the cost of all the little bits (expensive bits mind you) plus labour it exceeded their limit to repair.
But I learned a few things along the way that I thought some of you might like to know about.
When you sign up with MF, and you have a relatatively new bike, you can opt for their "Limited Depreciation" option which reimburses you for full replacement value of your bike for a three year period. Basically what you paid for the bike including taxes. The only catch is that you only have one choice for a deductible at $1000. Belive me it was worth every penny.
Michael Megson encouraged me to include (by that I mean "add to") the declared value of the bike (what I paid) all the modifications I had made to the bike. I totalled up the receipts (a surprising bit of math for those of you who haven't done it) and added them to the purchase price of the bike. Megson also suggested i include my gear (which I did). The extra cost for the insurance premium to include all of this was still less than what I woudl have paid if I went 100% through ICBC. Again, it was worth every penny.
I crashed on a Saturday, called MF on Monday, had my bike towed to my "Shop of Choice" on Monday. Turns out MF has their own Motorcycle only adjuster located right here in Burnaby. He showed up Tuesday at the shop, I handed over all my rashed gear, and by Thursday he had made the decision that it was a write off.
Now ING underwrites the policy sor from here on I dealt with them. Called the ING adjuster and negotiated to buy my bike back. I played the "I'll make your life easier not having to deal with bidders etc." and just outright asked him what he wanted for the bike. I offered him 10% less than his offer. Within an hour I had wone the bike back.
One week to the day I called MF I had a check in my hand for my total claim, less my $1000. deductable, less the buyback price of the bike.
6 weeks rebuilding and customizing later I call MF to renew my insurance. This is the only bad part about dealing with ING. ING will not insure bikes that have a "rebuild" status. Bummer, but in the end it was a very positive experience.
Oh, and one more thing. I was able to do most of my communications with ING via eMail. Try getting an email address out of an ICBC adjuster!