Holy Sh*t is crashing ever expensive!!!
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Thread: Holy Sh*t is crashing ever expensive!!!

  1. #1
    Chumpman
    Guest

    Exclamation Holy Sh*t is crashing ever expensive!!!

    k, not sure what to do now...

    finally heard from the estimator from my seymour crash, apparently i didn't do anything to seriously damage the bike. All the important stuff like frame, subframe, engine, steering are in perfect condition, but i managed to put a good scratch on every possible other part (grip, cowls, windscreen, fairings, passenger seat, foot pegs, tank, tank guard, signals, switches, cables (snapped the handle bar), levers, crank cover, etc... Parts alone will be $6800, then there's labour, tax, my gear (mainly the helmet)...

    There's also physio, chiro, ambulance, meds... but my work's medical coverage will take care of that.

    If i make a claim, i'll lose $500 from the deductable, and my insurance goes up by $4500 (it's already $2700) and I lose my 25% discount...

    If I claim and then sell the bike, the same insurance hit gets carried over to my car...

    Suggestions? I'm gonna get an exact quote next week... gonna hafta decide soon

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  3. #2
    Deer magnet Array Prez's Avatar
    Join Date
    Jun 2002
    Location
    Vancouver
    Bike
    sold - borrowing my wife's CBR
    If it were me, I would fix all the mechanical stuff, and forget about anything cosmetic. The cost of the deductable and hike in insurance is just too much. Ride it with the battle scars, but maybe do some back yard garage touch-ups to make it more presentable. It would really suck if you got it all fixed up, and dropped it again a week later.

    Ride it until the wheels fall off, and forget about the resale value.

    Just my 2 cents.
    Last edited by Prez; 08-28-2003 at 05:26 PM.
    Every day I break my previous record of consecutive days still alive.

  4. #3
    It was worth the wait Array Teknic's Avatar
    Join Date
    Nov 2002
    Location
    Westside
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    None.
    I would say take the hit, consider the bike lost, dont make a claim because your half way to your 40% and the insurance will eventually get all the 6800$ back plus some.

    You say the bike is in perfect condition frame, engine, stuff like that, so just peice it back together, think what you NEED to ride it and what other stuff is just pretty stuff.

    Or you could part it out.

  5. #4
    T-Rat
    Guest
    Wow, sucks to be you........sorry.

    I really don't know what to tell you I'd say your screwed both ways. One thing I'd check into is the insurance may only be connected to the plate and might not carry over to your other vehicle, but I don't know for sure. Good luck

  6. #5
    You gotta lean into it! Array InvisibleSoul's Avatar
    Join Date
    Jun 2003
    Location
    Vancouver
    Bike
    Kawasaki Ninja Silver ZX1R Pocketbike (Matching ZX6R Stolen)
    $6800 for parts?!?! Holy crap.

    Damn, that's an ugly situation.

    Uh... so you're saying your annual insurance base is $2700, which you'd pay $2025 with the 25% discount, and if you make the claim, it will go up to $7200 and you'd have to pay the full amount?! Or do you mean it will go up TO $4500? I think the latter sounds more reasonable... don't think even ICBC rapes that hard.

    I think you'll be better off not making the claim. Think you'll end up paying more in the long run if you do... because you'll be paying more for at least the next... what, 8 years? Don't know exactly how you would calculate it, but I would hasten to guess the difference would be significantly more than $6800. And also... if by bad luck, you happen to get into another accident in the next few years with your car or whatever, if you claim this one now and have to claim the next one, your rates will go through the stratosphere.

    And if you decide not to claim it, I'm sure you could get a better repair for your buck... I mean, if it's gonna cost $6800 for parts plus who knows how much for labour, even if you decide to sell the bike, you might be better off maybe spending $3000 on your own to fix up the most important stuff, you'll get a better return...

    Basically, say you spent $7500 to fix it up to as-new condition, if you sell, would get no more than $10k probably? $2500 difference.

    But if you spent $3000 to fix it to decent condition (perfect mechanical order, but not cosmetically), I think you should be able to fetch... say even $7500... which would be a $4500 difference... which means you just saved $2000.

    The more I think about it, the more inclined I am to say DON'T claim it.
    Last edited by InvisibleSoul; 08-28-2003 at 05:43 PM.

  7. #6
    glowing ghostie! Array gordopolis's Avatar
    Join Date
    Mar 2002
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    Vancouver
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    I have kids
    Turn it into a track bike? Or sell it to someone who will?

  8. #7
    Rock bottom here I come Array Dalma's Avatar
    Join Date
    Aug 2003
    Location
    Vancouver
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    2002 Honda VFR800
    I'll bet you have close to 1000.00 in labour as well.

  9. #8
    wasabi
    Guest
    It's not worth claiming it, take your bike back do some repair by your self look at my bike it's been thru a rough time the last 3 month. Save up some money and buy after market stuff it would be way cheaper.

  10. #9
    You gotta lean into it! Array InvisibleSoul's Avatar
    Join Date
    Jun 2003
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    Vancouver
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    Kawasaki Ninja Silver ZX1R Pocketbike (Matching ZX6R Stolen)
    Yeah, listen to wasabi... he knows!

  11. #10
    Wanderer of the Wastes Array DNAspark99's Avatar
    Join Date
    Apr 2002
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    השטן שב
    Bike
    MONSTEROSITY
    definately do not even approach ICBC with this, unless you like oozing asstroglide...oh, wait...they don't use lube.

    do not even consider restoring your bike using store bought brand new plastic-princess OEM parts.

    spend all winter scrounging for aftermarket parts where applicable. remember the thing with crashed bikes:
    things you can't fix, you replace. things you can't replace, you fix

    use your head and be flexible and creative. it may never look 'mint' again. so make it custom.
    if all the basics are sound then the bike will still shake your bag, track or stunt
    "I dread beyond all else the growth of the petty tyranny of restrictive legislation, the transference of disciplinary authority from the judiciary to the constabulary, the abandonment of every constitutional safeguard of individual liberty."

  12. #11
    Motorbikegirl
    Guest
    OUCH...hope you're feeling better from the crash.

    I'd say save the money for another bike and in the mean time, ride the bike to the ground!

    Cheers

  13. #12
    Registered User Array evo-blade's Avatar
    Join Date
    May 2002
    Location
    Vancouver, BC
    Bike
    CBR9 '98
    If the bike is in good running condition and there is only cosmetic damage then don't claim it... The ICBC hit is not worth it. Remember you only get 5% discount per year now not 10% so it'll take you 5 years to get you're discount back to what you have now. If you plan to keep your bike, fix the cosmetic damange when you have the $$$. Look into aftermarket parts to replace the OEM. You'll find that they are often cheaper and better quality. Check e-bay!!! there's always good deals for used parts!! You take a big hit when you're at fault with ICBC!!!

  14. #13
    You gotta lean into it! Array InvisibleSoul's Avatar
    Join Date
    Jun 2003
    Location
    Vancouver
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    Kawasaki Ninja Silver ZX1R Pocketbike (Matching ZX6R Stolen)
    As for the insurance base rate hike, does anyone know how that works? When does it go back down and stuff?

  15. #14
    [Oo=vw=oO] Array GTI's Avatar
    Join Date
    Feb 2002
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    Vancouver
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    2001 R6 Red
    5 years to get back to your 25% discount...not worth it. Get the bike road worthy would be good.

  16. #15
    AliMouse
    Guest
    u can repaint the bike --> cutom paint job... <1000

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