Insurance made an offer.. worth it? - Page 5

katoranger · 04-24-2008, 03:12 PM

I think that he is dealing for the bike, but it doesn't hurt to suggest a lawyer.

Usually in the case like this you have two claims. One for the vehicle and one for the injuries.

Allen

motohillbilly · 04-24-2008, 03:13 PM

I have employed a lawyer.He says i should be several hundred thousand richer by the end of this. This settlement is just for the bike. Injury and punitive damages are seperate.

katoranger · 04-24-2008, 03:14 PM

I would go for the full amount plus the bike then.

Allen

Cal25 · 04-24-2008, 03:17 PM

I think I would just run it by your lawyer. He will have the most experiance on what should be expected. I think at this point I would let them keep the bike unless they offer it for quite a bit less.

culcune · 04-24-2008, 03:19 PM

Plus, think about how much they are saving (you are saving them :wink: ) that she hit this bike over a much more expensive bike, or a car. I was under the impression that you get your vehicle for 10% of the value (i.e. $1200 bike should only cost you $120). Even if the 10% deal is what your own insurance company offers you, another party's insurance should not even blink at the (alleged) MSRP that some of these sites claim, i.e. Hooperimports has the GY-2 at $2199--the insurance company should not be reaping the rewards of a deal that you got, especially as the bike was brand new!

http://www.hooperimports.com/dept.aspx?dept_id=19

Print and show them other sites' MSRP's for the GY-2, too.

SpeedSouth · 04-24-2008, 03:21 PM

Yes, if I were told I to expect that kind of money, then I don't really think the bike would matter too much to me.

If you're willing to keep it and part it out for the guys here, it would be a nice gesture...and you could basically accept any deal that allows you to do that.

But I'll still say...take all you can get! (and make that lawyer earn his cut!)

knothead · 04-24-2008, 05:04 PM

I just wonder if there is anything worth salvaging one you get past the forks. That had to be a hard lick, did it push the swingarm into the back of the engine case? (there's only about 1/4" between them, on my Lifan anyway), how about the internals... crank, gears etc... could have been bent in the impact. Not saying it is, but things tend to give way under that kind of stress.

But I don't think $1200 is enough, I'd go for every dime I had in it and just skip keeping the bike. I darn sure wouldn't give them $500 for it!

You've done the right thing by lawyering up, I'd have NO mercy after getting hit by a darn drunk! :twisted:

motohillbilly · 04-24-2008, 05:11 PM

I think with a new swingarm, and maybe a wheel the bike would be ok. The tail piece behind the seat is trashed. Motor is fine tank is fine electronics are fine bars are fine controls are fine. Its the swingarm . I think the lower frame is ok too.

rob6262 · 04-24-2008, 05:45 PM

Motohillbilly,

I'm an adjuster in Houston, and have a few questions. Did the insurance company explain how they got the the value of your bike? There is no way they will get $500 in salvage for the bike at auction. I know the china bikes are cheap, but you did assemble and license it correct?
The real big deal is that the driver was drunk. This opens all kinds of problems for the insurance company, as they are responsible for punitive damages. I would take the offer and let them retain salvage. You will be way ahead after punitive damages are paid.

Rob

04-24-2008, 06:04 PM

I know it's easy to get all wound up when ya start thiking about Lawyers,Lawsuits,And dollar signs!

Insurance is in place so we can get back what we lost!

I think I would be happy with a return of my full purchase price!!

Not, Money plus the bike! You had one new bike when it happend,You should have one new bike when it's over.....

As far as pain and suffering and the like, Priceless!!!! Get all you can...

04-24-2008, 03:12 PM	#61
katoranger Join Date: May 2007 Location: Altamont, Kansas Posts: 15,103	I think that he is dealing for the bike, but it doesn't hurt to suggest a lawyer. Usually in the case like this you have two claims. One for the vehicle and one for the injuries. Allen __________________ You meet the nicest people on a Honda Clone.
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04-24-2008, 03:13 PM	#62
motohillbilly Join Date: Mar 2008 Posts: 118	I have employed a lawyer.He says i should be several hundred thousand richer by the end of this. This settlement is just for the bike. Injury and punitive damages are seperate. __________________ 2007 LF200GY5
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04-24-2008, 03:14 PM	#63
katoranger Join Date: May 2007 Location: Altamont, Kansas Posts: 15,103	I would go for the full amount plus the bike then. Allen __________________ You meet the nicest people on a Honda Clone.
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04-24-2008, 03:19 PM	#65
culcune Join Date: May 2006 Location: Yuma, Arizona Posts: 9,055	Plus, think about how much they are saving (*you* are saving them :wink: ) that she hit this bike over a much more expensive bike, or a car. I was under the impression that you get your vehicle for 10% of the value (i.e. $1200 bike should only cost you $120). Even if the 10% deal is what your own insurance company offers you, another party's insurance should not even blink at the (alleged) MSRP that some of these sites claim, i.e. Hooperimports has the GY-2 at $2199--the insurance company should not be reaping the rewards of a deal that you got, especially as the bike was brand new! http://www.hooperimports.com/dept.aspx?dept_id=19 Print and show them other sites' MSRP's for the GY-2, too. __________________ "They say that life's a carousel, spinning fast you got to ride it well..." TGB Delivery Scooter 150 TMEC 200 Enduro--carcass is sadly rotting in the backyard
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04-24-2008, 03:21 PM	#66
SpeedSouth Join Date: Apr 2008 Location: Atlanta, Ga Posts: 710	Yes, if I were told I to expect that kind of money, then I don't really think the bike would matter too much to me. If you're willing to keep it and part it out for the guys here, it would be a nice gesture...and you could basically accept any deal that allows you to do that. But I'll still say...take all you can get! (and make that lawyer earn his cut!) __________________ 2008 American Lifan LF200 GY-5 (930 km) - Sold 2007 Kawasaki EX250 - Sold 2006 Kawasaki EX650R - My new ride! 2005 Kawasaki EX250 - A new project
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04-24-2008, 03:17 PM	#64
Cal25 Join Date: Feb 2008 Location: Terrell and Grapevine Tx. Posts: 1,585	I think I would just run it by your lawyer. He will have the most experiance on what should be expected. I think at this point I would let them keep the bike unless they offer it for quite a bit less.
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04-24-2008, 05:04 PM	#67
knothead Join Date: May 2007 Location: In the land of the busted up ricebowl Posts: 815	I just wonder if there is anything worth salvaging one you get past the forks. That had to be a hard lick, did it push the swingarm into the back of the engine case? (there's only about 1/4" between them, on my Lifan anyway), how about the internals... crank, gears etc... could have been bent in the impact. Not saying it is, but things tend to give way under that kind of stress. But I don't think $1200 is enough, I'd go for every dime I had in it and just skip keeping the bike. I darn sure wouldn't give them $500 for it! You've done the right thing by lawyering up, I'd have NO mercy after getting hit by a darn drunk! :twisted:
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04-24-2008, 05:11 PM	#68
motohillbilly Join Date: Mar 2008 Posts: 118	I think with a new swingarm, and maybe a wheel the bike would be ok. The tail piece behind the seat is trashed. Motor is fine tank is fine electronics are fine bars are fine controls are fine. Its the swingarm . I think the lower frame is ok too. __________________ 2007 LF200GY5
	0

04-24-2008, 05:45 PM	#69
rob6262 Join Date: Nov 2006 Location: Spring Tx Posts: 6	Total loss Motohillbilly, I'm an adjuster in Houston, and have a few questions. Did the insurance company explain how they got the the value of your bike? There is no way they will get $500 in salvage for the bike at auction. I know the china bikes are cheap, but you did assemble and license it correct? The real big deal is that the driver was drunk. This opens all kinds of problems for the insurance company, as they are responsible for punitive damages. I would take the offer and let them retain salvage. You will be way ahead after punitive damages are paid. Rob
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04-24-2008, 06:04 PM	#70
Guest Posts: n/a	I know it's easy to get all wound up when ya start thiking about Lawyers,Lawsuits,And dollar signs! Insurance is in place so we can get back what we lost! I think I would be happy with a return of my full purchase price!! Not, Money plus the bike! You had one new bike when it happend,You should have one new bike when it's over..... As far as pain and suffering and the like, Priceless!!!! Get all you can...
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