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Re: Insurance advise

I am an agent (I do not play one on TV). The last five years of my life have been consumed with insuring motorcyclist. The info I give should help. First, the cops gave you a police report stating your side of the accident, right? If the insurance company has any backbone they will accept this as proof that you were in a "no win situation". If you pay for uninsured motorist or underinsured motorist coverage the insurance company will most likely allow you to use that clause to make the claim. If not raise hell with the claims manager (don't even bother going through the supervisor crap). Also, most companies have "riders" or provisions that allow for the loss of gear in an accident> That rider may only be $1000 in most companies and the companies will usually not budge over that. But you have to take into account wear and tear for depreciation sake. If the company that insures you does not have a gear clause you are SOL. All in all, the insurance company will drag its feet a little. The things you must know. If the bike is less than a year old you can in most cases get full replacement cost for the bike. The majority of companies will allow for this. Companies like Progressive and Pacific Specialty (McGraw Group) usually will start depreciation 3 months off the showroom floor so you'd be stuck with Actual Cash Value for the ride. When negotiating the final settlement get your facts in front of you. Search the papers, Cycle trader, NADA and Kelly Blue Book for like bikes. The insurance company will offer low. (It's there job- don't take it personally). You have to get them to a point that is acceptable. Using Trader and the newspaper will show the company market value (it works). Loss ratio effects everyone in this industry (including the agent that sold you the deal). Stay firm on the price you are looking for on the settlement for the bike but be flexible on the gear and everything will work out. If you need to talk hit me up and I will go into further detail.
 
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