Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

if a bike is repairable how do ins. comanies deceide to write it off or not ??

Discussion in 'General Motorcycling Discussion' started by oz_johnno, Oct 28, 2009.

  1. I was wondering what formula the insurance companies use to decide whether to write off or repair..... ?

    Anyone know ??

  2. Without having any inside information, my understanding is that for an economic write-off it is purely a financial decision. Is it going to cost more to pay out the customer and sell the wreck by auction, or to repair the bike.

    From experience with our business and the insurers we use, it can also be worthwhile talking to the insurance company if it seems that the decision could be close. If it's a close decision, and the customer expresses a strong opinion one way or another, then there is a chance that the owner's opinion will be taken into account. Of course, this is only relevant if the estimated costs of going either way are very similar, and on how good a relationship you have with your insurance company.
  3. Agreed

    They way up how much it costs to repair the bike and compare it to how much they would be able to get it if they paid you out and either sold the parts or sold the bike as a write off.

    First thing they will do is get a quote.
  4. +1

    It's purely a financial decision.

    They can not only write off a repairable bike, they can write off a rideable bike. If you have enough gouges in fairings exhaust, broken screen etc in a brand new bike, it could still be cheaper to write off than replace all the damaged bits even though the actual damage may only be cosmetic.
  5. I believe there is also a concern with bikes that they can be repaired to a suitable safety standard.

    If you want your bike written off, ask the assessor if they can write it off. Most companies offer life-time guarantees on repairs. They'd rather piss the thing off than get it fixed up and constantly get the thing back with different problems that weren't apparent at first assessment (or that cause you to crash again).
  6. thanks for the info guys

    I received a quote from peter stevens out in ferntree gully $7400 to fix my 2008 ZX14 SE

    I was wondering if there was a hard fast formula that they used


    IF ((cost of repair)+(salvage value)) >= (market value) THEN (writeoff) = TRUE

  7. Peter stevens spray paint and repair rather than replace.

    I'd find someone who can replace if you get the choice of repairer.
  8. :beer:8-[8-[8-[
    Reg Jeffries Honda is out there as well and there are truckloads of bike shops in Ringwood. All may be good alternatives....

  9. Pretty much. Although the precise salvage and market values used by specific companies may vary a bit.
  10. thats basically it depending on what company if yuo want an idea of what your bikes roughly worth to an nisurance company pre accedent go get a copy of the glass's guide or redbook andlok it up in that. most insurances base their prices on these figures for a guide.
  11. Thanks for the tip. I will not accept the bike if panels have been repaired and sprayed.

    panels treated like that wear differently than the rest of the bike.

    Its my bike, its a new bike (less than 1 year old), the accident wasnt my fault, so I feel I am entitled to have the bike back as new.

  12. Hey - i have an unreal repairer... he's in tullermarine though
    PM me if you want his details