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Its a write-off, now what?

Discussion in 'General Motorcycling Discussion' started by undersea4x2, Feb 28, 2006.

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  1. Had a big off near Mitta mitta NE Vic Saturday 18th.Ran out of talent half way around a lefthander and lowsided into the gutter,dislocated left shouder and just found out the bike has been written off. :(
    The QBE man was laid back about the loss but I feel a real finantial kick in the arse coming my way.I cant hope that I will get even close to the $9500 I paid in December for the bike so any tips on what Im up against and what I need to know? Apart from how to stay ON the bike.
    PS Just a note to thank the Draggin jeans people, skidding backwards on my guts at about 80ks over stones without a scatch is a credit to the jeans
    and there not damaged either :grin:

  2. sorry about the off mate, hope you get better soon :(

    Now what ? - you gotta wait to see how much dough you're going to get for the bike. Then you'll have to see how much that will buy you in a replacement bike.

    Good luck
  3. Did you have an agreed or market value policy? If the latter, ring your insurance company and ask them what they say the market value of your bike is. If you paid a lot more than that for it, then you shouldn't have insured with that comapny, or should have gotten an agreed value policy.
  4. My name is Forest Gump - I cannot spell "you"


    Interesting post kishy :)
  5. thanks kishy
    sounds like good advice for next time.
    didnt think i woud need it this quick though!!!
  6. I had trouble with market value on a car a few years back when it was written off.

    In the end the insurance company agreed to allow me to submit 2 written apprasals of the vehicle value prior to the accident, performed by qualified persons (In this case mechanics) and then averaged the 2 and paid me that amount - which was double their original offer, still a little less than the price paid 3 months earlier.
  7. I did a similar thing on a VFR a couple of years ago. Wrote it off on a left hander near Corryong. It was about 1 month after a $400 service, and paying 12mths of insurance and rego.

    I had an agreed value policy, but didnt realise the "agreed" value decreased each year. So the $8200 I thought I was getting became $7600. It was listed on the policy, so my fault for not reading it fully.

    Also thought I would get the refund on the 11mths of rego I didnt use, didn't happen
  8. Not all policies are like this .. some decent insurance companies don't try and rob you of your registration too. It pays to shop around to get the better deals.

    Once again .. shop around. Not all insurance companies will rob you like this.
  9. Kishy, your advice is good, I now read the terms and conditions on insurance policies.

    I also argued with the insurance company for a refund of unused insurance, with no success.

    The written off bike was sold through Fowles auctions. No one ever asked me if I had any stuff at home that belonged with the bike, it didn't even have any keys! Guess they dont care as they think it will go to a wreckers
  10. Shannons and IC Frith (aka Arista) are two insurers that I am aware of that don't rob you of your registration in the event of a write-off.

    :roll: It is exactly to do with robbing. The insurance company wants more money, so they say they have slavage rights over the registration so they can get the refund off the relevant roads/registration authority.
  11. I say consumers would pay fewer in premiums and get better value & benefits from their policy’s if all insurance staff did some work and were not on the internet during company time, what do you reckon Kishy? Would my premium be lower if they trimmed the fat? :LOL:
  12. O.T. I know, but Kishy you must have a very developed feminine side as the only people that multi-task effectively are Women.
  13. Hi Kishy,

    Don't want to get into a bun fight with you and sure the guy from Shannon's was right, but I read the PDS and can't find the bit on rego.

  14. My name is livingstonest - I cannot spell "Forrest"

  15. When you get an agreed value policy the agreed value includes the on road costs, so you're not actually getting robbed, because part of the payout is the value of the rego which you paid.

    Once again they're charging you a full year's premium for a full year's insurance. There is no robbing going on at all. I'd be interested if you could nominate a single insurance company that didn't charge you a full year's premium if you bought a full year policy or which would refund any portion of the insurance or premium. That's not how they do business.
  16. Thanks all for the advise.
    Ill tell you how I get on with the payout when it arrives. They also wanted all extra keys books etc to be sent in before they would start on a payout figure. Sounds weird but "show me the money"i've got my eye on a sweet little V-strom........
  17. I've never heard any of this stuff about rego before. The only time I've had a car written off it was deemed to be the other driver's fault (also with RACV) so maybe that makes a difference. I just went to Vicroads a couple of days after the stack, cancelled the rego and got the cheque in the mail (about the same time the cheque from RACV came). Perhaps my assumption that I should cancel rego was a smart move.
  18. They don't refund it, because they don't take it from you. Up to you to ring the roads authority and get the refund.

    And if you read it, you'll see there is no allowance for them to make claim on your vehicle registration.
  19. Because it's not in there. Shannons, unlike some other insurance companies, do not rob your vehicle registration in the event of a loss, leaving you free to ring the roads auhtority and get the refund for yourself.
  20. Yup, smart move indeed, since RACV policy says they claim your registration. This is one way to get it back, cancel it before you process/approve claim.
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