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Your Questions About Motorcycle Insurance Companies

August 7, 2013

Donna asks…

Does a crashed motorcycle need a salvage title for it to be sold?

I want to sell my crashed motorcycle. I received a lawsuit settlement from the crash but the insurance company never bought out my bike. Do I need a salvage title to sell the motorcycle or can it be sold as is?

Administrator answers:

If the insurance company did not “total” the bike, you can sell it as-is without any problem. The only time you would deal with a salvage title is if the vehicle was a total loss and bought by the insurance company.

Helen asks…

Insurance company that insures expensive cars?

I’m 18 years old, but I have a lot of money. I’m looking to buy a Bentley, or a Rolls Royce, maybe even something a little faster like a Ferrari. Buying the car is not the problem, the problem is more along the lines of I’m 18 and I’m going to need car insurance. Does anybody know of any insurance companies that will insure an expensive car? I’ve talked to Geico and esurance, and neither of those companies insure exotic and overly-luxury cars, and it makes it even harder because I’m 18. Could somebody help me?

Administrator answers:

Hagerty Insurance Company. I have used them on several “collector” motorcycles, and I am sure they will help you. Best of luck!

Jenny asks…

I cosigned a motorcycle loan for my, the account is in write off mode, waht the consequences of a write off?

I’m trying to get a loan to pay off the debt but the bank requires that I have insurance on the bike. I don’t have a motorcycle license, therefore insurance companies are charging rediculus amount of money. I have decided to take the write-off. now, i know it will be on my report for the next 7-10 years. Am I free to go after those years or I’d still have to pay the bad debt?
more details. when my friend stopped making payments, i wasn’t noticed until after a year. by then, the bank was threatening to write off the account. I feel like i didn’t get a better deal. I was supposed to have at least been contacted earlier to get a chance to make payments. this time, they asked that I pay the entire amount due. Do i have a legitimate arguement with this one? can i write to the credit bureau about resolving this?

Administrator answers:

No if they dont take you to court or anything and you get past those 7 years then yes your free to go, but anytime up until that 7 years from the date of first delinquency they can change their mind and take you to court. Oh yea and after those 7 years they must delete from yor credit report.

Lisa asks…

how to do formal letter to insurance company?

I have this friend needs my help to do a formal letter to the insurance company to state the reason why he late to report about his lost motorcycle. I have no idea how to start of course I know the format but the main reference and content of the letter I have problem how to say first. Should I write the main reference is “Reporting lost motorcycle” or “Claiming for lost motorcycle“. This friend late report abt his lost motorcycle because of his busy work don’t manage to report faster, he doesn’t know the procedures and still trying to search for the motorcycle. He did report to the police but no actions were taken. It’s been a month already since his motorcycle missing. What details I should write down in the letter? Please help me,since I have no experience with this.

#Your help is very useful for me. Thank you#

Administrator answers:

You don’t send a “formal letter”. You call the company or the agent and complete a claim form. The claim form will cover all of the necessary details to adjust your claim.

Ken asks…

Will my insurance company pay me for damages then I can sell my vehicle as is without repairing the bike?

My Motorcycle got stolen and the police just picked it up. Turns out the thief spray painted the bike all black (it was red) and damaged some parts of it. The insurance company was days away from sending me a check for the bike. Will they just cut me a check for the damages and I can sell the bike as is, keeping both?

A side note, I have Geico. Will they work with me to meet in the middle, if I sold the bike and the difference between what I sold it for and what they were going to give me is less than repairs. Basically, I don’t think I want the bike anymore, They were going to give me about $6000 but now fully repaired the bike will probably only be worth $5000, right now I could probably get $1500, POSSIBLY more. I figure it will cost anywhere from 3-5k to fix, I don’t know what they will be replacing and what they are going to try to say doesn’t.

Does anyone have any better thoughts? Is this a possibility?
I picked the bike up from the site the police found it, and drove it home. The bike is not totaled mechanically, granted they may total it based on how much money is necessary for repairing the paint.

Administrator answers:

Do not mention the words sell my bike to anyone at geico. Its possible its still totaled wait and see what happens. They are not going to give you a check for a totaled bike and the bike you can buy it back but why worry about it if they total it let them have it.

Maria asks…

Can a dealer add to the total cost of a repiar without infroming the customer or suplement with insurance?

I wrecked my motorcycle and sent it to a shop for repairs. My insurance company then went and cut a check minus my deductible. I received a call yesterday stating that my bike is ready and I owe an additional $300 for parts. My insurance company nor I received a call to be notified that there were additional parts and cost needed. Is that right for them to push that on me?

Administrator answers:

Yes, if it’s true.

However, now YOU or your dealer, should be calling the insurance company and filing a “supplemental” claim. It’s very common that once the bike starts being taken apart, they find additional damage. Supplemental payments are the norm.

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