Motorcycle accident; Insurance advice

[TheHonoharu]

Hey KR,
Got in an accident today. Unlike my first accident this one really messed up the bike. I was trying to merge into another lane where there was slowing traffic and it the cars all stopped, I tried to stop fast and locked up the front and rear and going down. I slide into the side of his car and my bike hit the curb right into the gutter, which I got some dark comedy out of because I was leaking engine oil so I was like great at least the oil isn't out in the road and a hazard. Physically I am fine, my knee hurts a little bit, but the EMT gave me the option of going to the hospital or not and I was standing and feeling alright, if I do notice that I am hurting I will go to the hospital though. Anyways so this is pretty much conceivably my fault as I failed to maintain speed and attempted an aggressive merge. Any advice yall can give for insurance and getting me back and going, the bike will most likely be written as a total loss and it most likely could be repaired, but if I am honest I don't have the mechanical knowledge/skill, money, time, or the will to try to repair it. Thanks.

[maniac1886]

I dont know how Texas works. In Michigan, a no fault state, you would file a claim and the other person's insurance would pay for the bike, and your insurance would pay for the damage to their car. Their gunna total it, and they are not gunna wanna pay out. Chances are if you get paid, it will be bluebook value of the bike at best. So, like, $1000.00 if they don't pay, and you file an insurance claim through your insurance, they'll total it and give you $500.00 tops. Either way really, you are screwed.

Did you get the other drivers information? Did you admit fault to the officer who made the police report?

[TheHonoharu]

See I don't think I admitted fault and I did not hit their car with my bike, I kinda slide into the side underneath and was too fat to go completely under it. If I were sleazy I could probably have gotten it to be more their fault for an abrupt stop but I had adrenaline running through and kinda didn't have complete clarity. I let the police handle all the information stuff and I don't think that they will be claiming anything since there was no damage that I did to their vehicle kinda hard to tell since the car was a beater.

[maniac1886]

Well, then ur boned. U can make aclaim with ur insurance but u might get money back. Might not. If u do, it'll only b $500 in a best case scenario. Wouldn't even make a claim and risk further insurance going up. Either repair it, sell it, or part it out. =/

[TheHonoharu]

Would it only be $500 for a 2006 Kat 600 with ~7000 miles on it, when I look up comparable motorcycles I keep seeing stuff in the $2000-3000 range. My hope is get the minimum of $1000 but shooting for $1500.
As far as repairing goes I have little resources since I'm a university student. For parting it out I could probably make more off the parts.
Selling it I would see around $500.
Too late on the claim, too. I pay very little for insurance already so it be a bummer, but not a deal breaker.

[92xjunker]

They will give you the lowest book value. Many time even lower is the bike looks like poo to begin with..

[maniac1886]

you will nevr get 1500 for a kat. Even with full coverage you'd be lucky to get that. in my state, car or bike, a plpd total is $500.00 cash. At most. since you didnt hit anybody (basically) than your insurance with call it your fault and low ball you. Im sure of it. Call your insurance company by all means, but dont expect thwm ro lift a finger. I totalled a PLPD kat last summer in a hit and run. My ins wasnt even willing to pay out. O opted out of claiming it and bought a new bike and moved the policy to a new VIN.
Michigan insurance is all fucked up, so i recomend you talk to your insurance company first. just dont expect much in assistance, and if they DO pay out, your insurance payments will likely increase.

[Kreylyn]

With what little info you gave... I'd suggest you call your insurance agent to get specifics of what is available to you with your insurance policy. Being as there are many options with policies and that varies state to state too, it may not even be an option for you to file a claim. You need to speak with the insurance provider first.

If you can file a claim, it will be totaled. There is no doubt about that. A bike that age with the fairings on these bikes, it falling over would practically total it out insurance wise. They have to repair it to OEM specs. That means OEM parts from dealers. When one main fairing prices in at $600, it doesn't take much.

Normally I'd suggest to someone who has ability and room to work on it, to keep the bike and take the reduced pay out on a totaled bike. It would be possible to repair it enough to ride again. It would take a bit more make it "like it was". This is why you see many "fighter" versions... it's really just a cheaper way to make the bike streetable again.

For your situation... not really skilled, in college.... I'm gonna guess that your not really in a posistion to work on it, much less have a place to do so. It's not gonna be a couple of days, it's gonna take time and money. Do you have that to spare right now?

If you can't get insurance to pay anything (possible) you can sell the bike whole. i'd expect you could get $700 ish for a good working motor and carbs setup. Sell as is, invest in something that doesn't require work.

Krey