Deciding Between Motorcycle Repair & Replacement
If your bike is not eligible for a motorcycle repair, you are entitled to the cost of a replacement motorcycle, including accessories. Often, there is a dispute because the motorcycle has more financing owed that it has value.
Another source of dispute is that, after using the motorcycle, it has a depreciated value. Insurance companies are often difficult to deal with, because they don’t understand the intricacies and many models of motorcycles. They value them based on insurance databases that include many bikes that may not be in good shape.
Comparable prices for truly comparable bikes will help you negotiate replacement of your bike, but remember that the prices must be for actual sales of bikes, not just asking prices. Dealers in similar bikes, or even the salesman that sold you your bike may be able to provide you with a written opinion of what the value of your motorcycle was.
Remember that, in addition to compensation for the value of your motorcycle or motorcycle repair, you are also entitled to reimbursement for the tax and license costs you will incur on a replacement.
Lastly, you are entitled to be compensated for the reasonable value of “loss of use”, or daily compensation for the time it takes for the replacement or motorcycle repair.
You may have coverage with your own insurance company for damage to the motorcycle. You may choose to make the claim with either your own coverage, or the defendants’ coverage. Ultimately, your carrier will be paid back for anything it pays you under an arrangement that the insurance companies have with each other.
If you or a loved one are the victim of a motorcycle accident, call Michael Padway & Associates, California motorcycle attorneys experienced in motorcycle injury accident cases and lawsuits in Oakland, San Francisco and San Jose. Call us at (800) 928-1511, or fill out this online contact form. Meet with us and find out how we can help you start rebuilding your life and get you a fair settlement for your injury.