Buy My Bike from Insurance Company or Let Copart Take It? (Cross-Post)

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Buy My Bike from Insurance Company or Let Copart Take It? (Cross-Post)

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CBR >> Past CBR Models >> CBR 929RR >> Buy My Bike from Insurance Company or Let Copart Take It? (Cross-Post)

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Buy My Bike from Insurance Company or Let Copart Take I... - 2/24/2006 3:56:08 AM

drozdila

Posts: 17
Joined: 10/2/2005
Status: offline

I bought a 2001 Honda CBR 929RR with 5,000 miles and a clear title for 4,700 last summer

Click - Before

I was very happy with the deal that I got. The only nuisance was the rapidly rising coolant temperature in traffic, caused by a fan that was disconnected to prevent it from hitting the fan frame which appears to have been bent when the previous owner downed the bike. A poor fairing repair prevented me from removing the fairing to resolve the issue until I had some time to deal with it this winter. So our personalities were a perfect match - neither the bike, nor I, liked sitting in traffic.

Then the inevitable happened. I was stupid and took the bike out of storage on an early morning ride in January. Going through "Dead Man's Curve," in a suburb of Boston, I slipped on some sand and lowsided the bike at about 55 mph.

I slid about 400 feet gathering the oil behind the bike, took my helmet off, and counted my blessings for lack of oncoming traffic and the presence of a fellow motorist behind me to summon some assistance. Everyone got there really quick and off to Mass General I went. We stopped a few times on the way due to a bumpy ride, but we made it. Chick-chick went the scissors through the remainder of my gear and clothes and that is when the ER doctor took advantage of me and stuck her finger up my butt. I came in at 6 am, woke up by 11, and limped at 3:30 pm with 6 fractures (wrist, shoulder, and ribs), a bunch of cuts, and a destroyed helmet in hand. I love US healthcare - get them in, get them out : )

Here is what the bike looked like when I climbed out of bed in a few days

Click - After

The biggest concern are some cracks going through the casing that surrounds the clutch assembly.

Would that be the engine casing?

The insurance company declared the bike to be a total loss. The appraiser told me he got up to $8,000 and stopped counting. He said that just as I, he does not know all that much about bikes, but he did not believe that there was any frame damage. I offered the insurance company $600 to buy the bike, but they declined, citing an Adesa / Copart average of a $1,400 salvage value.

For those with experience rebuilding bikes, is it worth it to pay them $1,400 given the damage involved? Would I be able to restore the bike for around $1,600 to net me an overall cost of $3,000, or should I just let Copart pick-up the bike tomorrow and move on?

Thank you for your input.

< Message edited by drozdila -- 2/24/2006 3:59:44 AM >

Post #: 1

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/24/2006 7:47:15 AM

capt1014

Posts: 380
Joined: 2/13/2006
From: Ayer MA
Status: offline

I would let the insurance Co. take it.

The amount of money it wold take to replace everything that was damaged combined with the 1400, to buy the bike from the ins. co is going to be more than 3000 and aside from that at the speed you went down at, it is a good possiblity that the geometery of the bike is off. 929's are built like frieght trains but it took quite the tumble.

I would say cut yours losses and go on. Just my opinion.

It cost a womens insurance co 1400, jus to fix mine after she back up into it and my damage was cosmetic only.

Glad to hear that you are ok though!

If you get another bike by the summer let me know or if you know anyone who would be interested in a Forum group ride let me know.

(in reply to drozdila)

Post #: 2

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/24/2006 8:14:07 AM

Lord Jersey

Posts: 966
Joined: 1/14/2006
From: Wisconsin, via New Jersey, Mass, and Penn.
Status: offline

I'm gonna have to agree with the capt here. You might consider just cutting your losses and runnin'. As much as I hate to see another 929 off the road, your repairs might be triple what you think, and the bike might never be the same again. Sorry to hear.
LJ

_____________________________

Jersey Customs 715-304-8123

(in reply to capt1014)

Post #: 3

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/24/2006 10:43:18 AM

johndoe

Posts: 507
Joined: 5/20/2005
From: Dallas, TX
Status: offline

well on one hand you might be able to fix the bike with $1600 (as long as nobody tried to start the motor with no oil in it) with the help of ebay. but your gonna have a salvaged title bike and the resale value is gonna be shit.

but on the other hand its gonna be tough to be able to find another clean 929 with decent mileage for $3000.

honestly, im gonna have to go with the crowd and say take your losses and move on to your next bike.

_____________________________

/////Believe nothing you hear and half of what you see/////////////

(in reply to Lord Jersey)

Post #: 4

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/24/2006 2:44:17 PM

sixs929

Posts: 322
Joined: 1/3/2006
Status: offline

Speaking as a New Yorker with a salvage title bike, run away, man. My bike's beautiful, only damage was the tank and one of the ferruls the tank bolts to, but when I tried to title it in New York State, it had to go through a DMV Anti-Theft inspection first. And to pass that inspection in NY, the bike has to be near perfect, and I may have to buy a new tank because I can't prove the replacement tank isn't stolen!!!!!! Can you believe it?
I only paid 3500 for a beautiful 2001 929 with 8000 miles, but it wasn't worth the hassle, which isn't over yet!

(in reply to johndoe)

Post #: 5

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/24/2006 7:09:07 PM

PierPressure

Posts: 35
Joined: 2/16/2006
Status: offline

With that much damage I would let the insurance company have it and move on. Glad to hear you're ok now though.

On a side note, I will be very happy to take that undertail off your hands. Let me know what you think and we can work something out.

Thanks.

(in reply to sixs929)

Post #: 6

RE: Buy My Bike from Insurance Company or Let Copart Ta... - 2/25/2006 1:00:05 AM

drozdila

Posts: 17
Joined: 10/2/2005
Status: offline

capt1014: I race at NESCCA and SCCA events in Ayer during the summer. If I have not found a bike by then, perhaps I might run into you there. Thank you for the invitation!

Thank you, Lord Jersey.

johndoe: I kept pretty close tabs on the bike. No one tried to jump it or start it - it was still dark when I crashed, so the battery went dead from the headlight being on. The part that scared me most, was that the case appears not to be merely cracked, but is missing some rather large chunks out of it. I appreciate your advice.

sixs929: Why is it that you can not get a receipt for the tank? Was it a freebie or just a sharply discounted aftermarket part? Thanks!

PierPressure: Glad to see that someone is paying attention. It is on my desk, along with the leather tank-bra, and helmet net. I also have two brand new Dunlop tires. PM.

< Message edited by drozdila -- 2/25/2006 1:01:39 AM >

(in reply to PierPressure)

Post #: 7