QUESTION
My Motorcycle was hit in my apartment complex. It was parked in a parking space.
Asked on Sep 21st, 2014 on Motorcycle Accidents - Maryland
More details to this question:
The guy that hit my bike had insurance. I have a problem with the insurance company. I got a proposal to have it repaired. Well the repairs on the bike are not worth having it repaired. So they totaled the bike. I am confused, they only want to give me what KBB value is. I had paid off my bike years ago and put a lot of upgrades to it. Why I am confused is they only want to give me $7,900.00. for my bike when I paid $16,000.00 for it and added other things to it. What makes me mad is that I was not even driving my bike. Now it's totaled and I can't even buy another bike for that price. I forgot to say my bike is a Harley Davidson Super Glide Custom. I would like to know if I can file a civil suit on the person. My bike is worth a lot more then the insurance company want's to give to me. Also they did not have anybody go and look at the bike and do an estimate. They had me take pictures myself. Well maybe you can help me Thanks Jon
1 ANSWER
Insurance & Worker's Compensation Attorney serving Towson, MD
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Under the law, the insurance company is only required to pay you for the current fair value of the bike (including the current fair value of the upgrades) at the time of the collision. Unfortunately, it does not matter what you paid for the bike nor what it would cost to buy another bike. If you believe that your bike is worth more than the insurance company is offering, you will need to provide the insurance company with written documentation (e.g. a letter from a property appraiser as to the value of the bike, a letter from a bike dealership) that your bike is worth more. You could file a lawsuit and have a court determine the value of the bike but that will cost money and take time. Good luck with this matter.
Answered on Sep 22nd, 2014 at 5:47 PM