Insurance Claim Question

[racingmason23]

ronayers.com

[kevplus2]

nope...you pay the insurance and are therefore entitled to the payout from the claim. you dont even have to have it fixed if you dont want. get the payout and fix it yourself to save some $$

[TFOGGuys]

If there is an outstanding loan balance on the bike, the lien holder may require you to do the repairs (with proof) to protect their collateral interest in the bike. This does NOT mean they get to tell you where the bike is repaired. You still have a choice on that. It may mean that you have to take it to a shop to have the repairs done, and there may be restrictions on the use of aftermarket parts en lieu of OEM stuff.

[The GECCO]

If there is an outstanding loan balance on the bike, the lien holder may require you to do the repairs (with proof) to protect their collateral interest in the bike. This does NOT mean they get to tell you where the bike is repaired. You still have a choice on that. It may mean that you have to take it to a shop to have the repairs done, and there may be restrictions on the use of aftermarket parts en lieu of OEM stuff.

^^^
What he said. This is the reasoning behind the check being made out to both you and the shop.

[jcj81]

That is odd, if you own it out right I would think they could cut you a check and do as you please. I know I've had that option with a car before I got a check in my name and did what I wanted.

[TFOGGuys]

Under Colorado law, they must return any old parts to you if you request that they do so before the repairs are performed. It seems odd that your policy is written that way. Is your insurance company under the impression that the bike is still under a lien? As in, the bank still has an ownership interest?

[longrider]

I agree with Jim, that is really strange to have a policy like that when there is no loan. There are two things they can do when you do your own repairs, first is you sign a statement that the damaged areas will not be covered in a future claim until the bike is inspected by a representative of the company to document that everything has been repaired. I had to do this once. The second is to cut the labor in about half, the reason which admittedly is reasonable, is that while you deserve to be paid for doing the labor you dont have shop overhead.

[UHATEIT]

I am a claims adjuster for a car insurance company. Typically the only way you would get brand new dealership parts is if you paid extra for the OEM parts endorsement, depending on what company you have as some will throw that in as part of your coverage, otherwise they will often use LKQ (Like Kind Quality) parts, then again most bikes once down are done for so finding used fairings that are broken might be impossible and only then will they give you brand new parts.

As for the 2 party check that would be due to you having a loan on the bike if there is a leinholder they have to do that. You might as well call the lady and confirm why they are doing a 2 party check, if you own it outright and no lein then you an get the check and do it yourself for sure!

[TFOGGuys]

My experience is that most insurance companies will only use OEM parts for replacements(on bikes), due to a lack of quality aftermarket equivalents.

[UHATEIT]

TFOG is correct. Unless the OEM parts endorsement is purchased, the company will use aftermarket or LKQ parts, but if none are found then they will use OEM. As my post stated above, most bikes once they go down there are probablty a lack of actually salvageable/good replacement parts so chances of getting OEM are probably pretty good. At least at my insurance company where I work, they give OEM for cars when you buy the endorsement or as stated above when no replacements are found.

[longrider]

Are you saying that your company is using salvage parts? I was aware of aftermarket body panels (which are crap) but I had never heard of insurance making you use salvage

[UHATEIT]

No I mean they would use a used part meaning a part of a vehicle like a salvaged vehicle. Say the right side is demolished byt a salvage yard bought the whole car they would remove all the left side parts, IF they are guarenteed to work properly they would install the used parts. The used parts would come with the guarentee. They would also use aftermarket parts (which like you said can be crap) I have seen aftermarket parts not line up properly so they then just throw on OEM new parts. Regardless of what parts are used, the work/labor and all parts are guarenteed so if the part was bad we wouldnt guarentee it so thats where you'd get aftermarket or OEM. Sometimes even OEM is cheaper than used/refurbished due to lack of finding the part.

As for bikes I don't handle bike claims, I handle car claims (Injuries actually) but it would be hard to find proper used parts for a bike I'd imagine and the OP said he was in need of fairings, so chances are they would replace the stock fairings with OEM as finding undamaged fairings would probably be impossible. But the OP if he can swing it should definately get the check and buy some aftermarket fairings and upgrade goodies and install himself to save the cash!