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Insurance Salvage Motorcycle - Buying Your Totaled Bike Back From the Insurance Company

Many people think that when an insurance company totals their motorcycle that it is a total loss of property. But you have to look beyond how the insurance company defines “totaled” when you are thinking in terms of an insurance salvage motorcycle. The insurance company doesn’t really believe that there is no hope for your insurance salvage motorcycle, and you can buy the bike back for what its worth to the insurance company after you have been paid off by the insurance company for the value of the bike.

When the motorcycle is wrecked the insurance company sends an appraiser to assess the damage. He looks at how much damage was done, and then he determines if the bike can be fixed or if there is too much damage to the bike. If he determines it will cost too much to fix the bike he then determines that it is totaled. You are then notified on the status of the claim. To make this determination, the appraiser notes what damages have been done to the bike. He then compares the dollar amount of the needed repairs to the actual value of the bike. If he determines that it will cost more to fix the bike than the bike is actually worth, it is considered to be a total loss.

When you get the notice that the bike is a total loss, you should determine the condition of the bike for yourself. If you decide that you want to rebuild it, simply tell the insurance company that you wish to buy the bike back from them, and ask them how much they want for it. However, in some cases, the cost of rebuilding the bike may be more then buying a new one.

When you buy an insurance salvage motorcycle there is no guarantee that your insurance company - or any other company - will insure the motorcycle, unless you can make the necessary repairs to get the bike street legal in your state. Before purchasing a salvaged bike you should determine what the repair cost will be for you to get the bike back on the road, and if that expense is worth it to you. People go through this procedure for many reasons. Some buy the bike back and make the repairs because it is cheaper. Some do it for sentimental value. Whatever the reason is, just remember it is expensive - but it could be the best solution for you.