I recently crashed my bike and from the size of the dealer's repair estimate it looks like it'll be beyond economical repair. There is no outstanding finance on the bike and if it is declared a total loss I would like to buy it back to repair myself. Do I have the right to negotiate a settlement including the salvage or does it stay with the insurer?
George Warren, Small Heath
Answered by; Chris Evitt, Carole Nash Insurance
In the event of a total loss, the salvage/motorcycle will become the property of the insurer. You may be given the option to purchase any remaining salvage at the amount your motorcycle will attract on the open market in its damaged condition, but this is at the discretion of the insurer. If you have an agreed value policy (a free option with our ‘Classic’ and ‘Vintage’ policies), this option is included as standard, so please check your insurance documents.
If you are interested in retaining your bike in the event of it being a total loss, you should express an interest as soon as you register a claim. If it’s a category A or B write-off they are not allowed to put the motorcycle back into circulation. However, the majority of write-offs are category C or D so hopefully you stand a good chance of getting the bike back to repair yourself.
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