Buying back a written off bike

[TheThing]

Hi all, just looking for a bit of advice. I recently had an accident on the daily commute. The bike has been written off and I am unsure of what to do. I am considering buying the bike back and using it for the commute again and just running it into the ground. I can get it back on the road for peanuts. I could get paid out and buy another bike but the chances are the same thing will happen again. Every bike I have owned has been down the road or involved in some sort of collision. Unfortunately I have accepted that this is just part of doing 10000 miles a year through central london. Apart from the obvious, are there any hidden down sides to owning a written off bike?

[bimsb6]

As long as the price is right i cant think of any .

[Krikkit]

As long as the frame isn't damage, I'd buy it back without hesitation.

[talksthetorque]

Genuine question I don't know the answer to - is there an issue insuring a Cat bike?

If you claim, buy it back and sort it cheap - it's free money for a bit of effort.
.
If you claim, don't buy it, and use the money to buy another bike, it's a free swap.

Could you buy it back and sell it as is or repaired?

Hope there wasn't too much pain involved getting to the point that you are at now.

[kiethton]

Yeah but it back, I only run ex-write off’s for my commute into the City. Most insurers are ok, it’s Flux’s motorbike insurer I’ve only ever had an issue with (from which they quickly relented)

[SAS Tom]

Depends on the damage. I had a bike knocked over in a car park. It was valued at £1600 and written off. I was offered it back for £80 and all it had was a cracked panel and broken gear lever. I just fixed the gear lever with a bolt and some nuts.

A mate was offered a bike back that had a head on collision with a car. It was repairable and would have been a cheap bike but he didn’t want to spend the time required on it.

[Donbot]

As above. It depends on the damage.

If you go into the side of a car it doesn't need to be at high speed to bend the forks, or do other expensive damage etc.

[thatdude]

As long as you know there isnt anyhting major damaged (engine covers cracked that let in debris etc, damage to frame, wheels, other chassis parts) then get it back (negotiate hard!), fix it up and carry on.

I did it with my old SV, and I did it with my previous car.

[trumptriple]

Bought back my central London commuter. New forks, front wheel, mudguard and top box. But I was still quids in.

I put up with a couple of cracked body panels. Used it for another three years and then sold for spares/repair on ebay.

No problems getting it insured.

[TheThing]

Thanks for the advice gents. I will buy it back. The only big issue is that the steering is bent and I cant work out where. There was no front impact so I dont thinks its the forks. The frame also looks sound. Ive got a feeling its the clip on from where the bike went over sideways.

[SteelerSE]

TheThing said:

Thanks for the advice gents. I will buy it back. The only big issue is that the steering is bent and I cant work out where. There was no front impact so I dont thinks its the forks. The frame also looks sound. Ive got a feeling its the clip on from where the bike went over sideways.

My suggestion was going to be buy it back but only as long as it is straight. If it's just the clip on, fine but otherwise walk away.

[moanthebairns]

SAS Tom said:

Depends on the damage. I had a bike knocked over in a car park. It was valued at £1600 and written off. I was offered it back for £80 and all it had was a cracked panel and broken gear lever. I just fixed the gear lever with a bolt and some nuts.

A mate was offered a bike back that had a head on collision with a car. It was repairable and would have been a cheap bike but he didn’t want to spend the time required on it.

£80, that musta felt like waking up and beating your brother and sister to the free gift inside the fresh box of Rice-Krispies.

[waynedear]

Brothers zzr11 was written off last week, purely cosmetic, other party insurance paid out, he got the bike for a couple of hundred and paid out for damaged gear, apparently they said it is not going on the register, pretty much all it needs is a new nose fairing and one side fairing.

[d8mok]

When my 1199 panigale was written off i was offered it back at about £3k (value was £15k). Wish i had bought it back if im honest

[TheThing]

Another question guys. My claim has gone through and I should receive payment early in the new year but there is an issue i need some advice on. My intentions were always to buy the bike back but as I was talking to my insurance company on the phone they told me that I had no choice but to buy it back. I was always under the impression that when a vehicle is written off the insurance company pays you out the value of the vehicle before it was damaged and then the insurance company takes full ownership of the vehicle and does with it as they wish. I was told that I would have only ever received my payment minus the value of the vehicle after it had been written off as I had no choice but to keep it. If I didnt want to keep it then it is down to me to sell it to a salvage company to claim back the written off value of the vehicle. Sorry for the long post and I hope it makes sense but this does not seem right to me. Can anyone shed some light? Thanks.

[talksthetorque]

TheThing said:

Another question guys. My claim has gone through and I should receive payment early in the new year but there is an issue i need some advice on. My intentions were always to buy the bike back but as I was talking to my insurance company on the phone they told me that I had no choice but to buy it back. I was always under the impression that when a vehicle is written off the insurance company pays you out the value of the vehicle before it was damaged and then the insurance company takes full ownership of the vehicle and does with it as they wish. I was told that I would have only ever received my payment minus the value of the vehicle after it had been written off as I had no choice but to keep it. If I didnt want to keep it then it is down to me to sell it to a salvage company to claim back the written off value of the vehicle. Sorry for the long post and I hope it makes sense but this does not seem right to me. Can anyone shed some light? Thanks.

This is one of those " Check your policy wording" things.

There may be something in your policy that states this, there may not.
Not all insurance policies are the same.

[TheThing]

talksthetorque said:

TheThing said:

Another question guys. My claim has gone through and I should receive payment early in the new year but there is an issue i need some advice on. My intentions were always to buy the bike back but as I was talking to my insurance company on the phone they told me that I had no choice but to buy it back. I was always under the impression that when a vehicle is written off the insurance company pays you out the value of the vehicle before it was damaged and then the insurance company takes full ownership of the vehicle and does with it as they wish. I was told that I would have only ever received my payment minus the value of the vehicle after it had been written off as I had no choice but to keep it. If I didnt want to keep it then it is down to me to sell it to a salvage company to claim back the written off value of the vehicle. Sorry for the long post and I hope it makes sense but this does not seem right to me. Can anyone shed some light? Thanks.

This is one of those " Check your policy wording" things.

There may be something in your policy that states this, there may not.
Not all insurance policies are the same.

Thanks for the reply. I understand this but would it matter what my policy says as I have been found not at fault and the claim is from the third parties insurance.

[talksthetorque]

TheThing said:

talksthetorque said:

TheThing said:

Another question guys. My claim has gone through and I should receive payment early in the new year but there is an issue i need some advice on. My intentions were always to buy the bike back but as I was talking to my insurance company on the phone they told me that I had no choice but to buy it back. I was always under the impression that when a vehicle is written off the insurance company pays you out the value of the vehicle before it was damaged and then the insurance company takes full ownership of the vehicle and does with it as they wish. I was told that I would have only ever received my payment minus the value of the vehicle after it had been written off as I had no choice but to keep it. If I didnt want to keep it then it is down to me to sell it to a salvage company to claim back the written off value of the vehicle. Sorry for the long post and I hope it makes sense but this does not seem right to me. Can anyone shed some light? Thanks.

This is one of those " Check your policy wording" things.

There may be something in your policy that states this, there may not.
Not all insurance policies are the same.

Thanks for the reply. I understand this but would it matter what my policy says as I have been found not at fault and the claim is from the third parties insurance.

Sorry, had forgotten that
In that case they can argue that you have been paid the reduction in value of your bike.

[moto_traxport]

TheThing said:

Thanks for the reply. I understand this but would it matter what my policy says as I have been found not at fault and the claim is from the third parties insurance.

Are you going through a claims handling company / bunch of sharks? If so they can dispose of the salvage and pay you up for it.

How much are they assuming your salvage is worth? It's often a case of 'why the heck wouldn't you want it back?" sort of money.

[moto_traxport]

TheThing said:

The only big issue is that the steering is bent and I cant work out where. There was no front impact so I dont thinks its the forks. The frame also looks sound. Ive got a feeling its the clip on from where the bike went over sideways.

Most likely the forks have twisted in the yokes - often a case when its just gone done on its side. Loosen the pinch bolts off on the yokes and then holding the front wheel between your knees, straighten it up in a similar manner to which a chiropractor might click your neck or back. I'm sure they'll be loads on the youtube or similar.