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Afraid of getting boned......

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I am waiting an insurance settlement on my stolen 05 CRF450 from State Farm. They won't settle for three weeks following the theft in case it gets recovered. When I insured it they asked for how much. I told them $7400 (Retail OTD) I really paid $6525 OTD. They want the original sales receipt plus receipts for upgrades IE my suspension etc. I have receipts totaling $875 for extras. I have a $500 deductible they'll knock right off the top. My current payoff is $1689.00.

My bike had 12 hrs. on it and was perfect. The question is how much are they going to depreciate it for 12 hrs./3months old? Any insurance adjusters out there in TT world???

I was hoping to come out as close to even on my new bike as possible but Im getting nervous................I feel like they are going to go " aah it only worth 3500 or something. Anyone been through this B4?

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Kelly Blue Book doesn't even list '05's yet, so I don't know where they'd get a depreciated value. However, even an average-condition '04 model has a suggested retail of $4,985.

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Afraid of getting boned......

I thought you were gonna say you got sentenced to prison or something....j/k! :cry:

I would think the company would consider the replacement cost vs. value. But, I know how insurance companies go, you probably won't get what you had in that bike. I am anxious to find out what they give you...

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I had a 2004 stolen that was 4 months old. I had Erie Insurance, but everything you mention sounds the same. I gave receipts for everything and also had to wait 3 weeks.

The insurance company called two local dealers and ask what the bike was worth with the extras on it.......used.

One said $5800 (where I bought it, and they knew my story).

One said $5000.

They gave me $5400 and the tax (6.5% here) on it.

In the end my new bike was $250 more (2005).

Deductible was $250.

Lost $500 in parts.

Lost at least $1000 on the bike.

I ended up losing over $2000, and thats not counting the many small things.

Sorry to bear bad news, but thats my story :cry: .

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