Go Back   Sportbike Addicts | Two Wheels... Our Drug of Choice > General > General Bike Talk
FAQ Members List Member Gallery Calendar Search Today's Posts Mark Forums Read Donate
Reply
 
Thread Tools Display Modes

Insurance Lesson (Theft Related)
Old 10-06-2006, 04:10 PM   #1
RonJ83
Ron 2.0
 
RonJ83's Avatar
 
RonJ83 is offline
Join Date: Sep 2005
Location: Staten Island
Posts: 477
Default Insurance Lesson (Theft Related)

A free lesson for you all, if some of you guys can recall, my bike was stolen around May of 2006. It was quickly recovered just two days later. At the time I was the happiest person in the world, I was glad I got my bike back and I figured since I have insurance they would cover the damages. BOY WAS I WAYYYY THE FUGG OFF! This however isn’t about me, this is a lesson I am going to give you, free of charge unlike how much it cost me OVER $3000!!! Here we go….

Lesson 1:
First get insurance for your bike, DO NOT SKIMP!!! DO NOT GO WITH A NO NAME COMPANY THAT NO ONE KNOWS ABOUT, search BBB (Better Business Bureau) to see how they are and if there are ANY complaints if there is AVOID THEM! I recommend companies like State Farm, Progressive, Allstate or Geico. Yes they are expensive but they do not mess around and they get things done FAST! If there are other reputable insurance companies (i.e. Riders for New Jersey) you can go with them too.

Lesson 1a: READ OVER YOUR POLICY!!!!!! I cannot begin to stress how important this is, some companies will only cover for your “stock” bike, if you have aftermarket parts MAKE SURE YOU REPORT THEM!!! In the event you have the bike inspected and the bike is still stock and you later on decide to add on an aftermarket part, MAKE SURE YOU CLAIM IT!!! That means keep receipts, and have an appraiser take legit photos to send to insurance company. The insurance company will not cover it if you don’t have it down on record. Some insurance companies are good they will cover up to the amount you have the bike insured for, no if ands or buts. Check your deductible, I recommend putting it at $500, the insurance rate will be higher but your payout in an event of accident, theft, etc will be less.

Lesson 2:
In the event of theft, PRAY LONG AND HARD YOU DO NOT GET YOUR BIKE BACK. YOU DON’T WANT IT BACK! Whoever took it violated her, abused her and neglected her. Why? Because that asshole didn’t pay for her or spend a dime on her, so to them its either going to be chopped up or used for stunting. YOU DON’T WANT HER BACK TRUST ME! Don’t post your VIN # on line, in the paper or even hand up LOST posters, don’t ask other people to look out for the missing bike. DO NOT PUT A LOJACK ON HER! By the time cops find her, its already too late, damages have been done. Let her go. Immediately call the police (NOT YOUR MOM, DAD, AUNT, whatever……THE POLICE) to have them come to you and file a police report & complaint #. Each state varies but you get the idea. GET A COPY OF POLICE REPORT FOR YOURSELF! After that’s all done call your insurance company and file a claim. DO NOT, and I REPEAT DO NOT SAY SHIT over the phone, tell them you will explain everything during the affidavit of theft interview. DON’T TELL THEM HOW IT WAS STOLEN!!!! JUST TELL THEM IT WAS STOLEN AND YOU HAVE NO CLUE! SIT BACK WAIT FOR INTERVIEW

Lesson 2a:
Pre-, Post Interview, DO NOT TELL THE INSURANCE COMPANY ANYTHING OVER THE PHONE, IF THEY CALL TELL THEM NOTHING, IF THEY ASK YOU ANYTHING TELL THEM ITS IN THE INTERVIEW. IF THEY ARE UNCLEAR TELL THEM YOU WILL CALL THEM BACK AND EXPLAIN YOU ARE IN CLASS, WORK, etc. THEN BREAK OUT THE INTERVIEW PAPERS AND GO FROM THERE BE ABLE TO BACK UP WHAT YOU SAY NOTHING MORE, DO NOT ADD or TAKE AWAY ANYTHING.
During interview have all your papers ready, when I say ALL papers I mean ALL papers.
- Bill of Sales
- Finance Agreement
- Driver License
- Registration
- Title
- ALL proofs of ownership
- Your keys (make sure you have 2 sets!)
- Any and ALL repair, maintenance, and aftermarket parts receipts.

THIS IS VERY IMPORTANT!!! Tell them everything; do not lie because there is no need to. Also DO NOT RUSH LIKE I DID, take your time fill out ALL the proper paperwork. Break out all old paperwork to back up your claims and any information you give them. ANY previous damages let them know and make sure you have receipts to back up your repairs. COVER ALL YOUR BASES. If you spent X amount of money write down X amount of money not X+XXXXX, JUST X itself. DO NOT UNDER CLAIM either, I was rushing and put down a lot less damage then I originally thought, 100% my fault! And don’t make it yours. After the interview is done make the guy print out a copy, if he doesn’t have a printer offer him your printer, MAKE SURE YOU GET A COPY TO READ OVER!!!! DO NOT JUST SIGN IT!!!! After everything is read over and you are happy have everything notarized, save a copy for yourself and mail the other one out to whomever you have to mail it to.

Lesson 3:
In the event you get your bike back, IMMEDIATELY! And I CANNOT stress this enough, IMMEDIATELY!!!!!! Take it home. That means go to the police station ask them where it is, if it’s in their yard call your own tow company and have it hauled to your house, if its already at a impound go there and get your bike out and tow it home. DO NOT ATTEMPT TO RIDE IT HOME!! They will not let you because it is still considered stolen until you change your plates! THE BIKE IS YOURS, NOT the police, not the court, not the insurance companies. ITS YOURS so DON’T let them tell you, you cannot take it home. Have proof of ownership, driver license and other documents that can prove the bike is yours before you head over.

Lesson 3a:
When you get it home take pictures, 2 sets if possible. 1 disposable camera for the printout and a digital for the in case shit happen. Also call and appraiser, don’t call someone you know cause that’s not going to hold up, don’t bother with dealerships cause they will jack up the price so high the insurance company will think you are on crack. Get someone who is neutral, have him or her look over the bike and give you and estimate. The insurance company will send someone over also and they will do the same. DON’T HAVE A CONVERSATION WITH THE APPRAISER. TELL HIM/HER where the bike is and let them do their thing. DON’T HELP THEM, DON’T ACKNOWLEDGE THEM, just let them do their job. If they ask you what happened just say, “my lawyer told me not to discuss what happened with you” and leave it at that. When they are done ask them for a copy, they are obligated to give you one because its your bike they are dealing with. Compare the 2 and make sure they are legit.

Lesson 4:
Chances are if you followed the instructions I’ve given you the claim process should have been smooth and easy, especially if you went with a big name company. If not then you are probably in the Under Oath Examination stage. If you are here, GET YOURSELF A LAWYER, do not think you will be able to go one on one with a lawyer; they are trained to make you stumble. I had gone in thinking it would be an easy 1-2-3 process but it wasn’t. Because I didn’t know I didn’t get a lawyer cause that would of helped me out. From here on out your lawyer should be able to help you more than I can, explain everything to your lawyer and make sure he has ALL the documents, interviews, receipts, etc.

Lesson 4a:
During the interview the insurance company’s lawyer will ask you how much you make and what do you do with the money. Be honest and at the same time do not make it seem you are strapped for cash. Make it sound like you have money in the bank but you are going after the insurance company because you paid for a policy to insure your bike and you want to make sure its policy is enforced. Money is not an issue it’s the principle.


This is the best lesson I can give anyone of you guys, it cost me a lot to get it and in the end I feel like I’ve only failed myself for not keeping better records, not rushing through things, and getting myself a lawyer. But what’s done is done and I am taking this lesson and passing it onto you. DO NOT let these cause intimidate you, you have right, it is your bike, not theirs and YOU paid for a policy they need to make good on. Best of luck to everyone, ride safe.

Final NOTE: if you live in NY and belong to an insurance company named UTICA MUTUAL GROUP, CANCEL your policy right away!

Cliffnotes: READ IT, IT WILL BENEFIT YOU IN THE LONG RUN

THESE STATEMENTS ABOVE ARE SOLE OPINIONS OF RonJ83, THEY ARE NOT ANYWAY ASSOCIATED WITH SPORTBIKEADDICTS.COM OR ANY OTHER FORUM THIS IS POSTED IN.
  Reply With Quote

Old 10-06-2006, 06:41 PM   #2
Kennedy
Cake Cop
 
Kennedy's Avatar
 
Kennedy is offline
Join Date: May 2005
Location: Central NJ
Posts: 2,042
Send a message via AIM to Kennedy
Default

Great right up.
__________________
Christopher




THE WICKED FLEE WHEN NO MAN PURSUETH BUT THE RIGHTEOUS ARE BOLD AS A LION
  Reply With Quote

Old 10-06-2006, 10:54 PM   #3
jcblitz
Having Troubles w/His Wood
 
jcblitz's Avatar
 
jcblitz is offline
Join Date: May 2005
Location: Yesterday
Posts: 1,608
Default

sticky this
__________________


Knowledge is free. We are Anonymous. We are Legion. We do not forgive. We do not forget. Expect us.

Minarchism
  Reply With Quote

Old 10-07-2006, 12:53 AM   #4
High_Revs_17
ron.google.com
 
High_Revs_17's Avatar
 
High_Revs_17 is offline
Join Date: May 2005
Posts: 3,971
Default

"sticky this"

Yes, this is worth a sticky.
__________________

'92 Honda CB747-Cafe'
  Reply With Quote

Old 10-07-2006, 01:01 AM   #5
High_Revs_17
ron.google.com
 
High_Revs_17's Avatar
 
High_Revs_17 is offline
Join Date: May 2005
Posts: 3,971
Default

Quote:
Originally Posted by RonJ83
Final NOTE: if you live in NY and belong to an insurance company named UTICA MUTUAL GROUP, CANCEL your policy right away!
Of all things listed here this should be the most pronounced.

Sorry this happened to ya Ron 2.0 but at least others can learn from it.
__________________

'92 Honda CB747-Cafe'
  Reply With Quote

Old 10-07-2006, 09:41 AM   #6
RonJ83
Ron 2.0
 
RonJ83's Avatar
 
RonJ83 is offline
Join Date: Sep 2005
Location: Staten Island
Posts: 477
Default

thanks for the support guys, ive already posted this on several sites that i visit, one site had a guy on the same insurance company and did the same thing to him. just passing the word out so no one gets shafted like i did.
  Reply With Quote

Old 10-07-2006, 09:45 AM   #7
John712
Puke Boy
 
John712's Avatar
 
John712 is offline
Join Date: May 2005
Location: 6 Million ways to die, choose one!
Posts: 4,126
Send a message via AIM to John712
Default

excellent write up, i went ahead and made it a sticky!

some people are dumb and blind when it comes to insurance companies and i was obe of them several years ago.
__________________
[SBA Referral Program] [Order you're SBA Stickers] [SBA Photo Gallery]


Cakes towards Ian on having to save money to see family in St Lucia.... 'or some girl u hadnt seen since kindergarten u just connected with on FB'? -

The Sportbike Website known around the
  Reply With Quote

Old 10-07-2006, 06:10 PM   #8
Marker54
State Farm Pimp
 
Marker54's Avatar
 
Marker54 is offline
Join Date: Feb 2006
Location: Bridgewater, NJ
Posts: 822
Default

Quote:
Originally Posted by John217
some people are dumb and blind when it comes to insurance companies
If you cant see so good, PM me. We'll take care of it.

Ron makes a lot of good points. Great info Bro!

Sorry guys, had to do it!!
__________________
State Farm Insurance
Single Bike Insurance & Financing. Life.
peter.gigantino.sp6h@statefarm.com

  Reply With Quote

Old 10-07-2006, 10:19 PM   #9
ronin_01r1
Throttle Lock
 
ronin_01r1's Avatar
 
ronin_01r1 is offline
Join Date: Jun 2005
Location: south jersey
Posts: 1,105
Default

what a shame. that ins co should be out of business.. good write up, thanks, i learned a few things from this.
__________________
SONG

2007 Kymco Grand Vista 250
2006 KTM 950 Supermoto
2001 Yamaha R1
1976 Honda CB360t
  Reply With Quote

Old 04-21-2008, 02:39 PM   #10
suzis_date
Short Shifter
 
suzis_date's Avatar
 
suzis_date is offline
Join Date: Sep 2006
Location: Dirty Jersey
Posts: 101
Send a message via AIM to suzis_date
Default

Good looking out, Ron!!
__________________
Suzis_date

I ride to fill in the gaps inbetween snowboarding seasons.....
  Reply With Quote

Old 04-21-2008, 03:39 PM   #11
Kurts1000RR
Tank Slapper
 
Kurts1000RR's Avatar
 
Kurts1000RR is offline
Join Date: Dec 2005
Location: Old Bridge, NJ
Posts: 335
Default

Ron I went through insurance hell in 2006 with Geico after my 2005 CBR1000RR was stolen in April of that year. They beat me on my claim and I ended up paying the remaining $5000 on my bike. It has to be one of the worst experiences anyone can go through.

P.S. I'm picking up my 2007 CBR1000RR on Wed.
__________________
Four wheels move the body two wheels move the soul.

MySpace MyWork
  Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT -4. The time now is 02:02 PM.
 

vBulletin skin developed by: eXtremepixels
Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.