Bike crash insurance questions

I have spoken with the insurance adjuster after being hit by a car
running a red light last week and the biggest question mark so far
concerning a settlement is the salvage value of the bike. Repair
estimates are easy, but salvage value is a matter of opinion. The bike
was four days old and 100% mint at the time of the accident. Here is the
bike and damage detailed:

2004 Cannondale CAAD5 frameset 55cm - slight cosmetic damage to left
fork blade, no apparent structural damage to fork or frame under casual
inspection

2004 Campy Centaur group set including hubs - derailleur damaged, minor
damage to skewers, and right Ergo lever

Mavic Open Pro rims - Front bent in accident, rear wheel loose spokes
and off dish

Fizik Aliante full carbon leather saddle - a few very small rips in
leather

Shimano PD-R600 pedals - major scratches and gouges

Deda 215 Shallow handlebar

Ritchey WCS stem

American Classic seatpost

Conti Ultra 3000 tires

Shimano SH-R151 shoes - major scrapes and gouges

Drivetrain is noisy, suspect bent derailleur hanger, possibly frame.
Head tube, fork and headset absorbed most of the impact from the crash.
Stem was forced out of line and forced up the steerer tube. Headset was
very loose after the accident and could not be adjusted by me. A bike
mechanic reset it, against my instructions, but said structural damage
was unknown.

Repair estimates from bike shops equal or exceed the $2100 I have
invested in it from GVH Bikes. The frame has not been thoroughly
examined, but appears to be OK. GVH Bikes can replace the frame and fork
for $600 and the fork will be replaced regardless, so investing money
into examining the frame isn't very cost effective. Many parts are still
indistinguishable from new, but advice from bike shops varies widely as
to their fitness for their intended purpose. Some say all load bearing
parts should be scrapped for the sake of safety, others take the
attitude that if it doesn't look damaged, then don't worry about it.
Safely concerns aside, one problem is that the warranties on all of the
parts are gone now and, IMO, everything that isn't damaged should be
depreciated to the value of used parts.

I know that the bike is basically a total loss, in spite of the fact
that it could probably be fixed up and see years of trouble-free
service. But the insurance company wants a salvage value, either for
reduction of the settlement to me, or to sell it on their own. Honestly,
I don't know what they intend to do with it. So does anyone want to
offer an opinion as to the value of the bike in its current condition?
One approach I intend to offer to the insurance company is to put it on
eBay, exactly as described here and let the market decide. They can then
pay me the difference.

If you have no major physical injuries, they are lucky as hell and
should be ecstatic to get off with replacing your bike. When I had an
accident, the insurance guy was almost begging me to buy more parts
the more I talked about the ache in my shoulder. Make them replace it
and they can figure out what to do with the old one.


On Mon, 06 Sep 2004 17:53:56 GMT, SuperSlinky
wrote:

I have spoken with the insurance adjuster after being hit by a car
running a red light last week and the biggest question mark so far
concerning a settlement is the salvage value of the bike. Repair
estimates are easy, but salvage value is a matter of opinion.

Ask them this- would they ride this bike themselves?

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

If you have no major physical injuries, they are lucky as hell and
should be ecstatic to get off with replacing your bike. When I had an
accident, the insurance guy was almost begging me to buy more parts
the more I talked about the ache in my shoulder. Make them replace it
and they can figure out what to do with the old one.


On Mon, 06 Sep 2004 17:53:56 GMT, SuperSlinky
wrote:

I have spoken with the insurance adjuster after being hit by a car
running a red light last week and the biggest question mark so far
concerning a settlement is the salvage value of the bike. Repair
estimates are easy, but salvage value is a matter of opinion.

Ask them this- would they ride this bike themselves?

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

On Mon, 06 Sep 2004 11:43:49 -0700, Dan Daniel
wrote:

Ask them this- would they ride this bike themselves?

Correction: would they ride this bike on a 40-50mph descent from the local
mountains.

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

Depends on what kind of frame. Aluminum or carbon and it needs total
replacement, I'm thinking.

-B

On Mon, 06 Sep 2004 11:43:49 -0700, Dan Daniel
wrote:

Ask them this- would they ride this bike themselves?

Correction: would they ride this bike on a 40-50mph descent from the local
mountains.

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

Depends on what kind of frame. Aluminum or carbon and it needs total
replacement, I'm thinking.

-B

"SuperSlinky" wrote in message
t...

I know that the bike is basically a total loss, in spite of the fact
that it could probably be fixed up and see years of trouble-free
service. But the insurance company wants a salvage value, either for
reduction of the settlement to me, or to sell it on their own. Honestly,
I don't know what they intend to do with it. So does anyone want to
offer an opinion as to the value of the bike in its current condition?
One approach I intend to offer to the insurance company is to put it on
eBay, exactly as described here and let the market decide. They can then
pay me the difference.

"Salvage value" is what some shop or person would pay for it in its present
condition. However it's been my experience that "salvage value" is what the
insurance company would receive from the shop or person that bought it AFTER
they had settled the claim with you. In other words assume that the bike is
totalled, you receive a check for the replacement of the bike, the the
insurance company would sell the damaged bike for its "salvage value". I've
not seen a second party's insurance company deduct salvage value from the
settlement to the injured part.

If you have auto insurance, you might want to contact your agent and seek
their help. It sounds like the other person's insurance company is playing a
little hard with you.

"SuperSlinky" wrote in message
t...

I know that the bike is basically a total loss, in spite of the fact
that it could probably be fixed up and see years of trouble-free
service. But the insurance company wants a salvage value, either for
reduction of the settlement to me, or to sell it on their own. Honestly,
I don't know what they intend to do with it. So does anyone want to
offer an opinion as to the value of the bike in its current condition?
One approach I intend to offer to the insurance company is to put it on
eBay, exactly as described here and let the market decide. They can then
pay me the difference.

"Salvage value" is what some shop or person would pay for it in its present
condition. However it's been my experience that "salvage value" is what the
insurance company would receive from the shop or person that bought it AFTER
they had settled the claim with you. In other words assume that the bike is
totalled, you receive a check for the replacement of the bike, the the
insurance company would sell the damaged bike for its "salvage value". I've
not seen a second party's insurance company deduct salvage value from the
settlement to the injured part.

If you have auto insurance, you might want to contact your agent and seek
their help. It sounds like the other person's insurance company is playing a
little hard with you.

Ask them this- would they ride this bike themselves?

great idea..it's Aluminium, if it's caad5 I don't no if it's optimo
tubing like the caad7, but I know I wouldn't ride either again....

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

in my eyes a 4 day old bike deserves a full replacement.....

Ask them this- would they ride this bike themselves?

great idea..it's Aluminium, if it's caad5 I don't no if it's optimo
tubing like the caad7, but I know I wouldn't ride either again....

If not a full replacement, any part with *any* sign of damage should
be replaced by them. Plus labor for the reassembly and swap overs.

in my eyes a 4 day old bike deserves a full replacement.....

"SuperSlinky" wrote in message
t...
I have spoken with the insurance adjuster after being hit by a car
running a red light last week and the biggest question mark so far
concerning a settlement is the salvage value of the bike.

Repair estimates from bike shops equal or exceed the $2100 I have
invested in it from GVH Bikes. The frame has not been thoroughly
examined, but appears to be OK. GVH Bikes can replace the frame and fork
for $600 and the fork will be replaced regardless, so investing money
into examining the frame isn't very cost effective. Many parts are still
indistinguishable from new, but advice from bike shops varies widely as
to their fitness for their intended purpose. Some say all load bearing
parts should be scrapped for the sake of safety, others take the
attitude that if it doesn't look damaged, then don't worry about it.
Safely concerns aside, one problem is that the warranties on all of the
parts are gone now and, IMO, everything that isn't damaged should be
depreciated to the value of used parts.

Another point; if you have two or more legitimate repair estimates from
recognized LBS where the repairs exceed the value of the bike, the bike is a
total loss, regardless of 'salvage value'. If you can document everything
you've said, about the other person running the red light (police report?)
repairs exceeding the value of the bike, you have a very strong case for a
speedy and FULL settlement of the bike and a perhaps a civil lawsuit against
that driver. If you stand your ground, present your case strongly and
forcefully (but in a dignified manner) you will be made whole again.