Verbal valuations from bike dealers versus written valuations

**judecatmad** · 18th April 2007, 09:49

Really pissed off

As many of you know I had a stupid accident on my bike recently. The repair cost has come out at $3900..so she's a write-off.

The insurance assessors have been trying for 3 weeks to get written pre-accident valuations from 2 dealers.

One dealer gave a verbal over the phone - $3000. Great! (I thought)

The second dealer dragged their heels and finally came back with a written valuation of $3000.

Then the first dealer finally got their shit together and came back with a written valuation of $2500. $500 less than their verbal

I've given them a dressing down today over the phone. One comment that was made was 'maybe the person who gave the verbal valuation wasn't the right person', to which I replied 'then he shouldn't be giving valuations at all'.

I spoke to the dealer we bought the bike from (up in Auckland) and they would happily value it at $2795. It's got low k's and was in pretty good nick prior to the accident. A well looked after bike, albeit just a ginny.

I could scream I'm so annoyed.

Now there will be averaging applied, and I'll come out with $250 less than if the first dealer had stood by their verbal valuation. Might not sound like much, but we're struggling to afford to replace the bike in the first place, so it makes a hell of a difference to us.

**Macktheknife** · 18th April 2007, 09:58

Bugger, bad luck JCM, sorry to hear about this but keep it in perspective, you are ok, money can be made even if it takes time.
Best of luck.

**dnos** · 18th April 2007, 10:01

Yup, I know what you mean.

I had a similar thing happen a while ago when the insurance company got a valuation from a local dealer for a work ute. He gave a stupidly low valuation so i went to visit for a chat. I asked him to "go ahead and find me a replacement vehicle for the quoted price" to which he replied that he couldn't.
So I told him he was a c#*% and perhaps he should let the insurance company know of this fact.
It all got sorted in the end but what a pain in the arse. Insurance companies don't need any help fucking us over so any dealer giving a valuation should really do it properly. GRRRRRRRRRRRRRRR

Feel sorry for ya JCM all the best with replacing ya ride.

**Roj** · 18th April 2007, 10:04

Damned insurance company will always take the lowest value, they will have come up with their own figure and average that with the lowest figure you get

Unfortunately it comes down to you needing the money so the insurance company can drag their heels till you agree....

Hopefully it won't take to long and you will be back on 2 wheels

**surfer** · 18th April 2007, 10:10

Be firm and tell the insurance company that the bike is worth much more than the valuation and that you are not happy; tell them the amount that you want.

They may come back with a higher offer than their original offer.

**crashe** · 18th April 2007, 10:12

So are you going to buy the bike back at a really cheap price to use it for parts on your partners bike?

If so Im after the rear shocks....... if they werent damaged at all.

**judecatmad** · 18th April 2007, 10:14

Originally Posted by surfer

Be firm and tell the insurance company that the bike is worth much more than the valuation and that you are not happy; tell them the amount that you want.

They may come back with a higher offer than their original offer.

Trouble is, now that they have the $2500 written valuation, they can't ignore it. So unless this dealer pulls their head out of their arse and decides to stand by their verbal (which they won't, I've spoken to them about it), I'm screwed.

The insurance company knows I'm not happy, but there's no point my standing my ground. And there's not exactly many dealers to choose from in the area.

It's the dealer I'm pissed off with, not the insurance company.

**ManDownUnder** · 18th April 2007, 10:35

Is it too late to get a few more valuations. Keeping ringing around till you have 3 that all come in at $3k and you'll be sweet.

They take the average figure - so... give them good figures to average!

**judecatmad** · 18th April 2007, 10:43

Originally Posted by ManDownUnder

Is it too late to get a few more valuations. Keeping ringing around till you have 3 that all come in at $3k and you'll be sweet.

They take the average figure - so... give them good figures to average!

No, I spoke to them about that and as they've paid for the valuations they have to date, they can't pretend as though the $2500 one never came in. It's the assessment company I'm dealing with at the mo, rather than the insurance company, and they're being really good about it. They are going to see if there's any way on god's earth they can get the cost of repairs down to something like what might constitute a repair job (but with an average value of $2750 rather than $3000, they have less money to play with than before).

They will only work with 3 valuations at most, so unless I get one that comes in at over $3000 (which ain't gonna happen!), I'm stuck with $2750. Unless, as I say, the first dealer comes to the party.

Oh well, it's less money I have to spend on a new bike, and so less chance I'll be going to them to buy it when the time comes. What goes around, comes around.

**cowpoos** · 18th April 2007, 10:54

Originally Posted by judecatmad

No, I spoke to them about that and as they've paid for the valuations they have to date, they can't pretend as though the $2500 one never came in. It's the assessment company I'm dealing with at the mo, rather than the insurance company, and they're being really good about it. They are going to see if there's any way on god's earth they can get the cost of repairs down to something like what might constitute a repair job (but with an average value of $2750 rather than $3000, they have less money to play with than before).

They will only work with 3 valuations at most, so unless I get one that comes in at over $3000 (which ain't gonna happen!), I'm stuck with $2750. Unless, as I say, the first dealer comes to the party.

Oh well, it's less money I have to spend on a new bike, and so less chance I'll be going to them to buy it when the time comes. What goes around, comes around.

so you have to take you excess off that to???

**ManDownUnder** · 18th April 2007, 10:55

Originally Posted by judecatmad

Oh well, it's less money I have to spend on a new bike, and so less chance I'll be going to them to buy it when the time comes. What goes around, comes around.

Be sure to let them know... in a non flaming bridge kinda way

**judecatmad** · 18th April 2007, 10:58

Originally Posted by cowpoos

so you have to take you excess off that to???

Too right

It will be a long, long time before I'm back on 2 wheels and I get so angry at myself every time I go back through the stupid accident in my head.

**judecatmad** · 18th April 2007, 11:01

Originally Posted by ManDownUnder

Be sure to let them know... in a non flaming bridge kinda way

Nah, not worth it. One piddly (poor) ginny rider isn't going to bother them overly. It's not like I have thousands at my disposal for spending on a big new bike. No great loss to them.

**Crasherfromwayback** · 18th April 2007, 11:25

Originally Posted by judecatmad

Trouble is, now that they have the $2500 written valuation, they can't ignore it. So unless this dealer pulls their head out of their arse and decides to stand by their verbal (which they won't, I've spoken to them about it), I'm screwed.

The insurance company knows I'm not happy, but there's no point my standing my ground. And there's not exactly many dealers to choose from in the area.

It's the dealer I'm pissed off with, not the insurance company.

Well Jude, I'd like to answer your post with this.
I normally do all of the valuations here, but in this instance Hamish did it.
He came to see me this morning after you'd called.
I don't know who the hell would've said the bike was worth $3000.00....and I certainly wouldn't. If a 2005 USED GN 250 was sitting on our floor....with 8700 km's on it.....at $3000.00...with a BRAND NEW GN250 next to it at $3700.00 (on the road AND with 12 months warranty)....would you buy it? Or the NEW one?

The ones that need to get their heads out of their arse, are the ones that valued it at $3000.00.

I have a responsibility to the insurance companies to give honest and accurate valuations. They give us work. And while customers do too......we can only do our best to keep both sides happy.

So I am sorry for the fact you're dissappointed.....and I've asked around and can't find the 'culprit'....but rest assured, I'm more than happy with the PAV.

Pete McDonald
Wellington Motorcycles.

**Crasherfromwayback** · 18th April 2007, 11:30

Originally Posted by judecatmad

I spoke to the dealer we bought the bike from (up in Auckland) and they would happily value it at $2795.

Originally Posted by judecatmad

They Oh well, it's less money I have to spend on a new bike, and so less chance I'll be going to them to buy it when the time comes. What goes around, comes around.

It's a shame, but looks like we'll miss out on your next purchase too!