Is the Total Loss Value on a Motorcycle Negotiable?

The total loss value on a motorcycle is negotiable. That said, getting the insurance company to increase their offer can be a difficult and confusing process. Hiring an experienced Atlanta motorcycle accident lawyer can give you the support and resources you need to negotiate effectively.

Unfortunately, insurance companies are always looking for ways to provide you with as little compensation as possible. However, when they see that you’re working with an attorney, they may change their tune and offer the payment you need to move forward from this difficult situation.

How Insurers Calculate Total Loss Value on a Motorcycle

Before you try to negotiate the total loss value on a motorcycle, you’ll want to learn how insurers calculate total loss value. They do so by looking to see if the cost of repairs to get your bike back on the road would exceed the cash value of your motorcycle before it was damaged.

If the cost of repairs exceeds the value of the bike, your vehicle will be considered totaled. In this case, the insurer will end up paying you the cost of the vehicle so you can purchase a new bike. However, insurers aren’t always honest when providing compensation for a totaled vehicle.

To make sure you get the payment you deserve, you’ll want to work with a dedicated attorney. A lawyer can help you understand the negotiation process and work with the insurance company to get the highest amount of compensation possible.

How the Cash Value of Your Bike Is Calculated

When negotiating the total loss value of a motorcycle, it’s also important to understand how the cash value of a totaled bike is calculated. When determining how much your motorcycle was worth before it was totaled, the insurer will consider the following factors:

• The make and model of your bike
• The year of the motorcycle
• Any upgrades you made to the bike
• The bike’s physical condition before the crash
• And other factors

Consulting with a skilled attorney can give you a deeper understanding of how a cash value is calculated. Once you understand how insurers assign a value to your vehicle, you’ll be able to negotiate the total loss value of your motorcycle from a more informed position, which will increase your chances of receiving a fair payment. 

A Lawyer Can Help You Negotiate the Total Loss Value of Your Motorcycle

If you’ve been injured in a bike crash, you might not have the time or energy to calculate how much you should receive from the insurance company and negotiate a better payment. The good news is that an attorney can handle all of that for you. A lawyer can assess your vehicle, determine what its cash value is, and communicate with the insurance provider.

Remember, accepting an early settlement offer from the insurance company is almost never advisable. Insurers will go to great lengths to avoid giving you the payment you’re owed, so it’s always best to play it safe and have a lawyer review any offers you receive.

An attorney can determine if an offer is large enough to cover the cost of a new vehicle, negotiate for a better payment, and even obtain compensation for other losses you’ve incurred due to the bike crash. With a dedicated legal representative by your side, you’ll have an excellent chance of getting the financial support you need from your insurance claim.

Compensation a Motorcycle Accident Lawyer Can Pursue for You

In addition to explaining if the total loss value on your motorcycle isn’t negotiable, a lawyer can also pursue a number of damages to help you recover from your bike crash. Depending on how the accident has impacted your health, finances, and other aspects of your life, an attorney may pursue any of the following forms of compensation for you:

• Current medical costs
• Future medical expenses
• Cost of physical therapy
• Lost wages
• Decreased earning ability
• Pain and suffering
• Emotional distress
• Loss of enjoyment of life

As you can see, there are many types of helpful damages a lawyer can pursue for you after an accident. You’ll want to provide your attorney with copies of your medical bills and other records that document the losses you’ve incurred due to your collision so they can pursue comprehensive compensation on your behalf. 

Schedule a Free Consultation With a Skilled Motorcycle Accident Lawyer

Now that you know more about whether the total loss value on your motorcycle is negotiable, it’s time to get the legal guidance and representation you need to obtain a fair settlement. At John Foy & Associates, we have decades of experience representing individuals like you in these types of situations.

Contact us today to schedule a free consultation with a motorcycle accident lawyer from our firm. We’ll meet with you to discuss the accident you were involved in, answer any questions you have, and advise you on your best course of action moving forward. We look forward to hearing from you soon.