FAQ's: Your Questions Answered
Motorcycle Accident FAQs
Following a motorcycle accident, there are two types of claims that can be pursued. The first is for injuries and the second is for damages to your motorcycle. When filing a claim for the damage to your motorcycle a lot will depend on whether or not you carry Collision Coverage on your own policy. If you carry Collision Coverage you will be able to go through your own insurance company for any damages to your motorcycle. If not, you will need to pursue a claim against the at-fault party’s Property Damage Liability Coverage (PDL).
PDL will cover damages that the insured driver causes to another driver’s property in an accident. In Florida, it is mandatory for each driver to carry at least $10,000 in PDL coverage. Anytime you are in an accident in which another driver is at fault, you always have the option of pursuing a claim against the other party’s PDL.
While Collision Coverage is not a mandatory coverage in Florida we highly recommend it. Collision Coverage is an elective coverage that will cover damages to your motorcycle in the case that you are struck by an at-fault uninsured or underinsured driver. Call Dan Newlin Injury Attorneys at 800-257-1822 to speak with a Collision Coverage expert. We will gladly review your insurance policy and find ways to better protect you and even save money on your policy.
Insurance companies will make the decision on whether to repair, replace or reimburse you for your motorcycle’s actual cash value (ACV) or fair market value. The insurance company will decide which option they want to use based on cost efficiency. This means that in an instance that it is cheaper to replace your motorcycle than it is to repair it, they will always go with the cheaper option for them. If the appraised damages to your motorcycle equal 80% of the motorcycle’s ACV the insurance company will most likely replace the bike rather than repair it due to hidden costs and additional damages. Before deciding on an insurance policy, it is important to understand that the fair market value of your motorcycle may be lower than the Kelly Blue Book price. If you took out a loan on your car or motorcycle and you owe more on the vehicle than the appraised fair market value, you are considered “upside down” on the loan. Unfortunately, the insurance company will only reimburse you up to the fair market value.
Yes, The reason insurance companies are able to restore your motorcycle with used or refurbished parts is because your vehicle is most likely not new. Original equipment manufacturer (OEM) parts and aftermarket parts may be used for the repair. This means that your insurance company can use parts made by a company other than the original manufacturer. In some cases, the insurance company may not be able to find a part of equal value to your damaged parts. If you choose for the repair shop to use a new part you will be responsible for paying the difference between the two values. Fortunately, you have the right to choose which repair shop you use.
As long as the repair shop is licensed, you have an absolute right to choose which motorcycle repair shop you will use. Insurance companies will evaluate the price to repair your vehicle independently and will then work with the repair shop of your choice to get your motorcycle repaired.
Call Dan Newlin Injury Attorneys at 800-257-1822. My staff and I always consider it an honor to be contacted by the victims of motorcycle accidents, and we will always be ready to listen to all of your concerns. Although many lawyers and law firms refuse to assist with property damage claims, know that we will always be willing to handle your property damage claim at no additional cost to you! Normally, you have many options concerning repairing or replacing your motorcycle. These are options that the insurance companies will not always present to you. Before making any decisions or accepting any compensation from the insurance company, call me today for free legal advice as to how best to handle your property damage claim.