My husband was in an accident with a car 10 days ago. It was the uninsured car driver's fault as they turned left from the right lane with no signal and cut him off on his motorcycle. He came away from it with the worst thing being a cracked metatarsal resulting in bruising and needing crutches. Witnesses' written statements put the car at fault saying the couple was seen arguing and not paying attention, even the one at fault attested to the same thing. However the faulty party didn't have insurance so we are using our collision insurance to pay for repairs.
The adjuster came and looked at the bike yesterday and this is the estimate he sent my husband later in the day:
Bike Value: 8893.43
Max repair: 5655.43
Cash out to you clean title: 5655.43-800.00 deductible=4854.43
We are confused by this and my husband will need to call him later and talk with him, but I wanted help understanding what is going on. So the bike is under loan with about $10,000 left to pay on it. So is what they are offering above to repair it and not total it? Husband has GAP insurance as well. So are they saying they will pay the $4854 towards repairs and then GAP insurance will pay the remainder up to the bike's value? But that will still leave another $1200 or so left of the loan. Or will the $4854 and the GAP insurance go to pay off the loan and then the repair has to come out of our pockets? And what if it's totaled? Then is it a totally different scenario? Because they are saying he would get a clean title out of it.
The adjuster came and looked at the bike yesterday and this is the estimate he sent my husband later in the day:
Bike Value: 8893.43
Max repair: 5655.43
Cash out to you clean title: 5655.43-800.00 deductible=4854.43
We are confused by this and my husband will need to call him later and talk with him, but I wanted help understanding what is going on. So the bike is under loan with about $10,000 left to pay on it. So is what they are offering above to repair it and not total it? Husband has GAP insurance as well. So are they saying they will pay the $4854 towards repairs and then GAP insurance will pay the remainder up to the bike's value? But that will still leave another $1200 or so left of the loan. Or will the $4854 and the GAP insurance go to pay off the loan and then the repair has to come out of our pockets? And what if it's totaled? Then is it a totally different scenario? Because they are saying he would get a clean title out of it.