Insurance Scam

[Operator]

Insurance companies don't write off bikes/vehicles like in the old days.....

What they do is they let you fill in a change of ownership form (Yellow form from traffic dept)
and then they pay you out.
They then sell the "wreck" to a wreckdealer with the change of ownership paper as
part of the deal.
This way the wreckdealer is willing to pay a lot more for the wreck, because he can repair
and sell the bike as a standard registered bike and not a code 3.

At first I thought this was weird and investigated.......
It turned out that the insurance company is well within their rights to do this.

What the consumer must be aware of, is to make sure they don't buy one of these so called "written-off" bikes for a bargain.

[Big H]

Your buddy is sitting with a code 3 bike, lets wait and see how much he get for the bike when he wants to sell.

I don't know all the details, but I'm pretty sure you are correct.

Anyway, we all agree that the whole process is fishy, to say the least. 

Even if the brand-new, written-off bike handles like a young prostitute... 

[Hondsekierie]

Insurance companies don't write off bikes/vehicles like in the old days.....

What they do is they let you fill in a change of ownership form (Yellow form from traffic dept)
and then they pay you out.
They then sell the "wreck" to a wreckdealer with the change of ownership paper.
This way the wreckdealer is willing to pay a lot more for the wreck, because he can repair
and sell the bike as a standard registered bike and not a code 3.

At first I thought this was weird and investigated.......
It turned out that the insurance company is well within their rights to do this.

What the consumer must be aware of, to make sure they don't buy one of these so called "written-off" bikes for a bargain.

And that's where the paw paw normally hits the fan for the unsuspected buyer

I would suggest that whenever you buy an expensive bike (relative to one's budget) is to actually request full insurance particulars for the said bike and to enquire from the insurance company all claims particulars recorded for the bike.  Also get pics of the damage and make your decision whather you can live with your decision to pay the asking price.

My ,02c

[Wooly Bugger]

Who is he insured through?

When BMW quote to repair a bike, they quote for EVERYTHING....that type of quote is quite possible.

But getting phone calls very soon after the quote is a bit suspect...

I agree. Obviously it's an inside job. Shoot the farkers......Shark_Za, where is that Glock aresenal of yours?