When we hear the term "totaled," we often envision a motorcycle crumpled into a ball after an auto accident. However, in insurance terms, "totaled" or "total loss" refers to a vehicle whose repair costs exceed its actual cash value. When your motorcycle reaches this stage, our team can discuss your options.
Does Motorcycle Insurance Cover Total Loss Bikes?
Motorcycle insurance covers the actual cash value of totaled bikes, which may be lower than the price you paid for it. Any remaining amount is your responsibility. To determine the actual cash value of your motorcycle, Rock Hard Insurance Agency considers factors such as:
- Age
- Condition/Maintenance
- Mileage
- Market Value
- Current Value of Similar Motorcycles in Fontana, CA
- Independent Vehicle Guide Valuations
- Depreciation
- Supply and Demand in Fontana, CA
- Modifications and Upgrades
- Salvage Value
California law defines total loss as a situation where the salvage value plus the cost of repairs is equal to or greater than the actual cash value. We may use other estimates and assessments that are not on the list.
Who and What Pays for Total Loss Motorcycles?
California is an at-fault state, so if another driver caused the accident, the driver’s motorcycle insurance pays for it. If you’re at fault, you use your motorcycle insurance. The cause of the totaled motorcycle determines the type of coverage used.
Collision covers motorcycles totaled in an accident with a vehicle or object. Property damage liability covers motorcycles totaled in a motorcycle accident. Comprehensive covers motorcycles totaled in severe weather, fire, vandalism, theft, or animal accident. Uninsured/underinsured motorist covers motorcycles totaled in any accident where the at-fault driver has little or no insurance. Total loss insurance covers totaled bikes two years old or less.
That simplifies how motorcycle insurance operates in a total loss situation. Rock Hard Insurance Agency will talk more about the details and complexities of motorcycle insurance. Call 909-641-5067 or visit our office for more information.
