Expert: Richard Hixenbaugh - 5/8/2009

Question
So I took my motorcycle to a local shop to get some work done.  Two days later they call me to tell me I can come pick it up that afternoon.  When I get there, the mechanics just finised the work and take it for a test ride.  Minutes later I see the mechanic walking back injured and tells me he wrecked my bike.  The owner says he's going to have his insurance take care of it and they should contact me.  It's been 3 weeks now and I have heard nothing from their insurance.  Two adjusters have been out and from what I am told from the workers at the shop, the motorcycle is totaled.  My question is how long do insurance company's have to settle a claim and reimburse me for the motorcycle.  The bank still owns the motorcycle and I am coming up on another installment.  I don't want to keep paying for something I don't have anymore.  What is the timeline for payouts?

Answer
Hi Brian,

Generally, claim should be paid within 30 days from the time it was reported.

You need to call the claims adjuster and push them to get their act together. Call every day if needed. "The squeaky wheel gets the grease". You should also research the value of your bike because they will likely try to low ball the value. You need to be ready to negotiate the value based on the info you come up with in your research.

I hope this helps
Richard Hixenbaugh