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Thread: Brand New Bike - Crashed!!! Reply to Thread
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  Topic Review (Newest First)
11-23-2017 09:16 AM
lau Wow, glad you are ok. Enjoy that 6 and don’t sell the Rex . I regret selling mine.
I have a track 10 05, and a street 08.
Be safe nasty road conditions are upon you.
08-25-2017 11:40 PM
cmbnyc To clarify things a little, I had a loan on the bike. The insurance rep said they'd pay off the bank directly and the remaining amount (value of the bike) would be sent to me in the form of a check but it had to be made out to a dealership along with my name on it. The rep said I didn't have to buy a new/used bike with it, I could buy gear or whatever I liked, but he said they couldn't issue a check directly to me because they wanted to make sure the money went toward something motorcycle related. I didn't read the fine print of my insurance contract, but guess it may not be a bad idea now to do so.

Anyway, I finally pulled the trigger today and decided to buy a new (leftover) black non-ABS 2016 ZX6R from my local dealership who I trust and have a great relationship (platonic) with. LOL They offered a great deal on the bike as well so I'm very happy. In addition to saving $3000 over buying a new non-ABS 2016 ZX10R I'll also be saving close to $600 a year in insurance. Still have to wait another 4 weeks at least to heal from my injuries before I can entertain riding the ZX6R, but that will give me plenty of time to obsess about mods (exhaust, frame sliders, fender eliminator, etc.).

So it looks like this long and winding thread will be coming to an end. I'll probably be spending time over at the ZX6R forum. I just want to thank you all for your feedback and words of encouragement relating to my accident and injuries. I don't even harbor any ill-will toward LDH anymore and wish all the best for him. In the end, we may have our differences and attitudes, but we all share the common joy of riding and all face the same risks. Be well everyone and keep the sticky side down, unless you're doing a wheelie of course, and be careful out there. Peace out!
08-25-2017 06:02 AM
obijack
Quote:
Originally Posted by SkyDork View Post
Hmmm. Yes, and no. This seems a bit oversimplified. In the US it would depend on whether or not there's a loan (lien holder) on the bike. If the bike is stolen, after a 30 day waiting period to make sure it's not recovered, then they value the bike and cut a check to the lien holder to pay off the loan. If there is any money left over, it goes to the borrower. If the value of the bike is less than the loan value, then the borrower still owes money to satisfy the loan unless there's Gap insurance in addition to the primary insurance.

But yeah. The insurance wouldn't require a new bike to be purchased from a dealership or anything because only the loss is covered. This of course presumes that there's no "new bike replacement" clause in the policy like some cars. If so, they may be satisfying the terms of that by requiring the payout to replace the bike go to a dealer. But I don't know the terms of the policy.

Good luck with getting this all worked out and back on the road!
Your right, I did not point out what is obvious to me (and should be (but most likely is not) to every one who has entered into an installment contract for the purchase of anything on credit, secured by a promissory note and security agreement) in every secured transaction involving negotiable instruments used to purchase consumer goods.
I was not trying to explain every possible contest regarding potential payees under articles 2, 3, and 9 of the UCC. Instead, I was just pointing to the absurdity in the OP's insurance contract while reflecting on the US vis-a-vis the State's regulation of such contracts compared to the UK's same regulation. The way OP may it sound he had no choice but to buy a another motorcycle or face breaching his contract. I would never contract to do that without receiving a substantial discount on premiums. Why limit what you are able to recover, for free, unless it is a funky government regulation that literally gave you no choice.
08-24-2017 07:58 AM
SkyDork
Quote:
Originally Posted by obijack View Post
In the US, doesn't matter if the bike/car is stolen, wrecked, etc. you as the policy holder, get the insurance pay out, the end. There are no strings about well you have to get a bike from a license dealer because we want to make sure you get another bike. That makes ZERO sense. What if you didn't want another bike. What if you needed the money for doctors bills after a wreck, etc. You should read your contracts to make sure that is indeed the case. I think if that is a country wide deal in the U.K. i'd be going to Lloyds for insurance as they will insure anything for any amount.
Hmmm. Yes, and no. This seems a bit oversimplified. In the US it would depend on whether or not there's a loan (lien holder) on the bike. If the bike is stolen, after a 30 day waiting period to make sure it's not recovered, then they value the bike and cut a check to the lien holder to pay off the loan. If there is any money left over, it goes to the borrower. If the value of the bike is less than the loan value, then the borrower still owes money to satisfy the loan unless there's Gap insurance in addition to the primary insurance.

But yeah. The insurance wouldn't require a new bike to be purchased from a dealership or anything because only the loss is covered. This of course presumes that there's no "new bike replacement" clause in the policy like some cars. If so, they may be satisfying the terms of that by requiring the payout to replace the bike go to a dealer. But I don't know the terms of the policy.

Good luck with getting this all worked out and back on the road!
08-24-2017 07:33 AM
obijack In the US, doesn't matter if the bike/car is stolen, wrecked, etc. you as the policy holder, get the insurance pay out, the end. There are no strings about well you have to get a bike from a license dealer because we want to make sure you get another bike. That makes ZERO sense. What if you didn't want another bike. What if you needed the money for doctors bills after a wreck, etc. You should read your contracts to make sure that is indeed the case. I think if that is a country wide deal in the U.K. i'd be going to Lloyds for insurance as they will insure anything for any amount.
08-24-2017 02:30 AM
cmbnyc
Quote:
Originally Posted by ukzx10r View Post
Sorry to hear this. I had simular problem on way to a trackday where my rucksack came undone.
My shoe fell out at 90mph.
I had no idea it was working loose. Couldnt feel anything at all.
Think you were just very unlucky
Very unlucky indeed, I was. But, as several good friends who ride have pointed out, it could have been much worse. If I had crashed just 30 minutes earlier when I was on a busy highway with tractor trailers all around me, I surely would have been run over. Cup half full/empty kind of way to look at it I guess.
08-24-2017 02:24 AM
cmbnyc
Quote:
Originally Posted by 10Arghh View Post
Thanks cmbnyc...Yeah bike theft is very common in UK especially in or near London where many high end models are stolen a day...The Police have their hands tied with no pursuit bullshit and the thieves (mostly teens to early twenties) are even riding around on the stolen bikes and posing with them on Facebook and Instagram.

Anyway, yeah the bike is gone but I had fire and theft cover so I'm waiting on what the insurance company offer (you never get back the value you paid).

As for you, I'd say, a sports bike is not the most logical vehicle for commuting and as you have a tourer, it's not really necessary...

But...we don't do this for logical reasons...Otherwise you'd get (in the UK) a nice comfy hatchback for a similar price to a litre sports.

If you don't get another 10R after owning one for such a short time and not really building memories with it, it will feel like the one that got away, and even if you have a 6R which is probably the best 600, you may still feel like 'what-if'.

Go for what you want...not what you should get...because you could have been killed in what just happened to you.

Basically, as long as you can afford it and it's not going to put a strain on finances...get the bike you want and enjoy life for now.
Hope you can get another ZX10R that fits the bill with the money you get from insurance.

I'm sure I'd be happy with the ZX6R and in fact it may compliment the ZRX1200R perfectly since they are not only completely different bikes in terms of weight and handling, but also engine size and characteristics. The ZX6R powerband is also more usable/practical in day-to-day riding, even though it can be deadly fast like any modern supersport. I just keep finding myself drawn to the ZX10R like a moth to the flame for visceral reasons as well as the fact I love the styling and found it a little more planted and comfortable over the ZX6R for street riding. Since I still have a ways to go until my arm will be healed enough to ride again, I have plenty of time to continue the internal debate. LOL
08-24-2017 02:13 AM
cmbnyc
Quote:
Originally Posted by 10Arghh View Post
Oh if you can get them in the US...I recommend Kriega rucksacks...Not cheap but have 10 year warranty and are very secure at keeping your stuff inside the bag rather than out.
https://kriega.com/riderpacks/
They look really nice. Will see if there is a distributor in the US. Thanks!
08-24-2017 02:12 AM
cmbnyc
Quote:
Originally Posted by Porschenut View Post
If I was in your shoes, I'd take the insurance money and buy a 2011 ZX10r since it's nearly the exact same bike as the one that was wrecked. You'll save soooo much money and probably find a bike that already has an exhaust, is flashed etc. etc.
I wish I could take the money and buy a used bike out on the open market, but the insurance company will only make the check out to an official dealer along with my name. The rep told me this is to make sure that I use the money to buy another bike. But the rep said if I go ahead and buy a bike from a private seller, forking out my own money first, and then present them with the registration receipt from the department of motor vehicles, then they can make the check out to me personally. This complicates things because I need to take a loan out on a good portion of the total cost either way and for the best interest rate on a loan the bank prefers the bike is purchased directly from a dealership. If I can find a dealership within a reasonable distance with a decent, used gen 4 ZX10R, then I may end up buying it that way. Will have to do a little looking around. My local/preferred dealership has no such bike.
08-22-2017 07:57 PM
10Arghh Oh if you can get them in the US...I recommend Kriega rucksacks...Not cheap but have 10 year warranty and are very secure at keeping your stuff inside the bag rather than out.
https://kriega.com/riderpacks/
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