My 09 S may be totaled- what should I expect for a buy back cost?
Ins. Buy back after crash?
Eric Carroll
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First of all depends on your POLICY. Every insurance company handles salvage differently but most states have laws protecting the consumer (you) . The RZR belongs to you until you release it to them. The adjusters job is to settle the claim for the least amount of net loss. They have a pretty good idea what your RZR will bring at auction after they do a conditioning report which is the first step. ASK to see this if you think their offer isnt fair. If you dissagree with something on it say so but like another poster said the adjuster can work with you but thats not always the case. Remember they want to get the claim settled in hopefully the easiest/fastest way possible. If the net payout is less and your happy they look good to their boss and everybody is happy. Don't just blindly accept anything they tell you or necessairly take their first offer. Most of the time you can retain salvage from 20-30% of the total settlement offer.So if your total claim is 10,000 you should be at 2,000-3,000. Several things will depend on whether it is on the low end or the high end. if you have a nice low mile machine that will bring top dollar expect to pay more. A high mile rough unit will be lower. Just like buying a used car. Remember agreeing to a deal with you actually is cheaper and easier for them . They don't have to pay to move it to the salvage pool or pay the acution commission or any of the titleing hassels or expenses. Just cut you a check and get you to sign off and the claim is done. Final say will be with the claim handler although the adjuster(depending on the ins company) will have a certain amount of authority. Whenever they make you an offer, counter with at least a little less. remember your making their life easier by retaining salvage. most time the insure company nets 15-25% MORE by you retaining salvage. I've NEVER had to pay more than 30%.
Here's my guess ...lets see hoe close I get. 09 S, Guess average condition, average miles etc. I see them sell for 8500-9000 with a few add on's. So we'll guess they will offer 8,000 ACV (actual cash value) straight out to settle . Also guessing they will offer for you to retain salvage for 2,850. For a net payment to you of 5150 and you keep it.
i don't know what the book value of an 09 S is or what your actual condition is so you would need to agree on condition to adjust the numbers up or down. If book is 9000 in avg condition and yours was immaculate then ask for more. If its crappy expect to get less. But counter offer a reasonable amount and you should be able to reach a deal for more than you think. Arm yourself with as much ammo as possible befor you meet again. be able to show what your opinion of ACV is and why. Comporable RZR's for sale in your area from the traders and even ebay or craigslist. If you have coverage for add on's make sure you collect for them as well if you choose not to retain. Many times you can retain salvage and sell it as is for more money. Letting the inmsurance company take it will surely net you less. Good Luck. And work with them and you should come out ok. If you cant reach a reasonable deal with the adjuster ask to speak to your claims handler. That's the LAST thing the adjuster wants. It looks bad on them but somtimes with a difficult unfair or just plain dumb adjuster it has to be done to get a fair deal. Usually not the case. Really depends on the insurance company and whether they are an actual employee of the insurance company or are an independent adjuster freelancing for many different smaller companies. If it books for 9,000 you shouldn't have to give up more than 3,000 . A fair deal and what I would shoot for would be in the 2,500 range (around 25% play hardball and you wind up at 20% or 2,000. It would have to bring twice that at auction for them to net that much. Good luck!!
Here's my guess ...lets see hoe close I get. 09 S, Guess average condition, average miles etc. I see them sell for 8500-9000 with a few add on's. So we'll guess they will offer 8,000 ACV (actual cash value) straight out to settle . Also guessing they will offer for you to retain salvage for 2,850. For a net payment to you of 5150 and you keep it.
i don't know what the book value of an 09 S is or what your actual condition is so you would need to agree on condition to adjust the numbers up or down. If book is 9000 in avg condition and yours was immaculate then ask for more. If its crappy expect to get less. But counter offer a reasonable amount and you should be able to reach a deal for more than you think. Arm yourself with as much ammo as possible befor you meet again. be able to show what your opinion of ACV is and why. Comporable RZR's for sale in your area from the traders and even ebay or craigslist. If you have coverage for add on's make sure you collect for them as well if you choose not to retain. Many times you can retain salvage and sell it as is for more money. Letting the inmsurance company take it will surely net you less. Good Luck. And work with them and you should come out ok. If you cant reach a reasonable deal with the adjuster ask to speak to your claims handler. That's the LAST thing the adjuster wants. It looks bad on them but somtimes with a difficult unfair or just plain dumb adjuster it has to be done to get a fair deal. Usually not the case. Really depends on the insurance company and whether they are an actual employee of the insurance company or are an independent adjuster freelancing for many different smaller companies. If it books for 9,000 you shouldn't have to give up more than 3,000 . A fair deal and what I would shoot for would be in the 2,500 range (around 25% play hardball and you wind up at 20% or 2,000. It would have to bring twice that at auction for them to net that much. Good luck!!
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I totaled my'08 in'09 and Progressive gave me 8.9K and buy back was 2K at the time.
I bought it back, got new cage and frame gusset kit and ride it like i stole it. Love it as I dont worry about scratchs or dings at all. It looking alittle rough but I like to have fun and not worried about looks more into function. my .02
I bought it back, got new cage and frame gusset kit and ride it like i stole it. Love it as I dont worry about scratchs or dings at all. It looking alittle rough but I like to have fun and not worried about looks more into function. my .02
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Another thing to consider is if you buy it back and plan to fix it and the frame is bent, everything has to come off that machine. So if you're going to do the work, it's going to be a big job.
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very interesting topic i have been woundering about this myself is the insurance normally a pain in the ass to deal with or have they been straight foward and what companys were you using?
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My adjuster asked me to bring it to a dealer for an inspection. He thought he could get it done with out it going to a dealer, but they dont have enough info on sxs like they do cars. I do want to buy it back, but not for 5 or 6 grand. If i cant get the machine back and buy all the parts it needs, I'll let them keep it.
The labor is no problem, I own a fab/welding shop for a living so frame repairs are not an issue. I have a car lift and all the tools you would ever need. But this machine is pretty messed up. From 50 feet away it looks fine- but up close every corner is tweaked- all plastic is broke somewhere, front a-arms tweaked back into wheel wells, front wheels broken/split, radiator and frame mount smashed, floor boards cracked, custom .120 chromoly cage tweaked about 4 inches to the right, brakes dont work. I'll start another thread about the crash.
I'll update when I hear something. Thanks for the replies.
The labor is no problem, I own a fab/welding shop for a living so frame repairs are not an issue. I have a car lift and all the tools you would ever need. But this machine is pretty messed up. From 50 feet away it looks fine- but up close every corner is tweaked- all plastic is broke somewhere, front a-arms tweaked back into wheel wells, front wheels broken/split, radiator and frame mount smashed, floor boards cracked, custom .120 chromoly cage tweaked about 4 inches to the right, brakes dont work. I'll start another thread about the crash.
I'll update when I hear something. Thanks for the replies.
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Depending on miles etc . Motor is probably worth 1500+ Trans 600-800 rear end 500-600 front diff 400-500 so theres 3000 in parts easy as long as their not damaged and thats just for the big stuff. Another 1000 for the little stuff easy So if you coud buy it back for 2500-3000 you could easily make another 1500-2000 without alot of effort. Doesnt sound like it would be worth fixing though. Could probably buy it back,part it out and have enough cash to upgrade to a newer model or have a big down on a new one.
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I have a 2011 xp, this one is the "buddy" rzr- its for buddys who dont have one. Which happens to be all my buddies!
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LOL sounds like my buddies.
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Take the money and buy a new one. A salvaged titled vehicle is only worth 50 percent of what a clear titled vehicle of the same condition. Everyone thinks they are smarter than the insurance companies and can profit off their loss. Not worth it. Will cost you more in the long run trying to fix a totaled vehicle. But good luck, let us know how it goes.
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There's a guy here on the forum that doesn't even own a RZR. All he does is purchased wrecked RZRs and then parts them out. He makes anywhere from 2-3 times what he pays for them.
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Finally got the machine back from the dealership. Insurance company totaled it. I get $10,755 if they take it, or $7,439.00 and keep it. I'm going to keep it and rebuild it. I think I have a $250.00 deductable.
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[" Most of the time you can retain salvage from 20-30% of the total settlement offer.So if your total claim is 10,000 you should be at 2,000-3,000."
Looks like I guessed pretty good.
Regardless of what everybody says. I have ALWAYS came on on top of salvage buybacks. Usually alot. Another thing about insurance. Most insurance companies WILL insure rebuilt salvage vehicles. Payoff on a rebuilt salvage vehicle usually will be about 25- 30% less right off the top(NOT 50%) this is where it is VERY IMPORTANT to keep records , every recipt and pictures of the repairs.The more documentation you have the better since you are fixing it yourself. Some insurance companies will not offer comp or collision on a rebuilt salvage title. Alot depends on the state your in and what the laws concerning salvage vehicles are in your state, and the insurance companies policies.
Looks like I guessed pretty good.
Regardless of what everybody says. I have ALWAYS came on on top of salvage buybacks. Usually alot. Another thing about insurance. Most insurance companies WILL insure rebuilt salvage vehicles. Payoff on a rebuilt salvage vehicle usually will be about 25- 30% less right off the top(NOT 50%) this is where it is VERY IMPORTANT to keep records , every recipt and pictures of the repairs.The more documentation you have the better since you are fixing it yourself. Some insurance companies will not offer comp or collision on a rebuilt salvage title. Alot depends on the state your in and what the laws concerning salvage vehicles are in your state, and the insurance companies policies.
No - $10,755 and $7,439.00 = 3,300 is only part of it.
The ins company would rather get it over immediately. There is consideration given to the insured preferring the RZR owner over dragging it out and the headaches, uncertainty and problems going to the next level dealing with "salvage" folks. Who would you rather settle with? The owners here on Forvm or guys with junk yard dogs?
Not saying it well but in my case the figures were all over the place. part of mine made sense. They probably have a term they use for the "fudge amount" he offers to end it. In a nutshell my claims guy is trusted to make decisions on behalf of the insurance company, decisions in their interest and has open rein to decide how to asses out the payout.
I bet if you went to a seminar where these claims people are trained you would gain insight and see the bigger picture. I would have to guess that many other factors play into how they come up with the "fudge amount"
including how well the insured presents themselves.
My dopey advice still stands: Be organized with all RZR receipts, A couple polite calls at the right time thru the process, good rapport with your dealer, an Entenmann's, and get it over on a Friday while he's trying to get out for the weekend to golf.
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here is a shot of the front
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cut the cage and got the hood off. The whole thing tweaked when I cut the cage.
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