How Insurance Companies Value a Motorcycle Accident Claim

The road to recovery in the aftermath of a motorcycle accident can be long for the injured rider. It’s highly important that you understand the value of your claim and how an insurance company will evaluate it, as well as the difference between the two. Understanding insurance company processes can help you negotiate for a fair amount.

Motorcycle Damage Assessment

First, the insurance company will assess the damage caused to the motorcycle. The insurance carrier may require you to bring your motorcycle to a specific mechanic or repair shop. If not, you can take it to any licensed auto shop and send the official repair estimates to the insurance company along with your claim.

To determine what value to assign in property damage repairs, the insurance company will calculate the actual cash value of the motorcycle. Actual cash value refers to the cost to repair the motorcycle – or replace it, if it is deemed a “total loss.” If a motorcycle is totaled, this means the price of repairs exceeds the overall value of the vehicle.

According to Los Angeles injury lawyers, your property damage settlement will depend on the fair market value of your motorcycle prior to the accident, or how much you reasonably could have sold your motorcycle for before the damage occurred. If you modified your bike with custom parts or after-market accessories, this could increase its market value.

Determination of Medical Expenses

Next, the insurance company will make a calculation for your medical cost reimbursement. If you suffered physical injuries in the motorcycle crash, you can seek financial compensation for all required medical treatments and necessary care – both now and in the future.

Medical expenses you can list on your claim include:

• Hospital stays
• Doctor’s appointments
• Travel to a specialist
• Surgeries and rehabilitation
• Physical therapy
• Prescription medications
• Medical devices
• Live-in or ongoing care

The insurance company will request proof of your injuries and medical costs, such as hospital records, a note from your doctor, x-rays and medical test results, medical bills, and testimony from a medical expert.

How a Motorcycle Accident Lawyer Can Help

It is important to realize that the value an insurance company assigns to your motorcycle accident claim may not be its true worth – especially if you have serious injuries and losses. For this reason, it is essential to consult with a motorcycle accident attorney in LA before accepting a settlement.

An experienced personal injury lawyer can help you in the following ways:

• Argue the fair market value of your motorcycle
• Prove the extent and severity of your injuries
• Establish your need for future medical treatments or care
• Estimate a lifetime of medical costs using experts and life-care planners
• Seek damages for your pain, suffering and emotional distress 
• Pursue compensation for other losses, such as lost wages and out-of-pocket costs

Your lawyer can help you with every phase of your insurance claim or injury lawsuit, including proving that a motor vehicle driver or another party is at fault, documenting your injuries and losses, and negotiating with an insurance claims adjuster for a fair settlement. If necessary, your lawyer can also take your case to trial to seek a fair case outcome.For more information about the value of your motorcycle accident claim, contact Rose, Klein & Marias, LLP for a free case review.