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Old 10-27-2012, 02:57 PM   #13
diegoteck OP
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Joined: Oct 2012
Location: Salt Lake City, UT
Oddometer: 46
Originally Posted by GH41 View Post
So.. if not ask don't tell and hope it isn't discovered if loss or physical damage takes place? I you make a claim and collect a settlement and it is later discovered the bike has a salvage title can you be accused of committing fraud?? GH
You are not committing any crime if the company doesn't ask. There is nothing wrong if they discover it is a salvage title on the claim process, they take a depreciation and you get what you paid for. If you bought a bike for 7k when it was 10k with a clean title and the company tells you the replacement cost is 10k but we are going to take a 30% depreciation due to the loss history, you will be ok, at the end you are not trying to make money, you just need to get what you paid for it.
I had clients that just after a total loss claim realized their car was a salvage and now understand why it was "such a good deal" when they bought it, I explain the process if they are not familiar with it and i also tell then not to get unreal expectations about the settlement. If you paid less, you get less, but there is no way you are walking out empty handed.
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