Under California law, if the driver at fault has caused the accident, you may also be entitled to the depreciation or diminution in value of your motorcycle.
This means that even though your motorcycle has been repaired for $7,000.00, your motorcycle may now be worth less than what it was before because it was damaged in an accident.
Similar to the depreciation of a vehicle when it leaves the showroom, there is depreciation to a motorcycle after it has been involved in an accident. Even though the repairs may have been done in an excellent manner and guaranteed, you have an affirmative duty to tell any potential future buyer of your motorcycle that it has been involved in an accident. This will dramatically reduce the value of your motorcycle due to the damage in the accident.
How do you go about proving there has been a diminution or depreciation or reduction in the value of your motorcycle? You can determine the value of your motorcycle immediately before the accident and the value of your motorcycle after repairs. We always recommend that you hire an independent appraiser to evaluate your motorcycle to provide a fair market value. The appraiser can examine your motorcycle, evaluate the present market value, with a comparable sales for similar motorcycles and most importantly determine the value of your special motorcycle before the accident and after the accident. Insurance companies use independent appraisers, so you should too in establishing the value of your motorcycle, especially if it is a custom bike or one-of-a-kind motorcycle.
Submit your case to us online using the form below or via the contact us page.