By Brian Montalto
Having a motorcycle accident can be a very traumatic event. If your motorcycle is deemed a total loss in an accident you will be looking to a make a claim to recover your losses.
Whether you have physical damage coverage on your policy, or you make a claim against the insurance company for the at fault party, there are some facts to know.
Many think that Kelly Blue Book is used by the insurance company to determine the value of your motorcycle; however the insurance does not use this resource.
The insurance company will determine the actual cash value (ACV), based on current market value of your motorcycle by local sales usually within a 50 mile radius.
Sometimes the ACV based on the market value is not the most accurate evaluation.
Another way to calculate the value is using an average of two values found in Redbook, and the NADA book. The websites are www.redbook.com and www.nadaguides.com.
These sources usually reflect the most accurate evaluation.