motorcycle write off but still on higher purchase

[gingerflaps]

HELP!!!
Ive recently had a motorcycle accident and i have just been told by the garage that its going to be written off, the thing is I bought it in late 08 on higher purchase and still have roughly £2200 left to pay.
Will the insurers pay off the outstanding amount or give me a lump sum lower than what i owe... i dont want to pay for something i no longer have.

kind regards. Katie x

[ummmm]

I think insurers only pay book value.

Have a search to see what it is worth and you'll get a vague idea of what they might pay out.

Did you have it from new?

[redcrx]

start looking for similar bikes for sale and what it would cost you to buy a like for like bike.

You dont have to accept the first offer an insurer makes if you can prove a replacement bike would cost more.

[boxtops]

You're still responsible for the hire purchase loan whether or not you still have the bike, so try to persuade the insurers to give you a realistic write-off value.

[chas2008]

thats why gap insurance is offered........without it you will only get book value

[R1Geezer]

The insurers will give you what they think it is worth, your finance arrangments are not relevant to them. How much do you think it's worth? Personally I'd give the finance company the money and arrange to pay the difference and clear up the whole thing.

[chas2008]

http://www.directgap....uXJ_qACFQZgZwod7Qvqug

bit to late now

[gingerflaps]

thanks for your answers, my insurers, like a lot of people i've spoken to, wasnt offered and knew nothing about GAP insureance.
yes I had the bike from new, i think there's about £2000 left to pay.

will the insurers automatically pay my creditors or give me a lump sum so i can give the creditors a bit and buy a cheaper bike? because i was told i wont see a penny and it will all go to them?

[R1Geezer]

They pay you, its up to you to settle your debts.

[Seafarer1966]

Hire Purchase you mean