In addition to the bicycle damage, you should document with photographs, receipts and website information the damages to and cost of all damaged accessories, including your helmet, glasses, clothing, shoes, etc. You should be compensated for anything that been torn, bloodied, scratched, etc. Even if the helmet appears okay, most helmet manufacturers recommend that it should be replaced if it has been involved in a crash. For accessories, the insurance company will often argue that they are entitled to depreciate the original cost. A 5-10 percent per year depreciation rate is generally fair.
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Keeping Your Damaged Bike
If the insurance company totals out your bike, they are entitled to take possession of it in return for a settlement check. My experience is that most insurance companies do not want to deal with collecting the damaged bike and will usually let you keep it. If the insurance company demands the damaged bike, you can usually negotiate to buy the totaled bike back from the insurance carrier for a nominal amount ($50 to $100).
Even if the bike is totaled, you will usually be able to salvage enough usable items (front derailleur, bottom bracket, hubs, brake callipers, bottle cages, etc.) to make it worth the $50 to $100 salvage value. Because of the potential for hidden damage to items like the frame, fork, bars, seat post, cranks and pedals, you should probably dispose of these items.
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Loss of Use Damages
In addition to compensating you for your property losses, you are also entitled to recover "loss of use" damages. Loss of use damages are similar to reimbursement for rental car expenses in a car vs. car situation and are recoverable regardless of whether you used your bike for business, commuting or simply for pleasure.
Furthermore, you do not have to actually rent a replacement bike in order to recover loss of use damages. Loss of use damages are recoverable for the time period reasonably for the repair or replacement of your bicycle. The reasonable time period usually runs from the time you supply the insurance adjuster with all of your documentation until the time the insurance adjuster pays you. Given that most insurance adjusters are not accustomed to dealing with bike damage claims, I have recovered loss of use damages for up to 12 weeks in some cases.
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Liability
Assuming that the car that hit you did not carry liability insurance, or that you were at fault for causing the accident claim, you may want to look to your own homeowner's insurance policy or renter's insurance policy for recovery.
The downside of this approach may be your high deductible and the effect that such a claim may have on your insurance rates. Unless you are dealing with a substantial loss, I do not recommend using your homeowner's insurance. An advantage of using your homeowner's/rental insurance is that such coverage generally pays for a brand new bicycle rather than the market value of your bicycle.
If you find yourself in the unfortunate position of having to make a property damage claim, do your homework and document all your damages so that you can properly educate the insurance adjuster and recover your damages. Ride safely!
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