2024 KTM 690 SMC R Motorcycle Total-Loss Appraisal
A low-mileage performance motorcycle appraisal where equipment and model-specific market evidence were reviewed as part of the total-loss settlement dispute.
The initial settlement figure is stated including HST. The revised figure is shown as documented. Because settlement components may differ, no arithmetic increase or percentage change is stated.
The Assignment
The owner of a low-mileage 2024 KTM 690 SMC R contacted IA Reports after questioning whether the insurer's total-loss settlement accurately reflected the motorcycle's market value.
The Motorcycle
The KTM 690 SMC R is a specialized performance motorcycle with a more focused market than many conventional street bikes. Mileage, model, equipment, condition and the availability of relevant comparable motorcycles were important parts of the appraisal.
The Valuation Issue
The original settlement incorporated some of the motorcycle's equipment, but the overall valuation still required review against the subject motorcycle and relevant market evidence.
Evidence Reviewed
- Motorcycle specifications.
- Reported mileage.
- Relevant equipment.
- Available claim valuation information.
- Comparable KTM and relevant motorcycle market listings.
Our Appraisal Approach
IA Reports reviewed the specific KTM being valued rather than relying on broad motorcycle depreciation assumptions. The appraisal focused on low mileage, equipment and sufficiently relevant market examples for the 690 SMC R.
The Resolution
Following review of the independent appraisal and supporting market evidence, the settlement was revised from $10,785.90 including HST to $13,125. The file was resolved in approximately one week.
What This Case Demonstrates
Motorcycle valuations should consider the specific model, equipment, mileage, condition and relevant market. Specialized performance motorcycles may require a narrower and more focused comparable search than ordinary passenger vehicles.
Client-identifying information, readable licence plates and other direct identifiers have been redacted, omitted or generalized. Case details are presented for general educational purposes.