When an individual suffers property damage to their motorcycle in an accident, and the insurance company determines that the motorcycle is a total loss, the insurance company must pay for its full market value, less any deductibles in place. The motorcycle’s full market value is the motorcycle’s value when the accident occurs – not when the individual initially purchased their motorcycle. In most cases, a motorcycle’s full market value is less than its purchase value. This discrepancy is because wear and tear on the motorcycle and the total number of miles driven are all part of the final calculation. Illinois also has a cutoff value for motorcycle repairs (i.e., the motorcycle’s FMV before the accident, less its scrap value). In cases where the cost of motorcycle repairs is greater than this cutoff value, the motorcycle is a total loss. Therefore, the insurance company doesn’t have to pay for repairs on a motorcycle that’s totaled.