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-   -   This totally sucks! (http://forum.e46fanatics.com/showthread.php?t=981325)

cinredman 04-10-2013 09:29 PM

This totally sucks!
 
April 1, 2013
Drive home
17 year old kid turns left in front of me while I'm traveling at about 40 MPG
Kaboom - airbag and damage to front right corner and wheel, other driver cited, no personal injury; that really is a good thing.

However, I'm sure you all know where this is going. Insurance adjuster has claimed the are going to "total" my car and the value (yep, you guess it) SUCKS! Especially after only owning the car for about 20 months, during which I've purchased rims/snow tires, hardtop & install kit, had the front hood and rear left fender repainted, 100k maintenance including front bushings, tranny flush, coil packs, plugs, etc, etc.

Anyone know just how many 05 Sonoma Metallic 330CIs were produced, cause I can't find any on the market?

Suggestions on proving the value of the hardtop at $2k (yea, took it off a week before to enjoy the warming weather)...

Bottom line, I would really appreciate any suggestions on driving the appraisal value and hoping other owners have some sage advice

Thanks

cinredman 04-10-2013 09:32 PM

8 Attachment(s)
And now, pictures

PAZHP 04-10-2013 09:48 PM

After recently going through this process with my wife's Tiguan, aside from the hardtop which you can sell independently, I'm afraid none of the work you had done will be recognized by the insurance carrier when they calculate your total loss valuation. They merely factor in make, model, mileage, condition, major options, and then lowball their settlement. The refurbishments mean nothing to them. Indeed, this totally sucks. Sorry I couldn't be more positive.

halohead52 04-11-2013 06:56 AM

Afraid PAZHP is right. Insurance doesn't care about rare color or any mod, upgrades, or how carefully you maintained it. You could think about parting it out (and the hardtop will sell easily and the rims) if you have the space and time. Amazing how much damage was done. I'd be so bummed if that was mine (and I have a 2006 330 SG so it's painful to look at the pics).

pawelgawel 04-11-2013 07:06 AM

Take the cash and buy the car out from the insurance company... it looks bad, but its only one corner... a good shop can fix this easily. 3-4k should cover it. Its only one corner and from the looks of it, nothing serious with the engine.



Sent from my SGH-I727R using Bimmer App

cinredman 04-14-2013 05:16 PM

2 Attachment(s)
Update - estimate to repair is $15k and so we are not negotiating settlement price. I have a black hardtop to go with this car, so if your interested, PM me! I should have pictures posted in the 4-sale section later today

pauljcl 04-14-2013 07:37 PM

Quote:

Originally Posted by cinredman (Post 15339766)
Update - estimate to repair is $15k and so we are not negotiating settlement price. I have a black hardtop to go with this car, so if your interested, PM me! I should have pictures posted in the 4-sale section later today

Very sorry for you. As you said so succintly - it sucks!

saxual328ci 04-14-2013 11:59 PM

I was in a similar situation like yours a few months ago. Like everyone said, the insurance company will try to low ball you. Even when I showed them all the work I had just put into the car, they claimed it was parts to make the car run. I was pissed because I knew if I got into another bimmer, I still would have to do the same repairs. $$

Considering the year your car is and the miles, they might give you $10-11k which is a low ball. Try to get atleast $11-12k. Look at prices of similar cars selling in your area. That's what they will based it on. It doesn't matter if you had a certain color. I had a manual drive and those things are hard to find. Make sure you add in property taxes you paid this year, title taxes too. Also check and make sure they give your the tax on the settlement. ex. if they give you $10,000 add on tax and cost of title.


Good luck

MJLavelle 04-15-2013 03:52 AM

Our cars are reaching an age where some owners may want to consider an Agreed Value Policy when they insure their car. If you have taken the time and money to essentially restore a car to near-new condition, you will not get the real value for your car from regular insurance. Most companies will take the position that any repairs made were simply part of normal maintenance, which is expected of any owner.
But, if you have done things like upgrading the suspension with quality components, replacing all of the suspension bushings, rejuvenating the engine with all new gaskets, cooling system, vacuum hoses, and basically replacing all possible wear components with new gear, then you are going to take a financial hit. I am going to be in that position fairly soon, since I have spent 3 years collecting parts to do all of this and more. When I am done, this will not be a common e46 anymore, since so few cars are available with this level of maintenance on them. I would be seriously pissed to get a settlement based on the value of an average e46, which is no where close to what my car will be.
This leaves you in a position of either hoping that you don't get in an accident, which is just not logical, or getting a special coverage policy. I am looking into this now, and plan on posting something in the General Forum within the next 6 weeks or so.
This is not insurance that everyone is going to want to carry. You really would only want it if your car has exceptionally low mileage, and is in remarkable shape, or, if you have devoted a good bit of time and effort to restoring the car to like new condition. Unfortunately, things like age and driving record are going to impact you even more with this sort of insurance as well. But I think there are quite a few people who would qualify for this insurance, and would be willing to pay more to know that they will get the true value for their car, if it is in an accident. I am still trying to work through this process, and understand how the rates are calculated, and what exactly qualifies as a car that is over and above a standard, good condition e46, and what it takes to classify it as something better than average car, that is worth insuring for Agreed Value. As I said, I hope to be able to create a more detailed post in the next 6 weeks or so.
Sorry about your loss. That is a tough break, and most insurance companies could care less.

gbakerkingston 04-15-2013 06:25 AM

So, ask yourself a question: it looks great, it runs great, and after all the preventative maintenance - what would a dealership be able to sell your car for on the lot in 30 days ? There's your value. Risk (where you live, your age, vehicle type/age, etc) & market value (the cold hard truth: our dream machines are horrible investments & depreciating assets until they qualify as a Barrett Jackson participant, or flatline in value and boast Historic Plates) are two benchmarks in accessing premiums. If you are successful in finding satisfactory coverage, it will be based on a 3rd party appraisal and significant restrictions in operation that offer extremely limited enjoyment of your vehicle.....

cinredman 04-15-2013 10:47 AM

As stated earlier, repair cost estimate is just north of $15k. First offer on total is just north of $16k, but fails to recognize 2nd set of tires/rims (winter tires still on car, summer in garage), third set of rims (aftermarket) and the hardtop.

Of course, I'm also trying to identify another e46 as a possible replacement ( purchase) along with entertaining the idea of leasing a brand new BMW...

Gasturbine 04-15-2013 11:44 AM

Quote:

Originally Posted by cinredman (Post 15330090)
17 year old kid turns left in front of me while I'm traveling at about 40 MPG

I knew the MPG gauge was good for something, but how fast were you going?

MJLavelle 04-15-2013 12:23 PM

Quote:

Originally Posted by gbakerkingston (Post 15341130)
So, ask yourself a question: it looks great, it runs great, and after all the preventative maintenance - what would a dealership be able to sell your car for on the lot in 30 days ? There's your value.

Not necessarily. You could sell it on some BMW specialty site, and find people willing to pay more for a car that has documented evidence of being maintained above and beyond the usual.
That's where the added value coverage would help you.
And yes, many specialty car insurance companies restrict your usage to occasional recreational use, there are some that will insure daily drivers. Those are the ones I am getting quotes from at this point. It remains to be seen if the cost of that coverage is too expensive to be reasonable.

PAZHP 04-15-2013 12:38 PM

Quote:

Originally Posted by cinredman (Post 15341435)
As stated earlier, repair cost estimate is just north of $15k. First offer on total is just north of $16k, but fails to recognize 2nd set of tires/rims (winter tires still on car, summer in garage), third set of rims (aftermarket) and the hardtop.

The hardtop and additional sets of rims and tires are not part of the equation. They weren't damaged in the collision are still saleable separately; you still have them in your possession, and they're not part of the total loss.

LKM46 04-15-2013 08:32 PM

Quote:

Originally Posted by cinredman (Post 15341435)
As stated earlier, repair cost estimate is just north of $15k. First offer on total is just north of $16k, but fails to recognize 2nd set of tires/rims (winter tires still on car, summer in garage), third set of rims (aftermarket) and the hardtop.

Of course, I'm also trying to identify another e46 as a possible replacement ( purchase) along with entertaining the idea of leasing a brand new BMW...

I hate to say it, but for an '05 with 100k that is a good offer. The wheels and top do not figure into the equation. Glad you are OK.

mitfa911 04-15-2013 11:38 PM

Don't be scare by the estimates insurance companies come up with. You can easily repair that car with a lot less. You can always by used parts in good condition as replacements. I bought my car from an insurance auction with a salvage title. I have between $2500 and $3000 on the car and that's including the price of the car. Mine came with the hardtop and that's the reason I bought it to begin with. If you are willing to sell the whole car including the hardtop, I might be interested if the price is reasonable. You can find my buildup under my signature.

LKM46 04-16-2013 10:11 AM

Quote:

Originally Posted by mitfa911 (Post 15343946)
Don't be scare by the estimates insurance companies come up with. You can easily repair that car with a lot less. You can always by used parts in good condition as replacements. I bought my car from an insurance auction with a salvage title. I have between $2500 and $3000 on the car and that's including the price of the car. Mine came with the hardtop and that's the reason I bought it to begin with. If you are willing to sell the whole car including the hardtop, I might be interested if the price is reasonable. You can find my buildup under my signature.

Why mess with a salvage car and all the work/headache/potential problems? There are lots of nice E46 cabrios out there, many which have been babied as third cars for sunny days. For that settlement offer you can get a nice, straight replacement and just paint the hardtop to match. Move on.

cinredman 04-16-2013 10:33 AM

Quote:

Originally Posted by Gasturbine (Post 15341548)
I knew the MPG gauge was good for something, but how fast were you going?

Estimated speed was 45 MPH before braking, evasive maneuver and impact. Hit hard enough to crack chunk off aftermarket rim.

cinredman 04-16-2013 10:36 AM

I would love to find another 330Ci in Sonoma Metallic, but that color appears to be sorta rare. Who knows what might eventually turn up in the driveway. Considered a 335i, but research indicates this model has quite a poor history of spending way too much time in the shop.

fmzip 04-16-2013 10:00 PM

Sorry for your loss, that really sucks......

Time to move on, buy my car ;)


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