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General E46 Forum
This is the place to get answers, opinions and everything you need related to your E46 (sedan, coupe, convertible and wagon) BMW!

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Old 10-04-2012, 06:40 AM   #1
Cyphotika
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Location: Reading, PA
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My Ride: WRECKED!!
Insurance payment

I live in Pa. I wrecked my e46 but it was not my fault at all, this guy came down a hill and blindside me after running a stop sign. Now my question is, do i have to give my car to my company to receive payment from HIS company?
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Old 10-04-2012, 06:48 AM   #2
NOVAbimmer
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No. If the car is a total loss, the insurance company writing you a check will take possession of your salvage.
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Old 10-04-2012, 06:49 AM   #3
SpoonerDee
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If your car is deemed totaled, then yes it will most likely be taken away or kept. Some insurance companies will give you the option to buy it back with a salvaged title if you want it.
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Old 10-04-2012, 03:40 PM   #4
Cyphotika
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They did tell me i could buy it back, it was strange though because i have liberty mututal. He had state farm, so i get a check from State farm and send my car to Liberty. Just seems stupid to me that some young 18 year old completely disregarded the law by running a stop sign and now i have to buy a new car. I thought i would be able to keep the car and get paid. The best part about my wreck was that after he hit me, he ran. I chased after him, was all over him. Once he realized he wasnt getting away he pulled over, then a cop gave him a ticket that was it.
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Old 10-04-2012, 04:41 PM   #5
jdstrickland
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Quote:
Originally Posted by Cyphotika View Post
I live in Pa. I wrecked my e46 but it was not my fault at all, this guy came down a hill and blindside me after running a stop sign. Now my question is, do i have to give my car to my company to receive payment from HIS company?
Your experience is strange. If State Farm cut a check, then they have legal ownership of the car. You should be sending it to them, they should be sending a tow truck to get it, that's what usually happens.

But, if you want to keep it, then somebody is gonna want the money, usually about 10% of the amount of the check you got. For example, they decide your car is worth $5,000, but you want to keep it. 10% of $5,000 is $500, so they send a check for $5,000 - $500, or $4,500 and you keep the car. My experience with this stuff is that my insurance carrier settles my claim and then goes after the insurance carrier of the party that is at fault.

Since your car was hit and the other party is at fault, then there is no Deductable to be paid, the coverage to remedy your position is provided by the liability coverage of the other driver. No Fault states might be different, I do not know. In my state, I have to insure against the damage I might do to your person and/or property -- I am liable for the damage so I must have liability coverage. I also have the option of insuring my own property (car) in the event that I am the at fault party in the accident, and if my car is financed then the option is required to be exercised -- I have to have coverage that will repair or replace my car because it is security on the loan and the bank wants the payments to keep rolling in which might not happen if the car is not repaired.

But the bottom line is that if I am at fault, my liability coverage pays for your loss and there is no deductable that is charged. The typical chain of events is that my carrier pays my loss and your carrier pays your loss, then the two carriers pay the other as is applicable. Neither carrier has any interest in the car, and they are happy that you take it so they don't have to come and get it, then deal with disposing of it -- the normal disposal is through an auction where the junk yards bid on the rumpled steel and then take the car apart and sell the pieces.

The problem with what happened to you is that the chain of ownership has been muddled -- State Farm bought the car from you, but you delivered it to Liberty Mutual. This might all be okay, but in my state they would not have done it this way.

The important thing to you is, how to buy the car if you want to keep it.
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Old 10-04-2012, 04:46 PM   #6
Sansho
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Just seems stupid to me that some young 18 year old completely disregarded the law by running a stop sign and now i have to buy a new car.
That's the bite when you get hit ... you become the inconvenienced one, despite the circumstances.
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