318is totaled - insurance won't acknowledge added value of modifications

[CleanAzzE30z]

Why do people keep saying "our hobby wont make us money"? None of us is trying to MAKE money on this, we just want a fair price of what our cars are worth (or something reasonably close to it), which is the whole point of having insurance in the first place. That is all. Not to be stonewalled by the insurance companies we are paying premiums to when we try and logically provide proof of our cars being more valuable than your run-of-the-mill stock example. Neither are we asking to be paid dollar per dollar for every modification we pay for on our cars. That would be ridiculous.

Mariano

[Massimo]

OP I think what you are seeking is not going to come. I am not trying to be a downer but you need to think this logically.

Cars only increase or maintain there value if the car is keep in original condition. Having THR CAB and billies with HR sports is not original and will de-value your car.

The only cars that have increased value due to modifications are the ones that have been approved buy the local transport department. For example here in australia it is common for people to drop rotaries into everything, but the only ones that increase there value are the ones that are approved buy the transport department. Price differance is crazy datsun 1600 (510 in you land) with 13B in them will sell for 15-20k but if they are street legal you will see them in 50-60k.

Unfortunatly our hobby is not going to make us money and what ever performance moddifications you do to your car you will never get you money back on them, that is the way it works weather you like it or hate it.

Good luck and keep us posted.

[Avus E30]

good to hear the OG guys have dealt with this successfully. Good luck man

[CleanAzzE30z]

OP, sorry your thread has gone to shit. Some people have too much time on their hands and no real life knowledge.

You need to continue to deny the other party's insurance settlement offers. Hopefully you can provide some proof of maintenance and aftermarket part purchases. My buddy just went through the same thing with his 89 325iS and it's a bit of a fight. You normally can request the other party's insurance hires an appraiser. It's my understanding that they are required to do this if you request it. If you then are unhappy with his evaluation of the car you should be allowed to hire a private appraiser.

To give you an idea the appraiser that did my friend's car took note of every aftermarket item on the car and each part's value. He even took the shadowline trim, ///M grille badge, and Euro plate filler in to consideration. Along with the suspension mods too.

Thats refreshing to hear.

[Andy348]

Good luck OP.

I'm definitely going to keep my receipts from now on...

[CabbE30]

OP keep us posted on outcome.
I definately think you can get more for your car. Scrounge up more ads, etc. also to bump up that value.

[nando]

man, just pay the $375. He'll get you like $2000 back. I just got lucky and the dude I found specialized in unique cars.

[Ziggens96]

talked to an appraiser yesterday, who turns out to be a bimmerhead and is wise to the type of modifications we do to our cars and why. he says it sounds like a $4500-$5000 car easily. I heard from him and 1 other appraiser that Progressive (the company I'm fighting with) is hands down the worst when it comes to payouts. They also both said Geico is second worst. He also looked up the average value of a 318is on NADA and it's $3700. So for those of you who think I'm being greedy, go fuck yourselves.

he wants like $325 to do the appraisal (30 bucks more than the standard since he's kinda far). I'm still going to try to find someone cheaper since Nando said his was less than 100, but either way it should be well worth it.

[MR 325]

Of course they don't want to make a big payout, they'd rather bend people over.

Keep fighting.

[browntown]

If you buy it back, the vast majority of those parts can come off and be sold/txfrd to another car. You want the insurance company to pay you replacement value on used parts so you can reuse them?

C'mon man, modding a car will never pay from the insurance ppl. My fiance is a claim adjuster and they're in it to settle fast and cheap. A lawyer will just take 30% of your payout.

[nando]

Maybe in the world of buying and selling. This is insurance, your car is worth book value.

only if your insurance company sucks.

As I always say, hire an appraiser, collect your receipts. Book value doesn't mean anything - my insurance company doesn't use it at all (not even if you have a 1997 Toyota Camry).

the cost is not huge - mine was under $100. Basically you can't go wrong if you think it's going to bump up the value by $2k.

[Ziggens96]

OP, sorry your thread has gone to shit. Some people have too much time on their hands and no real life knowledge.

You need to continue to deny the other party's insurance settlement offers. Hopefully you can provide some proof of maintenance and aftermarket part purchases. My buddy just went through the same thing with his 89 325iS and it's a bit of a fight. You normally can request the other party's insurance hires an appraiser. It's my understanding that they are required to do this if you request it. If you then are unhappy with his evaluation of the car you should be allowed to hire a private appraiser.

To give you an idea the appraiser that did my friend's car took note of every aftermarket item on the car and each part's value. He even took the shadowline trim, ///M grille badge, and Euro plate filler in to consideration. Along with the suspension mods too.

yeah, thanks. somehow I don't think the insurance company would hire an appraiser. they sent the adjuster out twice to look at my car. i think he was sent the second time because the first time, he told me that he used to have E30s himself and he probably knew that I was going to get into some shit about getting a fair price for the car. he said he was going to try to take his photos in such a way that the hail damage wouldn't be very visible, and in general try to help me out by trying to source used body panels etc. in hopes that the car wouldn't be totaled. obviously, that didn't pan out. i believe they sent him back to evaluate the car again because some info he provided may have been vague. the next time he came, he was taking photos of every single tiny imperfection on the car and he seemed bummed out and much less like he was "on my side" anymore. this second time, he asked me about the modifications to the car, and while he got me some money back for the steering wheel, SSK, shift knob, and intake, he passed the euroweaves off as common items because he found some iX weaves in his database for $50 each and didn't know the difference.

he also told me that i had set off a "red flag" because i had mentioned over the phone to the person handling my claim, before the adjuster came out, that my car has a bit of a niche market and that KBB values might not be very accurate. apparently if you say something along these lines they tend to scrutinize the appraisal a bit more, for better or worse.

anyway, a couple things that ticked me off were the euroweaves being ignored, and every component of the interior being marked 3/5 in the condition adjustment with the only explanation being "soiling removable with detail." furthermore, i've come to find out that the condition adjustment figures are calculated based on the condition of comparable vehicles - 1991 BMWs in this case. my interior is absolutely mint, especially when compared to the average 1991 BMW - and to downgrade it because it wasn't sparkling clean is total horseshit. I asked over the phone today (half-mockingly) if they could send someone over to look at the interior after I detail it and they said no. they said my only option really was to hire a private appraiser, but i'd be worried about the cost and how much effect it would really have.

so did your friend just get lucky with the appraiser and they sent a bimmerhead over? or did your friend have to explain what every part was and what he paid for it? I have a pretty thorough record of every maintenance part/upgrade on the car and I have sent my receipts to the insurance company already but they are simply denying that these things add any value. do you know what the private appraisal cost your friend?

[MR 325]

OP, sorry your thread has gone to shit. Some people have too much time on their hands and no real life knowledge.

You need to continue to deny the other party's insurance settlement offers. Hopefully you can provide some proof of maintenance and aftermarket part purchases. My buddy just went through the same thing with his 89 325iS and it's a bit of a fight. You normally can request the other party's insurance hires an appraiser. It's my understanding that they are required to do this if you request it. If you then are unhappy with his evaluation of the car you should be allowed to hire a private appraiser.

To give you an idea the appraiser that did my friend's car took note of every aftermarket item on the car and each part's value. He even took the shadowline trim, ///M grille badge, and Euro plate filler in to consideration. Along with the suspension mods too.

[MR E30 325is]

I waited all day to drop a bomb in this thread to keep the lulz going.

R3v helps me keep my sanity.

I hate each and every one of you. With a passion.

Happy Valentines day bitches.

[Ziggens96]

my bad, that was "accident," who has apparently decided that communicating via emoticons might help him save face?