Got rear ended, need insurance advice

[SA1]

So I got rear ended yesterday in my 89 M3 :( it destroyed the rear bumper and pushed the trunk in some, the trunk lid is cracked, also got pushed into the car in front of me so the front bumpers done for as well.

I just came here to get some advice on dealing with insurance and everything. I'm certain they will lowball me like crazy, and i know its going to be tough getting them to realize the true value of these cars. its got 208,000 miles, about 25,000 miles on a rebuilt 2.5, about 14k went into the engine alone and im seeing similar cars sell in the mid, even high 20's.

[Vtec?lol]

pics or it didn't happen?

[eur04lif3]

receipts will help you prove the worth. Also current listing adds of similar year/mile cars

Good Luck

[decay]

worst first post ever.

OP, another guy in AZ just lost an E30M3 to an inattentive driver a couple months back; his was total loss. there was a lot of discussion of value in his thread, which could be useful to you. good luck.

[gtdragon980]

Receipts and proof of value. Don't settle for anything lower than you think is respectable.

[jlevie]

In most cases, insurance companies are pretty astute as to the average value (in your general area) of vehicles. While an insurance company always wants to keep costs down, the conflict generally results from what we, as the owner, perceive the value to be. Sure there can be examples of the same car being sold for a relatively high value, but it is the average that is the base. Which is where a complete receipt history of maintenance, repairs, and upgrades can come into play as a negotiating point. In my experience they are generally going to discount the upgrades and pay more attention to repairs and maintenance. Understand that your labor doesn't count, only what you paid out.

[SA1]

In most cases, insurance companies are pretty astute as to the average value (in your general area) of vehicles. While an insurance company always wants to keep costs down, the conflict generally results from what we, as the owner, perceive the value to be. Sure there can be examples of the same car being sold for a relatively high value, but it is the average that is the base. Which is where a complete receipt history of maintenance, repairs, and upgrades can come into play as a negotiating point. In my experience they are generally going to discount the upgrades and pay more attention to repairs and maintenance. Understand that your labor doesn't count, only what you paid out.

Yeah the good thing is i have tons of receipts, i just got done putting 4,000 into refreshing the suspension(bushings etc..) and another 2 into other stuff. I dont think ive seen any 2.5 m3 selling for under mid 20's in the last 6 months or so. im hoping i can use that as reasoning.. to get a true "replacement" car id need a 2.5, and they're expensive.

[roguetoaster]

They will probably not give you value for upgrades beyond stock unless you disclosed them. I suggest that you push very hard to get the car back from the insurance company and part it or build up another shell.

[Bimmerguy91]

Make them do a market analysis if they dont give you a number you like. Or have a licensed appraiser come value the car. I have dealt with this a few times. Just keep fighting. They key is not giving up. The insurance company wants to close it out and get it off the books quick and eventually they will atleast give in some if you put up a good fight

[dnguyen1963]

They will probably not give you value for upgrades beyond stock unless you disclosed them. I suggest that you push very hard to get the car back from the insurance company and part it or build up another shell.

In WI, you have to have a dealer license before you can get the car back...not sure about CO.

[Thizzelle]

this is why I have stated value on my M and jack it up every year :)

[vert_this]

get them to give you a quote first, assuming its totaled, before you go spouting off about what all u have done or have receipts for, cause if you don't they will say the offer includes that.

Then when they make that new offer do a search for comparable vehicles in your area of the country. Grab three of the highest if the avg price of those three are more than point this out to them. I was told it can not say "Or Best Offer". I was able to get an extra 2k out of my car by doing this. The offer may be fair though once you add the other crap especially if you are not injured. They want you off the books quick cause if it drags out your neck may start hurting, lol..

If u are injured and have an atty for that most of the time they will mitigate that car for you, if they become difficult that is. You must involve them though otherwise they only want the 40 pecent of the injury claim. They get nothing on the car deal though.

[Kershaw]

In most cases, insurance companies are pretty astute as to the average value (in your general area) of vehicles.

this. when my eta was wrecked, they gave me beyond what market value was. also, realize that they do not want to lowball you, they do not want you taking them to court for back injuries or other bs. if their client hit you, believe me, they want to make you happy.

[SmokeE30]

If found most times insurance company's are just scumbags out to make money so your probably gonna have to fight them for a bit to get what you want And Buy your wrecked car back for sure

[kung fu jesus]

I would get independent quotes for repairs. There are a few considerations on your part:

Receipts are nice, but if you didn't readjust your policy to cover the value of your car, you may be fighting a losing battle for fair compensation.

If you decide to keep the car for repairs, and the insurance company wants to write the car off as a loss, you need to negotiate how to keep the title clear. These models are written off frequently because of the expensive coachwork and features exclusive to it. If this car is a sort of investment to you, you will want to work with the insurance company to keep the title clear. The repairs will show up in a title check, unless you pay for them out of pocket and work with the shop to to keep it that way.

If the car isn't written off and you repair it, see if you will be rewarded compensation for the devaluation because of the repairs. Not every state allows this. Basically, you are asking for compensation for the loss of value from the repairs when it shows up in a title check.

If this car already has a pooched title history, just disegard half of what I wrote! :)

I'm sorry to hear you car was damaged, consider you're still able to walk and talk as the ultimate upside.