e30 m3s just went up in value

[Pino]

that kid looks like 50% of the e30 community that i've met.

i'm just surprised he hit you in a car and not his skateboard.

[RobertB]

is there an independent appraisal clause in AZ?

Ask them to provide a written proof of value of your car done by a certified independent appraiser. If not, hire one. I went thru this. I was lucky to have
club members that guided me. keep fighting for your right...

[Den_k321]

that just hurts to see!

[Nick_S]

Damn man, that might be one of the cleanest M3's I've ever seen. Such a bummer! I really hope things work out in your favor.

[Zreberlcoe]

That is so depressing. Is it sad for a person to feel that way about a car? I don't think so..

[graphikg]

F! Accidents and happenings like this is why I keep talking myself out of doing body work to my e30.

[GaryE30]

in the red shirt, i present to you the idiot who t-boned me.

Look at this guy... Here is what I imagine is going through his head

"Ah fuq mom's gonna kill me for rippin' her bumperz off. If only that stupid red car wasn't in the way! Hey bro, do you think my mom will notice if I ziptie this shit bak onz? OH haiy you like to sk8boredz? I don't has 1 yet, kristmus is commin' and I got one on da way. kthxbye BRO. Kewl wheel protrusions BTW!"


ON A SERIOUS NOTE:
Sorry for your loss man, that was an incredibly clean example. Hope things get better for you.

[BavarianAddict06]

glad ur okay . sad for the car.. hope u the best of luck !

[M42Technik]

Just went through this thread. Holy hell man. I hope this all works out in your favor, because it absolutely should.

Good luck to you and your legal battles! Wish I could help.

[kitsune]

I used to work in the auto field for P&C in the insurance industry but now I'm in malpractice.

Auto insurance is quite simple. You just need to read your policy and applicable laws and regulations.

Since you're in AZ look here:

http://www.azsos.gov/public_services/Title_20/20-06.htm

Under:

R20-6-801. Unfair Claims Settlement Practices: (VERY IMPORTANT!!!)

http://www.uphelp.org/pdfs/unfairclaimspractice.pdf

AZ is similar to WA as far as settlement practices.

First, lets define the word insurance. According to Webster:
http://www.merriam-webster.com/dictionary/insurance
"Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril."
So the insurer responsiblity is to indemnify you of your loss, meaning that they need to pay you ACV (actual cash value). The amount they pay you has to be enough for you to buy the same or similar make and model of what you had insured. Remember ACV is different than market value. Market value for the E30m3 is different because the price of the car to an enthusiast is much different from a none enthusiast. ACV is what you tend to look at through NADA and KBB or even Edmunds. You cannot rely on NADA because they give you general pricing meaning they do not calculate your area code and other factors that increase and decrease the valuation.

Second, you have to figure out your policy through your declaration page of what your insurance company, the insurer, will provide you in the time of a loss. The most important for us enthusiast is the appraisal clause or provision.
This clause or provision enables us the insured to hire our own appraiser to provide a valuation for our cars. The insurance company will also do the same. Both appraisers will get together and hash out their findings and come up with a valuation. Then you can deny the final pricing or accept. After this provision, then comes arbitration. A lot of people don't like arbitration but honestly this is the best option for us enthusaist because it's them against you. In my opinion this is good because you have something that they don't; knowledge of the market and your car. Attorney's know the law, insurance claims reps know basic insurance but not state insurance laws.

All you need to look up is your states insurance fair settlement practices in case of loss or total loss. Why your E30m3 is worth more than what the insurance is valuating yours at. Ask your insurance company the print out of the cars they have looked at to get their valuation. This is key because majority of the time the insurance company will only look at base models. For instance the AE86 which is a 1984-1987 Toyota Corolla GTS that comes in a coupe and hatchback. The insurance companies will look at all Corolla models (I owned this car). I have informed their poor settlement practices due to their knowledge of my car because a 1984-1987 Corolla Deluxe 4 door isn't an AE86. Sure the same make and model but when you look at model, model is also part of a trim. The AE86 is a sport corolla, RWD, and isn't the same as a Deluxe model. Also another car is the DC2 or 2nd Gen Acura Integra. I have a 2001 Acura Integra Type-R. The insurance company look at this car as a regular Integra until I educated them and threaten them suit against unfair settlement practices with a bad faith suit.

Very similar to the E30m3, these are production cars but only a limited production.

Third, most states have an insurance law that you have the right to negotiate, meaning they they will need to take steps to research your documents and findings before denying your offer. Or even they cannot jump to a final pricing without you agreeing meaning, they cannot cut you a check unless you agree. They have to provide documents of their market research or valuation.

Last of all, contact your states insurance department or insurance commissioners office and file a dispute against your insurance company and claims rep. Provide all your info. The insurance department and insurance commissioner acts as a 3rd party to help settle matters prior to court or any legal actions. Most states insurance commissioner will side with the insured, meaning you if you have substantial research and findings.

***Whenever you call and speak with a claims rep, you can always let me know that your conversation is being recorded. Most phones will let you records your calls. Perfect to use their words against you and the law.***

I hope this helps.

More info:

http://www.claimcoach.com/pdf/new_story_valuation.pdf

http://www.autoloss.com/Services/Online-Auto-Appraisals/Total-Loss-Appraisals-Fair-Market-Value-Appraisals.html

http://www.uphelp.org/pdfs/unfairclaimspractice.pdf

Mike

[kitsune]

Also remember this, the people who work in insurance as a claims rep or auto adjusters aren't always car enthusiast. Majority of them got into insurance because they graduated college and found a job that paid well. There are the low few that might say they're car guys but really they just like to look at nice cars meaning your typical Ferrari's and other expensive cars but knows nothing about cars or market driven cars like the E30m3.

Mike

[lambo]

arizona minimum for property damage is $10k. so $10k is the max they will give me for the car.

That is beyond ridiculous...

[kitsune]

arizona minimum for property damage is $10k. so $10k is the max they will give me for the car.

Property damage doesn't mean your car, it means the light post, gravel, trees, etc. Not your car.

I think it's time to talk to that person's supervisor and call the Insurance Commissioner for some intervention.

Mike

[akorcovelos]

^^^I like this guy!

[325Projectz]

Property damage doesn't mean your car, it means the light post, gravel, trees, etc. Not your car.

I think it's time to talk to that person's supervisor and call the Insurance Commissioner for some intervention.

Mike

i didn't want to quote your big post, but thanks for all that info! i'll be looking through those links. i'll buy you a beer next time i'm in seattle!

although, i have to question you why you say property damage doesn't include my car? what insurance does? there are two kinds as far as i know, property and medical. property insurance, as far as i'm being told from everyone including lawyers, covers everything damaged in the accident except medical and the other persons car who was at fault. so that includes my car, my rental car, light posts, trees, etc...

previously stated, az property minimum insurance is $10k. this kid only has $10k coverage. therefor, anything above and beyond $10k, i have to sue to get back. that's how i'm understanding it right meow. correct me if i'm wrong.

http://www.car-insurance-guide.us/coverage_property_damage.php