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-   -   Total loss (http://www.bimmerfest.com/forums/showthread.php?t=655339)

NeverOddOrEven 10-31-2012 08:06 PM

Total loss
 
79 year old man blew through a red light Saturday night and T-boned me. My car was the least of my worries as I had a full car of friends (including a 9-month pregnant friend with twins) in the passenger seat nearest the point of impact. He got a red light citation from the cop who responded to the accident and several witnesses are on file that corroborate the story.

The BMW kept us safe with all of its airbags (it has knee airbags, I never knew). Side-curtain airbags are a must in any car if you value your life.

The insurance company just took my car from the tow truck company yesterday so I will be in contact with them regarding the outcome (almost certain it's a total loss). The car was paid off so they should just cut me a check.

Anyone with experience dealing with total losses and insurance companies...am I entitled what I paid for the car or what it is currently worth? Had about 5,000 miles on it which I already told the insurance company about...

http://img152.imageshack.us/img152/8861/photo4ob.jpg

RIP.

hans007 10-31-2012 08:14 PM

usually you get the current value of the car, though i would imagine it wont be much off of what you paid. that still sucks though.

good to know you are not hurt. and for everyone else good to know BMWs can take a beating and protect their passengers

LarryboysUDM 10-31-2012 08:26 PM

Like what hans007 said...
I wish though that the person who totaled the car would pay for the cost of tax, tag, title, loss of value, etc... most likely yes if there was a lawsuit.
What matters most is your health, I hope all of you are ok...don't ignore other symptoms post accident.

woodswatchco 10-31-2012 08:42 PM

Sorry man. Glad you all are ok. Regroup and hopefully you are able to purchase such an awesome BMW again.

NeverOddOrEven 10-31-2012 08:42 PM

How will they know about all of the options I had added on to the vehicle? Maybe they will ask me and I haven't given them enough time...

Abspara 10-31-2012 09:11 PM

The insurance company will give you what the car is worth, not what you paid for it. They'll give you fair market value based off what other cars in your area are selling for with what your car has. An adjuster will look over your car and run your VIN to see what your car has as far as options, etc.
I do encourage you to fight for what you feel the car is worth however as that can sway the adjuster somewhat. Also, if you have added anything aftermarket, tell the adjuster about it and give him the costs of those items as well.

Sorry about your loss, and like others have said, dont ignore your body when it comes to recovery. I suggest you get checked out by your doctor ASAP and then any costs incurred you demand the insurance company from the guy who hit you pay for. Your passengers should do that as well.

ChrisF01 10-31-2012 09:11 PM

Glad you and your entire party are OK. Doesn't matter how much you're upside down, a hell of a lot better than not walking away from something like that...

That BMW did its job.


Quote:

Originally Posted by NeverOddOrEven (Post 7169250)
How will they know about all of the options I had added on to the vehicle? Maybe they will ask me and I haven't given them enough time...


I'd goto a dealership and get a copy of your window sticker based off your VIN. Too bad you didnt finance(with gap) or lease, your loss would have been very minimal.

floydarogers 10-31-2012 09:36 PM

Quote:

Originally Posted by NeverOddOrEven (Post 7169250)
How will they know about all of the options I had added on to the vehicle? Maybe they will ask me and I haven't given them enough time...

Make a list. They will adjust the price for owner-added options.

FYI for the future: many/most insurance companies offer full-replacement options, at least for the first couple years. Cost around $25/yr for me.

mr_clueless 10-31-2012 10:53 PM

What's the deal with so many brand new cars getting crashed? Already seen 2 right on this board, and there was the Active 3 test driver crash.

tturedraider 10-31-2012 11:09 PM

So thankful to hear you, your pregnant friend and others were protected!!

In your case, with such low mileage and such a short time of ownership the insurance should pay you the full MSRP of your car or at least the full sale price you paid. Their job is to make you whole. In your case the only way to make you whole is to pay to put you back into a new 2013 model. If they balk at that tell them straight up you will pursue legal action against them. They know they will lose that battle and will change their tune post haste. If you need to get your insurance company involved. They should have no problem paying to put you in a new car. Then they can pursue the at fault driver's insurance company in subrogation. You won't have to have any involvement in that.

In Texas the insurance settlement will include tax, title and all other government fees.

Good luck. I hope none of you have any serious, lingering post wreck injuries.

AntBabeee 10-31-2012 11:28 PM

Quote:

Originally Posted by floydarogers (Post 7169313)
Make a list. They will adjust the price for owner-added options.

FYI for the future: many/most insurance companies offer full-replacement options, at least for the first couple years. Cost around $25/yr for me.

What insurance do you have. I'm interested in that $25/yr for full replacement.
--------------------

OP: glad one everyone is ok. Do go get checked out though. I or rear ended couple months back. Seemed fine at the time. Following days back and neck started hurting.

NeverOddOrEven 10-31-2012 11:31 PM

Quote:

Originally Posted by tturedraider (Post 7169404)
In Texas the insurance settlement will include tax, title and all other government fees.

That's good to hear. Do you happen to have a source for that?

I just gave my official recorded statement to the adjuster yesterday and he got most of the statements from my 4 friends that were in the car with me. We haven't so much as mentioned compensation for the vehicle. It would be great if I could get TTL.

There are plenty of lawyers that seem more or less desperate to take on these kinds of cases. I emailed a few and they responded pretty quickly but I never followed up. I guess I want to see how the process goes at first...my insurance has covered all of our injuries so far.

tturedraider 10-31-2012 11:40 PM

Quote:

Originally Posted by NeverOddOrEven (Post 7169413)
That's good to hear. Do you happen to have a source for that?

I'm sure finding an official source would not be too hard to find. My source is personal experience on three occasions over more than 34 years as a Texas driver and being a very detail oriented person who pays attention to information like this.

Leslierc 11-01-2012 03:45 AM

I echo others here in being thankful for the safety of everyone involved. The safety of you and your passengers is certainly a testament to the BMW being such a well engineered vehicle. As for the insurance, check your contract before you discuss anything regarding the value of your vehicle. The contract will control your insurance company's obligations in this regard. Speaking in the abstract, any new car loses value the moment you drive it off the dealer's lot. So, unless your contract mentions replacement value, or you have GAP insurance, you shouldn't expect to receive the full MSRP/what you paid for the vehicle. In typical circumstances, your vehicle is worth its fair market value the moment before the accident. Good luck with everything!

bayoucity 11-01-2012 05:10 AM

Quote:

Originally Posted by tturedraider (Post 7169417)
I'm sure finding an official source would not be too hard to find. My source is personal experience on three occasions over more than 34 years as a Texas driver and being a very detail oriented person who pays attention to information like this.

:thumbup: You are correct. I deal with total loss on daily basis.

p/s It is referring to " In Texas the insurance settlement will include tax, title and all other government fees."

Jackson743 11-01-2012 05:48 AM

Unfortunately I believe the person telling you'll get the price you paid for the car is incorrect. I wish that were the case. Unless you have some special terms, you'll get what the car is worth. That may be full price paid. Maybe you got a stellar deal, but the insurance company's responsibility is to cover you for the value of what was lost. It's not to "make you whole" or buy you a replacement car. I thought this is just common knowledge.

Sorry.

But, the one thing I wanted to add was, any modifications or aftermarket items that the insurance company doesn't know about may not be covered. It appears you have M5 replica wheels. Your policy covers specific items and your quote/cost reflects that. Meaning, if you had $8k HRE wheels, and they were totaled as well, and the insurance company didn't know about them, you're not going to get compensated.

Glad to hear you and your passengers, especially the expecting mother, are uninjured. That is what counts. And, job well done for your departed F30.

voip-ninja 11-01-2012 06:15 AM

The insurance company is obligated to make you whole, so I would still give them the price you paid for the car and point out you got it recently, with many options and it has very low miles.

They will usually try to make things right... you will have to order a new car though and they won't pay for a rental for 10 weeks while your new car ships in.

Glad everyone is okay. That car did what it was supposed to do in a situation like that.

White05X3 11-01-2012 06:45 AM

I am glad to read that everybody was ok. Scary stuff indeed! As for the car, the good news is BMW will happily sell you another one just like that one. The single most important thing is that the people are safe. Take good care of yourself!

The other carrier will make an initial offer, which will be low. That is simply a number with which to open negotiations. A reasonable demand from you is the purchase price minus a reasonable charge for mileage (figure $.10 a mile). I would not expect to get reimbursed for the cost of upgrades, but you should ask for it anyhow. If at any point in the negotiation process you feel that the other carrier is being unfair, immediately stop speaking with them directly and get legal representation. Be thoughtful with what you say and concede nothing that would allow the other carrier to reduce the fault of their insured. Make sure to keep repeating that fault rests solely with their insured driver. Also be sure to immediately report the accident to your insurance carrier also (if you haven't done so already).

Again it is great to read that you are ok. Good luck resolving this issue!!

floydarogers 11-01-2012 07:38 AM

Quote:

Originally Posted by AntBabeee (Post 7169412)
What insurance do you have. I'm interested in that $25/yr for full replacement.
--------------------

OP: glad one everyone is ok. Do go get checked out though. I or rear ended couple months back. Seemed fine at the time. Following days back and neck started hurting.

I have Farmer's (not state farm); might have been $25/6 months, but still.

And after perusing other posts, I note that I was totally remiss in thanking providence and BMW engineering for the op escaping serious injury.

tturedraider 11-01-2012 08:10 AM

Quote:

Originally Posted by tturedraider (Post 7169404)

In your case, with such low mileage and such a short time of ownership the insurance should pay you the full MSRP of your car or at least the full sale price you paid. Their job is to make you whole. In your case the only way to make you whole is to pay to put you back into a new 2013 model. If they balk at that tell them straight up you will pursue legal action against them. They know they will lose that battle and will change their tune post haste. If you need to get your insurance company involved. They should have no problem paying to put you in a new car. Then they can pursue the at fault driver's insurance company in subrogation. You won't have to have any involvement with that.

I stand by this statement 100%. The OP's case falls into a fairly rare category. The vast majority of insurers will pay the full amount to replace the car with a new one in cases such as this without a hassle. I am not a person who makes a habit out of talking out of my butt.

Unless the OP has a major problem getting the at fault driver's insurance company to pay, his insurance company will have nothing to do with handling this property damage claim.

graphicguy 11-01-2012 08:13 AM

Glad you and your passengers are OK.

Now, the tough part....dealing with the old man's insurance company. Some will fight you, some won't.

In this case, they shouldn't fight you. You have a new car that looks to be totalled. Kind of hard with the pics to deny that.

You may, or may not, have injuries that show up somewhere down the line. The insurance company is going to want you to get a physical to make certain you're "OK" right now. But, that doesn't cover any unforeseen problems in the future.

Based on all of that, you want like for like with your car. You're out of pocket should be non-existent. Except, as pointed out, if you special order a car and have to wait 10 weeks to get it. Rental car would not be covered.

They shouldn't, but if the insurance company won't replace your new car with another new car, they're going to try to wait you out. Don't sign anything. Tell them exactly what you want. Let them turn you away. Be sure to keep reminding them of the future physical maladies that may occur. And, tell them you'd prefer not to litigate the issue.

If you move quickly, you put the onus of responsibility for them to move quickly. Assume they'll replace your car with a new one. Have your dealership give you the configuration of your totalled car, and the cost of a new car configured identically. Give that to the insurance company showing you'd like to sign their wavers and replace your car as quickly as possible.

How do I know all of this? It's happened to me before....twice!!!!!!

Both times, I was in the same model year as what the dealer was selling new. First one took 3 months to get a new car (farmers). Fortunately, I had another car to drive so I was in no hurry to settle with them. The 2nd time, it took 2 weeks. Insurance company was a pleasure to work with (State Farm).

CALWATERBOY 11-01-2012 08:24 AM

Quote:

Originally Posted by NeverOddOrEven (Post 7169180)
I entitled what I paid for the car or what it is currently worth? Had about 5,000 miles on it which I already told the insurance company about...


You'll receive fair market value, usually an unpleasantly low number vs expectation. Just driving it off the dealer's lot, minutes old, is a significant hit.

However, the other driver's insurance company may be on the hook for cost of replacement. Expect them to cheap out, hoping you'll take the offer. Talk to your insurance company about legal options, as a start.

cullen 11-01-2012 08:56 AM

I totaled a 2010 328i back in August. My fault, my insurance (State Farm). I was worried the settlement would be low. I checked the blue book value and retail was around $25k. I had 49k miles on the car. They gave me $32k for the settlement, which included tax.

miamiboyca 11-01-2012 09:05 AM

Whatever the end result your insurance company offers you, remember you can negotiate.

tturedraider 11-01-2012 11:45 AM

Quote:

Originally Posted by miamiboyca (Post 7169931)
Whatever the end result your insurance company offers you, remember you can negotiate.

Folks (not just you), the OP's insurance company isn't going to offer him anything. They are not the ones paying the claim. The other driver's insurance company is liable to pay this claim.


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