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F10 / F11 (2011 - Current)
The new chapter in the highly successful story of the BMW 5 Series Sedan (F10) and wagon (F11)

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  #51  
Old 03-04-2014, 10:25 AM
Alpine300ZHP Alpine300ZHP is offline
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Quote:
Originally Posted by WJGreer View Post
They use comparable sales in your area rather than book values. The best you can do is challenge that their comps aren't comparable, like in a real estate appraisal.

I suppose as a last resort you could litigate. The insurance companies' legal resources are vastly superior to yours and you would quickly spend away any advantage you may gain in that process, and then start to go in the hole. I don't recommend that approach.
No..don't litigate. As a lawyer I can tell you the costs would outweigh the benefits. Best way to handle this is to work with the adjuster to get the value increased as much as possible and walk away.
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  #52  
Old 03-04-2014, 10:27 AM
rauan rauan is offline
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Quote:
Originally Posted by Alpine300ZHP View Post
Dispute the valuation and see if they will come up. Personally, I always finance my cars and put nothing down while buying gap insurance to hedge against things like this happening. My last car to be totalled was a 135 coupe and it came back much lower than what I thought it was worth. I did not care since it was 100 percent financed and I had BMW's gap insurance. Good luck and next time pay the 500-800 for gap insurance....it is worth it.
I think I have gap insurance. How does it help me in this situation?
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  #53  
Old 03-04-2014, 10:35 AM
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Originally Posted by rauan View Post
I think I have gap insurance. How does it help me in this situation?
Agreed. I understand gap insurance as protection against any spread between a loan amount and the value of the car, not as protection against the value of the car being lower than the owner wants it to be.
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  #54  
Old 03-04-2014, 10:39 AM
CHSBoater CHSBoater is offline
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Why don't you go to your dealer and ask for his help with the valuation. Since you are going to order a new car, he should be more than able to provide you with favorable comps, as well as advice.
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  #55  
Old 03-04-2014, 10:56 AM
rauan rauan is offline
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Originally Posted by CHSBoater View Post
Why don't you go to your dealer and ask for his help with the valuation. Since you are going to order a new car, he should be more than able to provide you with favorable comps, as well as advice.
I am buying a new car from different dealer than I bought my totalled car from. Do you think he still can help me?
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  #56  
Old 03-04-2014, 11:33 AM
Alpine300ZHP Alpine300ZHP is offline
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Quote:
Originally Posted by WJGreer View Post
Agreed. I understand gap insurance as protection against any spread between a loan amount and the value of the car, not as protection against the value of the car being lower than the owner wants it to be.

Exactly correct.


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  #57  
Old 03-04-2014, 01:18 PM
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I am buying a new car from different dealer than I bought my totalled car from. Do you think he still can help me?
That's not going to help unless your dealer has an identical optioned 2011 535i for sales on the lot with similar mileage. Just being honest here.
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  #58  
Old 03-04-2014, 02:05 PM
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As to the value, you are due 100% of full retail value plus taxes and fees. Look for cars similar to yours for sale at retail at dealerships on Autotrader, Cars.com, etc., and on the bmwusa.com CPO page.

Good luck.
^this is what you need to do. Find cars as similar to yours as possible. If they lack some of the options then add for those. Print these examples to present to the insurance company.

The insurance company needs to pay you the full reasonable RETAIL value of your car. Not any kind of discounted value. The theory is if you were to be able to find a car identical to yours for sale at a dealer at retail you should be compensated enough to buy that car at the asking price (or very close to that).
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  #59  
Old 03-04-2014, 07:34 PM
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Originally Posted by tturedraider View Post
^this is what you need to do. Find cars as similar to yours as possible. If they lack some of the options then add for those. Print these examples to present to the insurance company.

The insurance company needs to pay you the full reasonable RETAIL value of your car. Not any kind of discounted value. The theory is if you were to be able to find a car identical to yours for sale at a dealer at retail you should be compensated enough to buy that car at the asking price (or very close to that).
Thank you! Just prepared two cases from Cars.com. Unfortunately there is no car in entire internet loaded like mine
But I should be able to highlight the differences of the two cars I prepared.
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  #60  
Old 03-04-2014, 07:39 PM
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That seems like a low estimate. Was the mileage on the car really high? My 2011 535i was totaled in December and the insurance payoff was $41K. This was based on a survey of recently sold similar cars in California. My car was fairly barebones (new MSRP about $54K).
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  #61  
Old 03-04-2014, 07:43 PM
rauan rauan is offline
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My car's mileage was ~28000 and it was ~$84K MSRP. Crazy, isn't it?
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  #62  
Old 03-06-2014, 09:40 AM
rauan rauan is offline
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Here is my latest update. I got a call yesterday and an agent provided updated valuation form (attached) with adjusted vehicle value of $ 40,486.00.

They used three vehicles in Oklahoma calling them "comparable vehicles". I used BMW vin code translator and attached what these vehicles have. I also attached mine to see the difference. When I compared I found that these vehicles do not have following options/packages that is available in mine:
Electronic Damper Control (EDC)
Dynamic Drive
Steering wheel heater
Sport automatic transmission
Chassis & suspens. setup"Adaptive Drive"
Integral active steering
M Sports package
Climatised fornt seats
Active seat for driver and passenger
Autom. climate control with 4-zone ctrl
Blow-by heater
High-beam assistant
Lane departure warning
Lane-change warning
Active cruise control+Stop&Go function
Surround View
Head-up display
HiFi System Professional DSP (only one vehicle of three has this option, WBAFR7C57BC802107)
Rear-compartment entertainment
Night Vision with human recognition
Control for Combox (only on vehicle has it, WBAFR7C57BC802107)
Instrument cluster, expanded equipment
M leather steering wheel
M Aerodynamics package

Their comparison on page 12. They also mentioned that there is additional vehicle available in Tulsa for $42253 (page 17) that had exactly the same list of equipment as mine and vin check return me this when I tried to decode it: No data related to D802518 was found!

I sent them the bill for 4 tires I bought end of december 2013 and they added it in Vehicle Condition page (page 6) for only front tires with estimation of $68.

Overall their valuation form looks suspicious to me.

What is your option? Comments, recommendations?
Attached Files
File Type: pdf Valuation Summary.pdf (172.2 KB, 24 views)
File Type: pdf WBAFR7C57BC802107.pdf (717.3 KB, 11 views)
File Type: pdf WBAFR7C55BC605954.pdf (560.3 KB, 14 views)
File Type: pdf WBAFR7C5XBC604735.pdf (711.2 KB, 16 views)
File Type: pdf Total loss_WBAFR7C53BC804307.pdf (862.9 KB, 33 views)
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  #63  
Old 03-06-2014, 09:55 AM
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This thread makes me glad I lease! To the OP- good luck, it's a major pain to go through all this.
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  #64  
Old 03-07-2014, 09:45 AM
rauan rauan is offline
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Is uninsured and underinsured the same things?
I think I do not have unisured motorist coverage, does this mean I do not have underinsured automatically?
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  #65  
Old 03-07-2014, 09:50 AM
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Is uninsured and underinsured the same things?
I think I do not have unisured motorist coverage, does this mean I do not have underinsured automatically?
In TX, there are 2 separate endorsements. Not all carriers offer both endorsements. The more common is Uninsured Motorist coverage. Many carriers offer both Uninsured/Underinsured together.

Just FYI, Uninsured Motorist won't do you good in this case because Dodge's driver has insurance. Now, Underinsured endorsement will help you. If you don't elect to choose Uninsured Motorist at the beginning, there is zero chance you will be covered for Underinsured. Both of those endorsements go hand in hand.
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  #66  
Old 03-07-2014, 10:20 AM
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bayoucity bayoucity is offline
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Hey man, I'm sorry for your loss. You ought to talk to your servicing agent as you pay premium and he earns commissions.

Since you are moving here, is your current policy bind in OK or TX?
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  #67  
Old 03-07-2014, 10:56 AM
rauan rauan is offline
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At the moment it is Oklahoma.


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  #68  
Old 03-07-2014, 11:09 AM
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At the moment it is Oklahoma.


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Dude , Contact your agent.You pay him or her commissions , right? OK policy is structured a little different than TX.
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  #69  
Old 03-07-2014, 12:19 PM
rauan rauan is offline
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Dude , Contact your agent.You pay him or her commissions , right? OK policy is structured a little different than TX.
I did a few days ago.
Agent replied:
"My recommendation is for you to speak to the adjuster's supervisor. We do not handle the claims process, so the supervisor will be your best option. They determine the actual cash value of the vehicle at the time of the loss, which includes the vehicle's pre-loss condition, mileage, and other factors the supervisor can go into detail with you."
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  #70  
Old 03-07-2014, 12:28 PM
rauan rauan is offline
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Called my insurance to verify regarding uninsured motorist coverage. I was told that I do not have coverage for uninsured and underinsured motorist. I was also told that uninsured motorist coverage is only for injuries and I am covered for car damage even if another person doen't have insurance or doesn't have enough PD amount that covers the damage.
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  #71  
Old 03-07-2014, 12:38 PM
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Originally Posted by rauan View Post
Called my insurance to verify regarding uninsured motorist coverage. I was told that I do not have coverage for uninsured and underinsured motorist. I was also told that uninsured motorist coverage is only for injuries and I am covered for car damage even if another person doen't have insurance or doesn't have enough PD amount that covers the damage.
In TX, we have UBI/UPD under Uninsured &/or Underinsured. TX policy holders are allowed to choose difference limit as long as it is no greater than their current liability limit. Where UBI is Uninsured/Underinsured Bodily Injury & UPD is Uninsured/Underinsured Property Damage. Assuming you aren't injured in this claim, then UPD will help you with monetary losses. Again, OK has difference policy than TX. It's time for 2nd opinion as I know nothing about OK insurance contract.
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  #72  
Old 03-07-2014, 12:44 PM
rauan rauan is offline
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Does anyone know if dealers keep original or used cars window sticker with prices and options listed? Adjusters working on evaluation of my car asked me if I can provide that information.
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  #73  
Old 03-07-2014, 11:58 PM
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Quote:
Originally Posted by rauan View Post
Does anyone know if dealers keep original or used cars window sticker with prices and options listed? Adjusters working on evaluation of my car asked me if I can provide that information.
Official pricing sheet - http://www.bimmerfest.com/forums/sho...hlight=pricing
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  #74  
Old 03-08-2014, 10:01 AM
CHSBoater CHSBoater is offline
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Does anyone know if dealers keep original or used cars window sticker with prices and options listed? Adjusters working on evaluation of my car asked me if I can provide that information.
If you give your dealer the VIN number they can pull it.
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  #75  
Old 03-08-2014, 11:08 AM
rauan rauan is offline
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Originally Posted by CHSBoater View Post
If you give your dealer the VIN number they can pull it.

I called them yesterday and sales guy I was bought the car from said he can pull original window sticker. I asked him to give me estimated sale price for my car. He promised to send it to me but didn't send anything yet.


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