05-19-2020, 08:50 PM | #67 | |||
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OP, my M2C was hit on the front drivers side at a much slower speed. 27k repair bill. Nationwide did not and would not total. 2.5k diminishes value. All I. All they spent 30k to fix a 50k car and I fought with them exhaustingly to total it. They said according to Texas state law, can be up to 100% of value before they need to total it. Nationwide is a shit company though so maybe you'll have better luck. YMMV Glad you're ok though and I really hope you leased it.
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05-19-2020, 09:10 PM | #68 |
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What does MS law say about totaling, any threshold?
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05-19-2020, 10:11 PM | #69 | ||||
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05-19-2020, 10:15 PM | #70 | |||||
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05-19-2020, 11:07 PM | #71 | |||||||
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They leave repairs open for supplemental damages It's unreasonable to expect a tear down at body shop as soon as the car is in an accident... |
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05-19-2020, 11:14 PM | #72 | ||||||||||
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The change in premium I was referring to was the market value of car not points on a license; good stuff not at fault. The money you received may have been punitive damages the attorney negotiated or pain and suffering. Even if you don't treat with a dr. You can get pain and suffering. Nice it worked out for ya in the end! |
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05-19-2020, 11:25 PM | #73 | ||||||||||||||||
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Sucks cause as the insured you forced to play by insurance company rules. This is new to me; Insurance companies determine a car to be totaled when the vehicle's cost of repair plus the salvage value is more than the actual cash value of the vehicle. When I did claims once the car got up to 50 or near 50% ACV I'd submit for TL As a long time car enthusiast some claims were entertaining I remember a Claimant trying to get more money. I asked how was the car running before the accident? Told him I'm paying as if your Audi 5000 was mint no issues. He got silent lol Have a nice day! |
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05-20-2020, 12:01 AM | #74 |
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I used to work at an auto body shop as an estimator, normally this appears to be totally repairable. However, I don’t know if people are considering the “Carbon Core” of this vehicle. That could be a game changer and instant total loss. Keep us posted, as you have noticed the intense interest in this topic. And yes, if it was leased this is an excellent example of why Zero DAS is ideal, if purchased than you are relying on blue book or NADA or however the insurance company comes up with current value.
Hope it all works out somewhat in your favor, glad you are ok after the incident. And I feel for you, man I would be pissed if my car which I worked on a deal for 2 months got totaled after only a few months. |
05-20-2020, 02:51 AM | #75 | |
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05-20-2020, 03:17 AM | #76 |
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05-20-2020, 06:47 AM | #78 | |
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If it's a lease car it's no problem if it's considered a total loss. But for people who bought theirs car, they will lose money with a total loss. You have the problem, that the car has been damaged and thus paint will be not factory anymore. |
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05-20-2020, 06:55 AM | #81 |
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[QUOTE=2011ninja;26200125]I'm guessing The at fault party paid for repairs and their was no subrogation.
The change in premium I was referring to was the market value of car not points on a license; good stuff not at fault. The money you received may have been punitive damages the attorney negotiated or pain and suffering. Even if you don't treat with a dr. You can get pain and suffering. Nice it worked out for ya in the end![/QyUOTE] The punitive damages, lost wages, diminished earning capacity, and medical expenses were all resolved much later. I never learned exactly why the insurance companies took different tacks on the repairs. I guess it worked out financially, but I would rather have a fully functioning spleen. And more on topic to the BMW forum, I am thankful today to drive a car that would better protect me in a similar accident. |
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05-20-2020, 01:42 PM | #82 |
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If it's prepaid doesn't that mean you lose the money? With the exception of the at fault drivers insurance company reimbursing you for it.
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05-20-2020, 03:52 PM | #83 |
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If the hit was at 65 MPH it held up incredibly well.
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05-20-2020, 04:02 PM | #84 |
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insurance companiez are weird. they paid $5500 in repairs on a car that's worth $7000 in private and $6000-6500 in trade in before a carfax collision.
so i'm stuck with my shitbox but such is life |
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05-20-2020, 04:59 PM | #86 |
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Not an expert, but this car doesn't seem totalled at all.
Certainly since it's this new, the repair invoice will be clearly less than a sudden write-off minus the wreck value (which would be about 40% of new value). Of course, all unfounded guesses. But nonetheless, I would be surprised to see this become a total loss case. |
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05-20-2020, 09:50 PM | #88 |
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I didn't read 4 pages of comments. A few questions
Did any airbags deploy? If airbag(s) deployed then that'll add many thousands to the repair. Or tens of thousands... Who is your insurance carrier and do you have an agreed value endorsement on your policy? If so, your car should still be valued at every penny you paid for it. Otherwise depreciation will be taken. Obviously, if a lease, not your problem as you have gap insurance. Is car owned or leased? Diminished value claims are commonly rejected for lease cars since you don't own it. This is statutory in many states. Good luck however it works out and thankfully no one was hurt.
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