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Insurance doesnt want to give anthing for my M3

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  • Insurance doesnt want to give anthing for my M3

    So im the one that had the post before the old site crashed that my M3 was taken in the Atlanta area. I thought that was bad but now my insurance company doesnt want to give me what I think is a fair amount for my M3. Seeing if anyone on here has any experince that can help me fight with these guys, I havent been in the postion of having a car stolen or be a total loss before. I sent them pics and copies of receipts from all the work I had done to the car (I own a vw/audi shop) in the last 18 months. They offered me me $6100 for the car which I felt was way low. Cars in similar shape go for $12-$13000.

    If anyone has any suggestions or information that can help me get what the car is worth, please let me know!



    Last edited by g60mikey; 02-18-2007, 05:11 PM.
    88 M3
    86 16vg60 gti

  • #2
    WOW. what insurance company do you have? this is what I have been deathly afraid of.

    my insurance company is supposed to look at comparable cars in the area to determine a value, but with our cars being 20 years old that becomes harder to do vs. a 98 honda civic.
    ApexRaceParts.com - Facebook Fan Page - Twitter

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    • #3
      sorry to hear that...could you part it out? maybe you'll get more than the insurance giving you. and if you don't claim it, your insurance won't go skyrocket for the next ///M. good luck.
      regards, Ogi
      P.S. did you get your dtm mirrors? if you're selling would you let me know. thankx.
      :burn:RED DRAGON

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      • #4
        When my 93 GMC Typhoon was stolen Allstate checked online and the local classified ads to come up with a price for my loss. Luckly at the time they did there were a few in the area that were priced pretty high and they paid me accordingly to local market value which was more then I thought it was worth.

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        • #5
          Originally posted by ogi///M3 View Post
          sorry to hear that...could you part it out? maybe you'll get more than the insurance giving you. and if you don't claim it, your insurance won't go skyrocket for the next ///M. good luck.
          regards, Ogi
          P.S. did you get your dtm mirrors? if you're selling would you let me know. thankx.
          You can't part out a car that has been stolen from you...


          Your best bet is to start hitting the classified sections. Chronicle/print/save all the ad's that th cars are selling for. Not just asking prices, actual sale prices... Also, check on the SIG list. There is an insurance adjuster who owns an M3 there who may be able to help you.

          Best of luck,
          Chris
          Chris L.

          Spray paint and tire shine doesn't equate to a "restoration!"

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          • #6
            Insurance companies will always lo-ball their first offer, send then evidence of what it is going to cost to replace your car with something with similar mileage and condition. This has worked for me in the past, in the UK but insurance is insurance.

            Don't you guys have agreed value policies?

            Schwarz 1990 Sport Evolution

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            • #7
              Originally posted by UNHCLL View Post
              You can't part out a car that has been stolen from you...


              Your best bet is to start hitting the classified sections. Chronicle/print/save all the ad's that th cars are selling for. Not just asking prices, actual sale prices... Also, check on the SIG list. There is an insurance adjuster who owns an M3 there who may be able to help you.

              Best of luck,
              Chris
              oopps..my bad. I thought this was the car that claimed for wreckage.[oops]
              Ogi
              :burn:RED DRAGON

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              • #8
                Yes, just collect all the ads you can find, from your area and all over the country. The more evidence you can provide the better. I would also print out some writeups of the car from places like www.bmwmregistry.com so you can show why it's special
                "It is needless to say that self-propelling vehicles, like other machines, will never do as much for one who does not understand them as for one who does."

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                • #9
                  This is what I heard about handling a situation like this. I've read that if you find more cars similar to yours and show them this then they may give you more. Ultimately, I think its going to depend on how big of jackasses your insurance company is and if they want to give you what its worth.

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                  • #10
                    You Think That Is Bad?

                    84' euro m635csi 3.8 stroker. At 19 years old having your dream car is always a blessing, and I wrecked it in the rain a little over a year ago driving my friend to the airport at 5 am. Insurance refused to cover anything, claiming they would not offer collision after adding it 6 months prior. Company was Mercury. I'm still paying off the loan. The only positive I have over your loss is that I just pulled out the engine and am about to sell. I send my empathy. But I have heard that in general insurance companies pay less than blue book for cars, and as most of us know, e30's selling for $12k+ is a lot higher than what they say they are worth in KBB.com. Plus they usually take in consideration any stone chips and dings. Anything wrong is another reason for them to F* you over.

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                    • #11
                      Originally posted by IamTHORvikingGod View Post
                      84' euro m635csi 3.8 stroker. At 19 years old having your dream car is always a blessing, and I wrecked it in the rain a little over a year ago driving my friend to the airport at 5 am. Insurance refused to cover anything, claiming they would not offer collision after adding it 6 months prior. Company was Mercury. I'm still paying off the loan. The only positive I have over your loss is that I just pulled out the engine and am about to sell. I send my empathy. But I have heard that in general insurance companies pay less than blue book for cars, and as most of us know, e30's selling for $12k+ is a lot higher than what they say they are worth in KBB.com. Plus they usually take in consideration any stone chips and dings. Anything wrong is another reason for them to F* you over.
                      Ouch, that's scary as I also have Mercury. They are quite greedy when come to pay out. They told me they will only pay max of $5100 if my car total. Time to shop for a new one.
                      Because anything worth doing is worth doing fanatically!
                      Born date 01/88
                      Ryan

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                      • #12
                        Search Agreed Value policy for Custom cars on Google. I have an agreed policy for 20K on my car and it only costs $550 a year.

                        Or search here under the following keywords.
                        Hagerty, collector insurance, agreed value.

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                        • #13
                          Also search here and on the sig if you are a member for insurance claim. There have been a number of people that have succeeded in getting very fair settlements with the available information. Large piles of faxed information will help your cause...good luck cause I know this sucks for you.
                          88M3 henna


                          73T100C
                          97 540\6-Gone
                          2008 MINI Clubman S

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                          • #14
                            if you don't track your car then I would recommend Hagerty in a heart beat to anybody thinking of switching insurance companies. I spend hours and hours on the phone and researching the subject. Only problem with them is they don't cover any track incidents at all except for parade laps. any value you determine under 50k only needs 3 photos.

                            I'm still considering switching after reading this stuff, but a track accident even with a driving school is a 100% total loss including no medical coverage for me or anyone else I could potentiall injure (passanger)
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