INS totaling Car

ANMVQ · 05-10-2017, 07:59 AM

I was hit on the 28th( sitting still) and the appraisal to fix the car is $7405, when should I worry they would try to total the car? Car is a 2011 335XI with sport package and 64k miles? KBB says the cars trade in value is 12k and private party is only 14k? Thank you

robthewrench · 05-10-2017, 08:08 AM

So here's the question, if you didn't have a lot of mods, why worry about whether they total it or not?

With the private party estimate being $14K, the current repair estimate being a little higher than $7K, you are getting close to them totalling it out, but just wait and see?

If they total the car, you will probably get $14K and be able shop for another car. You have negotiating power here and don't have to take their first offer. Be sure to note any recent work to the car that would raise the value: new tires, wheels, etc...

The insurance company will want to total the car, if they believe the repair estimate could grow to be more than the market value. For most repair estimates, the initial estimate is lower than the final cost as more things are found and need to be fixed during the repair process. Really all they are trying to do is settle your claim at the lowest possible cost.

ANMVQ · 05-10-2017, 08:53 AM

Thanx, that's what I was afraid of. I just paid the damn thing off( 19k) I had gap INS on my loan also. So basically I lose 5k if the total it out, :/.. The repairs will probaly go up there are issues with the front end, and they are starting by replacing the drivers side strut and mount, but will mostly likely also need a wheel bearing and maybe tie rod lower control arm, or a rack. I drove it home( 1/4) and the steering wheel was almost upside down to go strait

smass · 05-10-2017, 11:08 AM

Insurance pay out for a total loss would be at retail value + sales tax. Private party value is not used for total loss. Total loss payout makes you whole. To get you where you were before the accident. It does not buy your car for what you could trade it in or sell it yourself.

Indyeah · 05-10-2017, 11:17 AM

I concur with Rob about them low balling you. If they give you a total loss offer you dont feel is fair fight it. Refuse it outright and demand more.

N52UNED · 05-10-2017, 11:34 AM

Honestly it's really hard to figure out for sure until they tell you.

I had an off-set crash in a Subaru Legacy which was 3 yrs old at the time. The repair estimate was $11K ... according to the insurance company the car's value was around $14K. The insurance co repaired the car. I think I had either Allstate at the time. It was a lease with gap coverage ... I was really hoping they'd total it out. It took a month for them to repair it. Sucked!

05-10-2017, 07:59 AM	#1
ANMVQ Lieutenant 114 Rep 399 Posts Drives: 2011 335XI Sedan Join Date: Sep 2015 Location: Work :) iTrader: (0)	INS totaling Car I was hit on the 28th( sitting still) and the appraisal to fix the car is $7405, when should I worry they would try to total the car? Car is a 2011 335XI with sport package and 64k miles? KBB says the cars trade in value is 12k and private party is only 14k? Thank you __________________ 2011 335XI
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05-10-2017, 08:08 AM	#2
robthewrench Captain 266 Rep 952 Posts Drives: 11 E90 335i Join Date: Aug 2014 Location: Columbus OH iTrader: (0)	So here's the question, if you didn't have a lot of mods, why worry about whether they total it or not? With the private party estimate being $14K, the current repair estimate being a little higher than $7K, you are getting close to them totalling it out, but just wait and see? If they total the car, you will probably get $14K and be able shop for another car. You have negotiating power here and don't have to take their first offer. Be sure to note any recent work to the car that would raise the value: new tires, wheels, etc... The insurance company will want to total the car, if they believe the repair estimate could grow to be more than the market value. For most repair estimates, the initial estimate is lower than the final cost as more things are found and need to be fixed during the repair process. Really all they are trying to do is settle your claim at the lowest possible cost. __________________ bone stock
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05-10-2017, 08:53 AM	#3
ANMVQ Lieutenant 114 Rep 399 Posts Drives: 2011 335XI Sedan Join Date: Sep 2015 Location: Work :) iTrader: (0)	Thanx, that's what I was afraid of. I just paid the damn thing off( 19k) I had gap INS on my loan also. So basically I lose 5k if the total it out, :/.. The repairs will probaly go up there are issues with the front end, and they are starting by replacing the drivers side strut and mount, but will mostly likely also need a wheel bearing and maybe tie rod lower control arm, or a rack. I drove it home( 1/4) and the steering wheel was almost upside down to go strait __________________ 2011 335XI
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05-10-2017, 11:08 AM	#4
smass Lieutenant Colonel 401 Rep 1,579 Posts Drives: 06 325i - 10 335i Join Date: Sep 2010 Location: Scottsdale, AZ iTrader: (1) Garage List 2010 E90 335i [0.00] 2016 F15 35i [0.00] 2003 E53 3.0 [0.00] 2006 E90 325i [0.00]	Insurance pay out for a total loss would be at retail value + sales tax. Private party value is not used for total loss. Total loss payout makes you whole. To get you where you were before the accident. It does not buy your car for what you could trade it in or sell it yourself.
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05-10-2017, 11:17 AM	#5
Indyeah First Lieutenant 143 Rep 374 Posts Drives: E92 328i 6MT SGM Join Date: Jun 2016 Location: Phoenix AZ iTrader: (0)	I concur with Rob about them low balling you. If they give you a total loss offer you dont feel is fair fight it. Refuse it outright and demand more.
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05-10-2017, 11:34 AM	#6
N52UNED Captain 180 Rep 601 Posts Drives: '07 328i/330BPC Join Date: Mar 2017 Location: Sunshine State iTrader: (1)	Honestly it's really hard to figure out for sure until they tell you. I had an off-set crash in a Subaru Legacy which was 3 yrs old at the time. The repair estimate was $11K ... according to the insurance company the car's value was around $14K. The insurance co repaired the car. I think I had either Allstate at the time. It was a lease with gap coverage ... I was really hoping they'd total it out. It took a month for them to repair it. Sucked!
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