1992 525i Possible Total Loss

[Asharus]

Hi all. I lost control of the car today on the parkway and possible totaled the car. Has anyone gone through a total loss through their insurance company? I have a $1k deductible. Any tips? I'm planning on taking the wheels as well as the XM Radio/XM Antenna/XM Tuner. Should I buy it back after the total?

The insurance company will be inspecting the car tomorrow which is at the body shop right now.

[Alexlind123]

It depends how much you could buy it back for. If it is damaged alot, you might be better off either buying it back and parting it out or fixing it. I would guess that it would be better for you to buy it back and fix it because of your modifications; the insurance company may not raise the value because of them, but the car is worth more because of them.

Edit: Your car looks (looked?) really nice, if you have pictures from before the damage (or after) i would like to see them.

[632 Regal]

yes we demand pictures!

Pull as many mods off as you can if the car is totaled and start shopping for a new one, between your thousand bucks and the value they put on the car it might not be worth buying back....would be easier if we had pictures.

[willobmw]

Glad you are OK.

[Rigmaster]

Every time someone wrecks their car, someone else give the advice of "keep it and part it out- you'll make a$$loads of money!!!"

This advice needs to be take with a grain of salt, as there are alot of things to consider before you think about parting out a car. Do you have lots of space where you can store a wrecked car?? Any neighbors/wife/SO etc that might not like a partially stripped car sitting in your yard or driveway for months or more?? Do you have plenty of free time to take pics of every little part, answer emails about said parts, pull/pack/ship said parts in a timely manner?? Do you have the ability and/or desire to ship large things like engine, tranny, large body parts, etc?? These are just a few things to consider before you decide to keep it and part it out. Think long and hard about it before you decide. You can probably make money on the car, but once a few choice bits are gone, you have a bunch of parts that are not in high demand, and a car that is not easy to move around.

Be nice to the body shop that currently has the car, and be as nice as you can to the adjuster who looks at your car. Insurance companies will often make it REALLY difficult for you to remove any parts from your car, but if you are nice to the bodyshop and the adjuster, they might let you swap wheels (they will probably not let you take the wheels and leave the car sitting on the ground)- maybe find some steelies or some bent bottlecaps or E28 TRX wheels to put on there. Once the adjuster looks at the car, anything that's in/on the car will be inventoried and they will expect it to be there if they end up totalling the car and taking posession of it. If you take the XM stereo out- put some sort of POS radio back in the hole, even if it doesn't work and you don't hook it up. You might be able to take the side skirts off without them noticing.

It does not take much to total an E34, even a small fender bender could do it. Don't be surprised if they total it, and then try to lowball you on the value of your car. Don't take their first offer, be polite but firm (and reasonable). If you are without the car for a period of time, but don't make them pay for a rental car (assuming rental car is part of your coverage...), then mention that you saved them $$ by not getting a rental, but if they feel the need to drag out the settlement, you might need to have a rental car because you can't do without any longer. Do some research NOW on the prices of E34's in similar condition (engine, mileage, year, etc) so you are prepared when they try to settle with you. Don't expect to get ANY extra $$$ for any mods- they really do not add to the value as far as the insurance company is concerned.

Good luck.

Bret

[Jay 535i]

Last winter my wife wrote off a 1995 Audi S6 (yes S6 -- no typo )

We were so distraught we decided to just leave it in our insurance broker's hands. Their offer was more than fair. They gave us CDN$16k for the car. We'd paid 13k for it. So we were happy.

'Course, part of our happiness was due to the fact that we'd bought the car in a private sale and got a very good deal on it. So the "fair market value" that the insurance co. offered us was more than what we'd paid. Your mileage may vary.

My understanding is that, in these cases, the insurance companies go by the "fair market value", which is determined by some combination of blue-book value and the actual selling prices of similar cars in your area. So, they're generally fair. Best to just take the money, replace the car and forget the whole nasty mess every happened, IMVHO.

Sorry it happened to you. It sux, for sure. I like your plates, BTW.

[dacoyote]

Coming from the man that would know...

This is good advise....

[Qube]

If you want to think about parting out, contact the enthusiasts in your area.

[theirongiant]

If you're going to part it out, I want the lower seat assembly. I need a new gearbox, as mine is stripped and the backrest isn't working anymore.