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Insurance business is FOR PROFIT! (archive)
[ Follow Ups ] [ 5-series (E28) Message Board ] [ Msg. Board FAQ ]
Posted by Allen '86 528e 190K on February 10, 2002 at 22:51:43:

In Reply to: total loss value? posted by TAK on February 10, 2002 at 21:58:50:

You, the customer, have had a loss. Your insurance company (the guys who promised you the moon to get your business), are looking for a way to cut and run. They only owe you the "fair market value" of your car.

Next time you insure an older BMW, look for an insurance company that will enter into a contract to cover your restored vehicle. These companies are very rare, and would rather do business with owners of million dollar Rolls-Royces rather than owners of $2,000 (book value) BMWs with $3,000 of suspension, engine, or sound system improvements.

Not fair, but real-life.


I had an 86 535i in great running condition, custom wheels, exhaust and stereo. The only thing it needed was new paint. Then someone ran a red light and demolished my baby, leaving me in the hands of the insurance company which has offered $4,200 for the car. Should I take the money and run or look for a better offer. Just need a second opinion, Thanks,TAK




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