M2 Got into 2 Accidents in 3 weeks.

sapbasis5150 · 02-25-2020, 09:17 PM

Quote:

Originally Posted by LuvMyE92

I feel you, OP. Your car has lost its cherry.

As others mentioned, that does now give you a little bit of freedom, since you don't have to worry about that first door ding.

As for the DV (diminished value) claim, I can tell you that
a) it is a real thing and
2) it is a difficult claim (from what I have heard)

But if you persevere, you should be able to get something for it. Granted, it will not be as much as you think it should be, it never is, but it will likely be worth the effort.

Best of luck.

Diminished Value is real and insurance companies do pay it. The key is to fully document the value of the car prior to the damage, document the value of the car after the damage and show the diminished value isn't due to the quality of the repairs.

The fight isn't filing the claim for dv but fighting for the an amount which is fair and just. 3 years ago my TTRS was rear ended by a girl on a cell phone. $17K in damage and self-negotiated with her insurance for a $9K dv settlement.

Just rear ended in my M2 this past October and waiting on an $8K dv settlement check. If you want to file a dv claim, make sure you file the property damage claim against the other driver as you cannot claim dv from your own insurance company.

nioh_lbbm2 · 02-25-2020, 09:49 PM

Quote:

Originally Posted by sapbasis5150

Quote:

Originally Posted by LuvMyE92

I feel you, OP. Your car has lost its cherry.

As others mentioned, that does now give you a little bit of freedom, since you don't have to worry about that first door ding.

As for the DV (diminished value) claim, I can tell you that
a) it is a real thing and
2) it is a difficult claim (from what I have heard)

But if you persevere, you should be able to get something for it. Granted, it will not be as much as you think it should be, it never is, but it will likely be worth the effort.

Best of luck.

Diminished Value is real and insurance companies do pay it. The key is to fully document the value of the car prior to the damage, document the value of the car after the damage and show the diminished value isn't due to the quality of the repairs.

The fight isn't filing the claim for dv but fighting for the an amount which is fair and just. 3 years ago my TTRS was rear ended by a girl on a cell phone. $17K in damage and self-negotiated with her insurance for a $9K dv settlement.

Just rear ended in my M2 this past October and waiting on an $8K dv settlement check. If you want to file a dv claim, make sure you file the property damage claim against the other driver as you cannot claim dv from your own insurance company.

It also greatly depends on the at fault driver's PD limits as well. Tons of scumbags driving with state minimums which are criminally low limits

jessetaylor1 · 02-26-2020, 07:39 AM

Quote:

Originally Posted by sapbasis5150

Diminished Value is real and insurance companies do pay it. The key is to fully document the value of the car prior to the damage, document the value of the car after the damage and show the diminished value isn't due to the quality of the repairs.

The fight isn't filing the claim for dv but fighting for the an amount which is fair and just. 3 years ago my TTRS was rear ended by a girl on a cell phone. $17K in damage and self-negotiated with her insurance for a $9K dv settlement.

Just rear ended in my M2 this past October and waiting on an $8K dv settlement check. If you want to file a dv claim, make sure you file the property damage claim against the other driver as you cannot claim dv from your own insurance company.

Good info, thanks.

How did you go about valuing the car prior and post accident?

LuvMyE92 · 02-26-2020, 12:17 PM

Quote:

Originally Posted by nioh_lbbm2

It also greatly depends on the at fault driver's PD limits as well. Tons of scumbags driving with state minimums which are criminally low limits

I think my state (NC) minimum is $50K for property damage. How many of us here have a car that cost more than $50K? Anyone? Anyone?

That's why you should always also carry under/uninsured coverage. It's cheap.

LuvMyE92 · 02-26-2020, 12:18 PM

Oh, and before I forget, remember my two pet peeves:

- insurance laws vary between states
- never believe/trust/follow any information you get on an Internet forum

nioh_lbbm2 · 02-26-2020, 12:24 PM

Quote:

Originally Posted by LuvMyE92

Quote:

Originally Posted by nioh_lbbm2

It also greatly depends on the at fault driver's PD limits as well. Tons of scumbags driving with state minimums which are criminally low limits

I think my state (NC) minimum is $50K for property damage. How many of us here have a car that cost more than $50K? Anyone? Anyone?

That's why you should always also carry under/uninsured coverage. It's cheap.

I'm referring to trying to recover DV on top of the repair costs of your car. UIM/UM won't cover DV.

Some states have PD as low as $5k. Ridiculous that that can even be possible.

amancuso · 03-02-2020, 07:18 PM

That sucks. I got a big door ding in mine and thought it wouldn't be able to come out. Luckily PDR got it out. Just last week I was driving and out of nowhere a stone hit the roof and left two small stone chips in the paint on the roof. I guess thats what touch up is for.

jessetaylor1 · 03-02-2020, 08:08 PM

Still waiting to hear back from GEICO. Talked to them Wednesday of last week and they said they'd reach back out in 24 hours. Nothing. Called again today and said it'll be within 48 hours.

I hate insurance companies.

buckybadger · 03-04-2020, 08:52 AM

I got rear ended at 5 mph by an idiot... it happens but it's just a car.

hz101 · 03-10-2020, 04:16 PM

I got hit by a lady who ran a stop sign back in January. Total damage was about 14k. There is also a little bit of structural damage involved, which seems to lower the resale value by a lot. I am filing a diminished value claim against Progressive which is known for underpaying claims. But thankfully in MD you can take the at fault party to court for diminished value.

jessetaylor1 · 03-10-2020, 04:22 PM

Quote:

Originally Posted by hz101

I got hit by a lady who ran a stop sign back in January. Total damage was about 14k. There is also a little bit of structural damage involved, which seems to lower the resale value by a lot. I am filing a diminished value claim against Progressive which is known for underpaying claims. But thankfully in MD you can take the at fault party to court for diminished value.

Good luck

hz101 · 03-10-2020, 04:31 PM

Quote:

Originally Posted by jessetaylor1

Good luck

Thanks and good luck to you too!

Too many bad drivers out there unfortunately but that shouldn't deter us from driving fun cars

nathanm4 · 03-10-2020, 06:12 PM

My car got rear ended twice within 10 months. I feel ya.

jessetaylor1 · 03-10-2020, 06:22 PM

Quote:

Originally Posted by nathanm4

My car got rear ended twice within 10 months. I feel ya.

Ugh. What was the final result?

nathanm4 · 03-10-2020, 06:43 PM

Quote:

Originally Posted by jessetaylor1

Quote:

Originally Posted by nathanm4

My car got rear ended twice within 10 months. I feel ya.

Ugh. What was the final result?

I brought my car to a BMW dealership for repair and I'm happy with the repair. New bumper and new paint. I didn't pay anything but it still sucks to get hit by a careless driver because:

1. It will be on your record as long as you own the car.
2. The car depreciated like crazy ($7,000 less than a normal car). Geico only paid me $1800 for diminished value claim. My advice is get at least $5,000 if you own an M car. I learned my lesson.
3. You have to use rental car and spend a lot of time and energy in the process.
4. Insurance may still go up. Progressive quoted me $500 more to get the same car insured even though the accident was not my fault. I have dash cam videos to prove it. But sometimes insurance company steer you away by increasing the premium.
5. Potential new damages during the repair. For both accidents, I asked repair shop to fix their mess again and again because they damaged paint. It's a headache. My advice is never ever accept damages and mediocre repair job. Sometimes the shop will try to convince you to accept botch job. So ask them repair again and again until they fix their mess.

I hope this helps

GiacomoH · 03-11-2020, 09:12 AM

1) Get a DV appraisal
2) Sue the other driver

I am surprised to see people reaching DV settlements directly with the insurance company. I've had no such luck in the past in doing that. Insurance companies are scum.

jessetaylor1 · 03-11-2020, 12:45 PM

Quote:

Originally Posted by GiacomoH

1) Get a DV appraisal
2) Sue the other driver

I am surprised to see people reaching DV settlements directly with the insurance company. I've had no such luck in the past in doing that. Insurance companies are scum.

Was on the phone with GEICO the other day seeing if there were any updates (none yet of course) and the lady was saying, "well the car was fixed so I have no idea why the dealership was offering you less money on the value of your car, they shouldn't have done that". I laughed and responded with common sense.

hz101 · 03-11-2020, 07:35 PM

Quote:

Originally Posted by jessetaylor1

Was on the phone with GEICO the other day seeing if there were any updates (none yet of course) and the lady was saying, "well the car was fixed so I have no idea why the dealership was offering you less money on the value of your car, they shouldn't have done that". I laughed and responded with common sense.

They will try not to pay you any way they can. That's their job. But if your state law mandates them to pay for DV then keep pushing.

jessetaylor1 · 04-29-2020, 12:25 PM

GEICO is offering me $4,450 in diminished value. I'm gonna take it.

GiacomoH · 04-30-2020, 09:02 AM

Quote:

Originally Posted by jessetaylor1

GEICO is offering me $4,450 in diminished value. I'm gonna take it.

GoneIn4Secs · 04-30-2020, 01:35 PM

Quote:

Originally Posted by DanG

Those wheels would definitely bother me. I would get them repaired or replaced.

You dont need to replace them for small lil rash like that!

Just get them fixed by repair shop, easy fix

02-26-2020, 12:18 PM	#27
LuvMyE92 Occasionally frequent poster 3000 Rep 2,744 Posts Drives: CT5V-Blackwing Join Date: Jan 2008 Location: RTP NC, USA iTrader: (0)	Oh, and before I forget, remember my two pet peeves: - insurance laws vary between states - never believe/trust/follow any information you get on an Internet forum __________________ Current inventory: F22 & G05 Cadillac CT5-V Blackwing w/3 pedals Past: E24,E28(3),E34,E36,E37,E38(2),E39(4),E46,E89,E92 (obviously),F01,F06,F10,F30,F87,G12,G30(2),G82(2)
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03-02-2020, 07:18 PM	#29
amancuso Lieutenant Colonel 724 Rep 1,755 Posts Drives: 330it, 428ix, 430i Join Date: Oct 2008 Location: Lawrenceville, GA iTrader: (1)	That sucks. I got a big door ding in mine and thought it wouldn't be able to come out. Luckily PDR got it out. Just last week I was driving and out of nowhere a stone hit the roof and left two small stone chips in the paint on the roof. I guess thats what touch up is for. __________________ 2016 428ix, r, 2018 430iC, 2018 330it
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03-02-2020, 08:08 PM	#30
jessetaylor1 Second Lieutenant 171 Rep 294 Posts Drives: 2018 AW LCI Join Date: Nov 2017 Location: USA iTrader: (0)	Still waiting to hear back from GEICO. Talked to them Wednesday of last week and they said they'd reach back out in 24 hours. Nothing. Called again today and said it'll be within 48 hours. I hate insurance companies.
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03-04-2020, 08:52 AM	#31
buckybadger BMW forever! 1380 Rep 2,417 Posts Drives: BMW Join Date: Jan 2009 Location: San Diego, CA iTrader: (0)	I got rear ended at 5 mph by an idiot... it happens but it's just a car. __________________ 2020 BMW X5 2019 BMW M2C 2014 BMW 335i 2009 BMW 328i
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03-10-2020, 04:16 PM	#32
hz101 First Lieutenant 171 Rep 324 Posts Drives: 2021 M3C Join Date: Feb 2017 Location: Baltimore, MD iTrader: (1)	I got hit by a lady who ran a stop sign back in January. Total damage was about 14k. There is also a little bit of structural damage involved, which seems to lower the resale value by a lot. I am filing a diminished value claim against Progressive which is known for underpaying claims. But thankfully in MD you can take the at fault party to court for diminished value.
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03-10-2020, 06:12 PM	#35
nathanm4 Captain 682 Rep 738 Posts Drives: Aston Martin Vantage Join Date: Jun 2015 Location: Salt Lake City, UT iTrader: (0)	My car got rear ended twice within 10 months. I feel ya. __________________
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03-11-2020, 09:12 AM	#38
GiacomoH New Member 13 Rep 23 Posts Drives: BMW M2 Join Date: Nov 2019 Location: USA iTrader: (0)	1) Get a DV appraisal 2) Sue the other driver I am surprised to see people reaching DV settlements directly with the insurance company. I've had no such luck in the past in doing that. Insurance companies are scum.
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04-29-2020, 12:25 PM	#41
jessetaylor1 Second Lieutenant 171 Rep 294 Posts Drives: 2018 AW LCI Join Date: Nov 2017 Location: USA iTrader: (0)	GEICO is offering me $4,450 in diminished value. I'm gonna take it.
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