Insurance Super Low Balling Me for Totaled Car.

[scand1]

Lets say the value is $15K
Repairs are 8K

Have them fix it. Stand firm on that. There is no reason to total it if this is the situation.

Now, if you feel the car is worth over $15K, why would you not have had full coverage on it? There seems to be something out of whack with this. Okay, probably no requirement to have full coverage, just curious why you wouldn't carry a stated value policy to protect yourself.

Dan

i didnt have full coverage because of some confusion when setting up my insurance policy with my insurance agent. i have two old bmw's ones definitely a beater, probably not worth more than 4,000, and the one that was hit is a nice, rare, much more valuable car. the insurance agent obviously didnt know what the m3 was, and just assumed that because its an 80's car, its not worth anything so didnt put me on full coverage. i trusted the agent to set everything up for me and i shouldnt have.

while that was a big mistake on my part, i dont see why it should change the fact that they are legally obligated to reimburse me for my damages.

 

[GeminiGroup]

Dude are you HEARING yourself?

"i didnt have full coverage because of some confusion"
It only became confusing AFTER the fact?

" i have two old bmw's......ones definitely a beater.......and the
one....a nice, rare, much more valuable car"
So you clearly understood there was a MAJOR difference between the 2 cars was there a major difference in cost of protect them of did you just 'wink, wink' let it ride?

You say that "the insurance agent obviously didnt know"
Obvious to YOU as well based upon what you were paying, right?

"didnt put me on full coverage. i trusted the agent to set everything up for me and i shouldnt have. ".......Bro, REALLY.....you didn't figure out there was an obvious short coming in your desire coverage RIGHT AWAY?

It was 'obviously' not full coverage (or stated) even a NOVICE would know the difference between the cost of insuring a 'beater' and a 'nice, rare, more valuable car' OR a guy could just continue to pay on the cheap and pray...which it seems you did, my man.

We as GROWN ups have 'some' responsibility to SPEAK UP...when what we actually want obviously isn't what is being offered.

If you go to a restaurant and they bring you a hamburger when want lobster but you eat the burger instead....well you ate a burger, bro...wasn't it obvious IF you actually want seafood you should say SOMETHING?
Maybe along the lines of "hey that's a hamburger, I want a lobster"

Just like when an agent produces a policy with a premium that CLEARLY covers 'hamburger' (like your 'beater') vs a 'lobster'...you have some responsibility to say " I wanted the lobster" vs continuing to pay for hamburger knowing damn well hamburger PRICES don't buy lobster policies.

"while that was a big mistake on my part"
Ok, that sounds reasonable until
"i dont see why it should change the fact"
Read that part AGAIN...like a reasonable 'thinking' MAN not an emotional child or woman

Add this up
1) My 'big' mistake (your words)
+
2) " i dont see why it should change the fact
+
3) "they are legally obligated to reimburse me for my damages."
= Delusional man or an ex-wife

To restate in man talk...
I made a BIG mistake in not making sure I had X,Y,Z coverage, the obviously correct one, but I have NO IDEA why my ABC coverage (the one I was paying for) doesn't cover me like an X,Y, Z policy....

In the heads of too many Americans...doesn't matter, they still should be LEGALLY 'obligated' to pay me as if I had an XYZ policy even though I didn't pay for nor ever own such a policy...REALLY!!!

I'd 'love' to live in the fantasy world that so many folks seem to reside in....

Have ever ordered in the drive-thru and you KNEW the total the girl gave you couldn't be right for ALL that you knew or thought you ordered...of course that's why you say repeat my order back or at least CHECK the bag to make SURE you got what you WANTED.

The problem you have, my friend is you clearly knew you weren't PAYING for Cadillac coverage and said nothing, one can only assume that's exactly what you wanted......

Had you said it happened within a day or two I 'get' it but you're not stupid you KNEW you a had a 'beater' policy price and that's what the i/c should be legally obligated to, period.

It's called 'live and learn' you gambled and lost no biggie...go home play 'better' next time.

 

[FullAuto]

dude are you hearing yourself?

"i didnt have full coverage because of some confusion"
it only became confusing after the fact?

" i have two old bmw's......ones definitely a beater.......and the
one....a nice, rare, much more valuable car"
so you clearly understood there was a major difference between the 2 cars was there a major difference in cost of protect them of did you just 'wink, wink' let it ride?

You say that "the insurance agent obviously didnt know"
obvious to you as well based upon what you were paying, right?

"didnt put me on full coverage. I trusted the agent to set everything up for me and i shouldnt have. ".......bro, really.....you didn't figure out there was an obvious short coming in your desire coverage right away?

It was 'obviously' not full coverage (or stated) even a novice would know the difference between the cost of insuring a 'beater' and a 'nice, rare, more valuable car' or a guy could just continue to pay on the cheap and pray...which it seems you did, my man.

We as grown ups have 'some' responsibility to speak up...when what we actually want obviously isn't what is being offered.

If you go to a restaurant and they bring you a hamburger when want lobster but you eat the burger instead....well you ate a burger, bro...wasn't it obvious if you actually want seafood you should say something?
Maybe along the lines of "hey that's a hamburger, i want a lobster"

just like when an agent produces a policy with a premium that clearly covers 'hamburger' (like your 'beater') vs a 'lobster'...you have some responsibility to say " i wanted the lobster" vs continuing to pay for hamburger knowing damn well hamburger prices don't buy lobster policies.

"while that was a big mistake on my part"
ok, that sounds reasonable until
"i dont see why it should change the fact"
read that part again...like a reasonable 'thinking' man not an emotional child or woman

add this up
1) my 'big' mistake (your words)
+
2) " i dont see why it should change the fact
+
3) "they are legally obligated to reimburse me for my damages."
= delusional man or an ex-wife

to restate in man talk...
I made a big mistake in not making sure i had x,y,z coverage, the obviously correct one, but i have no idea why my abc coverage (the one i was paying for) doesn't cover me like an x,y, z policy....

In the heads of too many americans...doesn't matter, they still should be legally 'obligated' to pay me as if i had an xyz policy even though i didn't pay for nor ever own such a policy...really!!!

I'd 'love' to live in the fantasy world that so many folks seem to reside in....

Have ever ordered in the drive-thru and you knew the total the girl gave you couldn't be right for all that you knew or thought you ordered...of course that's why you say repeat my order back or at least check the bag to make sure you got what you wanted.

The problem you have, my friend is you clearly knew you weren't paying for cadillac coverage and said nothing, one can only assume that's exactly what you wanted......

Had you said it happened within a day or two i 'get' it but you're not stupid you knew you a had a 'beater' policy price and that's what the i/c should be legally obligated to, period.

It's called 'live and learn' you gambled and lost no biggie...go home play 'better' next time.

^^^^^^^^^^^^^^^^^^^^^ +1 :d

 

[blue_wynd]

^^^^^^^^^^^^^^^^^^^^^ +1 :d

I +1/liked too. Initially I wanted to say something on the post Gemini broke down. Figured it wasn't worth my time.

 

[xrac]

Dude are you HEARING yourself?

"i didnt have full coverage because of some confusion"
It only became confusing AFTER the fact?

" i have two old bmw's......ones definitely a beater.......and the
one....a nice, rare, much more valuable car"
So you clearly understood there was a MAJOR difference between the 2 cars was there a major difference in cost of protect them of did you just 'wink, wink' let it ride?

You say that "the insurance agent obviously didnt know"
Obvious to YOU as well based upon what you were paying, right?

"didnt put me on full coverage. i trusted the agent to set everything up for me and i shouldnt have. ".......Bro, REALLY.....you didn't figure out there was an obvious short coming in your desire coverage RIGHT AWAY?

It was 'obviously' not full coverage (or stated) even a NOVICE would know the difference between the cost of insuring a 'beater' and a 'nice, rare, more valuable car' OR a guy could just continue to pay on the cheap and pray...which it seems you did, my man.

We as GROWN ups have 'some' responsibility to SPEAK UP...when what we actually want obviously isn't what is being offered.

If you go to a restaurant and they bring you a hamburger when want lobster but you eat the burger instead....well you ate a burger, bro...wasn't it obvious IF you actually want seafood you should say SOMETHING?
Maybe along the lines of "hey that's a hamburger, I want a lobster"

Just like when an agent produces a policy with a premium that CLEARLY covers 'hamburger' (like your 'beater') vs a 'lobster'...you have some responsibility to say " I wanted the lobster" vs continuing to pay for hamburger knowing damn well hamburger PRICES don't buy lobster policies.

"while that was a big mistake on my part"
Ok, that sounds reasonable until
"i dont see why it should change the fact"
Read that part AGAIN...like a reasonable 'thinking' MAN not an emotional child or woman

Add this up
1) My 'big' mistake (your words)
+
2) " i dont see why it should change the fact
+
3) "they are legally obligated to reimburse me for my damages."
= Delusional man or an ex-wife

To restate in man talk...
I made a BIG mistake in not making sure I had X,Y,Z coverage, the obviously correct one, but I have NO IDEA why my ABC coverage (the one I was paying for) doesn't cover me like an X,Y, Z policy....

In the heads of too many Americans...doesn't matter, they still should be LEGALLY 'obligated' to pay me as if I had an XYZ policy even though I didn't pay for nor ever own such a policy...REALLY!!!

I'd 'love' to live in the fantasy world that so many folks seem to reside in....

Have ever ordered in the drive-thru and you KNEW the total the girl gave you couldn't be right for ALL that you knew or thought you ordered...of course that's why you say repeat my order back or at least CHECK the bag to make SURE you got what you WANTED.

The problem you have, my friend is you clearly knew you weren't PAYING for Cadillac coverage and said nothing, one can only assume that's exactly what you wanted......

Had you said it happened within a day or two I 'get' it but you're not stupid you KNEW you a had a 'beater' policy price and that's what the i/c should be legally obligated to, period.

It's called 'live and learn' you gambled and lost no biggie...go home play 'better' next time.

Gemni hits the nail on the head. Your best bet is let them repair the car and then have it appraised by your insurance company and add full coverage. I don't think you will win in small claims court.

 

[djs]

Not just full coverage, stated value.
Full coverage will NOT replace this car at the value you are claiming for it.

This is why you are fighting the claim, they are adjusting it for 'full coverage', which isn't a correct term and is meaningless to an insurance agent, but is generally thought to include comp and collision coverage.

And yes, they do have an obligation to repair or replace your car. Replace is usually considered actual cash value (depreciated amount) and in the case of collectors cars, may not reflect the actual market value of the car. This is why a stated value policy is necessary.

Dan

 

[scand1]

Dude are you HEARING yourself?

"i didnt have full coverage because of some confusion"
It only became confusing AFTER the fact?

" i have two old bmw's......ones definitely a beater.......and the
one....a nice, rare, much more valuable car"
So you clearly understood there was a MAJOR difference between the 2 cars was there a major difference in cost of protect them of did you just 'wink, wink' let it ride?

You say that "the insurance agent obviously didnt know"
Obvious to YOU as well based upon what you were paying, right?

"didnt put me on full coverage. i trusted the agent to set everything up for me and i shouldnt have. ".......Bro, REALLY.....you didn't figure out there was an obvious short coming in your desire coverage RIGHT AWAY?

It was 'obviously' not full coverage (or stated) even a NOVICE would know the difference between the cost of insuring a 'beater' and a 'nice, rare, more valuable car' OR a guy could just continue to pay on the cheap and pray...which it seems you did, my man.

We as GROWN ups have 'some' responsibility to SPEAK UP...when what we actually want obviously isn't what is being offered.

If you go to a restaurant and they bring you a hamburger when want lobster but you eat the burger instead....well you ate a burger, bro...wasn't it obvious IF you actually want seafood you should say SOMETHING?
Maybe along the lines of "hey that's a hamburger, I want a lobster"

Just like when an agent produces a policy with a premium that CLEARLY covers 'hamburger' (like your 'beater') vs a 'lobster'...you have some responsibility to say " I wanted the lobster" vs continuing to pay for hamburger knowing damn well hamburger PRICES don't buy lobster policies.

"while that was a big mistake on my part"
Ok, that sounds reasonable until
"i dont see why it should change the fact"
Read that part AGAIN...like a reasonable 'thinking' MAN not an emotional child or woman

Add this up
1) My 'big' mistake (your words)
+
2) " i dont see why it should change the fact
+
3) "they are legally obligated to reimburse me for my damages."
= Delusional man or an ex-wife

To restate in man talk...
I made a BIG mistake in not making sure I had X,Y,Z coverage, the obviously correct one, but I have NO IDEA why my ABC coverage (the one I was paying for) doesn't cover me like an X,Y, Z policy....

In the heads of too many Americans...doesn't matter, they still should be LEGALLY 'obligated' to pay me as if I had an XYZ policy even though I didn't pay for nor ever own such a policy...REALLY!!!

I'd 'love' to live in the fantasy world that so many folks seem to reside in....

Have ever ordered in the drive-thru and you KNEW the total the girl gave you couldn't be right for ALL that you knew or thought you ordered...of course that's why you say repeat my order back or at least CHECK the bag to make SURE you got what you WANTED.

The problem you have, my friend is you clearly knew you weren't PAYING for Cadillac coverage and said nothing, one can only assume that's exactly what you wanted......

Had you said it happened within a day or two I 'get' it but you're not stupid you KNEW you a had a 'beater' policy price and that's what the i/c should be legally obligated to, period.

It's called 'live and learn' you gambled and lost no biggie...go home play 'better' next time.

I didnt know the pricing on one was cheaper than the other, i have both cars still insured under my parents insurance, and i just pay them the total cost for both.

as for the rest of your post, i get your point, i screwed up and you think im an ***. thats fantastic, but im not coming here to be taught a lesson, going through this whole process has done that for me. and if i get out of this whole thing having to take the horrible offer, then fine, i realize this is a situation i could have avoided.

in the end, i was hit, while stopped, by someone who was totally at fault, and im being screwed because of it. i dont care how poorly i set up my own insurance, its still the other drivers insurance who is responsible for paying my damages, and thats not happening.

I'm just looking for advice on how i should go about this.

 

[VolAgent]

Dude are you HEARING yourself?

"i didnt have full coverage because of some confusion"
It only became confusing AFTER the fact?

" i have two old bmw's......ones definitely a beater.......and the
one....a nice, rare, much more valuable car"
So you clearly understood there was a MAJOR difference between the 2 cars was there a major difference in cost of protect them of did you just 'wink, wink' let it ride?

You say that "the insurance agent obviously didnt know"
Obvious to YOU as well based upon what you were paying, right?

"didnt put me on full coverage. i trusted the agent to set everything up for me and i shouldnt have. ".......Bro, REALLY.....you didn't figure out there was an obvious short coming in your desire coverage RIGHT AWAY?

It was 'obviously' not full coverage (or stated) even a NOVICE would know the difference between the cost of insuring a 'beater' and a 'nice, rare, more valuable car' OR a guy could just continue to pay on the cheap and pray...which it seems you did, my man.

We as GROWN ups have 'some' responsibility to SPEAK UP...when what we actually want obviously isn't what is being offered.

If you go to a restaurant and they bring you a hamburger when want lobster but you eat the burger instead....well you ate a burger, bro...wasn't it obvious IF you actually want seafood you should say SOMETHING?
Maybe along the lines of "hey that's a hamburger, I want a lobster"

Just like when an agent produces a policy with a premium that CLEARLY covers 'hamburger' (like your 'beater') vs a 'lobster'...you have some responsibility to say " I wanted the lobster" vs continuing to pay for hamburger knowing damn well hamburger PRICES don't buy lobster policies.

"while that was a big mistake on my part"
Ok, that sounds reasonable until
"i dont see why it should change the fact"
Read that part AGAIN...like a reasonable 'thinking' MAN not an emotional child or woman

Add this up
1) My 'big' mistake (your words)
+
2) " i dont see why it should change the fact
+
3) "they are legally obligated to reimburse me for my damages."
= Delusional man or an ex-wife

To restate in man talk...
I made a BIG mistake in not making sure I had X,Y,Z coverage, the obviously correct one, but I have NO IDEA why my ABC coverage (the one I was paying for) doesn't cover me like an X,Y, Z policy....

In the heads of too many Americans...doesn't matter, they still should be LEGALLY 'obligated' to pay me as if I had an XYZ policy even though I didn't pay for nor ever own such a policy...REALLY!!!

I'd 'love' to live in the fantasy world that so many folks seem to reside in....

Have ever ordered in the drive-thru and you KNEW the total the girl gave you couldn't be right for ALL that you knew or thought you ordered...of course that's why you say repeat my order back or at least CHECK the bag to make SURE you got what you WANTED.

The problem you have, my friend is you clearly knew you weren't PAYING for Cadillac coverage and said nothing, one can only assume that's exactly what you wanted......

Had you said it happened within a day or two I 'get' it but you're not stupid you KNEW you a had a 'beater' policy price and that's what the i/c should be legally obligated to, period.

It's called 'live and learn' you gambled and lost no biggie...go home play 'better' next time.

Something tells me there are numerous E&O claims that show you are so far off base you don't even know it. Shame on an agent that hears "full coverage" and doesn't clarify. Most people are only going to ever look at the insurance card. Unless it indicates the coverage on there, they don't have a clue what they have.

Now, there is a world of difference between comp and collision and stated value, at least in my opinion. So this guy may or may not be able to go after the agent's E&O on this.

 

[Milkman1265]

A little off topic, since I have a similar hobby as OP, After you finish your claims and adjusting etc... your m3 can be bought on a classic car insurance for less than a liability only coverage....

try grundy or hagerty....


also are you claiming the m3 is worth 20k? i didn't really see which car you were talking about. If you participated in events and have a presence in clubs where people have pictures of your car and what was in it.

I've seen some classic car owners get a higher apprasil value, but it requires you to do a ton of work and submit a ton of info.

 

[djs]

A little off topic, since I have a similar hobby as OP, After you finish your claims and adjusting etc... your m3 can be bought on a classic car insurance for less than a liability only coverage....

try grundy or hagerty....

Classic car policies are awesome, but..... just watch the exclusions in them. These usually do not cover a car that you drive regularly. I have no idea how the OP's car was used, just know I've sold enough classic car policies to understand that few people read the actual policy and what it is designed for.

In essence, if your car is primarily used in parades and car shows and is normally towed to get there, these very inexpensive classic car policies work well. If you drive over 4000 miles a year, they fall apart (actual mileage may vary).

Dan