2015 M3 Totalled :( - Any Advice?

[RonnyK]

Hi gang,

It's been a long while since my last post and I've loved every minute of owning my 2015 European-delivery Austin Yellow M3. I was hit in the rear last week and while I initially didn't think the damage was all that bad, the back of the car was crumpled forward on the passenger side, and I just learned now that USAA is declaring the car a total loss. My 6-Speed Manual M3 was in nearly immaculate condition, 44K miles, along with some options: LED, Executive Package, Parking Cameras, 19" alloys, carbon fiber spoiler.

I've never been through this process before, so besides looking for emotional support, I would love to hear some advice about what others may have gone through. In particular, what can I expect from USAA (my insurer) in terms of valuing the car? Is looking for comparable used vehicles an accurate indicator of ballpark?

Thanks!

[2011ninja]

Originally Posted by RonnyK

Hi gang,

It's been a long while since my last post and I've loved every minute of owning my 2015 European-delivery Austin Yellow M3. I was hit in the rear last week and while I initially didn't think the damage was all that bad, the back of the car was crumpled forward on the passenger side, and I just learned now that USAA is declaring the car a total loss. My 6-Speed Manual M3 was in nearly immaculate condition, 44K miles, along with some options: LED, Executive Package, Parking Cameras, 19" alloys, carbon fiber spoiler.

I've never been through this process before, so besides looking for emotional support, I would love to hear some advice about what others may have gone through. In particular, what can I expect from USAA (my insurer) in terms of valuing the car? Is looking for comparable used vehicles an accurate indicator of ballpark?

Thanks!

Originally Posted by RonnyK

Hi gang,

It's been a long while since my last post and I've loved every minute of owning my 2015 European-delivery Austin Yellow M3. I was hit in the rear last week and while I initially didn't think the damage was all that bad, the back of the car was crumpled forward on the passenger side, and I just learned now that USAA is declaring the car a total loss. My 6-Speed Manual M3 was in nearly immaculate condition, 44K miles, along with some options: LED, Executive Package, Parking Cameras, 19" alloys, carbon fiber spoiler.

I've never been through this process before, so besides looking for emotional support, I would love to hear some advice about what others may have gone through. In particular, what can I expect from USAA (my insurer) in terms of valuing the car? Is looking for comparable used vehicles an accurate indicator of ballpark?

Thanks!

Sorry for your loss

Try and negotiate the offer

I was a claims examiner many years ago

Most adjusters are reasonable

Check the retail value of cars within 100 miles

[nicknaz]

Sorry for your loss and glad you are ok.

Definitely look for comps (my suggestion would be to focus on BMW CPO cars to proxy the great condition of your car).

[elinstylez]

Hopefully you get paid out enough to jump into a newer m3 with zcp with the options you want.

[Poiseuille]

The responsibility for your loss lies with whoever hit you in the back. That person's responsibility is to have insured himself against whatever damage his inability to drive may cause. It is the responsibility of that driver, along with his insurance company, to replace your car. By "replace your car" I mean replace it with EXACTLY what you had. This would be in the form of a check to cover, completely, getting that done. Please laugh at any suggestion that you should be satisfied with anything less than the FULL RETAIL VALUE of what you lost.
Now, if you had oversteered your car into a tree then you would be entitled receive, from YOUR insurance company, either the wholesale value of your car if it was totaled OR the cost of repairs (less deductible) if it wasn't totaled.
But that's not what happened in your case. You suffered a loss as a result of another person's negligence (that's how it is in New Jersey at any rate).
DO NOT sign anything or accept any kind of payment UNLESS you have 1) been made financially whole by said payment or 2) consulted an attorney.
Be assured that USAA is NOT the arbiter of this outcome, and would be if and only if you were at fault in the accident.
good luck.

Edit: btw, have you consulted a physician regarding your neck that hurts you?

[SakhirM4]

Why is the person that hit you not taking care of this?

[Poiseuille]

I'm afraid I should also add, as someone who has been insured by USAA for a very long time, that it would be unwise to assume that USAA will automatically act in your best interest at the expense of their own.

[SakhirM4]

Originally Posted by Poiseuille

I'm afraid I should also add, as someone who has been insured by USSA for a very long time, that it would be unwise to assume that USSA will automatically act in your best interest at the expense of their own.

I have had USAA for over 50 years and have never had that feeling about them.

[behindthen0thing]

I've heard nothing but good things from USAA

[Poiseuille]

Originally Posted by SakhirM4

I have had USAA for over 50 years and have never had that feeling about them.

fair enough.
I'll PM you about that if you want.

[uniqueMR]

Sorry for loss

[icegrill]

Get shopping!

[ano0oj]

I dealt with USAA when someone rear ended me about 2 months back -- good company and their communication was frequent. Only hiccup was one of the supplements took about a week to approve and the adjuster I was dealing with was KIND of an A-hole during the initial assessment, but since yours is a total loss I don't see any issues.

They will likely cut you a check for the remainder of your loan amount(if any) or KBB value.

[Nadeemp8]

I was in your EXACT same shoes 1 month ago, found out my 2015 AY 6spd M3 was being totalled, difference was it was my fault.

At the end, my insurance co (Safeco) gave me an extremely fair settlement and I didn't push back at all as I don't think I could have sold it private party for that on my best day. I looked at other options, but landed on a 2016 M3 that was local to me and decided to switch it up to a DCT.

I'm extremely happy with how everything turned out and couldn't have asked for more. Hope you end up in the same shoes I did!

[RonnyK]

So, I feel that USAA treated me mostly fair on the valuation. I also had the 20% supplement replacement coverage so the valuation + 20% is very decent.

For those questioning/commenting on the occurrence, the driver of the other vehicle is disputing fault because I had to quickly merge into her lane when a car on my left turned into me trying to get over to an approaching highway exit. The car I merged in front of was able to go around me (I was going slower than traffic at this point having braked and then quickly moved over), and the car behind that car is who hit me. My insurer feels I was "established" in the lane at the time I was hit and this isn't my fault, but for now it is contested and that means my deductible is my responsibility for now.

On the plus side, I had my inexpensive winter tire rims on the car at the time which means I have a set of BMW 19" wheels and 90% new summers that I can sell

On to shopping. . . . Thanks for the input and support everyone.

[Kev608]

Originally Posted by RonnyK

I also had the 20% supplement replacement coverage so the valuation + 20% is very decent.

I have never heard of this. How does it work?

[RonnyK]

USAA offers for an additional premium (not large in my opinion) protection that for the first two years of ownership of a new car, if the car is totaled you will get full replacement value. After two years, this converts to a "bonus" of 20% over ACV. Because my state requires totaled vehicles include document fees and sales tax, the 20% in my case was computed on top of those numbers:

(ACV + doc fees + 6% sales tax) x 1.20 = Total that I received.

[Spun Crankhub]

First be glad you are okay, and that today is a beautiful new day. Then show the adjuster/appraiser comps of other vehicles in your geographic area, and make sure he/she hooks you up with a solid number.

[doug_999]

Originally Posted by Poiseuille

Edit: btw, have you consulted a physician regarding your neck that hurts you?

See above next time someone bitches about insurance costing so much.

And

See above for why other countries just shake their head at us Americans. We embarrass ourselves with our greed.

[CarbonAlpine]

In miami I pay some if the highest rates for auto insurance. Goes up every renewal. Mostly because of all the fake claims, people going to these clinics to get quick money even if they were involved in a parked car bump.

I keep paying it and look the other way, but damn sometimes it gets to me. Anyways back on topic, even though I didn't see anywhere in this thread what your valuation was (maybe I skimmed), good luck in tour next car. Hopefully usaa won't raise your rates

[mike@x-ph.com]

Sorry for the loss, glad no one is hurt

[RonnyK]

Thanks everyone for the nice thoughts and wise words.