Accident with "new" CPO X5
 

I was "t-boned" last night by a 1980 Lincoln Continental that ran a red light. Fortunately, I was not seriously injured. I have a bit of soreness, but hopefully that will go away. I haven't been through a serious claim with such a valuable asset. For reference, it is a 2007 CPO X5 that I bought 3 weeks ago with a significant down payment and then financing for the rest. So, I have a couple of questions.

1. From the pictures, do you think it will be "totaled"? The tow truck guy thought the front axle was broken.

2. My insurance company gave me two options, 1. Go through them to start the claim process, pay my deductible and get my rental car, etc. 2. Wait until the third party carrier determines liability and then deal directly with them. I assume #2 is best given that they are the insurance company for the tort-feasor. But any insight would be appreciated.

3. What type of rental car can I expect? I really don't want to drive a GEO storm for the next couple of months.

4. How does the accident affect the warranty and CPO status (there is still 6 months left on the original warranty).

5. If they repair, can I demand OEM parts based on the fact that it is still under warranty, etc.?


Anything else I should consider?
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Sorry about your accident, and glad you are ok. I really understand what you are going through right now, as I found out yesterday an accident I had this past Saturday, my X5 is being totaled, and at the moment I am waiting on the adjuster for a dollar value. I had 2500 miles on my X5. There is a lengthy discussion on my issues, in a thread called "do you think its totaled? You may be able to pick up a few ideas there. Also have a similar thread in bimmerfest under the x5 thread.

In your case, if you able, I would wait until the other party files his/her claim. It may save you your deductible.

I would start doing my research, on what prices your vehicle is going for...eg: similar miles, options, year, etc., so you know the dollar value that you will have to shoot for to be made whole, whether it is totaled or repaired. Edmunds, Auto Trader,are good sources.

As far as totaling, I can't really see if your unibody is damaged. That is a real key, as well as the suspension, and if there is any engine damage, or the structure that holds the engine and components in place.

I guess every company is different, but for my state, it requires that at least 75% of the value of vehicle for it to be declared a total loss. That is why you really need some data to support your side, if there is a dispute.

I am a real novice at this, as it was my first experience with something like this, and I will tell you, there are some really sharp, and helpful people on this board, and also over at the X5 thread on bimmerfest.

It is hard to be patient at this time (speaking from experience), but unfortunately, it will take some time. (hopefully not too much though)

As I found out in my case, the driver at fault who hit me.....had insurance, but it will take more than what he was insured with, so my policy kicks in with the uninsured/underinsured component.

Like I said, I am a novice....but am learning fast, and again you will get some great advice here.

Good luck.

First of all there was nobody hurt which is most important.

1) Too hard to tell if totaled-- a lot of variables go into that.
2) Yes go through the other insurance company.
3) This can depend---you get whatever rental car size the other company offers but some companies will put you in a car of equal size (SUV=SUV).
4) Not sure.
5) Yes always demand OEM parts.

If they deem it repairable, file what's called a Diminished Value claim. The other insurance company should offer it-- if not yours can maybe submit it, pay you and they go after the other insurance to get re-imbursed. Google Diminished Value and how it works--it's easier than me explaining ha.

Sorry to hear.

Valuable info in both of twsas's threads... some not applicable to your situation, since his was new and yours is used.

My comments:

1. HOPE it is totaled. It looks like the A and B pillars are tweaked, as is the front drive components. twsas had a new car (with a higher value) and it was totaled- yours will cost the same to repair so it will likey be totaled.

2. DO NOT WAIT for the other party to file claims. YOU drive the issue. Call their insurance, file the claim. TAKE METICULOUS NOTES. Date, time, names. Do not underestimate the value of this. In the event of any issues, your ability to whip out a letter saying "I spoke to X on Y and they said Z" will put them on notice that they cannot afford to not pay careful attention.

3. Your big problem will be coming up with a value for your loss. I would find every CPO car in the USA which matches your car (model, options) and print out that page. TODAY. You can then make adjustments based on mileage. They will try to use an independent company and WILL lowball the process- your argument must be that ONLY a comparison to "CPO'd" cars is valid. Any data they provide for a "non-CPO" is not acceptable. Be prepared for a fight.

4. Rent a full sized 4 door. It doesn't matter what your policy 'covers' or their policy 'covers'. Be aware that once they present an offer to settle a total- not an acceptable offer, but any offer- they stop paying for the car (IIRC)

5. Understand the relationship between you, the other driver, and the insurance companies: The other driver hit you and is at fault. The are LIABLE for your LOSSES. Importantly YOUR losses are not defined by HIS policy. Think about this: his coverage, or their internal procedures or what they allow or how they do things- all of these are of no concern to you. At the end of the day, the other driver OWES you for what he did- the other driver entered a contract with a third party insurance company who has agreed to cover his liability in the event he causes an accident. If the other insurance doesn't want to pay, fine- you'll sue the driver. (Note: Nobody wants to sue- it is a PITA, and can be expensive. Luckily there is small claims which would likely cover the difference between what they cover and what you are out of pocket- but just understanding the distinction and being comfortable with the terminology and carrying yourself appropriately with the adjuster will get you miles ahead.)

6. Your insurance sounds like dciks. The should not be demanding the deductible up front. The could also be acting on your behalf with this- what I see is generally all insurers- both the at fault party's and the other- acting in the best interests of BOTH companies: they want this done quick, they want ot done cheap, they know one day they pay, one day the other pays- they have no incentive to go to bat for you. Case in point is car rental: they could say "Rent what you need, no luxury but 4 door is fine- we'll make the other side cover it". Isn't that a fantasy?

7. (edit) Finally do not ask them 'what do I do next?'...neither of them. The are not there to help you. If telegraph your uncertainty to them they will exploit this- it will make them much less likely to concede to your demands... this is hard to do, you are starting now. :)


Good Luck

Keep us posted

A

Why would you guys go through the other insurance company? You pay your insurance company to fight for your rights. Why should you have to expend the time and effort with the process? If the other party is at fault, they can get your deductible back.

Glad no one was hurt.

See my post above. YOUR insurance does not "fight for your rights" in many cases. If they do, great- but most of them treat every claim the same, irrespective of whether or not is is subrogated ....

If he just accepts his insurance to handle the claim he will wind up loosing money on this claim- his substantial down payment will be gone and he'd be lucky for the settlement to cover what he owes.

But I'm just a cynic. I wish I could be sunny.:thumbup:

:D

A

Quick update:

I spoke with my adjuster who stated that the other adjuster indicated that the insurance limits may be quite small. So there may be some underinsured issues coming down the pike. I wonder if underinsured coverage will pay for diminished value?

Ok then if they are underinsured then your insurance needs to take care of the claim and then they will subrogate against them. So, whether they total it or deem it fixable go through your insurance either way (and if they fix it then yes file a DV claim with your insurance as well). I had the same exact thing happen to me on my X5--hit by someone who was underinsured, went through my insurance Allstate on getting it fixed and got a DV check for $6K (my repairs were about $20K--a sizeable amount).

Agreed.

Lets hope it is totaled. Who is doing the estimate? I would not allow either insurer to be the only ones to do it (although you cannot stop them from doing their own assessment.)

I'd go to the nearests BMW certified body shop and have them do an estimate. The BMW shop will be much more familiar with "proper" repair methods. It is better to have the insurance argue with a shop that knows what manufacturer specs require. You can tell them that you'd prefer a total...

Your diminished value claim is against the other guy- no matter who pays it (his insurance or your back up) it is his liablity. I am a bit uncertain if your policy excludes DV from the underinsured policy- you should check.

First things first- get it totaled.

A

Another update:

The tortfeasor's had minimum limits, including $10,000 in property damage coverage. His insurer stated that because of these limits, my insurer should take the lead as they will undoubtedly pay the bulk of the claim.

As I don't have under-insured insurance for property damage (only liability), they claim I have to go through my Collision coverage. The tortfeasor's insurance will pay my deductible (according to my carrier).

My insurer needs to inspect the car, so they are going to tow it to their inspection yard then to the BMW Collision Center.

So, what do you guys think? Will a carrier still pay dimished value through a collision claim? I really hope it is totaled.....