[claykin]

4 airbags, depending on how much trim has to be replaced resulting from the airbag deployment, could be well over $10K alone.

Depending on carrier, typically if repair cost exceeds 60% of NADA value (or depreciated value under your policy) they should total it.

I think you've got a reasonable chance at a total, but be careful what you wish. Depending on your policy terms, if your value is depreciated you may not like the $ they offer. In some cases its negotiable if you find real world cars selling for a higher price.....

Good luck and most of all.... As long as no one was injured. It's just a car and can be fixed or replaced.

[DgjoX6M2016]

Originally Posted by coolerbythelake

^ Some great advice here! DgjoX6M2016 knows his stuff. I wanted to clarify a couple of things though:

Generally speaking, I'd say 9/10 times, I encourage my own clients to start with the at-fault party's insurance company. You don't have to pay a deductible and are usually provided a rental car as a courtesy. In this case it doesn't sound like their insurance company will be able to cover the whole thing anyway so just start with your own and let them handle it all.

Second, you're going to be hard-pressed to find a mainstream insurance company that's going to give you anything other than an ACV policy on a new (or newer) BMW. Unless you have a classic car or a new vehicle that's been significantly modified, you're not getting agreed value. You mitigate your risk by carrying gap or some type of new car replacement endorsement if there isn't a lienholder (and even this only lasts for a model year or two).

OP, what state are you in?

Good stuff.

Look to AIG PCG, Chubb, PURE, Cincinnati for agreed value auto. Skip the ACV line and cut to the front.

They will want you whole account. Well worth it. I have limitless examples of you need them.

You can control (I.e. ensure a great one) claim experience with the right carrier.

Here are some of the primary coverage differences (for auto)

-Agreed value (especially important for rapidly depreciating rides like ours. Equally important for vehicles INCREASING in value.)
-12,500 temporary vehicle cover, no daily limit. Get a X6m for your rental.
-Unreal claim service. Adjusters don't blink if you have a M8, 62 Ferrari GTO, or a Honda.
-Take big deductibles. I run with 2k.
-Because the above sucks in a loss, deductibles are waived in total losses.
-Speaking is total losses, of damage exceeds 50% if Agreed value, the car is deemed a total. Go get a new one.
-New model cover. If new model exceeds the agreed value, don't worry. Go get it.

There is more, but these are important to me and most others.

Good luck!

[coolerbythelake]

Originally Posted by DgjoX6M2016

Good stuff.

Look to AIG PCG, Chubb, PURE, Cincinnati for agreed value auto. Skip the ACV line and cut to the front.

They will want you whole account. Well worth it. I have limitless examples of you need them.

You can control (I.e. ensure a great one) claim experience with the right carrier.

Here are some of the primary coverage differences (for auto)

-Agreed value (especially important for rapidly depreciating rides like ours. Equally important for vehicles INCREASING in value.)
-12,500 temporary vehicle cover, no daily limit. Get a X6m for your rental.
-Unreal claim service. Adjusters don't blink if you have a M8, 62 Ferrari GTO, or a Honda.
-Take big deductibles. I run with 2k.
-Because the above sucks in a loss, deductibles are waived in total losses.
-Speaking is total losses, of damage exceeds 50% if Agreed value, the car is deemed a total. Go get a new one.
-New model cover. If new model exceeds the agreed value, don't worry. Go get it.

There is more, but these are important to me and most others.

Good luck!

Seeing people that adequately insure themselves is always a "be still my beating heart" moment in my professional world. I bet you even have liability insurance matching or exceeding your assets like you're supposed to, too

These are all true, very valid points but there's a huge difference between a 65k - 75k G05 40i and an M8, Ferrari, etc. I work with Chubb in particular all the time, particularly for clients whose vehicles exceed the 6 figure mark and homes that are in the millions to replace. For the average vehicle owner - and I would lump a lot of the BMW customers into this same pool - a mainstream insurer will be more than sufficient and probably more appropriate for their needs; they wouldn't necessarily need one of the high net worth insurers mentioned. There's going to be premium difference between what Pure will charge you to insure the OP's vehicle and what Allstate or State Farm would charge you. I would absolutely expect the treatment be on a level to match. At the end of the day, I truly believe everybody should have a good financial planner and a good insurance guy (or gal) to help them make the best decisions for whatever their current situation is and goals are.

[JFU]

Originally Posted by coolerbythelake

Seeing people that adequately insure themselves is always a "be still my beating heart" moment in my professional world. I bet you even have liability insurance matching or exceeding your assets like you're supposed to, too

These are all true, very valid points but there's a huge difference between a 65k - 75k G05 40i and an M8, Ferrari, etc. I work with Chubb in particular all the time, particularly for clients whose vehicles exceed the 6 figure mark and homes that are in the millions to replace. For the average vehicle owner - and I would lump a lot of the BMW customers into this same pool - a mainstream insurer will be more than sufficient and probably more appropriate for their needs; they wouldn't necessarily need one of the high net worth insurers mentioned. There's going to be premium difference between what Pure will charge you to insure the OP's vehicle and what Allstate or State Farm would charge you. I would absolutely expect the treatment be on a level to match. At the end of the day, I truly believe everybody should have a good financial planner and a good insurance guy (or gal) to help them make the best decisions for whatever their current situation is and goals are.

My good friend who works in insurance was able to drill this into me a while ago. He also highly recommends adequate liability insurance (umbrella for one) for anyone who might have significant assets that could be exposed in lawsuits.

[DgjoX6M2016]

Originally Posted by coolerbythelake

Seeing people that adequately insure themselves is always a "be still my beating heart" moment in my professional world. I bet you even have liability insurance matching or exceeding your assets like you're supposed to, too

These are all true, very valid points but there's a huge difference between a 65k - 75k G05 40i and an M8, Ferrari, etc. I work with Chubb in particular all the time, particularly for clients whose vehicles exceed the 6 figure mark and homes that are in the millions to replace. For the average vehicle owner - and I would lump a lot of the BMW customers into this same pool - a mainstream insurer will be more than sufficient and probably more appropriate for their needs; they wouldn't necessarily need one of the high net worth insurers mentioned. There's going to be premium difference between what Pure will charge you to insure the OP's vehicle and what Allstate or State Farm would charge you. I would absolutely expect the treatment be on a level to match. At the end of the day, I truly believe everybody should have a good financial planner and a good insurance guy (or gal) to help them make the best decisions for whatever their current situation is and goals are.

I agree those carriers aren't for all, but they are for many who aren't with them. The cost won't necessarily be all that dramatic. Control the cost with sound deductibles. I do agree Main Street companies can be just fine. They will be perfect for my kids just starting out.

I have AIG, and their prices for my all my cars, from the 'ol e91, e90, '11 Honda, GL350 and x6m are all very in line. I am in the industry and know factually regular carriers can cost equally as much. I scoreboard all my covers. I have comparative auto prices for Progressive and they are crazy high. Each person is different, but in my case the rate says they don't want the exposures (f86 in particular).

Show me the total for house, liabilities, cars and the like so I can make a package decision. Breaking coverages up for discreet low covers for each is a headache at least, possible financial disaster at worst.

I would just not suggest going for cheapest. If you bought a BMW, might as well protect it/you. Get Liberty mutual but buy all the good endorsements....!

[coolerbythelake]

Originally Posted by JFU

My good friend who works in insurance was able to drill this into me a while ago. He also highly recommends adequate liability insurance (umbrella for one) for anyone who might have significant assets that could be exposed in lawsuits.

Your friend is smart. I hope you listened and took that umbrella! I think everyone should have an umbrella. You want to cover AT THE VERY LEAST the amount of assets you have. Think liquid in the bank and also non-liquid like your home, any other properties, investments, etc. If you are not an abysmal driver, the annual premium for an umbrella policy will cost you about what you'd pay for an hour of time for a decent attorney. And when you're young, it's not only your current assets but future income protection, too.

So I have a story about this coming back full circle from just a couple of weeks ago. I had an insurance review earlier this year with some clients who didn't have an umbrella. Beautiful home, no mortgage, money in the bank, this is a giant gap in coverage for them. I recommended adding one of course. A measly $168 per year. "We already pay you guys way too much money as it is." Okay whatever dude.

WELL! I get a phone call from dude's panicked wife end of October. He t-boned a vehicle and then his foot somehow stuck to the accelerator. He takes out 2 more vehicles before driving full speed into someone's home. Only has $100,000 in property damage coverage on his auto policy. "Will that be enough do you think?" is what I was asked. His first ever accident. Attorneys are now involved. I feel awful for them.

Freak things happen. Get as much liability insurance as you can reasonably afford.

[coolerbythelake]

Originally Posted by DgjoX6M2016

I agree those carriers aren't for all, but they are for many who aren't with them. The cost won't necessarily be all that dramatic. Control the cost with sound deductibles. I do agree Main Street companies can be just fine. They will be perfect for my kids just starting out.

I have AIG, and their prices for my all my cars, from the 'ol e91, e90, '11 Honda, GL350 and x6m are all very in line. I am in the industry and know factually regular carriers can cost equally as much. I scoreboard all my covers. I have comparative auto prices for Progressive and they are crazy high. Each person is different, but in my case the rate says they don't want the exposures (f86 in particular).

Show me the total for house, liabilities, cars and the like so I can make a package decision. Breaking coverages up for discreet low covers for each is a headache at least, possible financial disaster at worst.

I would just not suggest going for cheapest. If you bought a BMW, might as well protect it/you. Get Liberty mutual but buy all the good endorsements....!

Preach, my friend!

And also LOL @ Liberty Mutual. Have you seen their latest commercials? "Liberty Mutual customizes your car insurance so you only pay for what you need." ...and the other companies don't?? I do enjoy their emu a little more than the gecko so there's that.

[DgjoX6M2016]

Originally Posted by coolerbythelake

Your friend is smart. I hope you listened and took that umbrella! I think everyone should have an umbrella. You want to cover AT THE VERY LEAST the amount of assets you have. Think liquid in the bank and also non-liquid like your home, any other properties, investments, etc. If you are not an abysmal driver, the annual premium for an umbrella policy will cost you about what you'd pay for an hour of time for a decent attorney. And when you're young, it's not only your current assets but future income protection, too.

So I have a story about this coming back full circle from just a couple of weeks ago. I had an insurance review earlier this year with some clients who didn't have an umbrella. Beautiful home, no mortgage, money in the bank, this is a giant gap in coverage for them. I recommended adding one of course. A measly $168 per year. "We already pay you guys way too much money as it is." Okay whatever dude.

WELL! I get a phone call from dude's panicked wife end of October. He t-boned a vehicle and then his foot somehow stuck to the accelerator. He takes out 2 more vehicles before driving full speed into someone's home. Only has $100,000 in property damage coverage on his auto policy. "Will that be enough do you think?" is what I was asked. His first ever accident. Attorneys are now involved. I feel awful for them.

Freak things happen. Get as much liability insurance as you can reasonably afford.

Ouch. Wait until they attach future earnings. Brutal. Totally f###ed to save 150 bucks. Hope you have it documented for E&O purposes! (Sounds like you do!)

I don't 'like' buying insurance either, but it is like an electric bill. Have to have it.

Ever heard of social inflation?

Google it...it's real.

[JFU]

Originally Posted by coolerbythelake

Your friend is smart. I hope you listened and took that umbrella! I think everyone should have an umbrella. You want to cover AT THE VERY LEAST the amount of assets you have. Think liquid in the bank and also non-liquid like your home, any other properties, investments, etc. If you are not an abysmal driver, the annual premium for an umbrella policy will cost you about what you'd pay for an hour of time for a decent attorney. And when you're young, it's not only your current assets but future income protection, too.

So I have a story about this coming back full circle from just a couple of weeks ago. I had an insurance review earlier this year with some clients who didn't have an umbrella. Beautiful home, no mortgage, money in the bank, this is a giant gap in coverage for them. I recommended adding one of course. A measly $168 per year. "We already pay you guys way too much money as it is." Okay whatever dude.

WELL! I get a phone call from dude's panicked wife end of October. He t-boned a vehicle and then his foot somehow stuck to the accelerator. He takes out 2 more vehicles before driving full speed into someone's home. Only has $100,000 in property damage coverage on his auto policy. "Will that be enough do you think?" is what I was asked. His first ever accident. Attorneys are now involved. I feel awful for them.

Freak things happen. Get as much liability insurance as you can reasonably afford.

I definitely did. I'm carrying regular liability and umbrella. The umbrella policy is $250 a year and it mitigates a lot of risks. I'd suggest more people look into it to see if it might be worth their while.

[DgjoX6M2016]

Originally Posted by JFU

I definitely did. I'm carrying regular liability and umbrella. The umbrella policy is $250 a year and it mitigates a lot of risks. I'd suggest more people look into it to see if it might be worth their while.

Good idea!

And for those in FL, liability cover is NOT even compulsory!! F'ing terrifying.

In that case you need big UM/UIM cover for the nitwit who wrecks into you, destroys your nice car, and puts you in the hospital.

[midwestbmwguy]

Car was structurally totaled. Parts not even available until March 2020! Yes that is correct. The hit on the rear also took out the electrical system which is located on the right rear of the hatch area.
Unbelievable that a vehicle that had a sticker price of 70k + is totaled.
Decided not to buy another one based on the parts issue but now trying to decide what to buy next.
I like the SUV but every other on has 3rd Row seating which I don’t want or need.
Perhaps a Audi Q7 or go back to a 7 series.

[natahoa]

Originally Posted by midwestbmwguy

Car was structurally totaled. Parts not even available until March 2020! Yes that is correct. The hit on the rear also took out the electrical system which is located on the right rear of the hatch area.
Unbelievable that a vehicle that had a sticker price of 70k + is totaled.
Decided not to buy another one based on the parts issue but now trying to decide what to buy next.
I like the SUV but every other on has 3rd Row seating which I don’t want or need.
Perhaps a Audi Q7 or go back to a 7 series.

The Lincoln Nautilus is the only other large SUV without a third row seat. Has pretty much the same features as the X5 and costs quite a bit less. I liked it when I drove it.

I’m also interested in driving the new Lincoln Aviator. But I think that one has the third row seats. It is more of a truck build also, if you need those capabilities.

[natahoa]

Originally Posted by midwestbmwguy

Car was structurally totaled. Parts not even available until March 2020! Yes that is correct. The hit on the rear also took out the electrical system which is located on the right rear of the hatch area.
Unbelievable that a vehicle that had a sticker price of 70k + is totaled.
Decided not to buy another one based on the parts issue but now trying to decide what to buy next.
I like the SUV but every other on has 3rd Row seating which I don’t want or need.
Perhaps a Audi Q7 or go back to a 7 series.

Yes, based on the parts problem I had for my minor collision, I’ll trade my X5 for something else in a year or two. I’m looking at luxury pickups, which have real bumpers, I think.

[DgjoX6M2016]

Originally Posted by midwestbmwguy

Car was structurally totaled. Parts not even available until March 2020! Yes that is correct. The hit on the rear also took out the electrical system which is located on the right rear of the hatch area.
Unbelievable that a vehicle that had a sticker price of 70k + is totaled.
Decided not to buy another one based on the parts issue but now trying to decide what to buy next.
I like the SUV but every other on has 3rd Row seating which I don’t want or need.
Perhaps a Audi Q7 or go back to a 7 series.

This is why auto insurance can be expensive, and there is a bit of a tug of war with the expectation autonomous driving will lower auto rates. Crashes should decrease in frequency, but when they do happen....look out....the tech in the car makes for very expensive repairs. Your crash is a perfect example.

Until all is autonomous and nitwits in low tech cars stop rear ending newer ones, we will be paying sizeable premiums.