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Thread: Establishing Insurance value help

  1. #1
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    Establishing Insurance value help

    I need any suggestions regarding establishing insurance value for a wreck that will most certainly be a total loss to by 94 530iT, which is really a 540iT now. Another driver pulled out in from of my car travelling at 55mph. Basically Tboned a Subaru at the LF tire area.

    In the past I have always been able to collect Craigslist ads of comparable vehicles and the insurance works with me from there with satisfactory results for me.

    As of right now, I have not received an estimated settlement from insurance, but I fully expect them to low ball it just like they always have in the past.

    If insurance uses the NADAguides they "might" be close on a settlement value. I they us Kelley Bluebook, it looks like we won't even be close.

    Here is my current issue with the Craigslist ads method, there are absolutely zero E34 tourings for sale on my local Craigslist.

    So, if you have one for sale on your local Craigslist, would you please post a link here? I can't possibly search every city for them.

    If you have other suggestion for establishing value, I would appreciate those too.

    Here is a list of things done to this car, I am sure that I am forgetting stuff too.

    1994 BMW 530iT
    Complete 540 drive train swap. Motor/trans/driveline/3.64 LSD/axle shafts/rear companion flanges/engine-trans wiring harness/shifter assembly/front-rear brakes.
    I found a wrecked 540iA Dinan optioned sedan at my local pick-n-pull and I took everything I could get from it. M60B40 Alusil replacement block, 5HP30 trans. Dinan chip for Engine computer.
    Complete 2.25” stainless mandrel bent exhaust system custom built. Magnaflow stainless catalytic converters, and mufflers(x2). One under the middle , one at the left rear corner just like factory. Both dual inlet/outlet.
    Bilstein struts all around, Urethane front control arm bushing(upper and lower). Urethane rear sub-frame bushings. Rear control arm bushings replaced too.
    Dinan adjustable sway bars front and rear.
    Modified rear sub-frame. Camber and toe adjustable. Rear camber will adjust from approximately -.5° to -2.5°.
    Front and rear brakes have less than 5k miles on them. Pads/calipers/rotors. All 540i brakes.
    Stainless brake lines front and rear.
    Type 32 wheels powder coated 60% gloss black. 17x8 front, 17x9 rear.
    245/45/17 , 275/40/17 Continental DWS II tires. Rears have miles left in them, but definitely not new. Fronts are getting really low on tread.
    Powder coated valve covers(red), radiator replaced recently.
    Pioneer MVH-X560BT head unit powering the factory amp and speakers.
    Euro roof rack bars.
    Headliner recently recovered in black.


    OK, with all that said, I will almost certainly be buying the car back from insurance and parting it out. I will make a separate thread for that when I am done dealing with the insurance company.

  2. #2
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  3. #3
    moroza's Avatar
    moroza is offline MORΩN ΛABIA BMW CCA Member
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  4. #4
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    Quote Originally Posted by moroza View Post
    I sold my cosmetically-challenged 544iT for $4500. I would expect yours to be worth more given the cosmetic condition and upgrades.
    Thank you Moroza, IIRC you are in the PNW aren't you. Think I remember seeing your car on the Portland CL.

  5. #5
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    Bumping this up, hoping somebody can provide some Craigslist listings.

  6. #6
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    You can use Google's site search to search the whole of craigslist. Type "site:craigslist.org 1995 bmw e34 touring wagon" or whatever variation you like into google. There are a few for sale but not many that will help your case.

    https://jacksonville.craigslist.org/...694340031.html

    https://bakersfield.craigslist.org/c...709277284.html

    https://sandiego.craigslist.org/nsd/...724813896.html

    https://sandiego.craigslist.org/nsd/...723103776.html

    https://sandiego.craigslist.org/esd/...713794415.html

    There have been a couple on b.a.t. this year, too.

    https://bringatrailer.com/2009/09/29...bmw-e34-wagon/

    https://bringatrailer.com/listing/1995-bmw-530i-2/

    I'm sorry to hear about your accident and glad that you're ok. I hope the insurance company will give you a settlement that you're happy with.

  7. #7
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    Quote Originally Posted by petebob View Post
    You can use Google's site search to search the whole of craigslist. Type "site:craigslist.org 1995 bmw e34 touring wagon" or whatever variation you like into google. There are a few for sale but not many that will help your case.
    This is excellent, Exactly what I was needing. And just might come in handy for a couple other searches too. Could use some 71 Toyota Hilux fenders, nothing locally yet.

    Thank you

  8. #8
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    Mine took pretty much the same hit a couple of years ago when I ran into the back of a car stopped on the interstate in the middle of Atlanta. RF fender, hood, radiator support, everything up front including engine fans. State Farm paid $7500 to fix it, I did supply some new parts like lights, radiator, fan, to keep the costs down. Helps to keep receipts and I have a 3" binder full of them. I thought for sure they'd total it but they didn't.


  9. #9
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    last June an uninsured woman decided it would be a good idea to blast through the emergency /authorized vehicle only cut across between interstate lanes after she missed her exit since that pass-through was directly across from the off-ramp on the opposite side and the next exit was miles up the highway... she perhaps assumed being a rather rural area she'd be fine without looking or stopping yet there I was blissfully enjoying my finely tuned Bavarian Bomber when she came flying out. Cutting her wheel left at the last moment she slammed broadside into me pushing my car into the right guardrail off which I bounced back into her then across and into the opposite guardrail at around 50 MPH.. I got $1,700 after showing a few receipts for parts installed within the previous 12 months and that was that. I was able to swap out my Hella Smoked tail lights, my e36 sport steering wheel , my CD43 and my M system wheels with nearly new Michelin Pilot Super Sport tires all for which I swapped back the stock parts. They only wanted $225.00 for the wreck but I had nowhere to bring it and part it..

    Quote Originally Posted by 530IT View Post
    I need any suggestions regarding establishing insurance value for a wreck that will most certainly be a total loss to by 94 530iT, which is really a 540iT now. Another driver pulled out in from of my car travelling at 55mph. Basically Tboned a Subaru at the LF tire area.

    In the past I have always been able to collect Craigslist ads of comparable vehicles and the insurance works with me from there with satisfactory results for me.

    As of right now, I have not received an estimated settlement from insurance, but I fully expect them to low ball it just like they always have in the past.

    If insurance uses the NADAguides they "might" be close on a settlement value. I they us Kelley Bluebook, it looks like we won't even be close.

    Here is my current issue with the Craigslist ads method, there are absolutely zero E34 tourings for sale on my local Craigslist.

    So, if you have one for sale on your local Craigslist, would you please post a link here? I can't possibly search every city for them.

    If you have other suggestion for establishing value, I would appreciate those too.

    Here is a list of things done to this car, I am sure that I am forgetting stuff too.

    1994 BMW 530iT
    Complete 540 drive train swap. Motor/trans/driveline/3.64 LSD/axle shafts/rear companion flanges/engine-trans wiring harness/shifter assembly/front-rear brakes.
    I found a wrecked 540iA Dinan optioned sedan at my local pick-n-pull and I took everything I could get from it. M60B40 Alusil replacement block, 5HP30 trans. Dinan chip for Engine computer.
    Complete 2.25” stainless mandrel bent exhaust system custom built. Magnaflow stainless catalytic converters, and mufflers(x2). One under the middle , one at the left rear corner just like factory. Both dual inlet/outlet.
    Bilstein struts all around, Urethane front control arm bushing(upper and lower). Urethane rear sub-frame bushings. Rear control arm bushings replaced too.
    Dinan adjustable sway bars front and rear.
    Modified rear sub-frame. Camber and toe adjustable. Rear camber will adjust from approximately -.5° to -2.5°.
    Front and rear brakes have less than 5k miles on them. Pads/calipers/rotors. All 540i brakes.
    Stainless brake lines front and rear.
    Type 32 wheels powder coated 60% gloss black. 17x8 front, 17x9 rear.
    245/45/17 , 275/40/17 Continental DWS II tires. Rears have miles left in them, but definitely not new. Fronts are getting really low on tread.
    Powder coated valve covers(red), radiator replaced recently.
    Pioneer MVH-X560BT head unit powering the factory amp and speakers.
    Euro roof rack bars.
    Headliner recently recovered in black.


    OK, with all that said, I will almost certainly be buying the car back from insurance and parting it out. I will make a separate thread for that when I am done dealing with the insurance company.
    Last edited by jehu; 10-20-2018 at 01:43 AM.

  10. #10
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    Make a compilation of all the work you have done and document with receipts. This is particularly helpful especially if the work was performed in the last 12 months. Insurance estimators typically work of a 70% market valuation and use that figure to evaluate whether the cost of repairs exceeds that valuation. From the car owner's perspective the drill is boost market valuation by showing recent sales/ads for sale and increase the value of your vehicle by providing proof of significant repairs and all upgrades. Avoiding a total loss verdict is important because having a salvage title makes things difficult on many fronts, especially resale. Good luck. Hope you come out on top.

  11. #11
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    I showed several recent e34 540 sales from German car blog, bring a trailer and ebay but the claims rep stated they were "out of market" meaning they were not cars in this area and could not be considered representative of my car's value. they were all up around $5,0000 + . I felt this was a rubbish tactic but they were inflexible
    Quote Originally Posted by GregT53 View Post
    Make a compilation of all the work you have done and document with receipts. This is particularly helpful especially if the work was performed in the last 12 months. Insurance estimators typically work of a 70% market valuation and use that figure to evaluate whether the cost of repairs exceeds that valuation. From the car owner's perspective the drill is boost market valuation by showing recent sales/ads for sale and increase the value of your vehicle by providing proof of significant repairs and all upgrades. Avoiding a total loss verdict is important because having a salvage title makes things difficult on many fronts, especially resale. Good luck. Hope you come out on top.

  12. #12
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    https://www.bimmerforums.com/forum/s...ns-Touring-hit
    We have seen this before "Made whole" is required to close the claim. If they believe in their valuation, have them supply a comparable replacement and deliver it to you from inside " the market" in as pre collision condition. You don't have to accept their number.
    Last edited by RobZR; 10-21-2018 at 08:45 PM.

  13. #13
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    Maybe check w/ hagerty see if they're willing to help.

    Sorry to hear, hopefully you get the most out of it.

  14. #14
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    Thanks to all who replied offering assistance.

    It took almost four months to settle with the insurance company. I ended up getting paid extremely well for this car. I did not buy it back like I originally planned too. Salvage value went way up when the settlement value went up. Just was not going to be worth my time to pull the parts from the car. It should be on a Copart auction very soon in Portland.

    I have created a sale thread of leftover parts I still have in my garage, but the car is gone.
    https://www.bimmerforums.com/forum/s...2#post30199192

  15. #15
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    Do you mind sharing how much?

  16. #16
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    Quote Originally Posted by katit2 View Post
    Do you mind sharing how much?
    Original insurance settlement offer was $3000.

    After submitting 10 years worth of receipts and the insurance company hiring out a appraisal from a specialty car appraisal company. Then me spending time itemizing all the upgrades and costs to do so.
    Insurance is now paying $8700.

    Just a nice reminder to keep all of your upgrade receipts.

  17. #17
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    Congrats! This is unbelievable!

  18. #18
    moroza's Avatar
    moroza is offline MORΩN ΛABIA BMW CCA Member
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    I can build a pretty good E34 for 8700. Well done!

  19. #19
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    Good for you! I may have missed it earlier, but what insurance company were you dealing with?

  20. #20
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    Hot damn! Go get an msport or something!

  21. #21
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    Quote Originally Posted by 530IT View Post
    Original insurance settlement offer was $3000.

    After submitting 10 years worth of receipts and the insurance company hiring out a appraisal from a specialty car appraisal company. Then me spending time itemizing all the upgrades and costs to do so.
    Insurance is now paying $8700.

    Just a nice reminder to keep all of your upgrade receipts.
    Glad it worked out for you. Here's mine after it was put back together (earlier post this thread).


  22. #22
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    Quote Originally Posted by gtopaul View Post
    Glad it worked out for you. Here's mine after it was put back together (earlier post this thread).
    That looks great.
    Unfortunately, mine was hit way too hard to even consider fixing. The right front corner was pushed back roughly 18". Metal was bent through the passenger floorboard and bottom of the passenger Apillar. The driveline tunnel was bent enough that the center console no longer sat flush to the floor.

  23. #23
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    Here is a heads up for anybody interested. My touring has landed in the Sherwood Picknpull.
    https://www.picknpull.com/vehicle_de...HK2317RGF80266

    The list of goodies that this car had on it is at the beginning of this thread.

  24. #24
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    Wish I had noticed they had put it out at Pnp sooner. I've been waiting for 4 years for another touring to appear in one of the local yards. Unfortunately for me, every single touring only part that I need was either gone or someone had smashed to bits. I do wish people wouldn't destroy rear hatch glass when all they wanted was the brake light. Oh well, I'll just have to be quicker, next time.

    You did unbelievably well to get that much out of the insurance company. My rolling wreck is worth more than I thought!
    Last edited by xcastaway; 04-12-2019 at 02:41 PM.

  25. #25
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    This parallels my experience when I sandwiched my '72 2002tii. The lowball insurance company compared by tii to a carbed rustbucket I had checked out the week before. I hung up on them three times, assembled a two-page single-spaced letter recounting why and how a tii was different than carbies. I collected a year of BMWCCA classifieds for the three years of USA tii production, threw out the high-dollar creampuffs and cheapo sh*tboxes, and averaged the rest. I got enough to have the body shop put the car back together with a new paint job. It's all about finding comparable cars and actual market value.

    Sold the car a year later to a neighbor who wrecked it, kept it, transferred the drivetrain (near-new factory long block and rebuilt trans) into another good body, which he wrecked soon after.

    You gotta be harder on it, and better informed, about your car if it's in any way special or upgraded. I wouldn't have thought parts receipts counted for anything more than sunk cost (irrecoverable) but if you did the work to put them it, you'll know the car far better than the adjuster. Sometimes, too, just being a good deal more adamant will advance your case. Being a little more polite than I was probably would help too.
    Charlie

    Your mission, should you decide to accept it, is to add value to these threads, either by pictures or by descriptions, so the next person with the same or similar problem stands on your shoulders.

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