About 3 weeks ago, this pesthole had one of its annual rainstorm floods. I had parked the new-to-me 328i on a street that I know rarely floods. When I came back, however, I found 3 inches of water in the passenger footwells. I bailed what I could and drove home. The engine, transmission, A/C, and stereo all worked, but the wipers froze up, and when I got home the front windows quietly went down and wouldn't come up. I taped bags over them, disconnected the battery, and called up my insurance (Flo's Bros) to put in a claim. I sent it via flatbed to the dealer.
A week later, I'm told the insurance has approved the repairs, fairly minimal for a modern German car, about $5100 less my deductible. I tell them to go ahead. But they have to order the new carpets, etc. Last week the dealer says they also need to add a window motor, and that has to be approved too. They are nice enough to give me a loaner car.
Well, now we come to yesterday. A chirpy lady at the dealer called me to say, "Have you thought about replacing your car?" I went, "What??!!" (Like the guy in the "Mayhem" insurance commercials) "My car is in for repair!" "Oh, I'm sorry, they told me it was totaled."
The service advisor rang next. "Yeah, the insurance people came today, and based on what's going to be required, they decided to total your car."
I checked with Progressive, and they confirmed that. They said they would email me a breakdown and evaluation . . . but that the total cost to repair would have been some $26,000, well over the most optimistic value for the car pre-flood.
I'm gobsmacked. How did the repair cost zoom from $5100 to $26K? Once I get some information, I'll share, but does this seem insane?
I've arranged for a new rental and will return the loaner, and I have my eye on a nice certified Buick LaCrosse. Don't get me wrong, I loved the BMW for its power and smoothness. But the closest BMW dealers away don't have anything I want and can afford.
But I've never gone through this before with a car I owed money on. Will the insurance people cut me a check, and I will pay my loan balance out of that? Or do they pay that, and send me the rest minus my deductible? And if I go shopping before the balance is paid, how will that affect my credit and the interest rate I can get? Any experiences, I'd love to hear about 'em!
A week later, I'm told the insurance has approved the repairs, fairly minimal for a modern German car, about $5100 less my deductible. I tell them to go ahead. But they have to order the new carpets, etc. Last week the dealer says they also need to add a window motor, and that has to be approved too. They are nice enough to give me a loaner car.
Well, now we come to yesterday. A chirpy lady at the dealer called me to say, "Have you thought about replacing your car?" I went, "What??!!" (Like the guy in the "Mayhem" insurance commercials) "My car is in for repair!" "Oh, I'm sorry, they told me it was totaled."
The service advisor rang next. "Yeah, the insurance people came today, and based on what's going to be required, they decided to total your car."
I checked with Progressive, and they confirmed that. They said they would email me a breakdown and evaluation . . . but that the total cost to repair would have been some $26,000, well over the most optimistic value for the car pre-flood.
I'm gobsmacked. How did the repair cost zoom from $5100 to $26K? Once I get some information, I'll share, but does this seem insane?
I've arranged for a new rental and will return the loaner, and I have my eye on a nice certified Buick LaCrosse. Don't get me wrong, I loved the BMW for its power and smoothness. But the closest BMW dealers away don't have anything I want and can afford.
But I've never gone through this before with a car I owed money on. Will the insurance people cut me a check, and I will pay my loan balance out of that? Or do they pay that, and send me the rest minus my deductible? And if I go shopping before the balance is paid, how will that affect my credit and the interest rate I can get? Any experiences, I'd love to hear about 'em!