Andy G

Momo5

I had a similar problem about 10 years ago. My Mini Cooper S was written off in an accident, it had a market value of £8500 at the time. They offered me half it's price, saying they could get another Mini, exactly like mine, but for this revised price, after a lot of hassle, and arguements, I agreed that if they could find me one, in exactly the same condition, spec etc, I would have it. But I would reject a cash handout unless it was for the full value of the car they insured (£8.5k).
At the time, decent restored Cooper S types were very hard to find, mine was nearly a concours, factory fresh Cooper. So they had no choice but to concede.
I was told by my local CAB that if I have a dispute with the insurance company over a legitamate claim then I was to refuse the cash offer unless it was to my satisfaction. (this was 10 yrs ago, but check it out legally).
The problem is, they seem to base the quote on the market value, but pay out on the trade value, if you get a car on finance, you're stuffed, but now finance companies offer 'gap' insurance, which will pay the difference between the two.
The only other way is to prove the value of your car, by collecting current ad's showing vehicles similar to yours with the value shown, from the likes of Top Marques, E&M, Auto Trader etc, and sending them that. It all helps.
Good luck
AG

M5 powered

Hi Momo,


Sorry to hear about your car. Yes I am aware of the difference between insured and agreed and was before entering into the policy. For this reason I continually keep track of the market price of my car (print outs) and keep an up to date set of pictures showing condition. Thus in the event it is nicked (price is logged with tescos at £16.5K) I'll make them find a replacement and good luck to them! Again as in your case they would probably have to concede or get quite close, otherwise small claims court.

In most cases you do have a fight with insurance companies and they can be as bad as the bastard who stole your car.

Regards


M5 powered

Alan Archer

£1280 Adrian Flux, 10yrs NCB, 29years old, 6000miles a year,
no accidents,claims or speeding fines.

Driveway parked,

£16k value,

London SE9 post code....

IvanDias

I too played the insurance game when the 535i got written off.


Immaculate, recent BMW respray, FSH, low miles for year etc etc...
Offered pittance for it.



On a note about current values, one of the guys here at work has the Nov 2001 What Car User Car price guide.

Here`s what they reckon.


M5 E34.

Year CostNew Dealer Private Trade

1992 45050 7295 6545 4395
1993 49750 9295 8395 5845
1994 51450 11095 10495 7395
1995 52480 13245 12445 8895

Bear in mind that insurers take the "trade" value first.
Special editions and lots of options don`t count according to the average assesor.


Makes horrendous reading doesn`t it? It would be virtually impossible to buy another car for the prices stated here.

So, if possible, as the others said, go and get an agreed value, not an insured value if your insurance company allows this.




Total numbers. This is cut`n`pasted from my earlier post.

The following info is taken from and thanks go to www.e34bmwm5.com


Production numbers of E34 ///M5 3.6

1988 331, 1989 2339, 1990 3022, 1991 2033, 1992 224, 1993 130


Production numbers of E34 ///M5 3.8

1991 120, 1992 1553, 1993 643, 1994 483, 1995 215




Total 3.6 = 8079

Total 3.8 = 3014

Remember USA didn`t get 3.8 so numbers are skewed in favour of 3,6

Add the 891 3.8 Tourings, gives a total number of E34 ///M5's at 12249. (There were 265 CKD assembled outside Germany)


According to BMW, from 1989 untill 1995, only 696 cars were sold officially to the UK. This means all of them, 3.6 & 3.8.



You have to account for what percentage you think have been crashed, written off or stripped for parts. Not to many around then.

__________________
"Never enter Karussell when on the brakes! I have gone round there on the roof, I know what I'm talking about." ~ Sabine Schmitz

Bryn

Thanks for the figures - I knew I'd seen them before somewhere, but couldn't remember where!

Does anyone know when the 5 series was revised to get the wide grille and different bonnet? Mine has these, although it wasn't originally supplied with them.

Bryn.

M5 powered

1995. See the models link on the home page www.bmwm5.com for all info.

Regards


M5 powered

bibbya

So my £838 seems ok. 35yrs old clifford concept 50 full NCB etc. If anyone is interested Phonus Insurance 01525 404222. Still think my SO3's are marvellous even with 1 front shock shot.

Andy

C_O_L

I'm a member of the BMWCC I've got a BMW
http://www.hotbimmer.net/gallery/view.asp?id=54
and their not friendly to me either! I sent them various emails and letters on a variety of subjects with no acknowledgment whatsoever (that's not strickly true they just sent a reminder that my membership is up for renual) the whole of the bimonthly magazine is devoted to kissing the arse of overated E30 M3's and 2002's with the MPower section getting two pages if it's lucky usually one! there is a good read in this months mag about E36 Coupe and govermental legislation on drivers (very witty) but other than that loads of pics all through the mag of 2002's!!!!!! save your money!!

IvanDias

I`m agreeing with COL !!!


This months issue is deadly.

The supposed Mpower section is one page (!), and is a picture of the M3 CSL which is not going into production as such, there is a lesser cost version coming with the same name. Thats useful then.

The entire page is exactly the limited information I read in BMW Car and BMW Power last month. Doh!

The wessex region news is that they found a dodgy biker hardnut pub in Hayling island that didn`t serve food at night and err... does anyone else want to organise it next time.

Riveting Stuff.

__________________
"Never enter Karussell when on the brakes! I have gone round there on the roof, I know what I'm talking about." ~ Sabine Schmitz

richard-uk

Hi I'm another brit. i havent joined any of the clubs yet, but looking at the insurence some of you are paying i won't bother from that piont of view. Currently paying 720 fully comp 4 years ncb 46 years young e34 1991 3.6 m5 garraged 10 000 per year
with Norwich union. Interestingly they have a layup clause if your car is alarmed (imobilised?) and locked in a private garage for 28 days or more they refund 75% of the policy for that period. As i work offshore for over 6 months a year I'll get nearly 50% of my policy back