ICBC sucks

[murphymurf]

So my brother-in-law is getting screwed by everyone's favorite insurance company. He has my old 325is ( see here http://www.bimmerclassics.net/forum/...do=view&id=463 ) and it was hit over the weekend by a drunk guy driving a monster SUV. My bro was stopped at a light and the guy in front of him decided to reverse all of a sudden right into his front end. Damage isn't too bad as it wasn't high speed. Fender is crumpled and I 'm sure a few other things will need replacing. But ICBC has told him it's a write off and they are going to give him $1500 for it! Thats it.


What do you think, it should be no problem picking up a car like this for $1500 right ????? ( insert sarcasm here)



remind me why we pay insurance again

[onaquest]

Originally Posted by murphymurf So my brother-in-law is getting screwed by everyone's favorite insurance company. He has my old 325is ( see here http://www.bimmerclassics.net/forum/...do=view&id=463 ) and it was hit over the weekend by a drunk guy driving a monster SUV. My bro was stopped at a light and the guy in front of him decided to reverse all of a sudden right into his front end. Damage isn't too bad as it wasn't high speed. Fender is crumpled and I 'm sure a few other things will need replacing. But ICBC has told him it's a write off and they are going to give him $1500 for it! Thats it. What do you think, it should be no problem picking up a car like this for $1500 right ????? ( insert sarcasm here) remind me why we pay insurance again

I'm sorry to hear about the misfortune. From what i gather, the book value of e30's isnt very high. A friend of mine, who was in this situation once upon a time, was able to squeeze some more money outa icbc by showing his shoebox of receipts and maintenance records. If your brother hasn't signed for anything yet, he should try to negotiate his payout.. 1500 does not seem fair.

[bcbimmer]

that's too bad, i though when u buy the car they put how much u payed for it. and if it has collision its covered to that ammount ? ya icbc a *****, never been in an accident or anything, dont know your insurence history , but i would not stop complaining . show every little thing of history, maybe show em in the paper or somthing what these cars in top shape are going for. best of luck fight icbc for money

[Spaz]

generally if you show the maintance records, and get comparisons from cars for sale on the buysell, forums, craigs lists, etc. you will get a way higher settlement, they should be oftering around what you paid for the car depending on when it was bought. also if they are jerking you around talk with the manager of the claim center, and/or threaten to go to court and have your own apparised value of the vehicle. just because the "blue book" value says 1500 it doesn't mean that what the car would sell for on the street, book value is WAY lower then what e30s sell for...its a shame, i've been through the same dealings with icbc, and after some pestering i got the proper amount.

good luck
-cam

[murphymurf]

You guys are right, he has to build a case for how valuable the car is. Good thing I have every receipt from the past 15 years of the car. It's like a book.

Oh and the adjuster who told him the car the car isn't worth crap also drives a e30 318?!?! Do you think he would sell his car for $1500???

[motoyen]

I would recommend everyone to get their car appraised. I talked at length to Nigel Mathews of ICBC’s Specialty Vehicle division about my car amd he told me an appraisal done by an ICBC accredited appraiser will go a long way in helping you get the most for your car. I had mine done by John Carlson (carlson44@shaw.ca) and IMO it's the best investment for your car.

[porschegt1]

I would ask ICBC if you can keep the car as a parts car. Then you can part it out and get more than $1500.00 easy for what you get in an IS, especially if only the front is slightly mangled.

[VtwinVince]

After my experience last year, I'm definitely getting an appraisal done.

[redhatpat]

What does an appraisal cost?

[go4carter]

Originally Posted by porschegt1 I would ask ICBC if you can keep the car as a parts car. Then you can part it out and get more than $1500.00 easy for what you get in an IS, especially if only the front is slightly mangled.

I asked about this when they tried to pull something similar with me last year... no luck, they consicer the car theirs when they pay you out. You'd have to buy it from the wrecker they sell it to.

A combo of reciepts, current URLs of cars for sale and a good word from my e30 loving autobody guy got them to fix my front end collision (however, they would only put in $6500 worth or work).

[porschegt1]

Originally Posted by go4carter I asked about this when they tried to pull something similar with me last year... no luck, they consicer the car theirs when they pay you out. You'd have to buy it from the wrecker they sell it to. A combo of reciepts, current URLs of cars for sale and a good word from my e30 loving autobody guy got them to fix my front end collision (however, they would only put in $6500 worth or work).

What if they haven't paid you yet?

[djlehal]

I work for a private insurance company. Ask ICBC to show how they came to $1500.
Thy have to pay you Actual Cash Value for what the vehicle is worth in the market (what someone else would pay for you vehicle if it was for sale).
You can also take the appraisal route - hire an appraiser to do a appraisal on your vehicle and the appraiser will negotiate a price with ICBC - cost $200.