Hoping an insurance person, or auto person can help me out with this.
First a little history.
My car is a new to me ( October ) certified pre owned BMW 328i with about 35000 miles on it. I don't keep a car long- so far my record has been about 3 years. Even though I've wanted a BMW for a while, reality has already hit that the car is small inconvenient for running errands and travel. So, I definitely won't be keeping it until the wheels fall off. Max 2-3 years is my guess.
I bought the car certified by BMW. Clean car fax. Like new condition. If I want to believe the salesman, the sales manager actually drove the car prior to my buying it. One owner. Mint condition.
The accident.
Driving home after a 12 hour day in the ER Friday, in my neighborhood, I passed ( we were both going in opposite directions on a 2 lane road- not passed, as in pulled around ) a work truck with a trailer on the back. When we intersected, a cement saw fell out of his truck and on my hood, under my drivers side tire. I was lucky. A couple seconds later and it probably would have gone through the window and killed me. But, except for a sore knee ( I think just a strain injury from slamming on my breaks so fast- I'm fine ). Obviously, there we cosmetic injuries, bumper, computer fog light, etc etc. But, I also found out today there is more serious damage. My drivers side tire took a direct hit on the saw, which caused some alignment issues. The tire was actually pushed back a little by the saw.
The driver of the truck was found accountable for the accident for not securing his load. He admitted "forgetting" to tie the saw down.
I was found not contributory. His insurance has to repair my car.
The question-
I've been told by my insurance company that I will receive a form to request depreciation compensation. Meaning, when I trade in my car, I will automatically lose value because it no longer has a clean car fax. The car will show damaged, with some structural damage. So, even having it repaired with all BMW parts at an authorized body shop, I'll never recoup that money. Hence the form.
So, I'm trying to figure out how much depreciation to ask for. I've called the BMW dealership twice and can't get anyone to answer my questions or call back. I've searched online.
I'm sure with insurance, I'll have to show "why" I'm asking for the amount of money I'll request. I just don't know how to get to that number.
Is there anyone with any suggestions?
Thanks so much.
First a little history.
My car is a new to me ( October ) certified pre owned BMW 328i with about 35000 miles on it. I don't keep a car long- so far my record has been about 3 years. Even though I've wanted a BMW for a while, reality has already hit that the car is small inconvenient for running errands and travel. So, I definitely won't be keeping it until the wheels fall off. Max 2-3 years is my guess.
I bought the car certified by BMW. Clean car fax. Like new condition. If I want to believe the salesman, the sales manager actually drove the car prior to my buying it. One owner. Mint condition.
The accident.
Driving home after a 12 hour day in the ER Friday, in my neighborhood, I passed ( we were both going in opposite directions on a 2 lane road- not passed, as in pulled around ) a work truck with a trailer on the back. When we intersected, a cement saw fell out of his truck and on my hood, under my drivers side tire. I was lucky. A couple seconds later and it probably would have gone through the window and killed me. But, except for a sore knee ( I think just a strain injury from slamming on my breaks so fast- I'm fine ). Obviously, there we cosmetic injuries, bumper, computer fog light, etc etc. But, I also found out today there is more serious damage. My drivers side tire took a direct hit on the saw, which caused some alignment issues. The tire was actually pushed back a little by the saw.
The driver of the truck was found accountable for the accident for not securing his load. He admitted "forgetting" to tie the saw down.
I was found not contributory. His insurance has to repair my car.
The question-
I've been told by my insurance company that I will receive a form to request depreciation compensation. Meaning, when I trade in my car, I will automatically lose value because it no longer has a clean car fax. The car will show damaged, with some structural damage. So, even having it repaired with all BMW parts at an authorized body shop, I'll never recoup that money. Hence the form.
So, I'm trying to figure out how much depreciation to ask for. I've called the BMW dealership twice and can't get anyone to answer my questions or call back. I've searched online.
I'm sure with insurance, I'll have to show "why" I'm asking for the amount of money I'll request. I just don't know how to get to that number.
Is there anyone with any suggestions?
Thanks so much.
