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My brother's E46 M3 was most likely totaled yesterday by a pickup that rolled off a broken trailer and into it while it was parked. Frame is bent as hell and there is little doubt that it is totaled. With the holiday we won't know much until next week but we are a bit worried that the insurance company will seriously low-ball him. His car was immaculate and had several things that made it hold its value more; not to mention that he literally had brand new rear tires mounted the day before this happened. KBB says that his car is worth $11k but there isn't one for sale within 500 miles that is under $15k.

I have seen several threads here about dealing with insurance companies since pricing a Lotus can be rather imprecise. Does anyone have any advice on how to make sure he gets what he deserves from the insurance? I remember seeing someone that some companies give you the option of asking them to simply replace the car, no check, just a new car delivered to you. Is this common, or is this specific to certain insurance companies? Any advice is appreciated.
 

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Most state insurance commisions have a requirement (when an agreed value cannot be reached), the insurance company must supply a list of 3 other available cars in the same condition at a reasonable driving distance (at the value they offer). If they cannot provide 3 cars, then they must up their price. As a note, I went through this, and 2 of the 3 cars did not exist (they were theorectical cars at car lots), the third was a complete junker. I went back to them with that information, and asked for a list again... and they upped their price.
 

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Get ready to fight the insurance co. Have any receipts from the past year of fixing the vehicle or replacing any parts and tires do count and add value. If you feel the insurance co will not give you the real value of the vehicle after talking to them a few times you can get the vehicle’s value privately apprised but you have to pay for that. Good luck
 

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Hey guys! Yoyo's brother here!

Yep, that's my car, sucks quite a bit. Went to take a look at the shop it was towed at yesterday, and it's just as sad as before...nothing like seeing your baby up on a tow truck...

The car had pretty high miles (130K+) so there aren't really any examples, but it was immaculately maintained. The interior looked as though it had no more than 50K miles on it, one small crease in the leather on the passenger's seat, and the body had only one small scratch on the driver's side C-pillar... The guy that owned it before me had a job that would pay for car maintenance since he drove a lot, so he'd take it to an M shop in NC and just say "do everything." Maintenance-wise, it ran more like a car at 80K to 90K miles.

There are no cars available with miles like mine, but over 100K doesn't seem to make the value of an E46 M change that much. Once you reach 100K the value doesn't drop significantly again. Closest I can find is 120K miles, and that's listed for almost $14K like 450 miles away...

I'm pretty nervous as to what the insurance will say, but there's no way to replace it with a car with almost full maintenance records in immaculate condition for under $15K. There's a dealer car listed in PA near me with 115K miles for almost $21K! I'd expect the actual value to be closer to $15K or $16K, but I'm prepared for a fight...

My insurance sent me a "Total Loss" packet, containing something on Audatex Autosource evaluation, and also a Power of Attorney document. Anyone have any experience with either Audatex or signing PoA? I'm a bit confused as to what the PoA would give them the right to do...I don't want to hand over my right to negotiate on the value. It looks like a Pennsylvania DMV form though, so maybe common practice? It looks like it says Transferor's Power of Attorney to Disclose Mileage, so I'm guessing it is only for title issues.
 

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Never, Ever, sign a POA. They will give you some grief they can't move forward, and you are obstructing the process. Ask them to explain why they need a POA. If you must sign one, have its language restricted to JUST the things you agree to, nothing more. It will be hard to find comparable cars, but, they can do a lower milage car and use an agreed upon depreciation for milage model. Sound like they want about 10,000 for milage depreciation (about 10 cents per mile over typical Lotus). This may be a bit high. Considering the nature of the car, about 5 cents per mile over typical may be more appropriate. (Look at the depreciation milage figure big pick up trucks get, about 3 cents a mile over typical). Hopefully, you have lots of "before" pictures which show the good/well maintained condition of the car.
 

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Like I said, this is a PA Bureau of Motor Vehicles form...All I'm signing, I believe, is Transferor's Power of Attorney to disclose Mileage. It says:

I/We (me) appoint (insurance) as my attorney-in-fact to disclose the mileage on the title for the vehicle described above, exactly as is stated in my following disclosure.
Then it goes on to ask for my odometer reading.

It also says:

Subject to the limitations of 75PA. C.S. 1119, I/We appoint the person named above as my/our true and lawful attorney-in-fact to execute any and all applications for or assignment of Certificate of Title for the motor vehicle listed above, giving and granting unto my/our attorney-in-fact full power and authority to perform any act that I/we could perform if I/we were personally present.
THAT portion is what worries me.
 

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It is for me...
Interesting. My employer's system returned the bounce.

My iPhone calls it up fine.

Not typical, but not hard to believe.
 

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Perhaps you have that SWEEEET DNS virus on the machine which cannot resolve the address.
 

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A lot has to do with your insurance company. Ive had State Farm for 20 something years and they have been great to work with.
That said I would have all my recpts ready and expect to be compensated FMV of the vehicle. Keep in mind that FMV may differ from what it is worth to you.
Sorry about the car but thats the insurance company's headache now. Glad no one was hurt.
 

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Actually Fair Market Value.
Just have your recpts ready etc and do your own research of comparable cars to what you have, miles, condition, etc and submit that. They often take that into consideration.
 

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