The 320d Sports E90 LCI thread

[Schwepps]

Yeah, a motor claim can never exceed the market value of the car. A mixture of ego and wishful thinking will tend to make the owner of a 2 yr old 325i Sports value his 310k car at 270k. The reality is that the market value is probably even less than 180k. The difference in premium between 270k and 180k is an overpayment which the insurance company will gladly accept. :wink:

 

[astroboy]

I requested my insurance agent to insure my 24 months old E90 N46B20BA at RM150k but was told under insured, so no choice but had to insure RM160k.. Premium RM2k at max NCB..

 

[Ennui78]

Thanks to Shwepps and Astroboy for the heads up. I'll steel myself for what's coming...

 

[Schwepps]

I requested my insurance agent to insure my 24 months old E90 N46B20BA at RM150k but was told under insured, so no choice but had to insure RMRM160k.. Premium RM2k at max NCB..

Only your finance company can tell you it's underinsured, because only they have an interest in your car. That's why your finance company will ask for a copy of your cover. If you paid cash for your car, or if it's fully paid up, you wouldn't even have to have comprehensive cover to renew your road tax. An agent's agenda is to get you to buy as much insurance possible.

 

[astroboy]

My finance company never ask me for a copy of the insurance policy, perhaps the very first year but after that they never contacted me. When it comes to claim, the insurer will try their best to slap u with the under insured clause so they reimburse u less. So in order to avoid this, I always insure my cars at a price slightly below the advertised price in the classified column because that will be the fair and actual transaction price.

When I asked for RM150k, I am just trying to push my luck because that's the price a dealer would take my car and sell it at RM16x to make a profit. The higher of the transaction price is often used by insurer as a market value guide for obvious reason. Anyway, the 10k difference in value doesn't make much difference in risk premium.

The term "under insured" means differently to a bank. They are only interested in securing their outstanding loan so if your still owe your financier RM10k on your E90, the financier will make sure u insure your E90 no less than RM10k but are u really going to insure your E90 at RM10k? When an accident happened and require RM30k to fix, the insurer will tell u you are under insure by (160-10)/160=93.75% so they will only reimburse u with RM30k - 93.75%= RM1,875 on the RM30k claim. Now, that's the real issue with under insured. And when u lost the car, instead of claiming RM160k, the insurer will only reimburse u with RM160k-93.75%=RM10k!!

And I'm certainly sure u won't be driving around a quarter million Ringgit car with 3rd party insurance because once the car stolen, U don't get to claim a single sen..

 

[Ennui78]

The mind boggles...... Bimba's owner very pening liao. Am digesting all this slowly. Astro, Shwepps, come March, am gonna PM you guys to ask you what to do!

 

[BlackE90]

Astroboy, FYI. comparison Values as at today (19/12/2009).

Model: 320I E90 Sedan 4dr Steptronic 6sp RWD 2.0i (CKD - Non SE / Sports)

YEAR: 2007
RECOMMENDED INSURED VALUE : RM162,000
VALUE IN MOTORTRADER : RM169,800
VALUE IN CLASSIFIED - THE STAR : RM169,800 to RM175,800

 

[Schwepps]

Blackie, what's the value of a 2008 325i Sports?

Actually, Astro, your finance company doesn't care either because even if you suffer total loss, you still owe them the loan and will still have to pay the instalments. I never submit my cover alhough they ask.

 

[BlackE90]

Blackie, what's the value of a 2008 325i Sports?

Actually, Astro, your finance company doesn't care either because even if you suffer total loss, you still owe them the loan and will still have to pay the instalments. I never submit my cover alhough they ask.

Uncle Schwepps, here are the values as at today(19/12/2009).

325I E90 Sedan 4dr Sports Steptronic 6sp RWD 2.5i (Pre LCI)

YEAR 2008:
Reccomended Insured Value : RM206,000
Motortrader : RM235,000
The Star : RM234,800

325I E90 Sedan 4dr Sports Steptronic 6sp RWD 2.5i (LCI)

YEAR 2008
Recommended Insured Value : RM227,000
Motortrader : RM25x,xxx
The Star : N/A

 

[Schwepps]

Thanks Young Black! 180k would still be right for me because 2 yrs for mine is in mid-2010. That's a pretty hefty drop for the LCI 325i Sports! Didn't it come out only exactly a year ago?

Where do you get these values? Is it a website? Do share.

 

[racheltoh]

BlackE90 is the walking info...

Since Schwepps will do Rm180k..then I will do rm160k? I think tough luck cos when I renewed in Apr 2009, the insured amount was rm210k (lowest amount) cos I wanted to do it rm190k.

 

[BlackE90]

Thanks Young Black! 180k would still be right for me because 2 yrs for mine is in mid-2010. That's a pretty hefty drop for the LCI 325i Sports! Didn't it come out only exactly a year ago?

Where do you get these values? Is it a website? Do share.

Uncle, the Motortrader & The Star - Classified are available online. Just go to their website and you'll be able to locate the values as per the advertisers (direct owners & car dealers).

As for the recommended insured values posted are from my company's website, which we engaged a third party car valuer to provide us with the current market values of all the makes & models.

There are two types of insured value used by various insurance companies; 1) Market Value basis, 2) Agreed value basis. The difference between the two is the compensation basis upon a Total Loss (Accident / Theft).
Hope you can differentiate from the two variances.

 

[Schwepps]

Thank you Jungblek! Is your company's website intranet only or public?

Don't unnerstand your last para. Can you elaborate please?

 

[Makko]

yaa...no need to regret what u've just bought so recently...any e90 no matter what cc is already a very good car which many ppl can only dream to own...so no regrets, few yrs down the road u can change car. by that time u can consider diesel options

makko, i've just dicovered that our diesel car's fuel filler neck must use specific diameter of the filler nozzle, if its big, it wont fit inside...if too small, the nozzle wont push against the small plastic piece bside the filler door n it wont open causing u not being able to refuel...so far i only know the petronas station very near ingress auto can fit perfectly....i stay near segambut area...very problematic to go n purposely find the station that have the compatible nozzle laa...imagine when u r really low on fuel n need to refill very soon...

it happened to me also when i first did the refilling for my car, so my hubby called up the BMW, they told us to take the screw driver from the trunk, so that we can open up the hole for refilling, but i don't know how exactly, my hubby do the job for me :wink:
so far, i have found out 2 petrol stations with upgraded nozzles

1. Esso nearby One Utama
2. Shell opposite to Tmn Midah

really wish that all the sifu here can help us to find out more upgraded petrol stations and update here for the sake of the diesel car's drivers, thank you very very much!! :adore:

 

[nickyow]

referring to astro boy buying himself a E90 for xmas in 2007...i got my E90 on my birthday in 2007...extremely happy in 2007. Now every year on my birthday, gotta chalk up a handsome amount for insurance + road tax!!!

 

[glock_8]

referring to astro boy buying himself a E90 for xmas in 2007...i got my E90 on my birthday in 2007...extremely happy in 2007. Now every year on my birthday, gotta chalk up a handsome amount for insurance + road tax!!!

hahahhaa...thats funny

 

[astroboy]

referring to astro boy buying himself a E90 for xmas in 2007...i got my E90 on my birthday in 2007...extremely happy in 2007. Now every year on my birthday, gotta chalk up a handsome amount for insurance + road tax!!!

Simple, try to tell more people, then perhaps in all your future birthdays, u get a roadtax nicely wrapped in the gift box.. :wink:

 

[nickyow]

astroboy, u r hoping for that for ur xmas present???

 

[Ennui78]

Simple, try to tell more people, then perhaps in all your future birthdays, u get a roadtax nicely wrapped in the gift box.. :wink:

Tell 'em to throw in the Insurance Cover Note with that too.....

 

[nickyow]

ok guys...this may sound stupid, but m actually 'considering' selling my 2007 E90 for a 320d...pre-registered...emm, no push factor, jst that i saw the car and fell in love...and that power! but...any advice?!