Well, I hope the Insurance company realizes that they could have gotten out of this cheaper if they would have just settled with me to begin with. Now they have to deal with lawyers, paper work, filing, etc.
Claims adjuster here with 15 years exp. Don't do auto anymore only homeowner's. Right now nothing but Katrina/Rita claims.
The advice I give is worth what you paid for it.
When I worked auto bodily injury the rule of thumb was try to settle the claim for 3x the specials (meds, lost wages, etc.) or less. So in your case 3 x 9,000 or 27,000. The extra 18,000 is for pain and suffering, scarring, etc. The insurance co. is in no hurry to settle the claim. Alot of times they will try to outlast you so you give up and accept the low ball offer.
I have started off with an offer of 10,000 and settle for 50,000 or higher. I have also worked claims where 50,000 would be reasonable and they agreed to 10,000. Go figure. Thats why I hate auto claims and no longer work them.
Good luck.
No payment will be issued until you sign a release form.
The advice I give is worth what you paid for it.
When I worked auto bodily injury the rule of thumb was try to settle the claim for 3x the specials (meds, lost wages, etc.) or less. So in your case 3 x 9,000 or 27,000. The extra 18,000 is for pain and suffering, scarring, etc. The insurance co. is in no hurry to settle the claim. Alot of times they will try to outlast you so you give up and accept the low ball offer.
I have started off with an offer of 10,000 and settle for 50,000 or higher. I have also worked claims where 50,000 would be reasonable and they agreed to 10,000. Go figure. Thats why I hate auto claims and no longer work them.
Good luck.
No payment will be issued until you sign a release form.
Well, they are evaling me as a soft tissue injury, the medical records, as in mri and xrays, show seperated shoulder and herniated disk between c5 and c6. this has lead to numbness and tingling in my fingers and pain down my arms, sometimes so bad that I have scared my family into thinking I am having heart attack.
Originally posted by: Citrix
Originally posted by: MrChad
So the insurance company is willing to compensate you for lost wages + medical costs + an additional $1000? Am I missing something here?
i guess i missed it too.
Is $1000 worth it to potentially have permanent physical injuries? What about future medical costs, hospitals, doctors, rehab, etc.
Obviously there is no $ amount one can give to compensate for these kinds of injuries, but surely $1K ain't enough.
Yeah if I only had a broken arm, sure $1k would be fine....but what Ulfwald says he has sounds much worse than that.
Good luck Ulf, hope you get what you deserve.
Bottom line 10,000 is to low. Your specials are 9,000. Reasonable settlement value is around 27,000.
You already stated you were willing to settle for 20,000.
If you get an attorney and he settles for 27,000 you net 18,000 after he takes his 33%.
I would stick to your orginal demand of $20,000 for a couple a more months before getting a atty.
An atty will drag this claim on for 6 months or more. All they do is send a few letters and make a few phone calls. They delay the settlement so it appears they have alot of time in the file to justify there cut of 9,000 in this case. In reality they may only have 8 hours invested in your case.
You already stated you were willing to settle for 20,000.
If you get an attorney and he settles for 27,000 you net 18,000 after he takes his 33%.
I would stick to your orginal demand of $20,000 for a couple a more months before getting a atty.
An atty will drag this claim on for 6 months or more. All they do is send a few letters and make a few phone calls. They delay the settlement so it appears they have alot of time in the file to justify there cut of 9,000 in this case. In reality they may only have 8 hours invested in your case.
Actually, the at fault party has a 100,000.00 limit on his policy, so we are making our initial demand for this. I have already sent my letter stating I am recinding all my initial offers to settle and from now on my atty will be handling negotiations.
This has been going on now for almost a year. I am ready for it to be over with.
This has been going on now for almost a year. I am ready for it to be over with.
Sounds like you already made up your mind. Probably a good choice since its already been a year.
Make sure you settle the property damage for your auto before you retain an atty. You don't want the atty to get a cut of your car settlement.
Make sure you settle the property damage for your auto before you retain an atty. You don't want the atty to get a cut of your car settlement.
the car has already been settled and paid off. Now I just need to fry the at fault insurance party. Thing is, where the guy lives, the juries there are very plaintiff friendly
It will never go to court so jury is non factor. It will settle but will take some time.
Good luck with your med problems and settlement.
Good luck with your med problems and settlement.
Weadjust, let me ask you this,
If I were your "victim", and I told you that for 15K that I would disappear, and your company would never hear from me again, no atty involvement, would you not settle it?
If I were your "victim", and I told you that for 15K that I would disappear, and your company would never hear from me again, no atty involvement, would you not settle it?
I'm a independent adjuster so I don't have settlement authority.
Based on the facts you have provided I would recommend to the ins. carrier to settle for the aboved referenced 15K. However most ins. co. would probably tell me to counter with 12.5 based on the previous offer of 10K.
So the game would continue. So you see why I don't like doing auto. On the upside my bill keeps geting higher.
Based on the facts you have provided I would recommend to the ins. carrier to settle for the aboved referenced 15K. However most ins. co. would probably tell me to counter with 12.5 based on the previous offer of 10K.
So the game would continue. So you see why I don't like doing auto. On the upside my bill keeps geting higher.
agree. no reason to limit yourself to the drivers inadequate policy.
you are likely to be hurting for the rest of your life.... to me, that's worth WAY more than $100,000. Their offer seems to be relative (low ball) to the pain and suffering you HAVE suffered... not the pain and suffering you WILL suffer.
lawer up... ask for $1,000,000... settle for 300-500k.
if the guy has a house.... now YOU have a house....
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