Obscure Question

[Brett Kirby]

Hi all



Does anyone out there have any experience with settlements from insurance companies after an accident ????



I just received a settlement proposal for an accident I was involved in ( I was rear-ended at a red light ) and it seems real low.



Any help would be great. Thanks



Limey

 

[Dale Carlson]

Is it a settlement from your insurance or the other guy's insurance?

 

[Brett Kirby]

This is a settlement from the other guys insurance company.



They have accepted full responsibility for the accident.

 

[Thomas Rogers]

Limey, if they accepted full responsibility then what part of the settlement proposal seems low?



What I mean by that is that you should (or they) should have had at least two different adjusters look at the damage to your vehicle and estimated the cost for repairs.



The only other thing that might be included in the proposal is any reimbursement of hospital or other medical expenses that you should have supplied to them.



So, if you supplied everything, then either your insurance companies adjuster or their's did the estimations, and either way, you can always get another opinion.



Whose adjuster did the estimation?



TJR

 

[Bart Adkins]

I'd say, if the settlement takes care of the damage to your vehicle and medical expenses (if any) take it. It works out a lot faster that way.

 

[Casey B]

I took the initiative to get an estimate in advance. Other insurance company sent an appraiser out who looked at it. He was known by the body shop and they basically use the same software for estimates. Appraisers was slightly lower but the body shop honored it. Insurance company wrote check.

 

[Scott Heckler]

Don't sign anything! By signing you agree with what they are giving you. If you think it is too low, it most likely is. They are trying to get you to settle.

 

[Todd Z]

Most people I knew that had minor injuries got offers of about 10K from the companies...



Everyone took the settlement..



Todd Z

 

[Scott Heckler]

If no one was hurt and it's just your vehicle then get what you need to repair it. If someone was hurt then that changes things. You have to protect the people who were hurt.

I was hurt when a UPS truck decided they wanted both lanes one snowy night. I had to do the lawyer thing and go to therapy etc. The medical bills were paid and my car was also totaled. (that's why I now have a trac!) I did not make a killing. I ended up with a small down payment on the Trac.

 

[Dale Paris]

most ins will settle for 3x your out of pocket expenses. w/o going ot a lawyer.

 

[douglas brandin 2]

I'm about to be in the same situation. I was rear-ended on Dec 12. His ins fixed my truck and furnished me with a rental truck. I have had about $2000 worth of therapy and about $200 in dr. bills. I have yet to receive an offer. A lawyer told me if the offer was not sufficient (enough to pay my bills and some compensation for pain and inconvenience) then to file in small claims court. ($60) and expect to get about $5000.........doug