Starting the settlement process

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Posted: Fri Jan 22, 2010 5:48 pm Post subject: Starting the settlement process

was involved in an auto accident a few months ago and the at fault driver admitted fault. No tickets were issued, but my vehicle sustained $9,200 in damages. My Land Rover was in the body shop for almost 2 months because the parts took a long time to arrive and it sustained suspension damage. I will be taking my vehcile to the Land Rover dealership next week to have them appraise the value of my car post body shop repair. I plan to seek 3rd party diminished value. My medical bills total $5300 (medpay--no subrogration). I was treated for a muscle strain in my right arm, headaches & muscle spasms in my back and neck and referred to physical therapy by my medical doctor. I've been on prescription pain medicine for the last 2.5 months. My lost wages from work total $951.00. I'm done treating and I am trying to figure out how to calculate the value of my claim? I found a website that uses The BASE (Baldyga Auto Accident Settlement Evaluation) Formula. It adds up your medical bills, lost wages, rental car, and auto repair bill and uses these figures to place a value on your claim. Here are my figures: Medical Bills $5300; Rental Car $2700; Auto Repair: $9200; Lost Wages: $951 I'm certain this is not accurate because its saying my claim is worth between $27,710- $45,447 _________________ Register Now to have your Insurance queries solved.

Jay

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Posted: Fri Jan 22, 2010 7:32 pm Post subject:

Quote:

I will be taking my vehcile to the Land Rover dealership next week to have them appraise the value of my car post body shop repair. I plan to seek 3rd party diminished value.

Do they have a body shop? Why didn't you just take it there in the first place? You will better off taking it someone who specializes in post repair inspections.

Quote:

I'm certain this is not accurate because its saying my claim is worth between $27,710- $45,447

Yeah that is way off.
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Register Now to have your Insurance queries solved.

Guest

Posted: Fri Jan 22, 2010 8:03 pm Post subject:

Jay, When you select your diminished value appraiser, it's important that the inspector or appraiser will be available to appear at a deposition in the state or area in which you live, should you decide to file suit. What state do you reside and was the accident in the same state? _________________ If you can't find the time to do it right, how will you ever find the time to do it over.

MikeoftheOzarks

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Joined: 10 Feb 2008
Posts: 595

Location: in the missouri ozarks
191.27 Dollars($)

Posted: Fri Jan 22, 2010 9:29 pm Post subject:

The dealership doesn't do appraisals but I was referred to an indepenedent inspector and they told me they would appear for a deposition. I'm located in VA. _________________ Register Now to have your Insurance queries solved.