Fair settlement demand for auto accident

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PostPosted: Thu May 31, 2012 10:12 pm   Post subject:   

I was in a turn lane about to enter onto a highway, I was stopped to allow traffic to clear, I was rear ended with minor damage to the vehicle, at the time I had no real problems neither did my wife who was in the vehicle with me, we exchanged information and I went home, on the drive the car (2003 ford mustang) was pulling to the right, a few hours later I got dizzy felt like I was going to vomit my neck and shoulders were sore and hurt, my wife the same way. I called and made an appointment with my PCP and also am in with my wife physical therapy for whip lash, as is my wife. Both drivers have the same insurance company Farmers. Our medical is not that much around 2000.00 for the both of us. We are both disabled and draw SSDI not from the accident so no lost wages. Any clue as to what a reasonable settlement would be.

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PostPosted: Fri Jun 01, 2012 3:59 am   Post subject:   

Unfortunately, no one here can answer that question for you. Until your medical treatments are concluded, you are like a taxi meter, running up the charges. You are entitled to 100% of those expenses . . . BUT! . . . if any of those expenses are/were being paid by your health insurance, whatever you recover from the at-fault party is owed back to your health insurance company.



So just make sure that whatever you are going to settle for covers all of the health care expenses (including any related physical therapy expenses) 100%. Check with Medicare or your health insurance company to know for sure what you owe them (if anything). You have to let them know if you are going to recover anything from someone else, and they have to tell you what you owe them.



If you're a Medicare beneficiary, and Medicare is paying those expenses, you would owe the money back to them, too. Medicare is far less likely to accept a reduction in their recovery than a commercial insurance company because the Social Security Administration has the ability to literally cut off a large portion of your SSDI payments in order to repay what is owed to Medicare for a third-party loss.



Any amount you receive for "general damages" -- the pain and suffering stuff -- can also be attacked by Medicare or your commercial health insurance company toward recovery of 100% of your Medicare / insurance-paid health care expenses resulting from the accident if you fail to settle for the correct amount of medical expenses.



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PostPosted: Sat Jun 16, 2012 9:16 pm   Post subject:   

i was stopped at a red light a lady going the opposite way hit the car infront of me on the tail end of the drivers side and hit me head on pushing me into the car behind me. i was taken to the er my emt. i am suffering back pain, neck pain, knee pain. i can not take care of my children because of the pain i am in. i have missed school due to the pain. i have not been able to be intamint with my husband as well. i have nerve problems, i cant stop shacking. i am so scared to drive or to be stopped at a red light. they have not made contact with the other party yet. what do you think will be my recovery?


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PostPosted: Sun Jun 17, 2012 5:37 am   Post subject:   

Quote:
what do you think will be my recovery?


You are entitled to 100% of your documented damages: "Special/Specific" damages are those with a dollar sign attached . . . medical expenses, lost time from work, repair of your vehicle.



What you probably are asking about are "General" damages . . . pain and suffering, loss of consortium, psychological trauma. And, unfortunately, no one here can tell you what that is worth.



You will have to negotiate those damages directly with the at fault party or their insurance company. You don't need an attorney to do that, and you don't need an attorney until the negotiations reach a stalemate with no resolution to the matter. You cannot let negotiations drag on forever, because there is a "statute of limitations" on the time from the date of the collision to the time you file a lawsuit -- from 1 to 3 years in most states, but 5 or more in a couple.



Once you involve an attorney, however, the insurance company will no longer talk to you, and expect that your attorney will probably walk away with more $$ than you, unless you can get him/her to file for attorney's fees and expenses in addition to your damages (many won't do that), because what they are awarded may be less than what a 30%-45% contingency fee would bring in.


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PostPosted: Sun Jul 08, 2012 12:13 am   Post subject: Claim  

Always ask for the at fault's policy limit before you make your claim. It is your right. Dont involve an attorney because at the end it will be just couple of hundreds from what they last offered you.


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PostPosted: Wed Nov 28, 2012 2:15 am   Post subject: Rear-end by semi  

Rear-ended by semi while at work. Minor injurys and back to work 1 and a half months later. Medical bills paid and was paid while off. I'm 32 and the large trucking company offered me personally $7000. Looking around on net between settlements with lawyers and the settlement calculators that seems low. I haven't the slightest idea if that is fair or not.


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PostPosted: Wed Nov 28, 2012 4:43 pm   Post subject:   

Quote:
I haven't the slightest idea if [$7000] is fair or not.


Of course you do, or you wouldn't be asking your question. You don't think it's "fair" and you want a second opinion. Nothing wrong with that.



Quote:
settlement calculators


These are utterly worthless. No court or jury uses them, so why should you? They are gimmicks devised by lawyers to get you to bring them your case. They write a couple of letters (probably already in the computer, just have to insert names and dates), and collect the contingency fee worth about $1000 to $2000 per hour -- about 5 to 10 times what a court would allow as hourly legal fees.



You are involved in a game of chicken. The insurance company is offering what it thinks is a substantial amount of money -- enough to make you and your claim go into the CLOSED CLAIMS file. Unless you have a permanent disability or disfigurement, your matter isn't worth much more than about $10,000 for "pain and suffering", if even that much.



If $7,000 is not enough to make you happy, you can ask for more . . . as much as your heart desires. But eventually, you and the insurance company will do one of two things: (1) agree on a value that is reasonable to all concerned and settle the matter, or (2) agree to disagree, in which case you have nothing in hand and the insurance company is done making offers to you for the time being.



If you fail to reach a settlement, you would have to file a civil suit in order to have a chance of obtaining a judgment for a higher amount than the insurance company was offering. No matter what any attorney tells you, there is no guarantee that you would win a larger amount, and there is always a possibility that you wouldn't win a dime -- the answer probably lies somewhere in the middle. That's the risk of going to court. Worse odds, actually, than red or black on the roolette wheel, because if you win the bet in court, your attorney claims a large share of the winnings. You certainly wouldn't give him 40% of an "even money" bet like RED or BLACK, would you?



Unless you are a highly skilled personal injury attorney, you will need one of those to take your case to trial (even though your small potatoes case would probably never see the inside of a courtroom). For the privilege of getting you a "fair" settlement from the insurance company, the attorney will take -- right off the top -- 30% to 40% (or more) of your settlement (plus court costs and some other fees which, together, could be in the range of $500-$1,000).



So do the math. The insurance company today has put $7,000 on the table. With an attorney, you would have to settle for at least $11,500 to end up with the same $7000 NET (or a little more) in your pocket. Your case is not worth millions of dollars. It might not even be worth $10,000. That's for you to decide.



If you think it's worth $10,000 to make this all go away, then ask for $15,000. Expect the insurance company to offer less. If they offer $10,000, consider yourself fortunate and take the offer, agreeing to drop any future claims for this incident. You will have done better than an attorney would do for you in this case.



If you were to hire an attorney with a 33% to 40% contingency fee, and he negotiates a "fair settlement" of $10,000, you will end up with less than $6,000 NET. You already have an offer that's at least 16.67% higher than that on the table, so, from my perspective, hiring an attorney at this point is a waste of your time and money.



But feel free to do as you please.


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PostPosted: Thu Dec 06, 2012 5:21 pm   Post subject:   

i got a letter in the mail from my attorney and it said my demand will be coming in 30-45 days what does that mean???


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PostPosted: Sat Jan 05, 2013 4:31 am   Post subject:   

I was in a car accident two days ago. I was at a very busy intersection and went thru a yellow light because I did not have time to stop. The other vehicle was making a left hand turn and obviously ran the red light or was already going and her light turned green and I was still in the intersection. She admitted she was not paying attention and she did not even see me.

I was a little distraut at the time but did not feel as if I sustained any injuries.( I am a 42 year old male with no prior back or neck injuries. I live in Louisville, Ky.) The next night I began to get a horrible headache and my neck and lower back is hurting really bad. My neck being the worse.

I have a family doc and do not want to go to the emergency room, and did not at the time of the accident, because I did not feel I had any type of injuries that were an emergency. I do think I need medical attention and I do not feel like I will be able to go to work until the pain resides due to the labor intensity at work.

What do I do from here? When I spoke to my insurance company the day following the accident I was honest in telling them I am fine however now I am not. So what do I do at this point? Should I call them and let them know my current condition or just go to the doctor and keep everything documented?

That you in advance for your time and your advice.



Ermin

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PostPosted: Sat Jan 05, 2013 6:06 am   Post subject:   

See below.



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PostPosted: Sun Jan 06, 2013 7:36 pm   Post subject:   

Anything documented at this late date will be suspect. You are free to submit any claim you would care to, but now it wlll be examined with an eye toward insurance fraud.



Why? Imagine what some folks actually attempt. I wasn't hurt in the auto accident, but a few days later I slipped and fell in the shower and my back hurts. I'll tell the insurance company it's a delayed response from the accident, and they'll pay me for it.



I'm just saying . . .



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PostPosted: Tue Jan 15, 2013 6:28 pm   Post subject: I need done suggestions please  

I had a car accident October 2011.  The fire truck backed into the front if my car while I was in there with my two babies.  It damaged the entire front of my vehicles and my pain is unbearable with my bank Neck and head after all this time I'm experiencing difficulty with my pain and wasn't compensated for my injury.  The police had issues three tickets but they were all dismissed in court.  I had a lawyer but he said that he can't do anything for me.  Could you please give me some suggestions please?? Thank you for looking into my matter.  


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PostPosted: Wed Jan 16, 2013 3:11 am   Post subject:   

Given the fact that the accident was fifteen months ago, you should be aware of the statute of limitations (i.e. the deadline to file suit). Normally two years in most states, it is sometimes shorter when dealing with governmental agencies. Since a fire truck struck you, it might very well fall into the shorter category. If you do not trust the advice of your attorney, you can contact the local bar association and get a second opinion consult with another attorney. Alternatively, you could ask your own attorney for a better explanation about the merits of your case.



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PostPosted: Tue Apr 30, 2013 6:09 am   Post subject: rearended  

I was rearended which it cause a front end collision into a ditch. I have had 2 neck fusions, a shoulder surgery, and a hysterectomy all over two years ago. I am now having a great deal of pain in my shoulder, neck, and now lower back pain (horrible lower back pain) . Should i bfe worried about getting my medical bills pain and a settlement for pain and suffering.


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PostPosted: Wed May 01, 2013 12:36 pm   Post subject:   

Seems like you're in a pretty tough situation. Well, you've got to show proof of medical verification else it's difficult to prove who suffered in the accident actually.

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