by mommynurse04 » Tue Aug 14, 2012 10:17 pm
I am trying to find some guidance in making sure I get a fair settlement following an accident with a tractor trailer. Long story short, he rear ended us during a heavy rain on the interstate in Florida while returning home from vacation.The trailer jack knifed and came loose from the cab. We were hit by the cab, then the trailer hit us, partially crushing the back of my suv and the cab then hit the side of my car as well. Fortunately, myself, my husband and my four children survived with only a swollen ankle for me and a sore back for him. We all went to see our family doctors-he and I were treated for soft tissue swelling and the kids are okay. That is the physical part-emotionally is a different story. I was driving and am now an emotional wreck when it comes to driving on the interstate or driving in the rain. I have been having nightmares as have the children. This is the main memory that my kids have of a week vacation. My son has aspergers which makes him obsess over things-like car accidents. In addition, we have now had to buy a new vehicle to replace ours which was totalled- this is a financial hardship in that our other vehicle was almost paid off. I am stressed from dealing with insurance adjusters while trying to maintain a full time job as my husband is currently unemployed. We have all suffered mental anguish on many different levels. We have settled the total loss on our vehicle as well as property loss. Now it is time to try to settle the "pain and suffering". Without physical injury, I am not wanting to be a gold digger, but feel that we should be compensated. Any guidelines or suggestions?
Posted: Wed Aug 15, 2012 01:29 am Post Subject:
In addition, we have now had to buy a new vehicle to replace ours which was totalled- this is a financial hardship in that our other vehicle was almost paid off.
Lets start with this... you were paid the value of the vehicle. How much you paid the bank, for how long and how much you owed is not relevant. You were paid in full for what you lost.
We have all suffered mental anguish on many different levels.
Have you or your family members sought any treatment for these over-whelming conditions that are so difficult to deal with and were life changing? Your claim is worth what you can show either a judge or a jury.
With that said, I think you may have a case for emotional distress as I think it flies in FL. My recommendation is to come up with demand amounts for each person that you feel you can live with. You may want to ask for more then those amounts and come down to the amount you feel you should get.
Posted: Wed Aug 15, 2012 03:53 am Post Subject:
am now an emotional wreck when it comes to driving on the interstate or driving in the rain. I have been having nightmares as have the children.
While completely understandable, unless you have this diagnosed and treated by an MD (not a chiropractor), your diagnosis is mostly meaningless in a court of law. The insurance company will not offer anything of substance based on your word alone.
Sure, you could get a sympathetic judge and/or jury, but hard evidence can avoid having to go to court in the first place. That's far better for you because you won't have to share 30%-40% of your award with an attorney unless you choose to.
As tcope has said, as far as the payment for your total loss, that comes irrespective of your situation with the bank. An insurance contract only promises ACTUAL CASH VALUE which is replacement cost minus depreciation. That may or may not provide enough money to pay off the bank and leave enough for a substantial down payment. But that's not what your insurance is intended to do.
Insurance restores you to the financial condition you were in the moment prior to the loss. Assume your depreciated vehicle was worth $10,000. Your insurance company writes you a check for $10,000 minus your deductible -- the other party's insurance company would write the check for the full $10,000 amount (you would have to claim the deductible from the other insurance company or driver, or sue in small claims court to recover it). That puts you back in the same financial condition -- you don't have a vehicle, but you have its value in hand.
Your depreciated vehicle might still be worth a couple of thousand dollars to your bank, and they have a contract with you to pay the whole loan amount plus interest over time. As the legal owner of the vehicle, that check for $10,000 is really supposed to be made out to them, too. That way they can extinguish your loan and give you the balance. You remain in the same financial condition. Your $10,000 vehicle with a $3,000 loan balance is only worth $7,000 to you. With your $7,000 in hand, you have been fully "indemnified" -- restored in full according to the terms of both your insurance and loan contracts.
What can you do with $7,000? Whatever you want. Use it to buy a $7,000 car while you save $30,000 for the next one you buy and pay cash for. Or make a $7,000 (or smaller) down payment on another vehicle and borrow money to pay for the balance. Your choice.
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