What is a fair demand for my uninsured/underinsured claim?

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PostPosted: Mon Jul 22, 2013 10:31 pm   Post subject:   

Quote:
It was a hit and run accident so I'm dealing with my own Insurance company.
Okay, I understand now. But same thing. They are acting as the other carrier.



Forget how much was paid and how much is owed... and I'm still confused:

Quote:
The total billed medical expenses were $27k for everything
Quote:
after negotiated rates were like $20,000 ($10k MedPay + $6.5k Health + $3,500 owed = $20k).




The amount keeps going between $27k and $20k. Through out the crazy number yhe medical providers billed.... what was considered reasonable by your med pay and health carrier? Add that in with your out of pocket amount. So you get $20k? If so, forget that $27k number... it's meaningless.



If the above is correct then your actual loss is $20k in meds plus $3k in loss wages for a total of $23k. Your carrier offered you $33k, or an additional $10k in pain and suffering.
tcope
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PostPosted: Tue Jul 23, 2013 12:43 pm   Post subject:   

Essentially yes, but they offered $33k in new money (after MedPay) so an additional $20k for pain and suffering. Given that do you feel the offer is fair. If not what are my next steps other than legal action?

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PostPosted: Tue Jul 23, 2013 12:59 pm   Post subject:   

Quote:
Essentially yes, but they offered $33k in new money
It may not be new money.



I can't speak specifically for your state but usually how it works is in court your total medical bills are considered. That is, they are told that you has $27k in medical expenses when they decide what you should be paid. If they use that number do you really think someone would only give you $33k? I doubt it. Let's just pick a reasonable number and say they would award you $40k. From what you posted it does not sound like your carrier has a right to subrogation for what they paid out under Med Pay. You can ask the adjuster who handled the Med Pay (it should be a different person but may not be) if they will seek recovery or not. The UM adjuster may like to think he/she gets to take an offset for what was considered under MP but I'm betting they don't. Again, the main part to remember is that a jury probably does not get to hear that your MP paid $10k. They should be under the impression that you need to pay $27k in medical expenses when determining what you should be awarded.



If the above is correct then you need to go to the UM adjuster and perhaps even point this out when explaining that their offer is _way_ too low.



Keep this in mind.... _you_ paid a premium to your carrier for that $10k in MP coverage. _You_ paid a premium for that UM coverage. So your carrier got paid for both of those coverage. So don't feel bad about them paying out twice.
tcope
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