Car wreck, dealing with insurance company, what to do now?

Question

I was in a car accident; a girl ran a red light and hit me in the side. I was taken to the hospital with some minor injuries and my car was totaled. (Note: I only had liability insurance, so I have to deal with the other person's insurance company myself.) So far I have given a statement to their insurance company about the crash and my injuries, and they have inspected the car and given an offer for the car ($2,780). The offer is about $800 less than what the car should reasonably be worth. They've already taken the car off of the tow-lot but I've not signed over the deed to it yet or accepted their offer. I've also not yet signed a medical authorization form to let them see my medical bills/record. I expect I will get some money for my injuries, pain and suffering, but I don't expect a whole lot. What is my best option at this point to try and get a better deal? Is it too late to retain an attorney? Would it be worth it?

Answer 1

You don't have to accept their offer, you can actually tell them it isn't good enough.  Before doing this, do a full blue book check (mileage and all) to see what it is valued at.  You need to have realistic figures in mind.

Answer 2

OK, this is an excellent question and being related to my key interests (law & insurance), I'll be sure to provide you with a great answer. First off, Pain and Suffering... NOT EXISTENT. There is no money you'll get from it. You must view the blue book depreciated value for your car before you decide on how reasonable the price is. The $800 hit is a big deal, but when it comes to retaining an attorney at $1000 or even a TV attorney (no payment unless you win) you won't benefit. It is a hard hit, but you may just have to take it. Take the car money you have and put a down payment on a new automobile, or craig's list it and buy something affordable. Medical expenses wise, this is where you shouldn't stop until they pay the whole bill. Medical expenses DON'T depreciate so you shouldn't let them treat you like they will. If you lose out on a hundred dollars or so, then take it, but if the damage will truly affect what you do or what you can do, then pursue it to the fullest extent.

Hopefully you find this info helpful.

Good luck.

Answer 3

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Answer 4

Your not at fault and since you have not signed anything or accepted their terms, make your own counter offer and let them know that you will be retaining a lawyer if they don't accept it

Answer 5

As far as the total loss car goes -- until you sign the title over to them, you are still the owner of the car.  

It was smart of you to let them move the car. All they did is take it from the tow yard (which charges storage per day) to the salvage facility (that does not charge storage). Since you have not signed the title over to them -- they can't do anything with the wrecked car. But the storage charges are stopped.

Had you not let them move the wrecked car -- they would have sent a letter to you (and the tow yard) advising that they were not going to be responsible for any more storage fees and the storage fees would now be your responsibility from this date on.  Storage fees in my area are 25.00 per day. You see how that can get expensive quick!  

All letting them move the car did - is stop the storage fees but you did not lose any leverage in the negotiation.

Since we don't know anything about your car -- can't tell you if the offer is good or not.

I will tell you this -- Ignore Kelley Blue Book. That is not the industry standard and the values tend to be inflated. If you read the fine print - it says that the value is a suggested starting point for negotiation and not what the car could sell for. The value includes advertising, sales commissions, warranty etc--- and that junk has nothing to do with the value of your car.

If you are checking a book -- the NADA (National Automobile Dealers Association) is the industry standard. This is the one used by insurance companies and banks.

Now -- the book value will need to be adjusted for the condition of your car. If the tires are worn out and need to be replaced -- that's going to reduce the value. NADA retail value assumes good tires. But, if you just put the tires on and can give them a copy of the receipt -- it could add a little value (not the full cost of the tires - but could help).

Some insurance companies use a market survey program- such as CCC or Total Logic. If they used this -- ask them to send you a copy of it. You can review it yourself. Once you settle CCC has a free service where you can call the 800# and give them the valuation number and they will help you find a replacement vehicle.

As far as the injury goes -- with the privacy act, insurance companies have to have written permission to get copies of the bills and records from the dr's who treated you. That's all a medical authorization is.

In order to settle your injury claim -- they have to have copies of the bills and medical records. They have to know what kind of injury you had, what the diagnostic tests showed, what’s the prognosis and how much it all cost. That’s what the bills and records will tell them.

If you want to -- you can go to each provider and pick up copies of the bills and records yourself. You will have to pay photocopy charges. But, many companies will accept the bills and records you pick up if it’s not a big claim -- and you do not alter the records or leave anything out.

Getting a medical authorization just allows me to do it instead of you.  Getting bills/records can be a hassle.

As far as lawyer goes-- an attorney is going to take 1/3 to 1/2 of any settlement you get as his fee.  

The insurance company will value your injury claim based on the injury itself. Getting a lawyer does not make your injury worse than it was. Getting a lawyer does not make your claim worth more-- just means there is one more person that gets a slice of your pie.

Usually - your best bet is to work directly with the insurance adjuster. If it's not a big claim -- and it sounds like yours is not-- then there is no reason to get a lawyer and there is a good chance you end up with more money b/c that's one less person to get a cut.

If, at any time, negotiations break down - you can go get a lawyer then. But give working with the adjuster a shot.

Also -- if you have a question -ask it. Most adjusters (especially the good ones) are willing to explain the process to you step by step as you go through it.  If you want - you can always check anything the adjuster tells you with your agent or an adjuster with your companies claim department. Most state insurance departments have a consumer number where you can ask question too.

(There is no federal regulation of insurance -- it's all done at the state level. So the state insurance department is the highest regulatory body for insurance companies).

Hope this helped.

Answer 6

your car is the fair market value.  it is NOT the blue book.  The insurance company will evaluate the car to include all types of things, tires, headliner, glass, paint, interior, prior dmg, mileage and so forth.  NADA KBB and so on does not do this.  this is also a retail value and considers dealer preps and so forth.  You need to do your homework to get more money from them on the vehicle.  This is also  separate from your injury claim and i'll get to that in a minute.  Go over the evaluation with your adjuster.  Have them send you a copy of it.  They should be able to find a comprable priced vehicle in your area for what they are quoting you. It may not be the exact same but comperable is what they owe  for.  Most people do not look at their vehicle objectively and feel there vehicle is worth a lot more than what it really is.

As far as your injuries.  They will evaluate your injuries based on the injury itself, your age, type of injury, vehicle damages and such.  A medical authorization is needed so  the  adjuster can order your records as it relates to your injury and also to get itemized bills.  A billing statement is not a bill.  There will probably not be a settlement until this is done.  this is standard procedure.

It's never too  late to get an attorney, however remember he will take 1/3 of whatever the settlement is.  This is BEFORE any medical bills are  paid.  So you may want to think about this.  Do  the math to see if it's  worth your while.  Attorneys  also tend  to drag things on for a while as well.  But yes, it is your option.

I hope this helps and good luck

Answer 7

Retain an attorney and do not make any more statements to her insurance company. Some attorneys won't charge unless you get a settlement.  

Answer 8

So far everything done is standard procedure. Be aware that Kelly Blue Book is used by auto dealers and NOT a valid guide of the value of your car, however, if you want to do a market survey just locate as many vehicles for sale in your area (50 miles) as close to yours as possible with similar mileage, condition and options. Keep a list of all the contact numbers and prices and determine a mean average selling price. If indeed it appears the insurance company isn't offering enough just tell the adjuster and offer to fax the list to him/her. This is a no-brainer for them as they owe you the ACV(actual cash value) of the car and if you can prove it is more they will pay it. Keep an open mind about all this -- there is always the possibility that there is a legitimate reason for the value they offered. Warning: if you hire a lawyer you will have to give-up 1/3 of your settlement. Despite what him/her/it will try and tell you they CANNOT get you thousands of dollars above their original offer and they NEVER, EVER work for you. This will become a nightmare once you retain one of these snot-balls and you will regret it. besides, you can always hire one later if you feel the need. Give the insurer a chance -- there is no advantage at all in not making a fair settlement so don't go in thinking they are determined to s***w you.