Insurance Settlement Offer... Advice Needed

[CatherineM]

I can't think of a better way to compensate yourself for pain and suffering, and being in a wreck does lead to suffering, than by easing you concerns in another area of your life such as paying off debt. Anyone who has been in a bad wreck will tell you that there is no way to return you to the way you were before the wreck. You can get a new car, but you can't get that week back, you can't get the time back that you wasted trying to get a new car, dealing with the police, going to the doctor, and dealing with the insurance company. Most importantly, there is no way for any amount of money to sooth your nerves every time you hear screeching brakes, or when someone does a near miss or cuts you off. That shot of adrenaline and fear will be with you a long time. People who are worried you are being greedy must not have ever felt that.

[prose]

I don't think anyone intended to call him greedy.

I know I certainly didn't.

[rkwright]

[quote name='prose' post='1682739' date='Oct 21 2008, 03:50 PM']I don't think anyone intended to call him greedy.

I know I certainly didn't.[/quote]

I'm sorry if I came off that way. I certainly didn't mean to either. After all what is anyone going to do with pain and suffering money, pay the pain away?

Do what you can to get the best for you.

[dUSt]

I'm just saying don't go around saying "I would like this much to pay off my new car and credit card debt", because technically, that isn't within the scope of the insurance company's responsibility.

I don't know how you would monetarily value a week of missing school either, since you most likely got make-up work or something, right? How would an insurance company figure out a dollar value for that?

I would focus on past, present, and future medical expenses related to the injuries. That is tangible. I've never been a big believer in getting something in return for pain and suffering, but if you think you can put a dollar amount on that as well, only you can know what the fair value of that would be.

I think it's a little foolish to not even talk to a lawyer though. I don't like them either, but you should at least try. Lawyers and insurance companies have a working relationship, and an experienced lawyer can most likely tell you what he could negotiate without even having to go to trial.

[rkwright]

[quote name='dUSt' post='1682783' date='Oct 21 2008, 04:50 PM']I think it's a little foolish to not even talk to a lawyer though. [b]I don't like them either[/b], but you should at least try. There are relationships between lawyers and insurance companies, and a lawyer can most likely tell you what he could negotiate without even having to go to trial.[/quote]

Dust doesn't like us catherine!

[the_rev]

I did consult with a few lawyers awhile ago but have been waiting for the insurance company to make an offer. I'll probably call a lawyer just to get their consulation before I settle.

In regards to the education, each class I attend is X amount, because I missed so many classes, I would ask to be reimbursed for the education loss of tuition and room and board. They were classes I paid for but didn't receive the benefit of attending, I had a room at the college that I didn't stay in, I had a meal plan that I didn't eat off of, that's the expense.

Any compensation I receive in a settlement is for the accident, but I am looking at using the funds for XYZ.

I've said this before and I'll re-echo it, I'm not looking at getting rich quick, but am seeking just compensation, I am uncertain as to what that compensation is, hence my reason for asking. I will gladly settle for 5,000 but the people whom I've spoken with have told me that it is much too low and that I should counter their offer with a higher figure.

[CatherineM]

[quote name='rkwright' post='1682785' date='Oct 21 2008, 04:51 PM'] Dust doesn't like us catherine! [/quote]

I don't like lawyers either. Sure made law school interesting.

[prose]

Here is what I would suggest.

Sit back, write down all of the costs you have incurred. When you have that total, consider the level of pain you have had to endure. What is that worth to you? No, money won't fix it, but SOMETHING is owed to you for your suffering, so it might as well be monetary. Go to a doctor for a final evaluation. Get a professional, medical opinion about your outcome. Consider that in what you would think would be a fair offer.

Now, when all of this is added, you will know the amount that you will settle for.

In my hubby's case, he (well, his lawyer) simply refused the insurance company's offers until it was an amount we felt was acceptable.

[Guest Jon]

[size=3]" I still don't feel like I did before the accident...I was thinking about getting a lawyer...I'll have to get back to you...probably after I speak with a lawyer."

Those magic words should up their offer within 2 days.

But, you don't feel like you did before the accident...and you're thinking maybe you should talk to a lawyer.

"I think I may have to speak to a lawyer. I just still don't feel like I did before the accident."


Magic words.[/size]

[jkaands]

[quote name='prose' post='1682919' date='Oct 21 2008, 06:09 PM']Here is what I would suggest.

Sit back, write down all of the costs you have incurred. When you have that total, consider the level of pain you have had to endure. What is that worth to you? No, money won't fix it, but SOMETHING is owed to you for your suffering, so it might as well be monetary. Go to a doctor for a final evaluation. Get a professional, medical opinion about your outcome. Consider that in what you would think would be a fair offer.

Now, when all of this is added, you will know the amount that you will settle for.

In my hubby's case, he (well, his lawyer) simply refused the insurance company's offers until it was an amount we felt was acceptable.[/quote]

I agree.

I feel that you should consult a reputable personal injury lawyer. not the billboard type.

You were injured, possibly in ways you don't yet realize. Insurance Companies will always low-ball you. don't feel guilty. You have lost a lot and you can't afford it. You may need a real neurological consultation re the memory loss, MRI, etc, the works.

I say go for it. But I do think you should consult a lawyer. They have their uses, believe me.