HellBill » Hell Bill Area: » Help With Bills » We are fixing to settle with an insurance company. I was just wondering what we should ask for.

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  #1 (permalink)
: First of all we are in Texas. A lady ran a stop sign and totalled our truck. I am not familiar with this process and just want an idea of what is fair. My husband had a 2000 Ford F250 Diesel Super Cab in great condition but had 200,000 miles. He got it at a used dealership and the pay off on the truck is 6,000. He has a 1250 ER bill for glass in his eyes and missed one day of work. They agreed to pay the dr bill and the loss of wages, but only want to give us the pay off on the truck. We have 3500 in the truck over the payoff and just paid 400 to put a new clutch in. To those who are insurance savy what is a fair amount for us to ask. I know it is their job to try and get us to agree on the least amount possible in the beginning. If you know about insurance, cars, and this process please help me with some numbers I should ask for and reasoning (or laws) that could help me when talking to the insurance company. Thank You!!
sorry to confuse you, but in Texas fixing to is like saying going to

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  #2 (permalink)
: gooo to : Www.auto-insurance12.co.cc
read on second & third link
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more..
  #3 (permalink)
: The insurance is going to settle at bare minimum, you really should contact an attorney and have them help you. never go with first offer from insurance.
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  #4 (permalink)
: They should be paying way more than just $1250 in medical fees if your husband ended up with glass in his eyes. I'd suggest talking to a personal injury lawyer - they won't charge anything up front and will be able to let you know what you might be able to expect.

You're not going to get all your money from the truck, as they will only pay what it was worth the moment before it was totaled, regardless of how much you have put into it or how much you still owe on it (but definitely tell them you just put in a new clutch, how much it cost, etc), but you should be getting a good deal more on the personal injury side.
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  #5 (permalink)
: Call the lawyer guys on tv, they are ALWAYS telling you not to settle with the insurance company with out a lawyer. You could get a lot more. If you don't talk to one, start HIGH! $50,000.00. At least.
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  #6 (permalink)
: Fixing means to mend or repair. What does that have to do with anything?
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  #7 (permalink)
: You're owed the actual cash value (ACV) of the truck a split second before the accident, whatever that amount is. They should be able to provide you documentation on how they got to the number they are offering you for it. If the value they are coming up with is a little under $6k then they may just be offering the $6k payoff to get the claim to go away.

Any money you dumped into the truck in the form of maintenance, like the clutch, you won't get back on top of your settlement. Generally only a few items will actually add value to a vehicle. These would include a recent engine rebuild, a new convertible top, four brand-new tires, or a complete paint job. Everything else is pretty much the cost of owning a vehicle. You might get a bump on a truck for a bed cap or something like that but that sort of thing you can always take-off if you don't like the offer.

You should go on autotrader , ebay , craigslist.org, and other websites and find a few vehicles similar to yours. Account for differences in options & models and remember to take into account what a realistic selling price would be as opposed to an asking price. That truck is common enough you should be able to find comparable vehicles for it.

If you really don't like their offer then you can always turn around and give it to your own insurer to evaluate. With a loan on the truck I'd presume you are carrying collision insurance. (?) Your own insurer is required to handle this if you want them to. You can always see if they will give you a better offer.

As for the medical bills, eye injuries are one of those "special" injuries where the damage potential can be way out of proportion to the medical bills. That said, if they got the glass out, it's healed, and there's no permanent injury in the form of scratches on the cornea or anything then it's pretty much a "what's my aggravation worth" scenario. I'd speculate not much over the medicals. Ask yourself what you and a random group of people from your community would give somebody you don't know for having to spend a random afternoon at the ER getting glass removed form their eye with no lasting injury. I'd say a couple hundred maybe. Throw in the day's wages on top of that.
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  #8 (permalink)
: Has your Insurance Provider been informed of the accident?

When you obtaind coverage there is a binding agreement between the Agent, Provider and Insured.

The Agent reviews your needs and makes recommendations for your coverage.

The Provider, provides coverage and assists with handling claims.

You pay the premium to receive these services and your offer in the agreement is to also advise the Insurance company of any changes needing to be made to the coverage and report any claims immediately,

Your Insurance company then handles the claim on your behalf. Your Insurance provider may pay you in advance to get you back on the road and back to normal, but then has the right to Subrogate against the other.

If the person at fault does not carry adequate coverage, this is where your provider may pick-up excess expenses if you have the proper coverage. (Uninsured/Underinsured Motorist).

If you settle on your own without your Insurance company, they can and should wipe their hands of this. If you let them be involved they can assist with legal expenses as well.
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