Author Topic: accident settlements (Read 2212 times)

Rocking-M · « **on:** October 09, 2006, 04:50:13 PM »

My son was injured a year ago in a pretty bad wreck which was not his fault.
The other drivers insurance is finally ready to settle.
(It was a commercial policy.)
They have already paid all the current doctor bills.
I am sure he will have lingering issues the rest of his life.
We did not seek council and will not as long as we think they are
being fair and above board. AJ is now 23 so it is ultimately his decision
but he is open to our advice.

Has anyone had to deal with this in the past?
If so I'd like to discuss it with you by email if you don't mind.

seaweb11 · « **Reply #1 on:** October 09, 2006, 05:48:00 PM »

Get a lawyer!!!!!!!!! They have one, if not 10 working on their side.

m00ntan · « **Reply #2 on:** October 09, 2006, 06:25:13 PM »

Never, ever, ever ,ever, ever trust what an adjuster tells you. They are professionally employed to to ensure you are paid less than all similar claimants. They put it on their resume.

Bob Wessner · « **Reply #3 on:** October 09, 2006, 06:27:33 PM »

I neither agree nor disagree re: the lawyers. Just keep in mind, and evaluate their "take" (%) when they negotiate the settlement. In the end, the decision will have to be yours.

nickjtc · « **Reply #4 on:** October 09, 2006, 08:14:16 PM »

Quote from: Rocking-M on October 09, 2006, 04:50:13 PM

I am sure he will have lingering issues the rest of his life.

You need to have a good, strong, competent, caring professional team around you if this may be the case. A 'fair and above board' settlement now isn't much help in 20-30 years.

I wish you, and especially your son, all the best in this difficult time.

Jerry Rxman Griffin aka MuthaF'er · « **Reply #5 on:** October 09, 2006, 10:09:44 PM »

The guy that hit me head on was obviously on my side of the road and there were several witnesses. His adjuster asked him for permission to provide me with his insurance limits (100,000/300,00). I assumed this was an attempt to hopefully keep me from taking all his property and leaving his family homeless as well as eliminating court case costs which would have all been borne by his insurance company. Told them I'd be happy with a new bike and the limit. His carelessness wasn't intentional, just stupid. He had a wife and 5 young kids. My wife still had a husband and my daughter still had a father (albiet pretty broken and beat up). I did not want to ruin him. He thought he had killed me. That was justice in itself. Bike looks nice as does the bank account. Oh yeah, I didn't use an attorney. My patience was rewarded with 100% and not 70%. Hope all goes well.

ic455 · « **Reply #6 on:** October 09, 2006, 10:22:22 PM »

You mentioned that the insurance was a commercial policy; was this wreck involving a commercial motor vehicle, or just a business vehicle? At any rate, generally a Lawyer can help alot with a commercial insurance claim as there are things that the ins. company will not tell you.....
Obviously lawyers are going to get their cut of your settlement, but that's all the more reason for them to get you a good one!

Rocking-M · « **Reply #7 on:** October 10, 2006, 03:58:47 AM »

Quote from: ic455 on October 09, 2006, 10:22:22 PM

was this wreck involving a commercial motor vehicle, or just a business vehicle? At any rate, generally a Lawyer can help alot with a commercial insurance claim as there are things that the ins. company will not tell you.....
Obviously lawyers are going to get their cut of your settlement, but that's all the more reason for them to get you a good one!

Yes it involved a commercial motor vehicle. I have been told by a friend who has been through similar that 5 to 7 times the
medical bills is common. So far they have offered about 3 times the medical, but we are not losing the lawyer cut.
I would think that fair but down the road is what AJ needs to consider too! Maybe if the insurance company put
a fair sum in escrow for future medical expense related to his injuries it would be better. But, I suppose they'll want
a clear sign off on the settlement.

putnaja1 · « **Reply #8 on:** October 10, 2006, 07:14:06 AM »

Quote from: Rocking-M on October 10, 2006, 03:58:47 AM

Yes it involved a commercial motor vehicle. I have been told by a friend who has been through similar that 5 to 7 times the
medical bills is common. So far they have offered about 3 times the medical, but we are not losing the lawyer cut.
I would think that fair but down the road is what AJ needs to consider too! Maybe if the insurance company put
a fair sum in escrow for future medical expense related to his injuries it would be better. But, I suppose they'll want
a clear sign off on the settlement.

My guess is, they are being so "generous" with you because they know their goose is cooked if you get a lawyer. I'd get a lawyer personally- to CYA.

JP · « **Reply #9 on:** October 10, 2006, 09:38:13 AM »

My only reason for saying this is the Commercial vehicle setup.......Get a lawyer.

putnaja said it all with the last post. They are being "generous" because they know what they "could" be forced to pay. I just got done with a person to person accident and received around$110,000 AFTER the lawyers cut. I wouldn't even consider settling on a commercial case for less than a quarter mill, unless of course the only damage was stuff like broken bones or damaged joints . If you know their policy limmits, it would really help out. If there is any internal head dammage, you are almost garunteed full policy payout.

JP

ElCheapo · « **Reply #10 on:** October 10, 2006, 12:37:28 PM »

GET A LAWYER!

After that nothing more fun than spending all that money

I have done it a few times.

to the tune of $100,000

For ref: Ex-wives spend it faster than a eBay extravaganza

This is meant as the lighter side. I know first hand what it is to have a lingering injury that never goes away. Most see a swap meet, I see hell. Walking major distances on my foot just kills me. I had my right foot crushed in 15 places many years ago. I live with it everyday. It can be depressing at times. Not sure what to say at that. Long days have me limping.

Rocking-M · « **Reply #11 on:** October 10, 2006, 01:06:28 PM »

Thanks Y'all, they have offered the 1/4 mil. His injuries were both ankles shattered, right femur with a rod,
and a facial, nose plant in the steering wheel. No brain trauma. He'll have joint problems as El Cheepo has
for the rest of his life. Sounds like their being real fair.

mennedy · « **Reply #12 on:** October 10, 2006, 01:28:36 PM »

Enough people here have said lawyer.

Can I yell it?

LAWYER!

Unless of course you have in depth knowledge of and extensive experience with insurance law. Otherwise you are just making an uneducated guess and taking a perfect stranger's word (one paid by the insurer) for everything including the limits.

mb3000gt · « **Reply #13 on:** October 10, 2006, 02:19:48 PM »

Please reconsider and consult with a lawyer (it doesnt cost anything). The offer they made is very low considering the injuries and his age. while 250k may sound reasonable you have to consider that the rest of his life will be affected. You are simply not capable of determining what a "fair" amount is. I worked briefly in the personal injury field (i'm an IP attorney) and I know what insurance co's will do to settle. goodluck.

Rocking-M · « **Reply #14 on:** October 10, 2006, 05:07:35 PM »

Quote from: mb3000gt on October 10, 2006, 02:19:48 PM

Please reconsider and consult with a lawyer (it doesnt cost anything). The offer they made is very low considering the injuries and his age. while 250k may sound reasonable you have to consider that the rest of his life will be affected. You are simply not capable of determining what a "fair" amount is. I worked briefly in the personal injury field (i'm an IP attorney) and I know what insurance co's will do to settle. goodluck.

Thanks for the advice. I will run all this by AJ and will back him on his decision. I do agree, no telling what the next 10 years
will bring for him. I did consult with friend who has had much experience in this and his orginal estimate was that they should settle for
5 to 7 times his medical bills which came to 96k.

ic455 · « **Reply #15 on:** October 10, 2006, 06:18:59 PM »

Quote from: Rocking-M on October 10, 2006, 03:58:47 AM

Quote from: ic455 on October 09, 2006, 10:22:22 PM
was this wreck involving a commercial motor vehicle, or just a business vehicle? At any rate, generally a Lawyer can help alot with a commercial insurance claim as there are things that the ins. company will not tell you.....
Obviously lawyers are going to get their cut of your settlement, but that's all the more reason for them to get you a good one!

Yes it involved a commercial motor vehicle. I have been told by a friend who has been through similar that 5 to 7 times the
medical bills is common. So far they have offered about 3 times the medical, but we are not losing the lawyer cut.
I would think that fair but down the road is what AJ needs to consider too! Maybe if the insurance company put
a fair sum in escrow for future medical expense related to his injuries it would be better. But, I suppose they'll want
a clear sign off on the settlement.

Having been an OTR driver, (and I still drive straight trucks) I can tell you that if the commercial driver was found at fault (which he probably was) then you can clean up. I know I'll get some flack for saying so, but if this happened to be a tractor-trailer and therefore an OTR or local trucking company, you might be in for a surprise. There have been quite a few small companies go out of business in situations such as this, and I have no sympathy for them. If you run substandard equipment and try to "skirt" the laws and DOT regs then they deserve what they get. You'll probably never even enter a courtroom, but with a lawyer the settlement might be closer to 1/2 mil depending on the size of the commercial vehicle company and the nature of the accident. Faulty equipment? Driver error? Driver negligence?

I still have nothing but love for my trucking brethren, but only the ones who at least try to follow the damn rules!

Jerry Rxman Griffin aka MuthaF'er · « **Reply #16 on:** October 10, 2006, 06:54:23 PM »

How about the $250K in pocket and life time medical care for any condition possibly related to this accident.

ic455 · « **Reply #17 on:** October 10, 2006, 07:33:56 PM »

Quote from: RxmanGriff on October 10, 2006, 06:54:23 PM

How about the $250K in pocket and life time medical care for any condition possibly related to this accident.

Sounds pretty darn good....Call the medical care bit a "Medical Trust Fund"
You should really consider some kind of counsel if for nothing else than to help draw up papers to your liking. If one word or bit of punctuation is off, they can get out of any promises made.

Nate · « **Reply #18 on:** October 10, 2006, 07:43:30 PM »

Before you son signs with any lawyer keep in mind that he is in position to receive a settlement of at least $250k. Lawyers will negotiate their percentage, even more so in a situation like yours where the settlement is almost definate. Alot of lawyers will try to drop a contract with a 1/3 cut which is ridiculous, you can negotiate for a much lower rate.

Good luck to your son, hope his recovery comes along quickly and fully.

ChrisR · « **Reply #19 on:** October 11, 2006, 02:12:51 PM »

I know I am saying what others have said, but I'm sure it wouldn't hurt to talk to a lawyer - better still 2 or three - it might open up some other options or make you feel like you should just go with the offer you have. At least you'll have the information to make the decision on.
I'm sorry to hear about your son's injury and hope it works out well for you all.

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Author Topic: accident settlements (Read 2212 times)

Rocking-M

Rocking-M

JP

ElCheapo

Rocking-M

Rocking-M