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Auto Insurance Settlement
witch_ie
Registered User regular
Registered User regular
As I have mentioned in a few past threads, I was in a car accident a few months ago. The damage was so severe that my car, a 1999 Toyota Corolla, was considered totaled and I was paid the "market value" of the car. I did my research as far as this was concerned, so I don't feel that I got the short end of the stick or anything. Because my car was totaled and I wanted a car that I was sure would be as reliable, I took out a loan and bought a 2008 Toyota Corolla.
In addition to the car replace costs, I also suffered some back pain which I went to a chiropractor for over a few months, from which I think I am now fully recovered as I no longer have any pain. I also had a rental car for two days that was reimbursed at less than the cost - which I expected based on the cost of my rental and what my insurance covers. I have been extremely nervous driving since the accident, although I'm getting better.
I've been waiting to get my deductible back for several months - the delay being that my insurance company is investigating the accident to determine at fault and responsible parties. They have not been able to locate the other driver or any insurance associated with that driver. The police report and witness statements support my claim that I was not at fault.
I received a call from my insurance company today, stating that since they haven't been able to get more information, they are moving forward with the understanding that I was not at fault. Furthermore because this driver appears to be uninsured rather than the "self-insured" that appeared on the police report, they will cover the full cost of my medical without any involvement from my primary medical insurer. I think - "great - I get my deductible and the cost of my care taken care of."
Here's where my question comes in - inclusive of that money (deductible and medical), they are offering me a settlement of around $1500. Now, I'm not sure why they would do this. I've done a quick search on the internet, but can't figure out whether I should agree to it or what it means if I do. Is the amount they are offering me appropriate? What is it based on? Am I signing away any rights in accepting it? I had no intention of taking this case to court, although I do think that the guy who hit me should be investigated by law enforcement for fraud, etc. (I just don't want this to happen to someone else, but don't want the drama/work of taking anyone to court.)
tldr; What are the implications of accepting a settlement from my auto insurance company in a case of an uninsured motorist being at fault in California?
In addition to the car replace costs, I also suffered some back pain which I went to a chiropractor for over a few months, from which I think I am now fully recovered as I no longer have any pain. I also had a rental car for two days that was reimbursed at less than the cost - which I expected based on the cost of my rental and what my insurance covers. I have been extremely nervous driving since the accident, although I'm getting better.
I've been waiting to get my deductible back for several months - the delay being that my insurance company is investigating the accident to determine at fault and responsible parties. They have not been able to locate the other driver or any insurance associated with that driver. The police report and witness statements support my claim that I was not at fault.
I received a call from my insurance company today, stating that since they haven't been able to get more information, they are moving forward with the understanding that I was not at fault. Furthermore because this driver appears to be uninsured rather than the "self-insured" that appeared on the police report, they will cover the full cost of my medical without any involvement from my primary medical insurer. I think - "great - I get my deductible and the cost of my care taken care of."
Here's where my question comes in - inclusive of that money (deductible and medical), they are offering me a settlement of around $1500. Now, I'm not sure why they would do this. I've done a quick search on the internet, but can't figure out whether I should agree to it or what it means if I do. Is the amount they are offering me appropriate? What is it based on? Am I signing away any rights in accepting it? I had no intention of taking this case to court, although I do think that the guy who hit me should be investigated by law enforcement for fraud, etc. (I just don't want this to happen to someone else, but don't want the drama/work of taking anyone to court.)
tldr; What are the implications of accepting a settlement from my auto insurance company in a case of an uninsured motorist being at fault in California?
witch_ie on
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You should absolutely consult a lawyer. Ambulance chasers do free consultations, so there's really nothing to lose.
we also talk about other random shit and clown upon each other
On a plus side, the insurance company will still look for him, as the mofo owes the insurance company money. Right now they're trying to close their case with you because if they fight with you over the deductable you have a greater chance of fighting them (and winning), and focus their attention on the vagabond.