I am curious from someone who deals with insurance claims. I was in a rear-end accident where the man who rear-ended me died. He was traveling 4 + times the speed limit & he was ejected upon hitting me and I witnessed that. I have undergone physical therapy, counseling for post traumatic stress disorder. After 8 months I am feeling better but I still have problems with my back. My lawyer sent me a copy of the demand letter he sent the insurance company yesterday giving details on this case and demanding policy limits which is ,000.00. My loss wages were close to 00.00 and doctors bills were close to 00.00. They have 10 days to get back with my lawyer but I am too curious now and wondering what others think will happen. Will they try to settle for a lower amount—if so my laywer says he will file suit. Opinions please? Thank you.
They will always try to settle for as little as possible, which they could decide is the policy limit.
25K is chump change for what you went through…I think you may need a 2ND opinion. Its your money.
You need to understand the insurance company will not just hand over the money…your looking at 2 or 3 years before you get a settlement…unless you want to bail and just take what they will give you. Depends how bad you need the money…and you can bet the insurance company knows this…that’s their job.
Besides that your attorney will get 10 to 20% off the top of your settlement. Unless he is working on time on case…then he will get more.
I wonder what planet “kapn” is from? 10% attorney fees?? Get real – it will be more like 30-40% IF it does NOT go to trial….
If the other person only had $25,000 liability coverage – “that’s ALL there is , there ain’t no more” unless your attorney sues the deceased’s estate – which may or may not be worth the time and added attorney fees.
Did your attorney file on your OWN insurance company? Does your State offer Uninsured/Underinsured Motorist coverage? Did you elect to buy it? What about Personal Injury Protection? Is it available/required in your State?
I’m sure that your attorney will get you everything he can coming to him.
Good luck, drive RESPONSIBLY and I hope this helps!
Sheezz… it won’t take 2-3 years (no clue). There is a _very_ good probability that the carrier will settle for the $25k. If they thought the claim was worth even $20k, they would just offer the $25k for a release in order to protect their insured. No point in rolling the dice in court as if the judgement were for more then $25k, their own insured could then file a bad faith claim against the carrier and they spend a _whole_ lot more just in defense (just defense on your claim would be about $5k).
Sad thing… you probably could have gotten the $25k on your own. Your attorney will not be taking 33% of that $25k. That is a lot of money for putting your medical bills/notes in a nice folder and sending it along with a letter to the carrier. Hopefully, your attorney will see about getting your medical bills reduced so you get more money in your pocket. As it is, you will have about $8k in your pocket for future medical treatment and compensation for your pain.
This is a reason why it’s a good reason to consider adding uninsured/underinsured motorist bodily Injury to your policy (for future losses).
The other carrier will respond within 10 days but they may ask for some more time (10 days is insulting). Usually attorneys who are reasonable will allow 30 days. There is no reason for a carrier to need more time then that.
Note: The only way any amount from the other carrier will be paid is with a signed release… meaning you can’t go against anyone else for your loss in this accident. That is normal.