Accident Advice Needed!

[Oi-Punx]

Last year I was involved in a minor car accident that was not my fault. My car was rearended at a low rate of speed while making a right hand turn. The damage included a shattered center reflecter, shattered passenger side taillight cluster, dented panel with the "porsche" decal on it and some light surrounding paint damage. The rear half of the car was resprayed, fixed and the car detailed at a high end body shop for nearly $4,000.00. It took them almost 4 weeks to do the work. The insurance company reimbursed me for a rental car, but I was required to pay for their damage waiver insurance because I don't have comp/collision. That set me back almost $300.

I took one day off of work to go to the doctor after feeling some pain the day after the accident. The doctor gave me a clean bill of health and advised that I should not settle with the insurance company right away in case I experienced more discomfort. It has been a little over 4 months since the accident and the insurance is ready to settle. I told them (the claims adjuster) the truth about missing 1 day of work and the doctor's appointment. Based on this info they want to settle for $700 (pain and suffering).

My question is, should I wait longer or get a lawyer with the possibility that they may comp. me for more money or should I take the $700. When you factor in my $300 rental money paid out of my own pocket plus the hassle and (arguably) reduced resale value of the car $400 does not seem like much. Any experiences, info, or advice is much appreciated.

[Z-man]

My advise, settle for $700. It covers all our out-of-pocket expenses, and yeah, the car's value will go down a bit, but it will also go down simply over time. Don't forget, law suits cost money, and eventually you'll wind up paying for it by higher insurance costs.

I know most people say, "You've got an opportunity to sue someone's pants off..." but I think it's better to do the right thing: no one was hurt, you've recovered your losses...etc.

Just my $0.42.
-Z.

[Blackfoot]

i'd see if i could find a recommended, experienced accident attourney. then i'd sit down with him for an hour and discuss your situation. at most you'd be out an hour of his time, whatever he charges. or possibly the consultation could be free, based on if you go ahead with a lawsuit.

unfortunately, the world is this way (won't be much longer), so you should play it by it's rules.

[marky522]

just some 411 for anyones use, read the fine print on your credit card next time before you rent a car!!! My providian card and bank of delaware card will both insure a rental if you pay for it with your c-card.

Mark

[Flight 951]

Like I stated in my reply to your original post last year, it would probably be in your best interest to not settle with an insurance company too quickly. You have anywhere from 1-2 years to eventually settle a claim (differs state by state, check yours). Don't think they want to settle because they want you to have their money nice and quick. They want to settle now when you think you are fine. Like I also said last year in my first reply, my back surgery was exactly one year to the day after being rear ended in my 94 Rx-7. My advice again: unless you are broke and really need $700, wait it out. Their offer will likely rise when you suggest you are in no hurry to settle. By the way, I read an article last year that stated that the average insurance settlement for a "soft tissue back injury" (sore back) was about $3500. $700 really is just about the industry minimum. Hope this helps.

[TheStig]

take em to da cleaners and get a 964 Turbo outta it jk

[sprewell17]

Lawsuits have changed a lot in this area (TX). I had a well known atty and 12 weeks of medical bills and only got $3600 after hard negotions. They paid $12k to fix my old corvette and another $3000 or so for my rental car and paid all my medical bills but I only got $3100 in my hand and I had to lay out another $700 of my own money for a original exhaust when they wanted an aftermarket one. This after a 16 year old drunk ran me off the road in front of 3 witnesses.