The Insurance Corner
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BASE: The Baldyga Auto Accident Settlement Evaluation Formula
Seven Questions And Answers Which Should Assist You In Making The Proper Decision Of Which Of The Four "Base" Values To Settle Your Claim At:
QUESTION #1. What do claims adjusters attempt to determine when examining a Property Damage Repair Invoice?
ANSWER. Typically they look for (A) Replacement parts that were not damaged by the accident. (B) Replacement of parts that were not damaged at impact. (C) Charges made for new parts. - - even though used parts were actually installed. (D) Overcharge of parts. (E) Duplication of parts and labor items.
QUESTION #2. Must I accept the claims adjuster settlement value for what he has determined to be a "Total Loss" of my motor vehicle?
ANSWER. The answer to that one is "ABSOLUTELY NOT "! The figures in Guide Books (such as THE KELLY BLUE BOOK) are not written in stone. There's no law that requires an individual to accept the Property Damage figures the adjuster came up with. If the price that's stated seems too low, you may refuse it. It's written into all proper Property Damage Agreement's that depreciated values are reached by using common sense, negotiation and mutual agreement. Because of this you must never be hesitant to bargain, dicker or argue with the adjuster.
QUESTION #3. How do I make sure I've obtained all the proper information regarding the Property Damage estimate of my motor vehicle?
ANSWER. In the vast majority of motor vehicle accidents there is an "Agreed Cost To Repair" which has been arrived at between the body shop and the adjuster. That should be more than sufficient!
QUESTION #4. I have "Medical Payments" coverage on my Auto Insurance Policy. How does that work?
ANSWER. This type of coverage will pay you, up to the stated limits, for all the Medical Bills arising from your accident - - regardless who is at fault !
You must read this coverage very carefully. "Why", you ask? The
answer to that one is, "Because many people are covered in so many different ways"!
A WORD ABOUT HEALTH INSURANCE PLANS. In certain instances it may be possible to have your medical bills paid (and yet avoid any repayment ) by using your non-automobile Health Insurance Policy and/or some other Insurance Plan you may have. (Yes, that means you may be able to justifiably collect twice for the same medical bills)!
QUESTION #5. How do my medical bills impact the value of my personal injury claim?
ANSWER. The higher the medical bills the greater value of your claim. Be sure to obtain all bills for medical services rendered PLUS the "Final Reports" regarding your physical condition. Make sure these reports include the length of time of your "Total Disability" and also your "Partial Disability".
"Why?" Because that will go a long way in justifying both the "Pain and Suffering" you've had to endure and your Lost Wages. These reports should be in your possession and not sent directly to the insurance company. (You should keep the originals and hand, or send, only copies to the adjuster).
QUESTION #6. What about my "Lost Time From Work?"
ANSWER. Your entitled to be paid for every single dollar you lost - - even if you've been reimbursed by some other insurance coverage you may have !
You're entitled to compensation for your "Lost Time and Earnings" Even if you have not lost any money. Such as, for example, when your salary is paid for by some other personal insurance you may have or by taking "Sick Leave" from work or some other similar arrangement.
QUESTION #7. Once I know which of the four BASE values I should be shooting for how do I negotiate a fair settlement for myself?
All right now, enough time has passed for you to sit down with Insurance Adjuster I. M. Smart. Smart knows the potential of your developing more physical problems (which can always be tied into the accident) is much greater especially because of your age. No matter which way Smart would like to slice your cake he's aware you went through a ton of inconvenience plus a solid period of "Pain and Suffering" which has been clearly sustained within the confines of Doc Comfort's written report.