Since the liability has been established, you need to make sure that you don't suffer any financial losses as a result of the accident.

Most insurance companies have a "safe-harbor settlement range" that represents the dollar range for which similar personal injuries and/or vehicles involved in the accident in similar circumstance have settled. Instead of guessing how much insurance compensation for the vehicle is fair, I'd compile all the evidence of the car accident, including 1)traffic report, court case result, damage to your car ($2,750?) and personal property, 2)receipts you paid for parts and the numerous hours you've worked on your vehicle (dates etc.), 3)cost of replacement vehicle (bluebook value, newspaper ad, did someone mention that he's selling his 94 cs for $4,000? 4)any other expenses incurred as a result of the accident (medication? taxi fares etc.?)

Keep a figure in your mind that's your bottom-line dollar amount - the amount you're hoping to settle for. Keep this number in mind when negotiating - never reveal to the insurance adjuster.

In writing your demand letter, you may want to state a settlement demand figure. This is dollar amount revealed to the insurance adjuster that you would settle for. This figure, believe it or not, is generally 70% - 80% higher than your bottom-line dollar amount. This gives you room to negotiate back down to your bottom-line figure. Adjuster's first offer is $1,554 which means that you can provide him a counter offer.

The insurance adjuster will likely just do the opposite. I saw cases that follow-up with rebuttals stating any emotional suffering such as the inabilityto care for a child and how that affected tyhe child as well.

One more note, it may be helpful for you to send a letter (registered with return receipt) to the other driver and tell him that you'd consider to sue him if your claim is not satisfactorily settled with his insurance company. This is called 'tort' claim.

After you've agreed upon a fair settlement value, follow-up with a letter to the adjuster stating the agreed upon settlement value, what it covers and the date the expected documents from the insurance company are to arrive.

Good luck and take it easy!

posted by 4.65.51...

• Update on 94 cs n/a collision, Yaofeng, Sat, 19 Feb 2005 07:15:33
  • Re: Insurance Claim, Wang, Sat, 19 Feb 2005 22:42:03 <-- Viewing This Message
  • Re: Update on 94 cs n/a collision, Yaofeng, Sat, 19 Feb 2005 19:03:37
  • Re: Update on 94 cs n/a collision, Robert Hoff, Sat, 19 Feb 2005 17:43:57
  • Re: Update on 94 cs n/a collision, Charles, Sat, 19 Feb 2005 11:46:12
  • Re: Update on 94 cs n/a collision - been there., DavidA, Sat, 19 Feb 2005 11:24:33
  • What's the rationale for 60%?, Wingerr, Sat, 19 Feb 2005 10:37:16
  • Re: Update on 94 cs n/a collision, Kappy, Sat, 19 Feb 2005 08:25:09
  • Re: Update on 94 cs n/a collision, rob 94 cse, Sat, 19 Feb 2005 07:53:53
  • Market Value is all over the place!, Bill Homer , Sat, 19 Feb 2005 07:36:51
    • You have the right!, Josh Jones, Sat, 19 Feb 2005 09:32:53
      • Had a similar one. Takes a while, but......, andrew , Sat, 19 Feb 2005 21:07:05

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