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Question
My car was involved in an accident which entails an ambulance driver backing into my parked car and leaving the scene of an accident. I have contacted several attornies who have adviced me to try and handle the situation before hiring them. I only sustained property damage to my car. I want to know how much should I settle for as a one time payment to fix my car? The preliminary estimate that I have so far is around $6,500. This total includes estimated cost for body work, car rental, warranty for subsequent repairs, and diminution of value. I want to know what is a fair settle. I paid $27000 for my car. I only had the car a week when it was involved in the accident. I have not made the first payment. I want to be sure that I have no out of pocket expenses from this accident. I need to know legally how much can I ask for?
Submitted: 398 days and 21 hours ago.
Category: Legal
Value: $15
Status: CLOSED
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Cleveland, Mississippi
Already Tried:
I have received several estimates that only include body work. I am suppose to fax over all documents including my requested settlement amount. I don't know what to ask for without expert advice.
Accepted Answer
Thanks for the chance to assist
I think you are on the right track, to ask for repairs, rental, and diminution of value. All of these I think are legitimate expenses. If you have an estimate of $6.5k that covers this, I would ask for this amount and provide documentation that supports your request.
In a lawsuit, you would be entitled to recover "foreseeable costs", and the costs you list are all "foreseeable". Now, the insurance company may want to try and reduce this number (either $6.5k or any other reasonable figure you provide). You will have to determine at what point you walk away and retain counsel, since when you get a lawyer involved, they will take a portion of the settlement, in most cases 30% or so.
Expert:
psimmons
Pos. Feedback:
99.5 %
Accepts:
Answered:
10/20/2008
Attorney
Law Degree, 12 Years of trial experience
398 days and 20 hours ago.
Reply
I am really uncomfortable with taking a one time settlement because of the expenses that can occur with owning a foreign car. I asked the Toyota epert for some advice also. I was just trying to find out if I am legally entitled to what I am asking for and what number should I be shooting for before seeking legal representation. I really don't want to file this on my insurance because I don't think they'll ask for the fees I am asking for and I don't want to risk my rate going up. I have a perfect driving and accident record so far.
Accepted Answer
Unfortunately, our system is such that you will get a single amount of money to cover your damages. That is why its important to fully calculate the foreseeable expenses up front. It looks like you are doing that.
I would put in your request to the insurance (not yours, the company that hit you) and let them come back with a counter offer or accept yours
Expert:
psimmons
Pos. Feedback:
99.5 %
Accepts:
Answered:
10/21/2008
Attorney
Law Degree, 12 Years of trial experience
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