• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Policy Limit Offer from Insurance Company - Should I Accept?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

Status
Not open for further replies.

spilt_coffee

Junior Member
I was involved in a four car pile up on the freeway in the state of Washington, here are the facts as I know them at this point.

  • I am not at fault and fault is not in question.
  • The at fault driver was uninsured, driving a co-workers car with a suspended license (the vehicle itself is presumed to be uninsured, still trying to verify).
  • I waived personal injury protection on my auto insurance to reduce costs many years ago (starving college student, you know the story).
  • I have full health coverage from my current employer with a maximum out of pocket expense of 2000$ per year.
  • My uninsured motorist coverage is limited to 25k for bodily harm and 25k for property damage.
  • My car is a write off, fire fighters had to cut the roof off to get me out. The KBB retail value of the car is roughly 9k.
  • I was knocked unconscious in the collision and rushed to hospital where I was released 6 hours later with the follow diagnosis: 'cervical and lumbar strain and closed head injury with mild traumatic brain injury'.
  • I'm seeing a neurologist who is treating me for the post concussion symptoms (recovery is lasting longer than the normal 24-48 hour period).
  • I've been off work for one week, and am likely to be off for another week or two. My salary is relatively high, I'll chew through the 25k policy limit with lost wages alone very quickly.

My insurance company has offered to pay the uninsured motorist policy limit on bodily harm (25k) once I've given them access to ER and neurologist records and salary information. Is there any down side to accepting this preemptive offer? Is there any reasonable scenario where I can expect to collect more than the limit from my insurance provider? I assume I'd have to release my insurer from all claims, but would I still be able to litigate against the at fault driver and vehicle owner (and potentially the car owner's insurer)? Will my health care provider attempt to recoup medical expenses from me if I've settled with my auto insurance provider? Should I hire a personal injury attorney to review the case before settling with my provider?

I'm in way over my head, any advice would be greatly appreciated.

Thanks,
R.
 


whynot

Member
Don't rush

Any decent PI attorney will give a free consult.

It turns out this can all be very complicated. Whether you can sue the other driver or their insurance, can be effected by whether you've taken your own uninsured limits. You can sue the other driver for more than their insurance policy & sometimes even collect it. The list of complications goes on & on, & is state dependent.

So my advice would be consult with a number of PI attorneys until the answers seem to have a consistent ring to them. To find the best PIs in your area, call any attorney. If they don't do PI, ask who they recommend. If they do PI, at the end ask if you don't use them, what three firms would they recommend. After awhile the names offered will be consistent, & you'll have a feel for who's well respected. Nowadays most every firm has a person who does their PI because it seems like a way to make money. Instead look for firms that specialize in it. You'll get totally better & different information. Also in the end you want one that's known for going to trial, not negotiating everything, or the insurance will not take them as seriously. Also, if you ask the reputation of a firm & the answer is "I can't comment, I don't have any comment" or any other vague statement, it means they have something negative to say but don't feel comfortable spreading it.

If the insurance is quick to make an offer, it's likely it's in their own best interests. Not 100% of the time, but it's a possibility to seriously consider.

Hope this suggestion comes before you've made a decision, & I'm not late with it.
 

ecmst12

Senior Member
"Call any attorney" is NOT a good way to find a good injury lawyer. And if you've already been offered the limits, it's very unlikely a lawyer will be able to get you more, unless it's from your own underinsured motorist policy - which you apparently don't even have.
 
Last edited:

whynot

Member
"Call any attorney" is NOT a good way to find a good injury lawyer. And if you've already been offered the limits, it's very unlikely a lawyer will be able to get you more, unless it's from your own underinsured motorist policy - which you apparently don't even have.

My reply was held for moderation, but I'll see if this posts.

Your comment at me makes no sense. --- If you read my WHOLE answer. --- You took one line way out of context. Did you really think that sentence was the end of the thought? When it was followed by a large paragraph?

It was advice on how to track down the actual good PI attorneys in any area. You start anywhere, & ask who's good, until eventually you keep hearing the same referrals over & over. It's one of the best methods - i.e. reputation means a whole lot.

Did you skim & misunderstand?
 

Jerry C. Allen

Junior Member
No you must no take limit offer. You told that you have no fault and your insurance coverage is enough to get good amount of money. Try to find a good lawyer I think lawyer can help you.
 

ecmst12

Senior Member
Getting a lawyer would be pointless, a lawyer can't make money appear out of nowhere. There is no UIM in play and OP has already been offered the max he can get from the policy.
 

Zigner

Senior Member, Non-Attorney
Furthermore, getting a settlement from ones own insurance company does not preclude the OP from suing the at-fault party. Any recovery from the other party for personal injury and/or property damage would need to go first to pay the insurance company and whatever is left would go to the plaintiff in the case to be distributed per his/her agreement with the attorney handling the case.
 

whynot

Member
@emc12 - You misreading my prior comment, & negatively posting about it. Are you going to comment about that??

Getting a lawyer would be pointless, a lawyer can't make money appear out of nowhere. There is no UIM in play and OP has already been offered the max he can get from the policy.
Disagree. I just sat & listened to multiple firms analyze a case - and there can be money from nowhere. It's not AT ALL as simple as "max of policy." Insurances HAVE paid more than their policy, not often but it's not that straightfoward. Also, if you take your SUM/UM, it CAN preclude other suits that seem unrelated. I just watched that debate by more than one firm, as well.

On money from nowhere - a car used for business delivery for any reason, can suddenly change the whole insurance picture. I know of one recent case where two minimally insured cars turned down by several firms, but taken by another, resulted in over million dollar award from a business policy.

I doesn't hurt to ask a few expert PI attorneys, under any circumstance.

@ECMST12 - your inaccurate reading of my prior post, is frustrating.
 
Last edited:

Zigner

Senior Member, Non-Attorney
@emc12 - You misreading my prior comment, & negatively posting about it. Are you going to comment about that??



Disagree. I just sat & listened to multiple firms analyze a case - and there can be money from nowhere. It's not AT ALL as simple as "max of policy." Insurances HAVE paid more than their policy, not often but it's not that straightfoward. Also, if you take your SUM/UM, it CAN preclude other suits that seem unrelated. I just watched that debate by more than one firm, as well.

On money from nowhere - a car used for business delivery for any reason, can suddenly change the whole insurance picture. I know of one recent case where two minimally insured cars turned down by several firms, but taken by another, resulted in over million dollar award from a business policy.

I doesn't hurt to ask a few expert PI attorneys, under any circumstance.

@ECMST12 - your inaccurate reading of my prior post, is frustrating.
:rolleyes::rolleyes::rolleyes:
 
Status
Not open for further replies.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top