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Car values for insurance settlements


Car values for insurance settlements often are uncertain. The value of a totaled car, the value to compensate a car that involved in serious car accident, or the amount to compensate drivers or passengers’ medical expenses are depending on how the insurance company judge the case. As this is something indistinct, there will be no exact amount stated in the car insurance policy for a totaled car. However, there are ways to work things out with car insurance companies when an accident happened.

Generally, there are three situations when an accident happened. One is your own fault, where you are the one who made mistake and cause the accident happen. If you have comprehensive car insurance or first party car insurance, you can claim everything from your own insurance (see also What is comprehensive car insurance?). Otherwise, you will have to pay for your own mistake as well as other’s compensation. If it is other’s responsibility, you can claim it from his or her insurance companies. The third possibility is both parties do not admit their fault. The case will then have to bring to court with each of your own lawyer.

Regardless of which insurance you are going to claim, the process will be a little bit troublesome and tricky if this is your first time. Insurance settlements value could be few hundred up to few thousand differences if you do not negotiate for the maximum settlements. Often, there will be adjuster come to view the damage to the car, whether it is totaled or repairable, and check out all other medical expenses. Adjuster or insurance company will be the one who made the first offer. However, you can request for more if you feel the amount or the compensate value isn’t right for you.

How to negotiate for the maximum settlements?

Car insurance companies always a settlement range for all the cases. Adjusters will never start the offer with the highest figure, often, lowest figure will be offered to you. You can then start the negotiation from there. There are few things you need to do in order to negotiate for the maximum settlements.

  1. Collect as much as information as you can from internet or from books. You can determine the value of a totaled car based on the car make, model, year, and current condition before the accident happened.
  2. Insurance settlements usually “overlook” some other invisible cost including the sales tax, registration cost of the car, towing cost, medical and chiropractic treatment, lost wages, and some other cost occur from the accidents. You are the one have to bring it out. For example, if an electric pillar was destroyed during the accident, the amount of the pillar could be very high and this should be included when you negotiate for the maximum insurance settlements.
  3. Documentation is one thing important to determine the values for insurance settlements. Remember to document up everything related to the accident including medical bill. All these documents are to support the value you are going to negotiate with the insurance company.

We advice you to hire car accident lawyers if you are not good in negotiations. Car accident lawyer can help you to double check if the settlement amount is reasonable or it can still be higher based on the facts and all the documentations in order to get the maximum insurance settlements.


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