Car accident settlement

[DrDusty86]

My attorney is seeking "Open Policy Settlement". I was in a car wreck about 7 months ago and have has PT done along with MRIs and X-Rays on my shoulder. I will most likely need Rotator Cuff surgery. The Unlicensed driver that hit me was driving a company vehicle that's got Amerisure Commercial Coverage. What most likely will happen with the insurance?
Thanks,
Dusty

 

[bluestream]

You're looking for legal advice on an oil forum? Why not check out a legal specialty forum?

 

[Cujet]

Oh boy. Surgery. I'm sorry to hear that. But, you should know there is no way we can predict what will happen. You've not provided any information and even if you did, every situation is different.

I wish you well.

 

[Cristobal]

You need a conference in person with your lawyer.

 

[Dave Hess]

Yeah, contact a lawyer in your state

 

[D189379]

The law around here is that the insurance follows the vehicle, no matter who is driving,

 

[dwcopple]

You can expect to get full policy limit on their PIP coverage. Most likely $100K. The lawyer will grab 1/3rd of that leaving you with $66K of tax free money. Consult a financial advisor fast before you spend $.01 of the check.

 

[TooManyWheels]

Originally Posted By: dwcopple
Consult a financial advisor fast before you spend $.01 of the check.


Please elaborate...

 

[dwcopple]

If you are handed 66K and you pee it all away in a month or two, you will kick yourself forever. Talk to someone who will give you smart advice and make the money work for you.
I got in a horrible motorcycle crash and had a few surgeries. Got the $66K and bought a house(20% down so no PMI), paid off all debt, and set up an investment account paying me over 4.5% at the time. The only stupid purchase I made was an overpriced engagement ring for the wrong girl that I ended up breaking it off with anyways. Lost about half on that one...

 

[DrDusty86]

Shoot,
I'm good at saving money, I have about $15k saved up right now.. Live very frugal and I'm in college. No debt! I do secured loans and pay cash.
Dusty

 

[Mixologist]

Originally Posted By: dwcopple
The only stupid purchase I made was an overpriced engagement ring for the wrong girl that I ended up breaking it off with anyways. Lost about half on that one...



You spent $33,000 on a ring?