First --
Originally Posted by Alex_V
Thanks. My wife and 14 month old son were with me - he was strapped in behind me where the body caved in at least 10". Not a scratch on any of us.
This is most important, glad to hear it.
Having worked in the insurance industry, here's a few tidbits which might help:
1. Do you have GAP insurance on the loan? If so, your loan will be paid off in full if insurance doesn't cover it.
2. Is your insurance policy a "specified amount"?(terms may vary by company) Often, for classic cars you can say what amount you want it insured for. If you have this, then if totaled you'll get the chosen value. I'm not certain SF does that, so
3. if you don't have the coverage then they'll offer you replacement value for your vehicle - so go find several very nice, fully restored/mint ones so you'll have three high estimates. Insurance MUST "make you whole", in essence restoring you to where you were prior to the accident. They may or may not make allowances for the new parts you just put on, but if you have receipts it will help and this part is somewhat negotiable.
4. $800 offer - likely from the other company at first and you are correct to refuse it.
5. Save your medical bills. Not sure how KY works but in some states you can collect from the at-fault driver, your own vehicle medical coverage, AND your health insurance for your medical bill$. Check with your insurer about how things work where you are.
edit: 5.1
Originally Posted by doitmyself
Originally Posted by jeepman3071
Your wife should definitely see a doctor for the hip pain ASAP.
I cannot emphasize enough how important it is to see a doctor for accident pains ASAP. If something should get worse many months, even a year or more later, you will be glad that you have a paper trail established. It's imperative to have this paper trail when lawyers and insurance companies get involved.
100% correct! In fact, ANY problems stemming from the accident, don't be shy about going to see the doc.
6. If the other company balks/delays/ignores/etc, I'd do two things: 1. Send a letter and use the words "bad faith". This will work wonders (usually) and if not, will be very useful in court. In fact, if they're slow to respond at all, put everything in writing to them. 2. If you'd prefer, you can work with your own company. You'll be out your deductible, which they will go after from the other company and will eventually return to you.
7. PM if you like with any further q's.
edit: after reading the above post about the NADA $8400 value, we're on the right track here. One last suggestion - figure out what the vehicle is worth to YOU. Then negotiate for that value. Glad you're all ok!