Anyone experienced negotiating with insurance claims adjusters?

I

imported_smprince1

New member
I had an accident on my way to work 1 week ago. A car approaching from the opposite direction cut directly across my lane as he attempted to enter a gas station. I was riding my motorcycle and squarely T-boned him on his passenger door.



The police report clearly placed 100% blame on the other driver and cited him for failure to yield.



Luckily, my injuries appear to be limited to my right knee. X-rays show no broken bones, but a week later I still have some soreness and stiffness. I'm currently on prescription anti-inflammatory and pain medication.



My black 1998 BMW R1100RT was declared a total loss by the insurance company. I had kept this bike in excellent condition, it had only 35,800 miles. The insurance adjuster gave me a figure of $5100 to settle, but from doing some internet shopping I believe it would cost approximately $6500-$7000 to find a similar bike in similar condition. After I stated such to the insurance adjuster, he stated that this was not a "full replacement" claim and they were only obligated to compensate me in accordance with NADA value. I presented ads from my internet search showing bikes in the $6500-$7000 price range which I believe are good comps, but he would not consider them.



I'm not looking to profit monetarily from this accident, I simply want to have what was taken from me replaced.



Any suggestions for how I might be able to mount a successful case to have the settlement raised in my favor?
 
If it costs $7000 to replace it, you need $7000 from them. That is why you have insurance.
 
Not so simple ....



The other driver's insurance is paying for the loss since he was 100% at fault. It happens to be Nationwide.



The problem lies in the manner in which the Nationwide adjuster calculated the total loss value for settlement. They are willing to pay me for the loss, just not enough for me to replace it.
 
I have been throught this a few times

and My Inc Co.(Nationwide) have always done ALL the leg work for me

to get me what I wanted
 
smprince1 said:
Not so simple ....



The other driver's insurance is paying for the loss since he was 100% at fault. It happens to be Nationwide.



The problem lies in the manner in which the Nationwide adjuster calculated the total loss value for settlement. They are willing to pay me for the loss, just not enough for me to replace it.
Click to expand...



Again. Tell them what you want and wait for it. I've dealt with other peoples' insurance.
 
smprince1 said:
Not so simple ....



The other driver's insurance is paying for the loss since he was 100% at fault. It happens to be Nationwide.



The problem lies in the manner in which the Nationwide adjuster calculated the total loss value for settlement. They are willing to pay me for the loss, just not enough for me to replace it.
Click to expand...



Gleened from numerous experiences, never, EVER deal with the other guy's insurance company. They have absolutely no interest in providing any kind of satisfaction to someone that's not even their customer. You pay premiums to a company for service and protection, get your money's worth out of them.



Any time an at-fault driver's insurance adjuster tried to low-ball me I ended up turning the claim into my company. On every occasion I received a prompt, satisfactory payment minus deductible and received the deductible back once the two companies negotiated their deal.



I'd advise consulting with your insurance carrier. They will take care of their customer's interests far better than the other guy's company..... they know in the end it won't cost them a dime.



TL - been there, done that
 
I've been through this a couple of times. If your insurance company is worth anything they will go after his insurance for you, that or you should file a claim with your insurance and let them go after his insurance as they will get their money back.



Trust me, his insurance has no intention of paying you what your car is worth so just forget about talking to them altogether. Let your insurance handle it, that's what you pay them for.
 
First, I'm glad you were not hurt more severely. This could have been very bad for you and your family. Second, good thing the other driver has insurance.



You perhaps hold some remaining leverage with the other other driver's insurance company. Always remember that accident liability has two parts - 1) Property damage and 2) Personal Injury.



Backing up, here's the two golden rules to follow after an accident:



1) Never say the accident is your fault.

If you really consider it is your fault, just don't say it. Simply tell the police and insurance company the story as you see it. Let the insurance companies make the determination - or in some areas, the police are required to make a judgement, too.



2) Never say you're not hurt.

Certainly, in your accident, you were hurt. Always reserve that judgment for later for you or for you and your doctor.



Insurance companies are very eager to close out claims as soon as possible. The earlier they close out, the less is paid out on average. They want you to sign off on the remaining liability as soon as possible. But remember, it's for both property damage and injury.



Got it yet?



Now, I wouldn't claim your neck (or knee) hurts every time you think about what it will cost to replace you vehicle. That's not right. But, I see no reason why you should sign off so to speak on the injury side in a hurry. Let the insurance company help convince you.



Oh - here's a 3rd rule - Always call the Police - get a report - especially if the accident is cleary not your fault. If they hesitate to show due to 'policy' since the accident is property damage only, insist on it. People flash invalid insurance cards all the time. They are a lot less likely to do this to a police officer. You will know the situation more cleary with police assistance.
 
After a lot of back and forth haggling, I got the adjuster to increase the settlement figure from $5100 to about $6250 for the bike.



I mostly argued the condition of the bike and the aftermarket add-ons justified a higher value. He agreed with my arguments after he saw I was not just going to accept the initial settlement offer.



They also agreed to include an additonal amount to replace my helmet, leather jacket, and pants which were damaged, bringing the total settlement to about $6720.



I'm satisfied I've gotten the best settlement I can expect and signed the paperwork.



I guess the moral of the story is that you don't have to accept the first figure the adjuster offers.
 
I'm glad it worked out for you. Amazed with how much good and bad advice people here gave you. The damage to your bike is peanuts compared to the potential BI claim you have.
 
David Fermani said:
The damage to your bike is peanuts compared to the potential BI claim you have.
Click to expand...



Still don't know how bad that's going to be. I'm still being treated for my knee injury by an orthopedic specialist who believes it to be just bruised and sprained ligaments. The knee seems quite stable so maybe I got lucky without major jont damage. Hopefully it will heal with just exercise and time. After almost 2 weeks I still have some pain and stiffness. The swelling has almost cleared up, only some minor localized swelling in the area of the ligament sprain.



Like I said, I'm not looking to profit from this monetarily but I will have some medical bills and time off from work. My quality of life has suffered also (couldn't sleep due to the pain, can't exercise, can't play with my kids, can't talk a walk with my wife, can't work around the yard, etc.). I don't know how the insurance company puts a price tag on that.



As you probably know, the property damage claim is completely separate and I've settle for that at the best figure I think I was going to get.
 
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