Comments on: Settling an Insurance Claim After an Accident – Struggling with Guilt, Doubt and Greed http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/ Making You a Winner at Money and Life Thu, 09 Feb 2012 18:37:26 +0000 hourly 1 http://wordpress.org/?v=3.3 By: joeplemon http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-3141 joeplemon Fri, 06 Aug 2010 15:19:59 +0000 http://personalfinancebythebook.com/?p=2640#comment-3141 Bob, Thanks for the encouraging words and especially for your prayers! Carol will appreciate knowing you are praying for her. Bob,
Thanks for the encouraging words and especially for your prayers! Carol will appreciate knowing you are praying for her.

]]> By: Bob http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-3139 Bob Fri, 06 Aug 2010 14:56:32 +0000 http://personalfinancebythebook.com/?p=2640#comment-3139 Great advice and I love the biblical references. My thoughts and prayers are with Carol. Great advice and I love the biblical references. My thoughts and prayers are with Carol.

]]> By: Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Forty-ninth Edition http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2925 Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Forty-ninth Edition Wed, 21 Jul 2010 11:20:27 +0000 http://personalfinancebythebook.com/?p=2640#comment-2925 [...] Plemon presents Settling an Insurance Claim After an Accident – Struggling with Guilt, Doubt and Greed posted at Personal Finance By The Book, saying, “For most of us, our anxieties in dealing [...] [...] Plemon presents Settling an Insurance Claim After an Accident – Struggling with Guilt, Doubt and Greed posted at Personal Finance By The Book, saying, “For most of us, our anxieties in dealing [...]

]]> By: joeplemon http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2875 joeplemon Sat, 17 Jul 2010 12:29:12 +0000 http://personalfinancebythebook.com/?p=2640#comment-2875 @Marc, Thanks for the info. After your first comment, I asked Carol about her insurance company's responsibility to supply legal counsel. Her agent said that the company doesn't do so, which leaves her on her own. She will probably be awarded a settlement, which is not always an objective dollar amount and is probably going to be a number she (or her counsel) works out with the attorney for the other insurance company. She has already obtained legal counsel, which she probably needs. @Greg, Your words "Unfortunately, she does need a lawyer" pretty well sum it up. I hadn't thought of the possibility that the other driver might not have enough insurance. Hmmm. If that occurs, then I would hope that her own company would be honorable enough to do the right thing. But would they be more apt to do so if she has legal counsel or doesn't have legal counsel? I am thinking that her counsel would be advantageous. Thanks for sharing your thoughts. Much appreciated. @Marc,
Thanks for the info. After your first comment, I asked Carol about her insurance company’s responsibility to supply legal counsel. Her agent said that the company doesn’t do so, which leaves her on her own. She will probably be awarded a settlement, which is not always an objective dollar amount and is probably going to be a number she (or her counsel) works out with the attorney for the other insurance company. She has already obtained legal counsel, which she probably needs.

@Greg,
Your words “Unfortunately, she does need a lawyer” pretty well sum it up. I hadn’t thought of the possibility that the other driver might not have enough insurance. Hmmm. If that occurs, then I would hope that her own company would be honorable enough to do the right thing. But would they be more apt to do so if she has legal counsel or doesn’t have legal counsel? I am thinking that her counsel would be advantageous.

Thanks for sharing your thoughts. Much appreciated.

]]> By: Greg McFarlane http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2869 Greg McFarlane Fri, 16 Jul 2010 21:36:28 +0000 http://personalfinancebythebook.com/?p=2640#comment-2869 Unfortunately, she does need a lawyer. But given that Carol is seeking your advice, she's clearly not the kind of person who's going to abuse the system, holding her neck in faux agony and committing to bogus visits to a rehab clinic so she can hit the other driver's insurer up for more money. Ideally, her insurer should help her recover her losses. But her agreement with her insurer probably doesn't require this - thus her need for a lawyer. Better she get 67% of something than 100% of nothing. And what if the other driver doesn't carry enough insurance? Then she'll have to sue her own insurer? So yeah, she definitely needs a lawyer. Unfortunately, she does need a lawyer. But given that Carol is seeking your advice, she’s clearly not the kind of person who’s going to abuse the system, holding her neck in faux agony and committing to bogus visits to a rehab clinic so she can hit the other driver’s insurer up for more money.
Ideally, her insurer should help her recover her losses. But her agreement with her insurer probably doesn’t require this – thus her need for a lawyer. Better she get 67% of something than 100% of nothing.
And what if the other driver doesn’t carry enough insurance? Then she’ll have to sue her own insurer? So yeah, she definitely needs a lawyer.

]]> By: Marc http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2866 Marc Fri, 16 Jul 2010 18:23:16 +0000 http://personalfinancebythebook.com/?p=2640#comment-2866 joeplemon, The responsibilities of her insurance company are specified in her contract. It depend on the state she's in (I'm only licensed in California), the coverage she's got, and the specifics of the case. She needs to contact her insurance company and talk to an adjuster, and maybe even the DOI for her state. My concern is this: the damages are the damages. You don't get more money just because you decide to hire a lawyer (at lease not in California). If that lawyer gets 1/3 of the awarded damages, then you're out that money. Also, as soon as you contact your own attorney, you are considered to have representation, and your insurance company will usually not talk to you after that. It's alway best to pursue other avenues before you hire you own attorney. Marc joeplemon,
The responsibilities of her insurance company are specified in her contract. It depend on the state she’s in (I’m only licensed in California), the coverage she’s got, and the specifics of the case. She needs to contact her insurance company and talk to an adjuster, and maybe even the DOI for her state.

My concern is this: the damages are the damages. You don’t get more money just because you decide to hire a lawyer (at lease not in California). If that lawyer gets 1/3 of the awarded damages, then you’re out that money. Also, as soon as you contact your own attorney, you are considered to have representation, and your insurance company will usually not talk to you after that.

It’s alway best to pursue other avenues before you hire you own attorney.

Marc

]]> By: joeplemon http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2862 joeplemon Fri, 16 Jul 2010 11:57:46 +0000 http://personalfinancebythebook.com/?p=2640#comment-2862 FB, Here is the thing. I don't really know if an insurance company is obligated to supply legal counsel to help their customers deal with other insurance companies. If they should be, then this company has definitely dropped the ball. But is supplying such legal counsel something that normal insurance policies cover? Can someone help us out here? If I find out, I will add a new comment. FB,
Here is the thing. I don’t really know if an insurance company is obligated to supply legal counsel to help their customers deal with other insurance companies. If they should be, then this company has definitely dropped the ball. But is supplying such legal counsel something that normal insurance policies cover? Can someone help us out here?

If I find out, I will add a new comment.

]]> By: Financial bondage http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2861 Financial bondage Fri, 16 Jul 2010 11:26:49 +0000 http://personalfinancebythebook.com/?p=2640#comment-2861 Id like to know what insurance company she has.... if they are not doing what they should be doing, I would be on the internet letting everyone know what company xyz is doing, or not doing... face-book, twitter, blog, etc... you get into an accident and injured, you have enough to worry about. the last thing you need is an insurance company that refuses to do its job after you pay premiums for years on end. Legal help requires BIG money... our legal system is like an elite club... those with big bucks can join and have access to it (and get the help they need)... those without big money can't play. Sad but true. Our legal system is a mess. Id like to know what insurance company she has…. if they are not doing what they should be doing, I would be on the internet letting everyone know what company xyz is doing, or not doing… face-book, twitter, blog, etc…

you get into an accident and injured, you have enough to worry about. the last thing you need is an insurance company that refuses to do its job after you pay premiums for years on end.

Legal help requires BIG money… our legal system is like an elite club… those with big bucks can join and have access to it (and get the help they need)… those without big money can’t play. Sad but true. Our legal system is a mess.

]]> By: Yakezie Alexa Challenge Carnival http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2853 Yakezie Alexa Challenge Carnival Thu, 15 Jul 2010 05:14:55 +0000 http://personalfinancebythebook.com/?p=2640#comment-2853 [...] Settling an Insurance Claim After an Accident Struggling with Guilt, Doubt and Greed from @pfbythebook [...] [...] Settling an Insurance Claim After an Accident Struggling with Guilt, Doubt and Greed from @pfbythebook [...]

]]> By: joeplemon http://personalfinancebythebook.com/settling-an-insurance-claim-after-an-accident-%e2%80%93-struggling-with-guilt-doubt-and-greed/comment-page-1/#comment-2852 joeplemon Thu, 15 Jul 2010 01:01:14 +0000 http://personalfinancebythebook.com/?p=2640#comment-2852 Evan, Thanks for the tip. It is always good to get an attorney's thoughts. I will pass the suggestion to call the state's insurance department/commission on to Carol. In fact, I am pretty sure she is reading this. Evan,
Thanks for the tip. It is always good to get an attorney’s thoughts. I will pass the suggestion to call the state’s insurance department/commission on to Carol. In fact, I am pretty sure she is reading this.

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