wreck

[curtisco24]

Thanks to all. I will try to get some pics posted soon. The insurance company should be returning my call anytime. I will know more then.

[Headhunter 2317]

START GATHERING EVERY PIECE OF INFO YOU CAN THINK OF AND GET YOUR HANDS ON IT !!!!!!!!!! DO NOT WAIT ONE DAY TO DO THIS, police reports, wittness statements in writting, names and numbers, video and photo everything, doctors reports, repair estimates for boat, trailer, and auto.  FIND AN ATTORNEY  THAT WORKS IN THIS TYPE OF INCIDENT AND HIRE THEM.  the insurance co. is looking out for themselves not you.

<{POST_SNAPBACK}>

This is excellent advice. Claims people get bonuses for NOT paying out claims.

Enough said.

[WakeGirl]

START GATHERING EVERY PIECE OF INFO YOU CAN THINK OF AND GET YOUR HANDS ON IT !!!!!!!!!! DO NOT WAIT ONE DAY TO DO THIS, police reports, wittness statements in writting, names and numbers, video and photo everything, doctors reports, repair estimates for boat, trailer, and auto.  FIND AN ATTORNEY  THAT WORKS IN THIS TYPE OF INCIDENT AND HIRE THEM.  the insurance co. is looking out for themselves not you.

This is excellent advice. Claims people get bonuses for NOT paying out claims.

Enough said.

The only thing that I'll add to that is to write down/keep a journal of everything that you remember, every detail of the accident. The other insurance company will look for any crack that they can slip through to not pay if there's any doubt that their client is at fault.

Listen to martho, he knows his stuff. I have personal experience with the 75% rule. Our car's repairs were right at about 75%, they gave me the choice of repairing or totalling (I have a very, very good insurance company that I'm extremely loyal to because of situations like this one) - I chose to total it. The only thing that I question would be if the accident would "follow" the boat. What I mean is, would it be part of its history that could be looked up & if so, what kind of effect that would have on your resale value down the road. Just one more thing to think about.

Lastly, but most importantly, I'm very happy that you both are okay. That could have ended so much worse, & I'm not talking about the boat when I say that.

Edited June 8, 2005 by WakeGirl

[curtisco24]

I talked with the other party's insurance carrier today. They interviewed me to get my side of the story. Once this was done, they asked me to drive my truck 1 1/2 hours away to a "drive up adjustment location." I told them that was not going to happen. The adjusted is supposed to come Friday to look at my truck. When I asked about the boat, the adjuster stated in would have to wait until they found the right adjuster for boats, but it would not be Friday.

[curtisco24]

I forgot to mention that I bought an engine warranty with the boat which cost me $1400.00. I am sure it is voided now. Also, I'd say the resale value will go way down.

[WakeGirl]

Speaking from personal experience, I know that this won't be easy, but try not to get too worked up about this. It will work out for you. Focus on the positive, you guys are alive & came away all but unscathed. It could have been so much worse. The financial part will work itself out, just remember that the insurance company is looking out for their own best interest = paying out the least amount possible. Don't take it personal because it isn't. Generally the bulk of a claim is not in the material damages to the property, but in the medical bills/pain & suffering awards due to injuries sustained from the wreck. I'm not advocating lying at all, but waiting to settle that part of your claim with them may keep some bargaining power in your corner. A lawyer would be a better person to speak to that though.

Get yourself a good lawyer & have a consultation with him, get his advice on the matter. You may not need him to handle the claim, just his advice on what to expect & what would be a fair settlement. It will be money well spent, & help you keep a cooler head when you need it most. That's one of the most important things when dealing with claims people in the insurance industry.

[martho]

curtisco24:

If you wish to PM me, feel free. I can give you my take on things.

[YZThump]

Curtis, I'm really sorry this happened to you.

Can anyone explain to me how the other driver's insurance company might handle this if the damage incurred exceed the limits of liability on the policy? For instance, let's say, for the sake of argument, that both Curtis's truck and boat were totalled and that the other driver's policy had liability limits of only $50,000. Would that be the absolute maximum they would ever pay out (excluding bodily injury settlements) even if the replacement cost of the truck and boat exceeded the 50K?

[martho]

Yep.

This is one of the most important reasons to have comp/collision on your vehicles.

So, more than likely, you would make a first party claim with your own insurance and be indemnified. Then, your carrier would subrogate the other carrier. If your carrier pays out 70,000 and the limit on the policy is 50,000, your carrier will be the one to lose out, not you.

There are many other scenarios for this and depending on state/carriers.

There are millions of people who only carry $20,000 in PD coverage on their policies. Most of the 05 vehicles sold today are in excess of $20,000. In IL, the minimum PD limit is $15,000.

[curtisco24]

I talked with the other party's insurance carrier again today. They are sending an adjuster for my truck tomorrow and an adjuster for my boat next week. My wife went to a doctor for her neck, and was referred to the ER for x-rays. We are now waiting on the results of the x-rays.

[martho]

Have you reported this to your own insurance carrier for both the car and the boat?

[Air_Buddha]

Wow - what an ordeal - main thing is that you and your wife are alive and not too bady injured (hopefully)...boat/trailer/truck can be replaced.

In addition to the other party's insurance company looking at your vehicle/boat/trailer I'd suggest having your own estimates from several reputable body shops/your local Malibu dealer/etc. And to chime in on this - a lawyer may be your best friend here.

I personally would not want to own a boat that had been through that kind of ordeal (the long-term condition of the boat would always be in the back of my mind, and probably at the front of my mind in rough water) - of course, seeing the pix may change my mind.

Best of luck!

[tvano]

i've been told not to accept the insurance carriers "first" offer.

they would like you to think that the first offer is the only offer.

negotiate.

the good news is that the arm wrestling over money is the smaller part of this.

best of luck in the health issues.

[jeffmx]

Dude that sucks...........

I would want to beat that guys @#$$ !

[wilma]

Thanks to all.  I will try to get some pics posted soon.  The insurance company should be returning my call anytime.  I will know more then.

<{POST_SNAPBACK}>

I am really sorry to hear of your accident and very curious to find out how you make out with your insurance. Any Pics yet?

Wilma

[curtisco24]

The insurance company is coming tomorrow, and I will try to take some pics and post them then.

[JohnDoe]

What did they say?