[fobsquad]

i just got in a car accident yesterday. my car is totaled (in the sense that it can't be driven, it's still rather intact).
basically, in 2lane traffic. a delivery truck (as long as a uhaul, but taller) cut me off and i hit his back wheel and spun into a pole.
i was fine and in good health. i had a tiny scratch on my hand that's healed already. however, supposedly i don't feel all the symptoms until days later.

now since it IS a delivery truck, they are well insured. it was a normal accident, the driver stopped and called police ASAP, regular police report filed.
however, i talked to their insurance company and they've offered a deal already.
they offered whatever my car was worth according to it's mileage and model on the open market.
and they offered $500 on top, i suppose as compensation.

however, they offered all of this before the police report is out. it will most likely be ready on monday.

now my question is:
should i take the deal? is it worth it?
should i wait for the police report? will it help me or hurt me?

PS: i'm not trying to take anyone to court. of course i want the most money i can get out of it, but i don't want a big hassle either.

i'll be much obliged for any advice/help/personal experiences

[chvietnk]

what kind of car do you drive and find out exactly how much they are giving you before you accept it because market value might be less than what your car is actually worth.

[fobsquad]

what kind of car do you drive and find out exactly how much they are giving you before you accept it because market value might be less than what your car is actually worth.

it seems pretty legit.
it's the same estimate that NADA (National Automobile Dealers Association) gave me

www.nada.com

[Krn_Track_Star]

what kind of car did you drive. I got into a car accident with my mom's car in the past but it wasn't my fault but since and my mom's car at the point of the accident was worth 36k so they were offering me 38k but i figured they had to owe me for my towing and all my expenes so in your case unless the offer includes all the expenses they are going to pay like towing, medical (in case something happens), your value of the car then you should take it if not you gotta be aggressive and try not to pay for anything because it wasn't your fault.

[jphase]

yea as krn track star said, make sure you make them pay for towing, storage, and any rental car fees. After all it is their fault.

[fobsquad]

ok well then besides the fees and price of the car.

do you think $500 is enough for a standard compensation.
i guess the only REAL compensation is just the hassle of it all, since i didn't get hurt or anything.

[Krn_Track_Star]

ok well then besides the fees and price of the car.

do you think $500 is enough for a standard compensation.
i guess the only REAL compensation is just the hassle of it all, since i didn't get hurt or anything.

Thats good you didn't get hurt but like jphase said if you need a retal car make them pay for it, if you think its going to be hard to get the money then take it to a lawyer who can get you the money you deserve.

well after my accident like i said earlier i ended up getting almost 70k because they paid for all of it and i pocketed like 1k which was left over money. so yeah if you think the money the other insurance is offering you will cover all the expenses you are going to endure than take it if not then you gotta get more money and be aggressive.

[achu]

dont take the money.
wait for the police report to come out and have them determine the losses and compensation required.
even if you think the compensation may be more than what is required, i wouldn't take risks.
theres a proper procedure for everything, and just because they are offering you this deal, doesnt mean THEY are the ones breaking such if any procedure for handling insurance claims. in fact if you accept it early, and you find out later that you received less than deserved, you wouldn't be able to do anything about it because you were the one that accepted the deal and not following a procedure.

but i dont know, it seems like you live in new jersey in usa? i'm in canada, maybe the laws and insurance stuff is different.

but 500 dollars? you just said your car was TOTAL LOSS. unless your car is really really old and junky =.=

i think it can be a good idea to go to the the respective automotive dealership of your make, and have them assess how much your car is worth - without telling them you want to know because you crashed obviously.

[vinn]

insurance. well. its up to you. were you injured? you can get some $$
if i were you and not injured i wouldnt mind taking it. just make a contract so everything goes smooth

[Clix]

Wait a few more days. You may feel fine now, but problems don't surface til a few days later.

[goowakjai]

wth.. $500?? i think you can get more by donating it to a junk yard.

[aznkid997]

500 only?! i would suggest let the insurance do the work. they could offer you that price which could basically cover their fault. If the accident is filed then it's most likely a bad thing on the company. Trucking company with accidents won't be used much so they'll lose business. that's all i can think up. good luck! ^^

[kelvin6]

I think what the original poster means is $500 compensation enough ON TOP OF the value of the car owed by the truck's insurance company.

Sometimes, you'd be very lucky to get any compensation at all on top of the car's value. It mainly depends on the other party's insurance company as well as the insured (the other party) amount of coverage. This really only applies if you are fighting the other person's insurance company directly and believe me, sometimes it can be easy and sometimes it might not... and the last time i fought for the value of my car it took two months before I saw any money from them. It also made it worse that the other person's coverage limits were on the borderline of what he needed to owe in damages (four cars were damaged as a result of this idiot).

You can read about my ordeal:
http://www.soompi.com/forums/index.php?showtopic=197157

And the eventual outcome:
http://www.soompi.com/forums/index.php?showtopic=210134

[PoppinBC]

Wait for the police report. It's the only way to make sure you don't get screwed over. If everything is in police records, then there's never any finger pointing; things just go better when you do it through the police, and do it the right way. You should get an additional few thousand dollars, not just $500. You are going to have to rent, storage, towing, new car, closing costs, etc.