QuestionI was recently in an accident. I got a failure to yield ticket, even thought I felt the guy was speeding, and I also had no insurance at the time.
Now the other cars insurance is asking me for $7800 and already offered me a settlement of $6300 without me asking. I am full aware that I am required to pay for damages. But did not expect it to add up to just under the blue book value of the car! It was hit on the side panel and bumper front of the car, and mine looked worse than his!
I am now wondering if it is a reasonable request to negotiate the amount down, or at the very least ask the payments to be lowered and stretched out over a long period of time. I am also suspicious of the fact that the repair costs were so high.
AnswerHi Kari,
I can tell you from experience that body work is very expensive so it is not unusual the repairs could cost that much. You should however, request a copy of the final detailed repair estimate including all supplements to verify the cost.
That having been said, you can negotiate the amount. If you have cash reserves, you can negotiate a lum sum settlement. You may start by offering 50% and then negotiate the best you can. If you do not have cash, then you can negotiate a payment plan. However they will be less likely to take much off the total if they have to wait many months or years to get this off their books.
I hope this helps
Richard Hixenbaugh
