~The Base Formula~ A Settlement Example
By Daniel Baldyga
~THE BASE FORMULA ~
A SETTLEMENT EXAMPLE
Because Ive received so many contacts, and questions, regarding BASE (The Baldyga Auto Accident Settlement Evaluation Formula) from the readers of the sensational EzineArticles.com Ive decided to provide you-all with insights (via a Settlement Example) regarding THE BASE FORMULA.
OKAY, SO HERE WE GO: Its 10:00 AM on a clear, dry day. Youre operating your motor vehicle north on Main Street in your home town. Youre 62 years old and the assistant manager of a local video store.
Fred Fuddle is a chronically unemployed local with a reputation for being a loud-mouth degenerate who has a string of convictions for drunken, disorderly conduct.
Fuddle is driving his dilapidated van at a high rate of speed, proceeding East on Elm Street. As you approach the intersection of Main and Elm you have a green light. You proceed through, perking along under the posted speed limit. Too late, Fuddle realizes he has a red light. He hits his brakes, leaving 70 feet of skid marks behind him as he flies into the intersection. The front of his van strikes your left rear with a mighty crash. Your arm hits the steering wheel and the $300.00 watch your spouse gave you for your last birthday is smashed. The Property Damage to your motor vehicle will be determined to be $1,700.
The police investigate at the scene. Fuddle is charged with dangerous driving: You note that this is written up in the Police Report. The ambulance takes you to the Angel Of Mercy Hospital Emergency Room, where youre x-rayed and treated. Diagnosis: A mild to severe strain to the cervical-dorsal area which is known as a Whiplash-Type of injury.
Youre eventually treated by your family physician, Ole Doc Comfort. (You later ask for and receive copies of all medical reports from the Angel Of Mercy and also from Doc Comfort).
As soon as possible, after the impact, you asked you son Chip to return to the scene of the accident and he snapped a dozen close-up photos of the skid marks plus the damages to your motor vehicle and then Fuddles van. Chip very wisely visits the police station where he purchases a copy of the report that the Cruiser Patrolmen wrote at the scene.
YOUR FINAL SPECIAL DAMAGES ARE AS FOLLOWS: Ambulance, Emergency Room, X-Rays, Prescription for pain, Heating Pad, Dr. Comforts bill, plus your Lost Wages. THE FINAL TOTAL OF YOUR SPECIAL DAMAGES COMES TO: $1,831.15.
PROPERTY DAMAGES: Cost to repair your (car - motor vehicle) $1,750.00 plus the provable replacement of your wrist watch $300.00. TOTAL PROPERTY DAMAGE LOSS: $2,050.00.
Using the Formula (as detailed by BASE which is found in my book AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM) you determine that the value of your Personal Injury claim falls into the 4 areas provided by THE BASE FORMULA and (in your particular situation) they are: THE PREMIUM VALUE $7,324.60, THE MEAN VALUE $6,408.02 THE CORE VALUE $5,493.00 and a LOW VALUE $3,680.00.
Your case has a number of positive factors that fall on your side of the evaluation ledger, such as: #1. Fred Fuddle is far from being a model citizen. #2. He was driving his vehicle much too fast, as evidenced by the skid marks Chip capture on film. #3. The police cited Fuddle for operating his van in a dangerous manner, as proved by the copy of the Police Report you now have in your possession.
Ole Doc Comforts report (which you have a copy of) indicates you sustained a Whiplash-Type injury to the cervical-dorsal area. Following Doc Comforts instructions (as written into his report) you purchased a heating pad (a copy of the bill you have for proof) which you used for 5 days to help relieve your Pain and Suffering. In addition to the hospital bills, youve also kept copies of the pain killer prescription drugs that Doc Comfort insisted you must take.
Now, enough time has passed for you to sit down with Insurance Adjuster I. M. Smart of GRANITE MOUNTAIN INSURANCE CORPORATION. Smart knows the potential of your developing more physical problems (which can be tied into the accident) is much greater because of your age. No matter which way Smart would like to slice your cake hes aware that you went through a ton of inconvenience plus a solid period of Pain and Suffering which has been sustained within the confines of Doc Comforts written report.
As detailed in THE BASE FORMULA your Personal Injury claim positions itself in the area of THE PREMIUM VALUE. You must aim for a settlement as close to this figure as possible. PLUS the $1,750 Property Damage of your motor vehicle and also the $300 to replace your new wristwatch.
How one can and must proceed to do this (plus THE BASE FORMULA) is detailed in my third and latest book AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM (How To Evaluate And Settle Your Loss) found on the internet at http://www.caraccidentclaims.com or http://www.autoaccidentclaims.com.
DISCLAIMER: The only purpose of this article ~ THE BASE FORMULA ~ A SETTLEMENT EXAMPLE is to help readers understand the motor vehicle accident claim process.
Dan Baldyga makes no guarantee of any kind whatsoever, NOR to substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. Where such professional help is desired it is the INDIVIDUALS RESPONSIBILITY to obtain such services.
About The Author:
Dan Baldyga worked for over 30 years as an insurance adjuster, supervisor, manager and trial assistant. Since his retirement he has written 3 highly successful How To Insurance Claim books. He now spends his time attempting to assist those involved in motor vehicle accident claims, so they will not be taken advantage of.
Copyright (c) 2005 By Daniel G. Baldyga. All Rights Reserved.
Dan Baldyga - Author
dbpaw@comcast.net
AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM
(How To Evaluate And Settle Your Loss)
http://www.autoaccidentclaims.com
For 30 years Dan Baldyga was a Claims Adjuster, Supervisor, Manager and also a Trial Assistant. He is now retired and spends his time attempting to assist those involved in motor vehicle accident claims so they will not be taken advantage of. Mail to:dbpaw@comcast.net
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