QUESTION
Are settlements based on age of vehicles?
Asked on Jun 17th, 2013 on Personal Injury - Michigan
More details to this question:
I would like to know if accident settlements are based on the age of the vehicle involved or is it just from the amount of insurance the offender has?
11 ANSWERS
Personal Injury Attorney serving Midvale, UT
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Arrow Legal Solutions Group, P.C.
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The age of the bugle is one of the considerations taken into account to determine its value if the vehicle has been totaled. It's a matter of considering all factors to determine the value of vehicle at the time of the accident.
Answered on Jun 18th, 2013 at 12:49 PM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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Age and value and condition
Answered on Jun 18th, 2013 at 9:51 AM
Ronald A. Steinberg
Settlements are based on the value of the injury and the strength of the proof of fault.
Answered on Jun 18th, 2013 at 9:51 AM
James Eugene Hasser
Presuming you are talking about a car wreck case where there are no injuries and property damage only, then, yes, sort of. If the car is totaled, the age of the car, along with other factors determine the value of the car. If the car is repairable, then its age is not so much of a factor as is the cost of repair. Good luck.
Answered on Jun 17th, 2013 at 9:55 PM
Auto Attorney serving Bloomfield Hills, MI
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Gregory M. Janks, P.C.
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If you are talking about collision damage to a vehicle, an insurer will either pay to repair the vehicle or for the value of the vehicle as of the time just before the crash. It is YOUR vehicle insurer who pays a collision claim per the Michigan No Fault Law. Under collision coverage there is no "limit", but there may be a deductible if that is what you purchased and paid for.
Answered on Jun 17th, 2013 at 9:55 PM
Brain Injury Attorney serving Baton Rouge, LA
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The Lucky Law Firm, PLC
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If you are referring to a settlement of property damage, then the age of the vehicle may have an impact on the value of the vehicle. However, if you are referring to a bodily injury settlement, then the age of the vehicle does not directly affect the settlement. Someone may have less insurance on an older vehicle, but that does not affect anything except for possible policy limits.
Answered on Jun 17th, 2013 at 9:55 PM
Monica Cecilia Castillo-Barraza
Usually not, but rather on the damage to the vehicle, in part. There is no rule or requirement, though, and each claim/case is different.
Answered on Jun 17th, 2013 at 9:54 PM
Personal Injury Attorney serving Beverly Hills, CA
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Hyp Law Group
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No it is not. For years, personal injury attorneys have been blaming bad faith tactics by the insurance carriers. Recently CNN?s Anderson Cooper conducted an undercover investigation into these tactics. If you have any doubt that you will require the aid of an attorney to resolve your claim and or to be compensated adequately for your damages, we ask that you take a few minutes and review these four links below, in the order they appear. If you are unable to click on the link, please cut and paste them on your browser and then watch them.
Answered on Jun 17th, 2013 at 9:54 PM
1 Award
Settlements are based on the facts of the accident, e.g., who was more at fault, and on the damages suffered by the party less at fault. The extent of insurance coverage only comes into play if the damages are so big that the insurance may not pay for all the damages.
Answered on Jun 17th, 2013 at 9:54 PM
Thomas Edward Gates
It is based upon the condition of the car, up to the policy limit.
Answered on Jun 17th, 2013 at 9:54 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Settlements are based upon the amount of damages which were incurred due to the wrongful actions of the other party or, in Michigan, which is a no-fault state, the damages incurred by the insured provided he had purchased the correct coverage.
Answered on Jun 17th, 2013 at 9:53 PM