The Law Office of Chad Stavley reached a settlement totaling $525,000 for a Portland construction worker injured in a car accident in Clackamas County. The man was on his way to work in a full-size pickup going approximately 55 MPH when another full-size truck took a last-second left turn causing a significant-impact head-on crash. The construction worker suffered a compression fracture in his thoracic spine and a disc herniation in his cervical spine. The back fracture resolved after a few months. The disc herniation resolved in about a year.
The construction worker hired the Law Office of Chad Stavley. The at-fault driver had a minimal insurance policy - $25,000 – and no assets. The driver’s insurance company paid their limits immediately. The construction worker had underinsured motorist coverage with Liberty Mutual Insurance. Liberty Mutual did not think this was a significant case. They initially offered only $115,000. Chad advised the construction worker to decline that offer, and he did. As the scheduled trial drew nearer, the parties attended a settlement conference. Liberty Mutual offered $200,000 and stated that it was all they would ever offer. Chad advised the construction worker to reject that offer too. Once the trial was only weeks away, Liberty Mutual increased its offer significantly to $400,000. Chad again urged the construction worker to reject the offer, and he did. The week before the trial, Liberty Mutual increased their offer again to $500,000 for a total settlement of $525,000.
The lesson from this case is to be firm in your valuation and do not let the insurance company push you around. Chad assessed the value of the case early on and did not budge.