How doI determine what is an appropriate settlement for personal injuries incurred in a car accident?
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How doI determine what is an appropriate settlement for personal injuries incurred in a car accident?
I was rear-ended by an inattentive driver. What amount of money should I settle for? Medical is $4,330; and auto was $5,880.
Asked on October 5, 2011 under Personal Injury, Wisconsin
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The property damage claim is separate from the personal injury claim. The property damage claim will be the cost of repairs to your vehicle.
When you complete your medical treatment and are released by the doctor or are declared by the doctor to be permanent and stationary which means you have reached a point where no further improvement is anticipated, obtain your medical bills, medical reports, and documentation of any wage loss. Compensation for the medical bills is straight reimbursement. Compensation for wage loss is straight reimbursement. The medical reports will document the nature and extent of your injuries and will be used to determine compensation for pain and suffering. Compensation for pain and suffering is an amount in addition to the medical bills.
There isn't any mathematical formula for determining compensation for pain and suffering. I would ask for quadruple the medical bills to compensate for pain and suffering, but NOT expecting to get that. This would be a starting point in negotiations with the insurance company. The insurance company will respond with a much lower offer. You can then negotiate with the insurance company to try to get them to offer more than their initial offer. If you have residual complaints from your injury documented in the medical report, then you should get more than someone who does not have residual complaints. If you will need future treatment according to the medical reports, that should also be taken into consideration with the estimated cost of the future treatment discounted to present value. If you are dissatisfied with settlement offers from the insurance company, you can reject the settlement offers and file a lawsuit for negligence against the at-fault driver. If the case is settled with the insurance company, NO lawsuit is filed. If the case is NOT settled with the insurance company, you will need to file your lawsuit for negligence against the other driver prior to the expiration of the applicable statute of limitations or you will lose your rights forever in the matter.
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The property damage claim is separate from the personal injury claim. The property damage claim will be the cost of repairs to your vehicle.
When you complete your medical treatment and are released by the doctor or are declared by the doctor to be permanent and stationary which means you have reached a point where no further improvement is anticipated, obtain your medical bills, medical reports, and documentation of any wage loss. Compensation for the medical bills is straight reimbursement. Compensation for wage loss is straight reimbursement. The medical reports will document the nature and extent of your injuries and will be used to determine compensation for pain and suffering. Compensation for pain and suffering is an amount in addition to the medical bills.
There isn't any mathematical formula for determining compensation for pain and suffering. I would ask for quadruple the medical bills to compensate for pain and suffering, but NOT expecting to get that. This would be a starting point in negotiations with the insurance company. The insurance company will respond with a much lower offer. You can then negotiate with the insurance company to try to get them to offer more than their initial offer. If you have residual complaints from your injury documented in the medical report, then you should get more than someone who does not have residual complaints. If you will need future treatment according to the medical reports, that should also be taken into consideration with the estimated cost of the future treatment discounted to present value. If you are dissatisfied with settlement offers from the insurance company, you can reject the settlement offers and file a lawsuit for negligence against the at-fault driver. If the case is settled with the insurance company, NO lawsuit is filed. If the case is NOT settled with the insurance company, you will need to file your lawsuit for negligence against the other driver prior to the expiration of the applicable statute of limitations or you will lose your rights forever in the matter.
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