QUESTION
How do I know how much to settle my accident for and where to start?
Asked on May 21st, 2015 on Personal Injury - Montana
More details to this question:
How do I calculate when to settle with the insurance company when the medical bills from the hospital and outpatient were around $9.500? I probably lost a couple hundred in wages.
11 ANSWERS
Personal Injury Attorney serving Salt Lake City, UT
at
William Enoch Andrews Injury Lawyer
Update Your Profile
For your own benefit, immediately contact an injury lawyer to evaluate your case and if taken, represent you in the case without any money coming from you. The reality is most insurance companies jerk people around who are not injury lawyers. As injury lawyers, we represent our clients and help them get their healthcare bills paid and get the best financial compensation they can get on their case.
Answered on Jun 02nd, 2015 at 1:42 PM
Auto Attorney serving Bloomfield Hills, MI
at
Gregory M. Janks, P.C.
Update Your Profile
If you have counsel, ask them what they think the range of possible settlements may be. If you don't have counsel yet, it is typical that you can have a free consultation with a local lawyer that regularly handles the type of case you have. You really don't have enough liability or damage facts to give you any reasonable answer to your question. You may be asking about insurance company settlement practices in which they use a "multiplier" and apply it to your economic damages. The multiplier approach can vary from insurer to insurer, and whether they even use it any more, and will vary with the type of case, the extent of liability, the extent of damages, etc. In it's simplest form, and if the insurer uses a multiplier, then you select the multiplier x your listed economic damages.
Answered on May 25th, 2015 at 1:09 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
First things first: your best bet is to consult a personal injury lawyer: such people know how to identify item of damages of which lay people are usually unaware. That said, there is a rule of thumb (which is not universally followed, of course) that you add up all your damages which can be measured in dollars medical bills, lost wages, expenses to have other people do things for you, etc. etc.and multiply by three. Please keep in mind that health insurers often have subrogation rights, meaning you have to pay them out of your settlement proceeds. They will sometimes discount their claims somewhat. Good Luck.
Answered on May 22nd, 2015 at 9:56 AM
Ronald A. Steinberg
Not enough information. There is a difference between the value of your injury and the value of your case.
Answered on May 22nd, 2015 at 9:13 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
at
Andrew T. Velonis, P.C.
Update Your Profile
If you have to ask that question, you have no business representing yourself. You mention that you have medical bills. That tells me that you were treated by doctors, nurses and other trained professionals, you didn't just go on the 'net and ask "how do I treat my injuries" Is it better to have your liability claim handled by someone who has had years of higher education, licencing and experience, or by someone who clearly has no idea what he is doing? These insurance people are not your friends. and they have professional claims adjusters, managers and lawyers on their side. You are seriously out-gunned. Admit it.
Answered on May 22nd, 2015 at 7:47 AM
Edwin K. Niles
Almost every day we get a request for evaluation of a claim. We cannot respond to such a request, as there are simply too many elements to be considered. These include percentage of fault, age and health and background of the claimant, the nature of the injury, the treatment, the diagnosis, the prognosis, the cost of the treatment, and the outcome. Also to be taken into account in some cases are the amount and type of insurance coverage and the name of the insurance company. Most attorneys offer a free conference. We suggest that you talk to a few lawyers. Also, you should know that an independent study showed that claimants did better, even after fees, with a lawyer than without.
Answered on May 22nd, 2015 at 12:20 AM
Thomas Edward Gates
Start at $50K, do not settle for less than $25K. Getting a personal injury attorney to handle the matter will result in a larger return. Insurance company's low-ball settlement offers to those not represented. Good luck.
Answered on May 22nd, 2015 at 12:13 AM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
Without additional information it is impossible to tell. Clearly it should be at least your medicals and lost wages but there are other factors.
Answered on May 21st, 2015 at 6:27 PM
1 Award
Unless you are willing to settle your claim for less than it is worth, you should find a personal injury lawyer to represent you. The lawyer will know how to evaluate your claim. The insurance company will not pay you fair value unless you have a lawyer.
Answered on May 21st, 2015 at 6:15 PM
James Eugene Hasser
Case values vary widely from case to case and place to place. It is the job of an experienced injury lawyer to be familiar with values. Consider consulting one. Good luck.
Answered on May 21st, 2015 at 6:15 PM
Plaintiff Animal Bites Attorney serving Missoula, MT
at
Bulman Law Associates PLLC
Update Your Profile
$28,000.
Answered on May 21st, 2015 at 6:05 PM