How do I know how much to settle my accident for and where to start? 15 Answers as of June 02, 2015

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.

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Utah Injury Lawyer
Utah Injury Lawyer | Will Rodgers
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.
Answer Applies to: Utah
Replied: 6/2/2015
Gregory M Janks, PC
Gregory M Janks, PC | Gregory M Janks
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.
Answer Applies to: Michigan
Replied: 5/25/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
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.
Answer Applies to: Wisconsin
Replied: 5/22/2015
Law Offices of Ronald A. Steinberg & Associates | Ronald A. Steinberg, BA, MA, JD
Not enough information. There is a difference between the value of your injury and the value of your case.
Answer Applies to: Michigan
Replied: 5/22/2015
Curry, Roby & Mulvey Co., LLC
Curry, Roby & Mulvey Co., LLC | Bruce A. Curry
There is no definitive calculation to evaluate a personal injury claim. The value of a claim is based on a number of factors including liability, the type of injury incurred, the effect of that injury on the plaintiff, pain and suffering incurred, whether the injury is permanent, the plaintiff's effectiveness as a witness and finally, the venue where any eventual suit would be filed. Some venues are very conservative, some are very liberal. So, assuming that in your case liability is clear, you obviously would start negotiations at your medical bills + lost wages, but from that point, the rest of the negotiations would be exactly that, negotiations. Your best bet is to hire an experienced attorney who can evaluate all of the relevant factors.
Answer Applies to: Ohio
Replied: 5/22/2015
    Andrew T. Velonis, P.C.
    Andrew T. Velonis, P.C. | Andrew Velonis
    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.
    Answer Applies to: New York
    Replied: 5/22/2015
    The Law Offices of Russell Gregory, P.C.
    The Law Offices of Russell Gregory, P.C. | Russell Gregory
    Are you talking about settling just with your own insurance company, for first-party benefits (medicals, lost wages, etc.), or is there a third-party claim, as well, against the other driver's insurer, for your injuries?
    Answer Applies to: Michigan
    Replied: 5/22/2015
    Gates' Law, PLLC | Thomas E. 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.
    Answer Applies to: Washington
    Replied: 5/22/2015
    Adler Law Group, LLC
    Adler Law Group, LLC | Lawrence Adler
    To settle properly a lot more information is required. Have you obtained a permanent impairment rating? Have you reached maximum medical improvement? Are any of the medical bills paid by insurance? Is liability an issue and how did the accident happen? And insurance company usually will give a lot more money to an attorney since they know suit can be filed if the matter does not settle and Attorney will work up the claim for maximum recovery.
    Answer Applies to: Connecticut
    Replied: 5/22/2015
    Law Ofices of Edwin K. Niles | 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.
    Answer Applies to: California
    Replied: 5/22/2015
    Ty Wilson Law | Ty Wilson
    Contact a personal injury attorney all medical expenses are not the same.
    Answer Applies to: Georgia
    Replied: 5/22/2015
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Without additional information it is impossible to tell. Clearly it should be at least your medicals and lost wages but there are other factors.
    Answer Applies to: Michigan
    Replied: 5/21/2015
    James E. Hasser, Jr. P.C.
    James E. Hasser, Jr. P.C. | Jim 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.
    Answer Applies to: Alabama
    Replied: 5/21/2015
    End, Hierseman & Crain, LLC | J. Michael End
    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.
    Answer Applies to: Wisconsin
    Replied: 5/21/2015
    Bulman Law Associates PLLC Injury Law Firm
    Bulman Law Associates PLLC Injury Law Firm | Thomas Bulman
    Answer Applies to: Montana
    Replied: 5/21/2015
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