My wife was hit by another car about a year ago. She broke two fingers quite badly. She had 2 surgeries, temporary pins, and a year of physical therapy. Now the insurance company is ready to settle.
We added up all of her medical bills and found them to be about $40k. They paid $20k to the appropriate places, and another $20k to our personal insurance. Also, about half of the bills were for physical therapy; the other half was surgeries, ER visit, doctors' bills, etc.
How much of an insurance settlement should she expect to get *on top of* the coverage for the medical bills?
Details:
It was the ring finger and pinky on her non-dominant hand. She'll have permanently restricted movement in half of that hand. There's also some scarring and permanent (pretty mild) swelling. However, she's 24 and still in school, so there was no loss in income; and it shouldn't affect her ability to do any work in her field. She does have trouble doing things like wielding a knife and fork, though
2007-01-12 05:10:47 · 13 answers · asked by Anonymous in Business & Finance ➔ Insurance
I'm talking pain and suffering money, and we haven't settled yet -- we're just going to be settling soon.
I'm not looking to get rich and milk these guys for all they're worth or anything, I just want my wife to get fair compensation.
2007-01-12 05:26:16 · update #1
No, we don't have a lawyer.
2007-01-12 05:32:48 · update #2
I understand what you are asking.....and the details you have provided are very helpful, so my advice to you on this is different from what I've provided in the past regarding b.i. settlements.
There is no hard & fast rule that tells you how much a an injury is worth. With that said....
Hand injuries to the non-dominat hand are worth less than had it happened to the dominat hand. Additionally, there is more value to a thumb than the ring/pinky finger (because the thumb is what help supports gripping action/motion).
Come up with a number, no matter how outrageous you think it may be and tell the insurance company that's what you want. BE PREPARED TO NEGOTIATE....the insurance company will counter with THEIR lowest figure.....your job is to talk them up to their highest number. You'll know when you've reached because they won't budge at all.
Every adjuster's tactics are different, and because injuries and the value of the injury is subjective, you have to be willing to work with them. Whenever I'm settling injuries, I'm at my highest when I say "I can't go any higher than that, this is the best I can do." When I've got room to work with, I say "Based upon what I'm looking at in the reports, I'm seeing a value of X. Am I missing anything?" This usually gets the other person to release additional info I may not have been privy to, and then I raise my offer.
Considering the amount of bills incurred, if it were ME, I would ask, at the MOST.....$250K. I personally would not accept anything LESS than $120K.
Keep in mind however, once you've agreed on a settlement and sign the release, that's it...it's over. If your wife has any future treatment needed, you need to secure documentation from the doctors and ask for this too. If the insurance company asks you for an IME (independent medical exam), comply. It's a pain, but do it anyway because most likely the IME will validate what you're asking for in future treatment.
Whatever your settlement is, make sure you are CLEAR on what the cash in your pocket amount is. You don't want to settle for $80K, find out later they offset this amount by the meds currently paid out, and then you get a check for $40K. Make sure are completely on the same page as the insurance company regarding what the money is for.
2007-01-12 09:45:20 · answer #1 · answered by bundysmom 6 · 0⤊ 0⤋
First off do you have a lawyer? Second it is not relevent whether her current carer of choice will be affected, because if she so decides to change later she may be limited to what she can do. Third she has lost an ability to something she was born with. Fourth there needs to be a settlement amount for any future medical bill or treatment that may come forth. On top of all that, all her medical should be payed in full and yes there should be compensation for pain and suffering. Her time she has spent in and out of Dr.'s etc. could have be spent otherwise, but do to an accident she was not able to spend her time doing as she would have chosen. Don't be afraid to let them know that she is a valuable human that has been affected by a mistake she did not make. Good luck to you two.
2007-01-12 13:30:24 · answer #2 · answered by Miss Informed 3 · 0⤊ 0⤋
Well sounds like there isn't much needed for future bills - but you should have gotten about 20k for pain and suffering. Each case is different but she is effected for the rest of her life. I for one would not take 20k to have my two fingers broken so bad I needed two surgeries and still wasn't made whole.
Did you sign any releases? You shouldn't have signed any releases as this restricts you from suing for more or even claiming more. And insurance companies don't ever pay out a dime without you signing a release - so odds are you can expect zilch if you signed the release already.
2007-01-12 13:17:31 · answer #3 · answered by Christopher McGregor 3 · 0⤊ 0⤋
It sounds like the insurance company has not given you any problem with accepting liability in the accident. The hiring of an attorney will increase the amount of the payout, generally, but then they will take 1/3 plus expenses and their fee.
The insurance company will ask a doctor for an "Impairment Rating", meaning the amount of disability she has received as a result of the injury. This will be taken into consideration when they consider what kind of an offer to make to you. In return they will ask you to sign a full and final release.
So, be very careful with the amount you accept as it will be all you get, for ever....
2007-01-12 17:34:28 · answer #4 · answered by bearmeister34 2 · 0⤊ 0⤋
I would not ever guess. TALK TO A LAWYER. The insurance might give you an extra $10,000 and you sign papers to not being able to resue and so forth. Then later you learned you could have sued for 10x more. Happened to my cousin. And I told the dumb s""t what to do , but he was happy with the big money in his hand. If he had used a lawyer, the lawyer would have kept about $35,000 max and he would have had $65,000. Insurance companies know this, but they will not tell you.
2007-01-12 13:18:00 · answer #5 · answered by Big C 6 · 0⤊ 0⤋
It does depend on the state and those laws governing, but in IN the common pain and suffering amount is 3 times the medical bills.
2007-01-12 13:29:18 · answer #6 · answered by jcollins_24 2 · 0⤊ 0⤋
The insurance would normally only cover the bills that they are liable for. You would have to sue the person responsible for the physical disruption and any mental/emotional anguish your wife may have suffered as a result.
2007-01-12 13:14:58 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I'd guess $10,000 tops, as she's going to eventually make a full recovery, being young and all, and it's NOT equivilent to being in a wheelchair for a year or anything.
2007-01-12 17:37:24 · answer #8 · answered by Anonymous 7 · 0⤊ 0⤋
The damages you are talking about are probably "non-economic" damages - or pain and suffering. It depends a lot on what jurisdiction a suit would go to.
2007-01-12 13:16:57 · answer #9 · answered by urrrp 6 · 0⤊ 0⤋
It sounds like you didn't get any additional money. Do you contact a lawyer. It may be too late. Get a lawyers advice.
2007-01-12 13:21:02 · answer #10 · answered by shorte716 6 · 0⤊ 0⤋