Insurance Settlement?

Question

I have asked this question once before but did not give all the necessary details. Plus, I would like to see how close your predictions are since I am about a week away from getting my settlement. This is the scenario:
Was involved in MVA - got T-boned by someone who ran a red light and who admitted fault.
Initial diagnosis - Contusion in left shoulder, cervical sprain, lumbar sprain, muscle spasms and related scoliosis.
Therapy - 6 weeks of physical therapy - 3 times per week
Vehicle damage: $7,000.00
Rental Vehicle: $2,458.00
Medications: $158.00
Doctor visits, X-rays, Lab work - $430.00
Physical Therapy: $570.00
Loss of wages: $1,570.00
Loss of wages consisted of one week stay at home - per doctor's note. After return to work the rest of lost wages due to therapy.

How much should my settlement be - considering that I was not able to tend to my infant daughter or her older siblings during the recovery time and/or take care of my household and prepare for Christmas?

My therapy is finished - I am pain free as of 01-12-2007.

I definitely feel that I should get reimburised for pain & suffering...how much would you guys say my settlement should be?

Oh yeah...I am in Texas and like I said...the other party admitted guilt..so, he was at fault.

Someone asked how did I spend that much money on a rental car? Well, it took the mechanics six (6) weeks to fix mine so therefore I was in a rental for 44 days x $49.95 per day = 2,197.80 plus taxes etc....easy!

Answer 1

OK.. lets cover some basics from here in California... Texas law may dictate otherwise so you need to check

1) What's your rush department: You are pain free today.. what happens if suddenly tomorrow this spasm hits? Consider this aspect before you make any final settlement especially with a cervical element involved.

2) Expenses: You are entitled to full reimbursment on expenses that are proven/documented plus minor incidentals (for example parking while you went to therapy, or gas and mileage to visit the doctor). I do not see an 'incidental' expense item in your list

So, factoring a few $ in for that, you should have expenses of around $13k

3) Pain and Suffering (P&S): this is the more intangible side of your accident because pain is hard to quantify. Also there are tangent issues that are often overlooked.

For example (and to be a bit risque): It sounds like you are married or have a partner.. during the six plus weeks there was undoubtedly a time when you did not feel like sharing intimate moments. In theory not only can YOU be compensated for this but your partner could also make a claim. Using this as an extreme, your lifestyle was obvioulsy impacted. Dancing or dining out was not an option, playing with your kids, etc...

There is no way I can do more then guess at this and there is o direct relationship between the level of damage and expenses to the P&S.... so, a ballpark guess would be that, as a minimum, you settle for no less then $25 ot $50k (stress on the minimum). If you are getting substantially less.. then talk to an attorney before you sign anyting.

good luck

2)

Answer 2

This is a difficult question to answer. Insurance settlements are intended to make injured parties "whole". All the expenses you have outlined should be paid in full by the at fault parties insurer generally speaking. Not knowing the auto rules in your State makes it difficult because "no fault" rules may apply making it your insurance companies responsibility to pay your losses. You also have a right to sue the at fault party for your pain and suffering unless you signed a law suit threshold when you purchased your auto policy. Be honest however because expecting a big payday from an insurance company is dishonest if you simply do it for financial gain. So you see it is a difficult question to answer. I wish you luck and hope your situation improves.

Answer 3

You said yourself you are now painfree- this does not appear to be a permanent injury- therefore the other parties insurance owes you no more then your medical bills and lost wages. That being said... id expect maybe an additional 2-3k to get you to go away. Dont expect to get thousands and thousands of dollars as im sure some people will tell you. People set their expectations so high and they dont realize they will not get near what they think.

EDIT: HA... i just had to comment on the guy above who said to expect 25-50k- wtf?!? ARE YOU KIDDING?! you didnt lose a limb.. your back isnt broken.. your going to be fine. People are so selfish it digust me. And regarding the lawyer.... insurance companies DO NOT increase settlements due to lawyers so.. unles you feel like sharing the few thousand you get.. i dont suggest it.

"Pain and suffering" is a lovely little phrase lawyers thought up to make people think they would get more money then they should. By law- insurance companies dont owe you money bc "you couldnt hold you kid for awhile" and stuff. Of course it sucks that you couldnt.. but thats life.. crap happens. You shouldnt profit from it... Seriously... you meds are pretty low... please... dont think your getting more then an extra thousand or two..

Answer 4

As an Insurance Agent - I can tell you that the job of an insurnace company is "to put you back the way you were.."
If you feel that you will need more therapy and medical treatment - don't settle just yet! Once, you sign - there is no way to return and get more money for additional bills and pain!

Answer 5

Get a lawyer, they will squeeze every possible penny

and how did you spend $2458 on a rental car????