What do most people recieve for a settlement?
by Kristina
(eugene,OR,USA)
I was waiting for traffic to pass, had blnker on was waiting to make a left turn. I was rear-ended by other driver who said "Did not see me". Speed was 35mph, and swerved and damaged both cars and I had personal injuries. Went to Emergency room that evening, took x-rays had physical therapy for 2 months and now the insurance is ready to settle the claim.
I am wondering, what is the claim amount i should be persuing?
Hi there, Michelle here...
Before I answer your question, I would like to say a few things...The insurance company does not get to decide when you settle. YOU always are the one to decide.
The reason for this is because only you and your doctors know when you are finished treating and your injuries are healed. If you are finished and no longer in pain, and your therapists support that as well, then yep it’s time to settle.
I would say two months after a rear-end accident in which you were hit around 35mph, that likely your injuries may need just a bit longer to heal. However, if you are out of pain and back to all your normal activities, that is all that matters.
So, settlement. Always the most complicated question.
The starting point is generally 3x the medical bills. This is a place for you to start with an offer. It is always easier to start high and come down, but if you start to low with your offer, its just very hard to go higher. If the insurance company starts with an offer, it will be their lowest one.
So, know you can always go up. It is a negotiation, not a black and white number. The insurance company will tell you they cannot go any higher and try to make you feel guilty, or they can try to make you feel like you are greedy or any number of festive tricks to force you to take a smaller settlement.
So, have a number in your mind which will make you happy that is lower than 3x the medical bills and higher than your grocery bill. Work to get the company to this number. If you feel that they are not being reasonable, or they are not budging, then it is time to talk to a lawyer.
A consultation with a lawyer is always free, and easy. Although I don’t think in your case you will need one, I am including a link to finding a lawyer here, just in case someone needs one who is reading this.
click here, scroll down just a bit and fill out the form.I hope this helps a bit, good luck! M.