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how much of an insurance settlement can I expect from a car vs bicycle collision. Car was at fault, and I am suffering from documented post concussion syndrome, and have a keloid scar behind my ear. Driver had geico insurance and they immediately gave me a check for 10k. I am now asking for my limit on my uninsured motorist coverage which is 100k. So what kind of offer can I realistacally expect from insurance company?
Optional Information: State/Country of Question: Florida
if your uninsured motorist coverage covers you while riding a bike, then a realistic settlement would be taking the amount of your medical expenses and adding in any lost wages. Then multiply that number by a factor of 1-4 and then add that number back into your medical and lost wages, this would give you the total value of your claim and then you would subtract the $10K already received and that would be what you could realistically expect.
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What do u mean factor of 1-4? Do u mean multiply by any number 1 through 4? I also have documented tinnitis(ringing in ears). I am a speach therapist, and this affects my career.
The general guidline depends on the severity of the injury and the lasting effects, the more severe your injury and the more lasting effects, you would use a higher number, since this is impacting your career and has been lasting so long, I would suggest starting at multiplying it by 4 and that will give you room to negotiate.
medical bills are already being paid by insurance company??? i didnt miss any work, but I suck at work. Neurlogists has documented post concussion syndrome. ENT has documented chronic severe tinitis. Si according to your formula( I am not criticizing your reply, I know the law is the law....), I would get a settlement of Zero
It doesn't matter if the bills are being paid by insurer, the amount of those bills is still used to calculate your pain and suffering. And if the medical bills are being paid by Geico, you just subtract that from your total after you determine the value of your claim. If the medical bills are being paid by your medical insurance, then you would still include them because the medical insurer is entitled to reimbursement for the medical expenses.For example:Meds - $10,000no lost wagesyour total value of your claim would be $50,000 (multiplying it by the 4), then if the car insurer is paying medicals, subtract the meds from that, so your pain and suffering would be about $40,000 based upon that severity of 4. Of course, the 4 is the high end value of your claim and it may realistically only be worth maybe $20K-$30K, but you need room to negotiate.
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law