“I was in an auto accident in October of 2022. I was the passenger in the vehicle. The vehicle I was in was struck in an intersection after the driver of the vehicle I was in ran a red light. The impact was on the passenger side where I was sitting.
It was determined that I had a large disc herniation in my lumbar spine L4/5. Concussion, sciatica, nerve pain, and loss of mobility due to the disc herniation. I lost my job in January of 2023 as I was on such tight restrictions my employer could not accommodate me any longer. I had surgery to correct the disc herniation about a month ago and I am still on tight restrictions until August of 2023.
The insurance company’s first offer was a payout to me for roughly $10,000. The lost wages for the past and future until recovery is over is roughly $25,000. (Mind you, their payout was only based on the medical bills from the ER on the date of the accident. They had just received the lien from my health insurance with the total cost of treatment to date.)
The total cost of medical treatment billed to my health insurance was roughly $79,000 for treatment from 10/2022 – 4/2023.
I am having a hard time trying to determine what a reasonable settlement amount would be for me to propose. Does anyone have any tips or advice for how I should negotiate?”
Citation: Reddit
by u/ml131550 in legaladvice
“This reads to me the insurance company is trying to take advantage of an unrepresented party. Absent a VERY exceptional circumstance the 10K offer is grossly insufficient given the surgery and lost wages. The above opinion assumes the crash happened in Kentucky.”
Helpful Tips:
1. Consult a Personal Injury Lawyer: This is a complex situation involving significant medical costs, lost wages, and ongoing health issues. A personal injury lawyer can help you navigate the legal complexities and negotiate with the insurance company on your behalf. They can also help you understand the full extent of your damages, including those that may not be immediately apparent, such as future medical costs and pain and suffering.
2. Calculate All Your Damages: This includes not just your medical bills and lost wages, but also future medical costs, future lost wages, and non-economic damages like pain and suffering, loss of enjoyment of life, and emotional distress.
3. Don’t Accept the First Offer: Insurance companies often start with a low offer hoping you’ll accept it. It’s usually a good idea to reject the first offer and negotiate for a higher settlement.
4. Document Everything: Keep detailed records of all your medical treatments, lost wages, and any other costs related to the accident. This will be crucial evidence in your negotiations.
5. Consider Future Implications: If your injuries have long-term implications, these should be factored into your settlement. This could include ongoing therapy, future surgeries, long-term care, and any modifications needed for your home or car.
6. Be Patient: Negotiating a settlement can take time. Don’t rush into accepting an offer just to get it over with.
7. Remember, every case is unique, and what works for one person might not work for another. It’s crucial to get legal advice tailored to your specific situation.
8. Understand Policy Limits: It’s crucial to determine the insurance policy limits of the driver at fault, as the insurance company will not disburse more than this amount. If the driver is underinsured, you’ll need to weigh the feasibility and potential benefits of a lawsuit. Keep in mind that even if you win a judgment, the defendant may lack the assets or income to fulfill it. Unfortunately, it’s not uncommon for individuals with claims worth $250k or more to receive significantly less due to these insurance policy limits and the financial circumstances of the defendant.
9. Consider Legal Representation: While you might be hesitant to hire a lawyer, doing so could significantly improve your chances of receiving a fair settlement. Currently, the insurance company has little motivation to meet your desired settlement amount, as you’re not incurring any costs for them. However, if you engage an attorney who files a lawsuit, this creates legal expenses for the insurance company. The prospect of potentially having to pay both a fair judgment and substantial legal costs can incentivize them to negotiate more earnestly.
Every case is different and this information may not apply to your case. Consultations at Dettman Law are always free and we don’t get paid until there is a recovery.
