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Auto Accident Settlement?
I was involved in an auto accident in August, and it was determined that I was not at fault. The other party involved was driving a commercial van with an expired insurance policy. As a result, I filed a claim with my insurance company under my Uninsured Motorist Policy, which has a coverage limit of $50,000. My insurance company has already taken care of the damages to my vehicle and provided $2,500 under my Personal Injury Protection (PIP) for my medical expenses.
Unfortunately, I suffered a lumbar herniated disc and a “soft tissue injury” to my mid-back and neck. Excluding the PIP coverage, my medical costs totaled $10,500, including expenses for MRI scans and X-rays. Although I initially decided not to hire a lawyer, I reached out to my insurance company to discuss a settlement once I no longer required continuous treatment.
The initial settlement offer was $7,500, which was later raised to $10,000 during our conversation. However, these amounts still do not cover my past and future medical expenses. Recently, the insurance company offered $11,000 as their maximum offer, but I declined because it does not adequately compensate me for future treatments or the limitations I now experience. It’s worth noting that I underwent three months of treatment for my injuries, and I continue to experience significant pain when I move incorrectly or attempt to lift things. Furthermore, since the accident, I have incurred $1,000 in home repairs that I would have otherwise completed myself.
Now, my questions are as follows: Is the current offer fair? If not, what would be a fair counteroffer? Or should I consider hiring a lawyer? It’s important to note that I am not seeking to profit from this situation, as I understand that it was an accident. However, I do not wish to pay out-of-pocket for future treatments or bear the consequences of being unable to perform activities I previously could.
I am also curious about when the insurance company typically presents their final offer or reaches the maximum amount for a claim. I have medical insurance that has covered a portion of my expenses, but I will need reimbursement following the settlement.
Thank you for your assistance.
Best answer:
Thank you for providing detailed information about the accident. It’s not entirely clear whether the other party involved had insurance or not. However, it seems that your insurance company has taken care of all the necessary aspects and is now offering you a settlement.
In my opinion, your insurance company has done an excellent job by covering the damages to your car and your injuries. Considering that you have uninsured motorist coverage, you would have received nothing if you didn’t have this policy in place. Once you accept the settlement, your insurance company will pursue legal action against the other party to recover their expenses.
Based on the information you’ve provided, it seems that your insurance company has been more than fair in their offers. They will only pay you up to the limit specified in your policy. It’s possible that some details may be missing from your account, but if that’s not the case, I would recommend accepting the settlement. It sounds like you have a great insurance company, and I’m curious to know which one it is.
Please note that the above response is based on the information provided and should not be considered legal advice. Consulting with a personal injury lawyer can provide you with a more accurate assessment of your situation and help you determine the best course of action.
Personal Injury Law