How much should I settle for in a bodily injury claim?

It would be premature to settle the case now because you haven't completed your medical treatment.

When you complete your medical treatment and are released by the doctor or are declared by the doctor to be permanent and stationary, which means having reached a point in your medical treatment where no further improvement is anticipated, obtain your medical bills, medical reports, and documentation of any wage loss.  Your personal injury claim filed with the at-fault party's insurance carrier should include these items.  Compensation for the medical bills is straight reimbursement.  Compensation for wage loss is straight reimbursement.  The medical reports will document the nature and extent of your injury and will be used to determine compensation for pain and suffering, which is an amount in addition to the medical bills.  There isn't any mathematical formula for determining compensation for pain and suffering.  It depends on the facts of the case.  For example, if you are having residual complaints after completing your medical treatment, you should ask for more than if you have no residual complaints of pain or other problems.  If you will need future medical treatment, the estimated cost of that future medical treatment discounted to present value should be factored into the amount of your settlement.  Once you settle the case, you can't go back to the insurance carrier in the future and ask for additional funds.

To compensate for pain and suffering, I would ask for quadruple the medical bills, but NOT expecting to get that.  This would be a starting point in negotiations, and the insurance carrier will respond with a much lower amount.  You can continue negotiating with the insurance carrier.  If you are dissatisfied with settlement offers from the at-fault party's insurance carrier, reject the settlement offers and file a lawsuit for negligence against the defendant (at-fault party).  If the case is settled with the defendant's insurance carrier, NO lawsuit is filed.  If the case is NOT settled with the defendant's insurance carrier, you must file your lawsuit for negligence against the defendant prior to the expiration of the applicable statute of limitations or you will lose your rights forever in the matter.