What is a reasonable settlement for
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What is a reasonable settlement for
I broke my thumb and needed surgery and a cast for 5 weeks. The insurance company has offered me $30,000 as pain and suffering. Should I accept it or talk to someone that knows personal injury law? The other driver was at fault and cited by the police at the scene.
Asked on November 18, 2016 under Personal Injury, Ohio
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
There isn't any mathematical formula for determining compensation for pain and suffering. It just depends on the facts of the case and the extent of your injury as documented in the medical reports.
In order to determine whether $30,000 is a good offer, it would be necessary to know your total medical bills, whether there are any liens that have to paid out of the settlement to medical providers, etc. Also, if your health insurance paid for your medical bills, that company probably requires reimbursement. If that is the case, it would be necessary to determine how much of the settlement would be left for you after paying the above items to determine whether or not it is acceptable.
Also, don't accept the first offer from the insurance company without making a counteroffer that is significantly higher. The insurance company wants to pay as little as possible. Therefore, its initial offer will be much less than it is willing to pay.
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