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Thread: Insurance settlement?

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    #1

    Insurance settlement?

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    A little over a week ago DH was in a motorcycle accident. A lady pulled out in front of him and he t-boned her car. His bike is likely totaled, and he has a broken wrist from it. He asked me to do some research on the average amount he should expect to get from her insurance company for it and, well, Google is failing me.

    I work with a lot of attorneys, so Iím going to ask one or two of them as well, but I was wondering if anyone had any experience with this kind of thing or insurance companies in general and could give me any insight? What kinds of things are factored in to incidents like this? Itís not something that is going to go to court, as the lady admitted she was at fault and was given the appropriate ticket.
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    #2
    why not just call and ask the insurance company?

    Generally its the cost to replace/repair the vehicle and medical costs (current and future as related to the incident).. but I'm not an insurance agent or lawyer, just things I've learned over the years.

    There are 10 types of people in the world, those that understand binary and those that don't
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    #3
    First off, I'm glad he's ok! That could have been so much worse.

    As for the rest, I'd have tried Google, too! Since you work with lawyers, I'd ask one of them since they'd probably know best.



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    #4
    EX was in a serious motorcycle accident involving major brain truama, coma and life altering lasting complications, he received a very large ( think seven figures) settlement.

    I was t boned and recieved a concussion and 2 broken fingers , the insurance company paid for my car, ( totalled) my medical bills ( actualy paid tricare) and paid me 5,000 in pain and suffering and loss wages.

    DD was severly injured, a partially severed tongue, 4 broken ribs, a broken nose and a bruised kidney, we got money for pain and suffering and medical bills ( no isurance), filed a law suit against the ambulance co because they had no child size equipment in the bus, and won a large settlement which we converted to the County ambulance service to help fit the ambulances with the needed equipment.

    in other words it will depend on the severity of injuries. the insurance will pay tricare for the medical bills. and they will pay for the bike, and they may pay a small pain and suffering settlement, but not much I wouldn't think.
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    #5
    Yeah it depends on work missed, medical treatment, mental anguish, etc. When you go to the lawyer you basically just give them all of the info and its on a contingent basis so if they feel you will get something (which you more than likely would) they we handle it from there. Whatever you get the lawyers get like 30 percent.
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    #6
    First off, I am glad that he is okay! You can always get ahold of the insurance company. They will be able to give a more detailed explanation of what is being covered and how much will be covered. Especially for the medical side when I worked at a massage clinic we had to call the insurance to see what would be covered for our patients. Also some insurances will continue to pay for more treatment if the patients needs it. As far as how much he will get back to fix is bike....that I don't have any information on.
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    #7
    You can expect compensation for actually incurred costs, like the motorcycle repairs (or replacement value if totaled), work missed (though if he's AD I'm not sure how that works since he's still getting paid and probably not using up his vacation time/leave), health care costs (again, if he's military there is probably no cost to him, though Tricare might attempt to recoup its costs), etc. Beyond that, with "just" a broken wrist, I would't expect all a huge amount. Gunsgirl's figure of $5000 for similar injuries sounds about right, though it is just a ballpark. Different companies will have very different approaches. And if you don't like their offer, remember that you don't have to take it, though getting a lawyer gets expensive since they take to much of the damages, so I wouldn't go that route unless you are getting well and truly screwed. And even then, I think I'd try to negotiate on my own before I called a lawyer.

    I hope your DH is healed and good as new ASAP!
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    #8
    I'm glad he's okay too, it definitely could have been a lot worse.

    It sounds like I should just have him contact either the insurance company or a lawyer since there are so many varying factors. Thanks for the replies!
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    #9
    If he hires a personal injury attorney he will get a lot more money than if he settles without an attorney. I worked as a paralegal doing personal injury work for several years. On average, people using attorneys get 3x the settlment money in their pockets. Attorneys work on a contingency agreement and usually take 33% of the total. At minimum he should expect to have all of his medical bills, bike repairs/replacement, gas to/from appointments, new bike gear (if needed), lost employment wages, and pain and suffering on top of that.

    For reference, I was rear ended in 2007 and got a settlement of ~$12k using an attorney.

    Keep in mind, he is more than welcome to negotiate the settlement with the insurance company and it's not advised to take the first offer they throw at you.
  10. MilitarySOS Jewel
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    #10
    PPs already put it best. Depends on many factors.
    I didn't use a lawyer. Car was totaled, did physical therapy etc. And I believe I received 50,000. But I still had bills to pay, I paid off my car since my other car was almost paid off.

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