Expert: Richard L Carranza - 7/18/2005

Question
I live in Arizona and was injured in a car accident that was the other person's fault. My car was also totalled, but we have already settled on the amount for the car's replacement.

My medical bills and loss of income have come to just around $5,000.  The other insurance carrier has accepted all receipts and has offered me $6,700 - the additional $1,700 for my pain and suffering.

I have heard that a standard settlement like this would be 3 times the amount of my bills plus reimbursemet for the bills.

I was expecting a settlement of approximately $10,000 - $15,000.  Is this realistic? Is there an industry standard percentage for pain and suffering to expect for situations such as this?

Answer
There is NO "standard settlement" and FORGET about the "3X's" bit as that is NOT the way it works.

The value of your claim is based on the nature and extent of your injury(ies) and how they were treated and over what period of time and finally whether you have returned to your pre-loss health status or are left with some permanent/residual injury.....

When did you first treat following the accident?

What where the nature and extent of your injury(ies)?

Break-down your medical as follows:

MD's (how many OV's and over what period of time)
Chiro (how many OV's and over what period of time)
Physical therapy (how many sessions and over what period of time.
Diagnostic (X-rays and the such)
RX's

Have you been left with any permanent injury(ies)?

What carrier are you dealing with?

Are you in a No-Fault (Personal Injury Protection) state?

If not, have your medical bills been paid in part or in whole by your auto carrier (Medical Payments coverage) or your HealthCare Provider?  If either, have they asserted a lien?

When you say you car was totaled was that due to a moderate-sever impact and resulting damage (x of $5,000) or was it because the car was older and had a low Actual Cash Value (ACV)?

Get back to me with the answers and we'll go from there...