Legal Question in Personal Injury in Indiana

No. The insurance company does not have to pay 3 times the amount of your medical bills. I've settled cases for 1 x the medical bills (specials) and I've settled cases for 10 times the medical bills. And yes, I've settled some for 3 times the medical bills. There is no LAW that the insurance company has to settle for any particular sum. What they pay is typically a function of the amount your lawyer is able to negotiate with them.

Some insurance companies have used 3 times medicals as kind of a base for evaluating how much to pay on claims where there is no permanent injury. Others use different formulas. There is no law requiring insurance companies to use any particular method of evaluating claims. I would be glad to discuss your injuries with you and help you evaluate a fair settlement if you would like. Larry

Many years ago, 3 x specials was a benchmark for settlements. With the increased use of computers, higher quality medical testing and procedures, that concept changed. There are now a number of factors that come into play such as the geographic area whee the injury took place ( is it a county where judgments tend to be lower or higher than most), the kind of injury(soft tissue or a fracture), the extent of treatment, lost wages, disability, disfugurement, medical costs, insurance liens and the amount of liability coverage available. Every case is different and your best bet if you have what you consider to be significant injuries is to hire an attorney experienced in injury cases. I hope this explanation helps.