Legal Question in Insurance Law in Virginia

Settling a Bodily Injury Claim

In Oct 2001 I was involved in a car accident that wasn't my fault. Unfortunately, the other driver fled the scene and my insurance company covered the car repair (@$6K) and all my medical expenses (@$6.5K) due to fractured elbow and surgery, and lost wages (@$2.5K). Several months ago my insurance company advised that I was entitled to a cash ettlement to cover pain and suffering and special damages. They asked me to come up with a dollar figure that I felt was fair and reasonable. Having no idea how to arrive at an amount I contacted a couple of independent Insurance Adjusters for advice and they both said I should settle for $25K-$30K. However, my insurance company has advised they will not go any higher than $18K and want to know if I will accept that offer and if not, what are my plans. I need legal advice please. Is their offer of $18K fair and reasonable? Would it be worth my while to hire an attorney to handle my case?


Asked on 4/21/03, 6:52 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Settling a Bodily Injury Claim

The independent insurance adjusters whom you consulted probably based their estimates on roughly three times your actual compensatory damages (medical expenses and lost wages) $9K X 3 which is an industry guideline of sorts in determining these kinds of damages.

Only you know the nature and extent of your pain and suffering and whether you incurred any special damages beyond what's been mentioned.

If not and your pain and suffering was of a moderate nature, you might want to see if your insurance company would agree to settle for $20K or thereabouts.

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Answered on 4/21/03, 8:11 pm


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