settlement amount?

[dave567]

Florida.
Hello,

I was broadsided by a red light runner. Other driver was cited for the accident.
I have a broken arm. I have a bulging disc in my neck.
I am going to therapy 4 times a week.
I do have an attorney.
How can I calculate a settlement amount in a rational and educated way??
Thank you.

 

[ALawyer]

Ask your attorney.

There is an old rule of thumb that says a typical settlement is 3 times the out of pockets - total the medical bills, the loss of wages (imputed or otherwise) and any other related expenses and multiply by 3. But if there is a permanent injury or severe pain, that can be much higher. Or if the bills are inflated it can be lower.

So much depends on where the accident occurred -- if it is the Bronx, NY where juries tend to be generous with other people's money, insurance companies settle for more, while in more conservative locales, where juries are likely to award less, they are far less likely to settle for as much.

The other issue involved is the possibility of any contributory negligence on your part that increases the other side's bargaining power.