correct settlement formula?

[1delxa]

What is the name of your state? N.Y. I am a 40 yr old single male who was attacked at a potential customers house by their dog.the dog has a history of a prior bite,the dog escaped a back room and bit my face ,and in the struggle i sprained my back.I recd stitches to my face, and now a year later have a number 7 looking scar just below my lip 1 1/2 inch by 1/2 inch.i went to pt for 3 months treatment and then was able to return to my on the books job. my question is this..using the formula of 5x med bills + lost income your looking at roughly 50k. after attorney and med fees that leaves me with less than my lost wages. I am not being greedy nor am i lottery searching but i have a valid injury and a scar i have to live with and the max im looking at is not even my lost wages? whats the sense? they have homeowners ins..how do these people get millions for hot coffee? how does that formula differ from a real case..

[PJD40]

All insurance companies have liability policy limits. Most homeowners are anywhere from 100,000-500,000. If you are lucky they may have an umbrella insurance policy, which can bring their policy up to a million. Do you know their policy limits? Of course no adjuster is going to offer you policy and it is there job to give you the lowest possible settlement and your Lawyer should be working to get you a fair settlement for your injuries including lost wages. You should of gotten $500.00 to a $1,000.00 by now for your medical. This pays out no matter what. If the insurer settles you sign a waiver which prevents the homeowners for being sued for more money than their policy is worth and protect their assets. Depending what state you are from you have so many years to file a lawsuit. As far as the hot coffee goes McDonalds is a huge corporation and has major policy limits. I am not sure if that went to court or not, sometimes if you go to court and you win, the money awarded can go way over policy limits and that leaves the defendant assets open for you to have as well, that's why you have insurance and that's why the insurance Co. makes settlements to keep their clients from being sued. What is the policy limits? What is the Max are you talking about? EX: If the homeowner only as $100.000.00 policy that is Max you can get, or you can sue the homeowners and don’t sign any waivers and take your chance in court you may be awarded more, but if the homeowner doesn’t have assets it will be a waste of time, take what you can get and be glad you have that. I know that sinks, buts that's life and that stinks even more. I am not a Lawyer just have done a lot of reading.