Re: Rear-End Collision: How to Proceed
Do you not have health insurance paying for the medical bills with you just paying a smaller percentage?
I'm thinking if you take the $125k, then the lawyer will take 1/3 leaving you with $83,250. If you have health insurance, pay your portion and walk away with the rest. If you have to pay all the medical bills, you can negotiate them down a considerable amount and probably still walk away with ~$40k or so.
If you go to court, you will likely get a larger judgement and the lawyer will take closer to 40%. Then good luck turning that piece of paper (judgement) into actual cash in your hand. Your medical bills will still be due the entire time you are trying to even get into court. You'll pay them out of pocket or ruin your own credit.
The sad thing is you carry a decent amount of UM coverage. It's not like you didn't have any or only the minimum. You may in the future consider raising it to 250/500 though. I would still think if you had the ability to carry that much coverage, you should have some kind of health insurance paying the medical bills.
On a side note, I am going through nearly the same thing. I had torn labrum from a wreck last year, first surgery failed, second surgery was total reconstruction. The doctor told me Tuesday that if I didn't make better progress in therapy over the next month that he'd start me on injections. I think that's likely and I'm not looking forward to it. My medical bills are being paid by worker's comp, but the person that hit me also has low limits. I have an open UM claim but luckily I was in a company car. Since it's owned by a major insurance company, it could technically be one of the most insured cars in the country. If I wasn't in the company car and wasn't a worker's comp claim, I'd have been screwed. My own UM coverage was 100/300 and my medical bills alone have passed $100k. Yes, I have good health insurance, but I've been off work for months too. I have since raised my own UM coverage.
Insurance Adjuster - Auto Property Damage