What type of settlement should we expect? Wife got rear-ended in our 1999 Toyota Corolla (~90,000 miles) in October 2011. State Farm considered the car totalled and gave us ~$5,200 for the car (I had just spent about $2,300 to paint and replace parts on the car and State Farm said they gave the car the highest condition allowed because of how well I had taken care of it). I couldn't find another 1999 Toyota Corolla with the same low miles and in as good a condition so decided to buy a newer car for about $13,000 (2010 Hyundai Elantra). Wife received some whiplash and was treated by a chiropractor that she has seen in the past. Chiropractor feels she is back to where she was before the accident. Cost of the chirporactor was just over $1,000. Wife is a stay at home mom so did not miss any "paid" work, but she did have some headaches, soreness and pain on and off for a couple months. State Farm is offering a settlement of $3,000 and says we can take until October 2013 to respond. Is this a fair settlement or should we be countering with a higher settlement?

About The Expert

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. She co-founded United Policyholders in 1991 and serves as the organization's Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous publications including "The Disaster Recovery Handbook", "WISE UP: The Savvy Consumer's Guide to Buying Insurance" and consumer tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach is in her eighth consecutive term as an official consumer representative to the National Association of Insurance Commissioners, and is a member of the Federal Advisory Committee on Insurance.