Auto Insurance Claims: Release and settlement of claim, doctors visit, sore knee

Question
In January my car was hit from behind sending me in to the truck in front of me. My car was totaled.  I was lucky, I only had a minor scrap on my right shin and bruised my left knee on the dashboard.  The day after the accident, went to to the doctor to have my sore knee X-rayed and nothing was broken.  A short time after the accident, the insurance company for the party at fault offered me %500 to sign a release and settlement of claim form. I refused since my knee was still sore. When I asked my doctor about this, I asked him what would the chances be that something in the future might occur to my knee as the result of this accident.  My doctor wrote back "With your injuries, the likelihood of long-term issues is nil.  I would suggest settling".  My knee is 95% healed now and things are going well.  I was wondering what amount should I settle for?  $500 sounds rather low for signing such a form. Is there an industry average amount that is normal for signing such a form?
Thanks-you

Answer
Hi Daniel,
Unless your medical bills for the doctors visit and x-ray exceeded $175, then the $500 offer sounds fair.
If your bills exceeded #175, you should ask for 3-4 x your bills.

I hope this information is found to be of help.
Your feedback by rating my answer will be appreciated.

Sincerely,
Bennie
San Francisco Bay Area