Is this fair compensation or not???

If the insurance company is making that offer you can bet your ocks its NOT. My wife had a slip and fall and injured her spine. They tried to offer her a measily $10,000 to go away. No way, we sued and ended up with $120,000. She had medical bills out the , and suffered for two years with tests and medications then was out of work for 8 months due to spinal surgery.