what is a fair settlement?

I was out my usual morning bike ride following a bike path, I was crossing at a marked crossway at an intersecting road with a stop sign for traffic on that road. A car came to a stop with the right of way belonging to me. As I was crossing, the driver of the car lunged forward hitting me and knocking me into the oncoming traffic lane. Luckily the traffic was able to avoid me.I suffered scraps and bruises but otherwise was ok and did not need medical attention. My bicycle was damaged to the tune of about eighty dollars. The driver took off, but luckily I had the presence to get the plate number. The police responded, there were witnesses. The driver was charged with hit and run, leaving the scene and failure to yield the right of way. My question is when his insurance company contacts me, what is a fair and common settlement offered in this situation.