How Long Can a Car Accident Settlement Take: Key Factors
If you’ve been in a car accident, you’ll probably have a lot on your mind. The process of receiving compensation can be very lengthy, and it can also be complex at times. With that said, if you take the time to understand the factors that influence compensation, then this will make your life a lot easier. Whether you were involved in a small bump or a severe crash, the settlement process can vary quite significantly. This guide will help you to navigate the process efficiently, so you can make the most out of your claim.
Understanding the Timeline of a Car Accident Settlement
The timeline for a car accident settlement can vary quite a lot. It can also depend on a lot of different factors as well. As a general rule, the process can take a few months to a few years. Most cases settle within 18 months, but at the same time it’s common for them to be resolved a lot faster. How long your case takes to resolve will depend on the severity of any injuries, and how willing parties are to negotiate. The process starts with your reporting the accident to your insurance company. You will also need to seek medical treatment as soon as possible so it is on your record what injuries you had at the time. When you have completed medical treatment, your lawyer will then start to build a case for you. Only when all parties involved have gathered the information required, can a settlement be made.
The Role of Insurance Companies in Settlement Duration
Insurance companies play a huge role in determining how long it is going to take for an accident to be settled. The insurance company’s approach to handling a claim can either really speed up the process, or it can slow it down significantly. Insurance adjusters tend to be responsible for assessing the accident, and they will also gather evidence before determining the value of your claim. One of the first steps you need to take is to find who is at fault. If the liability is clear and very straightforward then the process may move along quite quickly. If there is a dispute as to who is at fault, then this can make things more complicated.
Insurance companies will also attempt to lower the payout where possible, which can lead to even longer negotiations. This might involve offering a lower initial settlement, in hopes that you will accept it quickly. Sometimes insurance companies will also deny the claim, meaning that you have to pursue legal action.
How Legal Representation Influences Your Settlement Time
Having the right kind of legal representation will influence your settlement timeline. If you have an experienced personal injury lawyer then they will know the ins and outs of accident claims. They can also help you to navigate the process much more efficiently, when compared to not having any legal help at all. Lawyers typically begin by reviewing the evidence. They will then communicate with insurance companies and ensure that your claim is documented properly. Attorneys will also work as negotiators, ensuring that you get the best settlement possible. This is often the best way to secure a good resolution, quickly. Some lawyers might even recommend that you take our case to trial, so you can get a fairer payout. If the case requires litigation, or if the insurance company doesn’t want to settle then this can lead to delays, so you need to be mindful of things like this if you can.
By hiring a lawyer, you can also make sure that you don’t miss out on any deadlines, and they can also ensure that all paperwork is completed promptly. Not only will this reduce delays, but it will also save you a lot of stress.
Common Delays in Car Accident Settlements and How to Avoid Them
Several factors can contribute to delays. Being aware of them will help you to avoid them. One of the main reasons for a delay in settling your case is waiting for bills and medical records. If you have severe injuries then your lawyer will want to make sure that these have all been treated before trying to pursue a settlement, in case there are medical issues that haven’t been uncovered yet.
Communication delays are also very common. This can be between the claimant and their lawyer, or between the settlement company and the adjuster. Insurance companies may also choose to offer a low settlement, expecting the claimant to accept it. Even though delays are annoying, there are things that you can do to help yourself. Keeping records of any medical treatments you get, along with any expenses you have to pay for can help you to prevent holdups. Working with an attorney who can address issues in communication can also prevent unnecessary slowdowns.
The Impact of Severity and Complexity of the Accident on Timing
The severity and the general complexity of the accident will have an impact on how long your settlement is going to take. If you know that the accident involved some minor injuries and clear liability then the settlement can resolve quickly, If there are multiple parties involved, or if there are legal challenges then it is possible for things to take much longer. Traumatic brain injuries, permanent disabilities or spinal cord injuries can also take longer. Your lawyer will need to wait until you have made MIM, or maximum medical improvement to claim this. This is where you recover as much as you are going to, as it allows them to calculate medical expenses, and it also makes sure that the right settlement amount is going to be claimed. If the accident involved multiple vehicles, then it may be necessary to negotiate with a lot of different companies. If any party involved is unwilling to settle, this will add extra time to the process. Things like this can compound with other factors, making it more difficult for you to get the desired result from your case.
Steps to Expedite Your Car Accident Settlement Process
While you can’t control the pace of the car accident settlement, there are ways for you to expedite the process. First, seeking medical assistance is critical to not just your health, but also your settlement. Make sure that you seek medical attention as soon as you can and follow the treatments that you have been prescribed. Having a comprehensive record will support your claim and it will also eliminate delays. Staying organized is also very important. Respond to requests from your lawyer and also make sure that you are clear regarding your expectations. While some delays are inevitable, a lawyer should still keep you informed and updated regarding any roadblocks.
What to Expect After Reaching a Settlement Agreement
Once you have reached a settlement agreement, it may be some time before you receive the compensation you need. The settlement agreement has to be documented, and it can also take a few weeks for the insurance company to process the payment. It’s important to read through the terms carefully before signing. Your attorney fees and outstanding medical bills may also be deducted from your payout. In some cases, the settlement may include structured payments as opposed to a lump sum. If you have ongoing medical needs, the settlement may include future payments over time, so be sure to understand your agreement before agreeing to it.
When and How to Seek Professional Legal Advice
If you aren’t sure how long the car accident settlement is going to take, or if you feel as though the process is dragging on too long then seeking legal help is so important. You should seek legal advice if you are unsure as to your legal rights, or the compensation that you could be entitled to. If you feel as though the insurance company is offering a price that is too low then again, this is something you should think about taking up with your lawyer. Another thing you need to consider is if you have sustained serious injuries, or if there is a dispute as to who is at fault with the accident. An attorney can guide you through the whole process and they can also represent your interests too. If you consult them early on then you can ensure that your case is going to move forward efficiently, which is something that you can’t put a price on.
Even though the length of a car accident settlement can depend on a lot of different factors, including how severe the accident was and the role that the insurance company plays, understanding the factors that could influence your case is often the best way for you to navigate the settlement process with a bit more confidence. It is also a good way for you to expedite the settlement while making sure that the payment you get is fair, and reflects the injury, or hardship you have experienced as a result of an accident that wasn’t your fault.
If you want to arrange a consultation with a lawyer, call us at (201) 534-5011, or use this form here.
