After being involved in a vehicle accident normally the assumption is it is quicker to settle the claim than litigate it. As such, after calling your insurance company for a claim it’s likely you wonder when the case will be settled. It is during this waiting period that a person may feel like they are in limbo as they wait for the settlement to happen. This article will discuss the factors that determine how long it will take to settle your car accident case.
One of the main reasons a person may feel rushed for settlement is the ever-increasing medical expenses and bills. Such anxiety is worsened when there are no available or limited funds to make payments. Additionally, depending on your injuries it is likely that you are unable to return to work; meaning you’re without income. However, any personal injury lawyer will explain that there are many factors that affect the value of a settlement. As well as the duration of waiting for a settlement to be offered, accepted and paid out.
Factors Affecting Settlement Value and Timing
- General timing of settlements – clear-cut and straight forward claims regarding liability are settled in a matter of months. This is especially true when the claim involves medical damages that are clearly and objectively established. However, other claims may take years before they settle. Often these claims may require the threat or start of a lawsuit before anything happens in the case. Additionally, some cases do not settle at all and end up at trial.
- Nature and severity of injuries – one of the main issues involved in a car accident case is the level of damages requested in the claim. If the damages, are relatively low the insurance company may decide to quickly dispose of the case. When this happens, the case settles within a few months. However, if the insurance company does not believe that the medical bills truly validate the injury it may be unwilling to settle the claim. The insurance company may want to further investigate the claim and this may delay the settlement time.