After a serious car accident, people often want a quick settlement of their car accident injury claim. However, there are several considerations that go into determining how long the settlement process will take and whether or not it is in your best interest to try to reach a settlement as quickly as possible. This article will explain how the amount of time your car accident settlement will take depends on how much time you spend receiving medical treatments followed by how long settlement negotiations take.
Settlement proceeds in a personal injury case generally come from the at-fault driver’s insurance company. The professional adjusters and other employees of that insurance company do not take care of you, their job is to take care of your employer and pay you as little as possible. They are not required to pay your medical bills, lost wages or other expenses as they accrue. In most cases, you will receive an amount from the at-fault carrier that will permanently and fully compensate you for your claim.
Before you can negotiate, you must complete all of your medical treatment and obtain a professional medical opinion regarding any permanent disability. If you settle your case and then realize that you still need more medical treatment or will never fully recover, it may be impossible to go back to the insurance company and demand more money. In cases of serious car accidents, medical treatments can continue for a year or more. These cases may take longer to resolve. In smaller cases, such as those involving a single ER visit, the time frame to resolve can be much faster.
The insurance company also expects you to present your claim completely and professionally, as well as to negotiate for the maximum amount you can receive. It is not at all unusual, even in cases with serious injuries and clear fault, for an insurance company to initially deny a claim entirely, or to offer only a small fraction of what the final figure will be. A quick settlement, or accepting the insurance company’s first offer, may not be in your best financial interest. It is not uncommon for each side in a serious case to spend several days evaluating the latest lawsuit or settlement offer before determining their next step.