Personal injury cases have a very high rate of settlement, with 95% of them resolving before trial. And having a more severe injury usually accounts for a higher payout.
The timeline for receiving a personal injury payout depends on the complexity of the case and the extent of the injuries. Of course, the parties involved should also be willing to reach a settlement.
While some claims get resolved quickly within a few months, some require a few years to settle. This may be due to the ongoing medical treatment, liability disputes, or lengthy court proceedings.
But how are personal injury settlements paid out? And how long does it take to receive it? Let’s find out!
Factors Affecting the Timeline for Personal Injury Payouts
Payouts for personal injury claims don’t settle immediately. There are various factors that affect the time it takes to receive payment. First of all, the severity of the injuries significantly impacts the timeline for payouts.
Longer cases mean that sometimes more extended investigation and medical evaluation must be made. Secondly, the insurer can perform fast or slow responses depending on the nature of their negotiation powers.
If you need to gather additional evidence to resolve a dispute regarding liability, it can also affect the timeline on when you may receive your payout.
An experienced attorney could help speed up the process. Local laws and regulations could dictate timelines, so you need a lawyer practicing in the state where the accident took place.
Personal injury lawyer Mark Gonzales says you deserve to be awarded compensation you can use to pay for medical bills, recover lost wages, and come to terms with any long-term effects of the accident.
The Claims Process Explained
The claims process is important for anyone seeking a personal injury award since it can get confusing without a clear roadmap to follow. Gather all relevant documents like medical reports and accident reports that will help establish your claim.
File a claim with the insurance company held responsible for the incident and the injuries or losses sustained. An insurance adjuster will then review your file, and this process may take some weeks. You might have to answer questions or provide further information.
The offer is made once the review is finished, and you can either accept or reject that. Being aware of these steps can lead to empowerment and manageable levels of solitude throughout the process.
Insurance Company Negotiations
You may feel intimidated to face the insurance company for negotiations if you don’t know what to expect. But you are not alone in this ordeal. Many others have faced the same and managed to push through.
First, collect all documents and facts about the injury. That would give you some leverage during negotiation. When discussing, remain calm while being assertive.
The insurance company may have offered you a very low settlement at first; do not hesitate to keep going higher with your counteroffer. In fact, that’s the process. An injury lawyer will give you a fair advantage; they protect your rights so that a fair settlement for your pain and suffering can be reached. You’ve got this!
When to Expect Your Settlement
Personal injury cases may differ from one another, but the majority of settlements may last between a couple of weeks and a couple of months before reaching an absolute final stage.
During this period, you would want to keep the lines of communication open with your personal injury attorney, as they will be guiding you along the processes of filing a claim and keeping you well informed.
The lawyer normally submits a demand letter to the insurance company at post-treatment, and sometimes there is prolonged negotiation thereafter. Be patient; not to mention, you are never alone in any of this.
A great number of others have walked down this same path; do bear in mind that a just settlement is much worth it in the end. Keep healing, and let your lawyer take care of all the complex issues.
Common Delays and How to Avoid Them
Certain delays in personal injury cases could be frustrating. Learning about the causes of delays could save you from some disadvantages. An incomplete file is one such situation. Make sure you have all medical records and police reports collected earlier.
The insurance company might slow things down, so you should stay ahead and keep following up. Plus, when liability is disputed, negotiation may take an awful long time. Keep communication open with your lawyer because they will be able to direct you around potential obstacles.
That being said, try not to rush into accepting a settlement without first at least understanding your case. Good planning requires composure and proper information. Having patience will reward you with a better future.
