How long will it take to get money after my auto accident?
Accidents can be a traumatic experience, however, claim compensation that you deserve for your damages and injuries can add to the stress. According to the timeline information provided by the car accident lawyers at Reyes Browne Reilley Law Firm in Dallas,TX, the amount of time required to receive your settlement will be dependent on how complicated your accident was. Additionally, there are several factors that can influence the time in auto accident settlements.
The time required for medical care:
If you sustained major injuries in an accident, your treatment may take longer, and you will have to wait for the completion of the treatment to ensure that you get complete compensation for all the expenses. Insurance companies will most likely not pay you the full settlement amount until the extent of your physical condition, injuries and medical expenses are clarified. If the insurance company is providing you with a settlement immediately after the accident, they may not have your best interests in mind and it is best to not accept such compensation as it is usually lesser than the amount you rightfully deserve.
The insurance coverage available:
If there is a large amount of insurance coverage at stake then the cases usually take time to settle. In an event that the jury verdict for the monetary compensation to be awarded is higher than the insurance policy’s limits then the insurance company will try to settle sooner to ensure that they are not paying any extra amount beyond their policy limit. However, if the insurance companies believe that the jury verdict will be lesser than the upper limit of their policy then they are under less pressure and can take their own time to settle the case.
If the fault for the accident is unclear:
If the driver responsible for the accident has admitted to being at-fault then the case can move more quickly. But, if there are multiple at-fault parties or the nature of the accident is complex, the investigation can take longer to determine the at-fault party. More proof in the form of police records, eyewitness testimonies, expert witnesses, police reports and accident recreation experts may need to be provided to prove the fault of a certain party.
Insurance company or defense attorney:
If the insurance companies or defense attorneys nitpick the case and make settlement offers that are lower than the usual amount for similar cases, there may be more negotiations involved which will add to the time of the case.
Cases against local, state or federal entity:
If any 3rd party such as the local, state or federal body is responsible for the accident, there could be a delay or denial in your claim as these bodies do not settle quickly.
The length of time required to receive your settlement is also dependent on if the settlement is out of court or the case goes to trial. Once you have the court’s verdict for your case, you can receive the settlement amount within a few weeks or months of the case. But if an appeal is filed against the verdict, it may push back your settlement by a few months or even years.
How can a good car accident attorney help you?
It is beneficial to hire a professional car accident attorney if you have been involved in a car accident as they can inform you about your legal rights, negotiate settlements for you and fight for your case to ensure that you receive the correct compensation within the best possible time frame. A knowledgeable car accident lawyer will help collect the evidence for your case and keep your best interests in mind while fighting for you.