Have you filed a car accident claim recently? Wondering how long the average car accident settlement time is?
If you’ve recently filed a car accident claim, you may have to wait quite a bit of time to hear back from an insurance company. This can be incredibly frustrating if you have bills to pay.
If you’re wondering how long the average car accident settlement time is, read on. We’ll answer your questions here.
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Understanding the Accident Settlement Process
After you have been injured in a car accident that was caused by another driver, you’re entitled to make a personal injury claim and seek compensation. The compensation you get will be based on any losses that occurred due to the accident including medical bills, unearned wages due to being out of work, and more.
To get compensation, you’ll need to make a claim. You’ll submit a claim to the at-fault driver’s insurance company and will need to negotiate with them to get compensation for the damages.
During this time, there will often be a long investigation of the accident and the negotiations could be lengthy. If they don’t accept your claim, in some cases it will be necessary to file a lawsuit and take the matter to court.
What is the Average Car Accident Settlement Time?
There is a wide range of times that a car accident claim may be completed, and unfortunately, there is no clear answer for how long the process will take. Because all cases are different, there is no clear average of how long the process will be.
Simple claims may take a few weeks or less while some will get drawn out for weeks, months, or longer. Typically, it will take longer for medical claims to be resolved than it will take for vehicle damage claims.
During the process, however, there are some deadlines to be aware of. In some states, the insurance company is obligated to respond to your claim in a set amount of time. However, this time won’t necessarily be met since there are insignificant penalties when they fail to respond in time.
Insurance companies are required to respond in a reasonable time frame, but this amount of time is often not set in stone and still may vary by quite a bit.
Factors That Influence Settlement Time
They are many factors that can influence the length of the settlement process and there are some things that need to happen before it will be completed. Here’s what you need to know.
1. Insurance Company Hesitance
One of the reasons that a settlement may be delayed is because the insurance company is doing everything they can to prevent it.
Some insurance companies will find any way that they can to devalue a claim. They’ll investigate your case thoroughly to find something they can use to question the validity of your claim.
This is particularly likely to delay a case if the accident is major and particularly costly.
2. Determining Fault and Liability
Determining liability and proving that the other driver was at fault can be difficult in some cases.
Particularly when it comes to an accident where the fault will be shared, things can get complicated and it can be harder to determine liability. If the accident wasn’t 100% the other party’s fault, then the claim can get bogged down more easily.
Sorting this out and determining liability can take time. The settlement process can be slowed down considerably as a result of this.
3. Getting Eyewitness Accounts
If your accident had eyewitnesses, there may also need to be time taken to interview them and get their personal statements about what happened. You or your lawyer may need to spend time interviewing them.
It can be helpful to get eyewitness accounts if you weren’t at fault for the accident. However, this process can take quite a while, depending on the number of people who were at the scene of the accident.
4. Injury Recovery Time
Another thing that can delay settlement time is recovery. Depending on the severity of the accident, recovery time can vary by quite a bit.
If it takes you a considerable amount of time to receive treatment and fully recover from your injuries, this may also delay your claim. You shouldn’t file a claim until everything is said and done.
You won’t know how much compensation to ask for if you haven’t finished receiving all medical treatment yet. Once treatment is finished and all medical bills and records have been obtained, you can file your claim.
5. Insurance Company Response Time
One thing that you’ll be waiting for with a settlement is simply getting a response to your demand package. This can take anywhere from 15 to 90 days and will vary based on the specific insurance company, the state, and other factors.
Waiting for a response can be difficult, and in some cases, it can take quite a while before you hear back from the insurance company. While this can be frustrating, there’s not much that you can do to speed them up.
6. Hiring a Car Accident Attorney
One of the biggest things that can influence car accident settlement time is whether you hired an attorney to help or not. Hiring a car accident attorney can be very helpful during the settlement process.
While an attorney can’t control the insurance companies and force them to get back to you, they can help with the process of filing a claim and handling a car accident settlement. They can help interview witnesses, gather evidence, fill out paperwork, and help you get better results from your claim.
If the claim will be negotiated they can help you ensure you get the highest amount possible.
Final Thoughts
Unfortunately, there is no clear answer for how long an average car accident settlement time is. However, you should be starting to get a better idea of what to expect by reading this article. Be sure to stay motivated and try to be patient while dealing with insurance companies and seeking the compensation you deserve.
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