Why Is My Car Accident Settlement Taking So Long?

You suffered through a car accident, you filed your claim with the insurance company, and now… you’re not sure when the money will actually arrive. You’re left wondering, “Was there a glitch? Is the check in the mail? Why is my car accident settlement taking so long?”

Fair questions—and completely understandable. You naturally want to get your settlement and move on with your life. Unfortunately, settlement timelines aren’t always predictable.

There are a number of factors that must be taken into account, and these factors have an impact on how long it will take to wrap up your settlement.

How Long Do Car Accident Settlement Claims Take?
What Are the Steps in the Car Accident Settlement Process?
What Factors Determine How Long a Car Accident Settlement Takes?
Should I Wait to Start a Claim?
What Damages Can I Recover?
How Can I Help Speed up the Case Settlement Process?
When Will I Get My Check after the Settlement?
Should I Settle for a Smaller Settlement for My Car Accident Case?
What Are the Mistakes to Avoid in a Car Accident Settlement Case?
Should I Settle with a Claim or Go to the Jury?
Is My Lawsuit Settlement Taxable?
How Can BK Law Help in My Car Accident Settlement Case?
Contact BK Law Today

How Long Do Car Accident Settlement Claims Take?

As much as we’d like to give you an exact timeframe, personal injury settlement cases don’t come with a predictable timeline. Depending on the complexity of your case, it can range from several weeks to months to even years in especially large settlement cases. The insurance company starts low and tries to settle your case for less than it’s actually worth. Your Fort Lauderdale Car Accident Lawyer then has to go back and forth with the insurance company until a fair offer is on the table. If you’ve hired a trustworthy law firm, be patient. If you push too hard to speed things up, you may end up with less than you deserve, cutting short the negotiation process. Yes, you need money to help with your injuries and bills, but you’ve already come this far. Don’t shortchange yourself by acting on impulse just as you’re nearing the end of the process. Hang in there and let your lawyers do what they do best—take care of their clients.

What Are the Steps in the Car Accident Settlement Process?

The first step in the settlement process is to contact a personal injury lawyer. Your lawyer can help you file a claim with the insurance company to get the ball rolling. There are then several steps that occur during the car accident settlement process.

Gathering Evidence

Your attorney will conduct an investigation to gather and review evidence regarding the accident. Keep in mind, though—the insurance company’s attorneys will also be investigating. Their goal will be to find anything they can use against your claim. This is why it’s so important to have an attorney in your corner as well. Don’t let the insurance company have that advantage. The investigation may include gathering the following:

Police report
Photo/video footage
Medical records
Eyewitness statements

You can help speed up the settlement process and increase the chances of a favorable outcome by gathering as much of this information as you can immediately following the accident.

Determination of Fault

Florida is a no-fault insurance state, which means that it doesn’t matter who is at fault in a car accident. Instead, every Florida driver is required to carry insurance that contains personal injury protection (PIP). In the event of injury from a car accident, drivers are required to turn to their own insurance first. This works in your favor in terms of time because the insurance company won’t have to spend time figuring out who was at fault. They can just determine the value of your claim and pay. However, there are certain situations where your injuries and expenses may be so significant that you exhaust your PIP coverage. In that case, the state allows you to go after the other driver’s insurance company, and questions of fault may arise. If that happens, the question of whether you were in any way liable and to what degree will come into play. This can get complicated and take time.

Negotiations

The lengthiest part of the car accident settlement process involves negotiations with the insurance company. Remember, the insurance companies also have lawyers representing them. This means that every time an offer is made, rejected, or countered, the lawyers on each side have to take the information back to their clients and discuss. It can be time-consuming, but it’s this stage that determines how much you ultimately receive from the accident.

What Factors Determine How Long a Car Accident Settlement Takes?

In order to come up with a settlement amount, a variety of factors must be taken into account. Depending on their complexity, these factors can often slow down the settlement process.

Number of Parties Involved

Cases that involve multiple parties can prolong the case settlement process. The more parties involved in the accident, the more complex it becomes to apportion liability, and the longer it takes for the insurance company to investigate.

Severity and Extent of Injuries

Cases involving severe and/or extensive injuries generally take additional time to fully evaluate the extent of the victim’s injuries. The long-term impact of the accident cannot be properly determined until the victim recovers from the accident, reaching what’s called “maximum medical improvement” (MMI). MMI is when recovery reaches a point at which further improvement is unlikely. This point reveals any long-term disability or other consequences resulting from the accident and is a determining factor in the value of your settlement. Your lawyer can use the MMI to evaluate the total cost of previous, current, and future medical-related expenses and long-term damages, including permanent disabilities.

Total Value of Settlement

Typically, cases that involve minor injuries may reach settlements faster than cases involving more complex damages. For example, it may take longer to recover fair compensation in cases that involve extensive physical injuries, high-value property, and other significant damages. High-value settlements take longer to recover because the insurance company will often draw out the negotiation process in an effort to wear you out.

Should I Wait to Start a Claim?

No, don’t wait to file your claim after an automobile accident. You should start planning and gathering evidence immediately after an accident occurs. This includes taking photos, retaining a copy of the police report, and identifying any eyewitnesses. Florida limits the amount of time you have in which to file a personal injury lawsuit to four years from the date of the accident. This is called the statute of limitations, and while it can seem like you have plenty of time—you don’t. Building a strong case that’s likely to convince the insurance company to settle rather than risk losing in court takes time. Getting started as soon as possible gives you the best chance at a maximum settlement.

What Damages Can I Recover?

Damages available in car accident cases fall into two categories: economic and non-economic. Economic damages refer to financial losses directly related to the accident, such as:

Medical costs
Lost wages
In-home nursing care
Therapy

Non-economic damages are for more personal losses that aren’t as easy to quantify:

Pain and suffering
Emotional distress
Loss of consortium
Cognitive impairment

As noted earlier, Florida is a no-fault state that requires car accident victims to turn to their own insurance companies and their PIP coverage. PIP will take care of economic damages. However, if your expenses exceed your PIP coverage or if your injuries pass a serious injury threshold, you can go after the other driver’s insurance company for non-economic damages.

How Can I Help Speed up the Case Settlement Process?

You can help ensure that your case settlement process is handled as swiftly as possible by maintaining good records. Promptly provide your attorney with any and all information requested, such as evidence of injuries, medical bills, and proof of lost wages. Regular communication with your lawyer and making yourself available to approve decisions or sign documents can also move things along.

To learn more, schedule a free consultation with us today.

When Will I Get My Check after the Settlement?

As frustrating as it may be, even after a settlement is reached, there are still a few steps before you finally get the check in your hands.

You’ll have to sign a settlement release form, which will go to the insurance company.
The insurance company must then process and close your claim.
Your lawyer will receive the check and deduct any legal fees.
You will receive the check.

Barring any major issues (e.g., bank or post office delays), you should have your check within four to six weeks from the time you signed the settlement release form.

Should I Settle for a Smaller Settlement for My Car Accident Case?

The insurance company knows that accident victims are financially, emotionally, and physically stressed. They use this to their advantage in trying to get you to take whatever lowball offer they first make. Never settle for early offers from the insurance company. This is often far less than your case is worth. Always speak to a personal injury attorney before proceeding with this major financial decision. Your attorney can advise you on the validity of the offer.

What Are the Mistakes to Avoid in a Car Accident Settlement Case?

There are a number of mistakes that can have disastrous effects on your car accident settlement case.

Settling Too Quickly

Rushing to settle a car accident case is a terrible decision. It signals to the insurance company that you’ll likely accept a low offer.

Lying

Never lie about factors involved in the car crash. The insurance company will quickly discover any dishonesty during their own investigations. Lying will only complicate your case, draw out the process, and may prevent you from receiving compensation for your injuries.

Neglecting to Hire a Personal Injury Lawyer

Neglecting to hire a personal injury attorney puts accident victims at a significant disadvantage. When you don’t have your own representation, the insurance company’s lawyers will smell blood and do everything they can to lowball you or deny your claim altogether.

Should I Settle with a Claim or Go to the Jury?

Insurance companies are notorious for trying to pressure accident victims into settling for less than they deserve. It can be tempting to settle so you can get your money quickly and avoid the drawn-out process of going to court. That said, if the insurance company won’t play fair and continues to offer an inadequate settlement or deny your claim outright, you should absolutely take your case to court to fight for the compensation you deserve. The insurance company is more likely to negotiate fairly when they know that the personal injury lawyer in your corner isn’t afraid to go to trial.

Is My Lawsuit Settlement Taxable?

Personal injury settlements are an exception to IRS taxable income laws and statutes. You will not owe taxes on the money received in your settlement.

How Can BK Law Help in My Car Accident Settlement Case?

At BK Law, we take pride in providing our clients with expert legal representation. We know what you’re going through because we’ve seen it first hand with the countless injured victims we’ve helped. Our personal injury law firm has won hundreds of millions on behalf of our clients, and our lawyers are the best in the business. Insurance companies don’t intimidate us. We know all the tricks of their trade, and we don’t let them take advantage of our clients. You have enough on your plate just dealing with the physical and emotional aftermath of your accident. Let BK Law handle the rest. When you choose our firm, you’ll be getting top-notch lawyers who will:

Conduct an investigation of the accident
Review all available evidence
Consult with experts such as accident reconstructionists and medical professionals
Handle all negotiations with the insurance companies
Represent you in court if the insurance company tries to play hard ball

You don’t have to go through this alone. We’re here to help, and we’re ready to advocate for you.

Contact BK Law Today

If you were injured in a car accident, you need an experienced lawyer to help you get the compensation you need. Give us a call at BK Law to get started. Let’s schedule your free consultation and go over your case. We’ll suggest possible next steps and give you our initial legal advice. We operate on a contingency fee basis, which means you pay nothing unless we win.

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