How long does an accident settlement take?
If you were in an accident and are wondering "how long does a car accident claim take to settle" or "why is my settlement taking so long," the time it takes to reach a settlement for a car accident is down to several factors, including:
Legal issues
Your case involved significant damage and/or a large amount of compensation
You or someone else injured in the accident has not year reached their maximum medical improvement (MMI)
Your car accident settlement is delayed due to legal problems
If you're having trouble getting a settlement for your car accident because of legal issues, don't worry – you're not alone. Many people have to go through a legal battle to get the compensation they deserve after a car accident.
There are several things that can cause a legal delay in your car accident settlement. One of the most common reasons for a car accident settlement claim being delayed surrounds the issue of fault. When it is difficult to prove who was at fault, the defendant's insurance will delay any payout until a lawsuit is filed and experts have reviewed the case.
Another common legal issue that results in car accident settlement delays surrounds the issue of damages. If it isn't clear that a plaintiff's damages were caused by a defendant, their insurance won't want to make any payments. This is why it's essential to have a clear understanding of the damages you've suffered before going into settlement negotiations.
Your car accident settlement is delayed due to their being a lot of damage or a large payout needed
Another common reason for a legal delay in a car accident settlement is if there are significant damages and/or a large amount of compensation involved. This can often happen if someone is seriously injured in an accident and requires extensive medical treatment. The insurance company may try to delay the settlement process as long as possible in order to wear down the victim and their lawyer.
Insurance companies are businesses; they are looking to make a profit. The less they can pay out, the more profit they can keep. In large cases, insurance companies are willing to put up a fight to try to pay as little as they can.
Your car accident settlement is delayed as an injured party hasn't reached their maximum medical improvement yet
If you or someone else involved in the accident has not yet reached their maximum medical improvement (MMI), this can also result in a delay in your settlement. MMI is the point at which an injured person has recovered as much as they are going to and their condition is not expected to improve any further.
If an injured party has not yet reached MMI, it can be difficult to assess the full extent of their damages. As a result, insurance companies will often try to delay settlement until MMI is reached.
It's important to note that even if you have reached MMI, there may still be some ongoing medical expenses that need to be taken into account. These can include things like future surgeries, rehabilitation costs, and prescriptions.
If you're wondering how long does a car accident settlement take, the answer will depend on the individual case. However, if you're facing legal issues, a large amount of damage, or someone involved hasn't reached their MMI, it's likely that your settlement will be delayed.
If you have any questions about your case or want to know more about the car accident settlement process, contact a personal injury lawyer at Curan & Ahlers today. They will be able to give you more information and help you get the compensation you deserve.
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