If you’re injured in an accident due to someone’s negligence, there’s a good chance you’re eligible to receive compensation for your damages. This is good news, especially as you’re watching the bills pile up. Suddenly, you have medical and property damage expenses that can leave you financially reeling.
The last thing you should worry about is how you’re going to pay your expenses. After all, this is why you have insurance. Unfortunately, you’re not going to receive a settlement check the next day. There are factors affecting settlement times.
So, what are these factors impacting when you receive compensation? These can vary depending on your accident case.
Common Factors Affecting Settlement Times
When you file a compensation for a personal injury, it’s common to believe this is the end of the process. Guess what? Often, you’re just getting started. So, why can it take weeks or even months to finally receive your settlement after an accident?
Injury Severity
Minor injury claims are relatively easy to resolve. Your medical treatment is limited and this also means a smaller settlement from the insurance company. More severe injuries typically require a longer treatment plan. Some may even require a lifetime of care. Some examples include amputations, spinal cord, and traumatic brain injuries.
Since it takes longer to determine treatment type and duration, you can’t move forward with your injury claim. Obviously, this delays your claim process since you’re not sure of the extent of your damages. Insurance companies also balk at paying out larger claims, and this often means an extended period of negotiations.
Calculating Damages
You may think calculating damages is the easy part of the claim process. You’re right if you stick to your economic damages. These include your medical expenses, property damage costs, and lost wages if you miss work due to your injuries. Simply add your receipts and bills together, and you’re ready to submit a claim.
However, what about your non-economic damages? There’s a good chance you’re also entitled to receive compensation for non-economic damages. Determining the value of non-economic damages can also be confusing and time-consuming. If you’re not sure what non-economic damages are, these are things like your pain and suffering. Mental anguish and even loss of life enjoyment also qualify as non-economic damages.
So, how do you put a price tag on your emotions and feelings? You have two methods you can use to calculate these damages. You can assign a number to your injuries. An example is if you have a broken arm that heals without issue. You can assign a number one to your injury and use this as your multiplier. Now, you take the total of your economic damages and multiply it by the assigned number.
Another option is to use the per diem method. However, insurance companies often have issues with the per diem method and it’s also not allowed in every state. If your state does allow per diem as a tool to calculate non-economic damages, how it works is pretty simple. You take your average daily pay and multiply it by the number of days you’re affected by your injury.
If your pay rate is considered high, you have a pretty good idea why insurance companies are using the multiplier method.
Determining Liability
Even in no-fault insurance states, insurance companies are still going to want to know who’s liable for the accident. Determining liability can affect your settlement amount.
Hopefully, you filed an accident report with the authorities. Your accident report contains a ton of information that can help support your personal injury case. For example, there’s a good chance your report will list the driver/s responsible for the accident. With this information, your insurance company can start moving forward with your claim.
If comparative negligence is part of your state’s law, this can draw out the settlement process. Now, more than one driver may be to blame for the accident. The next step is assigning a percentage of the blame to all involved drivers. Once blame is assigned, you should be able to start the claim process.
If you’re assigned more than 50% of the blame, this can mean you’re not eligible to receive compensation. As you can see, determining liability is a little more difficult than simply saying the other driver is at fault.
Negotiations
You’ve calculated your damages, and blame has been assigned—now it’s time to start trying to settle with the insurance provider. The best advice is to gather your patience, and this is often the longest part of the claims process.
Chances are, the insurance adjuster has already presented you with at least one or two settlement offers. You probably noticed these offers are relatively low. Sometimes, the offer isn’t even enough to cover all of your damages; this is normal, so don’t get too worried. The insurance company is simply hoping you’ll accept the lowest possible amount.
Now that you have a good idea of the extent of your economic and non-economic damages, you can present this total to the insurance company. Get ready for a counteroffer, which is when the negotiations really get started. After a few offers going back and forth, hopefully, you can reach an acceptable settlement number. If so, your personal injury case is almost closed.
Going to Court
Sometimes, not even the most skilled attorney can reach an acceptable settlement offer with an insurance company. Don’t panic! Your case isn’t over, but you’re going to need to wait a while longer to receive a check.
Now, your personal injury case is headed to civil court. The good news is you shouldn’t have to wait long for your case to appear on the docket. The judge will probably order a mediation session, which gives you one last chance to reach a settlement with the insurance company. If the insurance adjuster won’t budge, your case goes to trial.
Let an Attorney Help Speed Up the Claims Process
While it might not always be possible to expedite the claims process following an accident, having an attorney by your side can certainly make the process more seamless and less stressful. An attorney specializing in personal injury law can provide expert guidance, ensuring that all the necessary steps are taken efficiently and effectively.
By advocating on your behalf, your lawyer can negotiate with insurance companies, handle the paperwork, and ensure that your claim is processed correctly. Early consultation with a personal injury lawyer after an accident is crucial. It helps in safeguarding your rights and aims at securing a fair settlement that adequately compensates for your injuries and any other losses.
