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Typically, car accident cases take several weeks to months to settle and, in the most severe cases, can take years. At High Rise Financial, we understand how challenging waiting a long time to receive your settlement after a car accident can be. Hence, we provide pre-settlement funding to help you move on with your life while waiting for your car accident settlement.
Overview of the Car Accident Settlement Process
After consulting with a car accident lawyer about your case, the lawyer obtains the necessary evidence and prepares to negotiate with your insurance company. In most cases, the insurance adjuster offers a settlement, and your lawyer determines whether the financial award covers all your damages. If it does not, the lawyer defends your rights and ensures you receive fair compensation.
During this process, your car accident lawyer may not know all your case’s twists and turns, but they will strive to secure the best possible outcome. You should not accept any settlement amount offered by the insurance company without your lawyer’s consent.
To apply for free, call (877) 735-0016
Factors that Lengthen the Settlement Process
Some car accident settlements take a few weeks to settle, while others can last several months or even years. Waiting a long time to receive compensation after a car crash caused by a negligent party can be difficult. The following factors could affect your settlement process.
Who Is at Fault: Liability
Determining liability and proving negligence in a car accident case can be more difficult, especially when you share fault. Such complications can pose even more difficult if the state uses comparative negligence to determine who should receive compensation. Establishing accountability can prolong the settlement process and increase the average time you must wait for payment.
Eyewitness Testimony
If you and your personal injury lawyer have several eyewitnesses to the accident, it can take several weeks or months to interview each person. Although eyewitness accounts help prove negligence and determine the at-fault party, having many eyewitnesses can lengthen the settlement process.
Having eyewitnesses with matching stories can speed up your case and reduce the average time for settlement. Typically, having several witnesses to prove your claim increases your chances of recovering full and maximum compensation compared with having few witnesses.
Recovery Time for Your Injuries
Car accident injuries include broken ribs, arms, and legs; whiplash; internal bleeding; and neck, back, and head injuries. If you sustain life-threatening trauma, you will likely incur high medical costs and require a long time to recover. This can lengthen your settlement process since your medical bills may have yet to be confirmed.
However, if you suffer minor injuries that take a few months to heal, you might have a shorter settlement process. This is because the court may not determine your case until you recover fully and have calculated all your economic damages.
Insurance Is Hesitant to Settle
Insurance companies and adjusters generate money by not giving policyholders the compensation they deserve as settlements. Thus, insurers often investigate car accident claims for details that could devalue the plaintiff’s case. Many insurance companies deny or are reluctant to settle large claims.
In such instances, your car accident claim can take longer to settle. Working with an experienced car accident lawyer can help you avoid such scenarios, as they will be familiar with the tactics insurance companies use.
Other Factors that Contribute to Your Settlement Timeline
The average time it takes to receive a car accident settlement varies and is affected by different factors. Factors that contribute to your settlement timeline include:
- The extent of your injuries and other related damages
- The time it takes for the insurance company and adjusters to respond to your compensation claim
- The settlement amount negotiation imposed on your claim
- Whether you have professional legal representation from a car accident lawyer
- The amount of evidence presented to support your claim
- Whether multiple parties are responsible for your damages and losses
You May Be Able to Speed Up Your Car Accident Settlement Process
Although several factors affect the average time it takes to receive your settlement, there are ways to speed up the process. These include:
- Filing your claim as soon as possible after a crash
- Preparing all the necessary evidence, such as medical health records and employment verification, and making them readily available to the insurance company
- Sending a demand letter immediately to receive a response from your insurer
- Ensuring the insurance carrier is aware of your claim and sets the reserve appropriately
An experienced car accident lawyer can help deal with stubborn insurance companies that might fail to respond to your claim promptly. A lawyer helps you throughout the legal process and increases your chances of recovering damages in the shortest time possible.
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Contact High Rise Legal Funding for All Your Car Accident Loan Needs Today
Car accident settlements may take a long time to settle, and it can be challenging to stay on top of your finances when recovering from your injuries. At High Rise Financial, we provide fast, no-risk, and straightforward pre-settlement funding to help you access quick funds while waiting for your case to settle. Contact us to learn more or apply for a car accident loan with us today.
Call or text (877) 735-0016 or fill out our form to apply today for free.