A serious car accident can cause financial chaos in your life. If you are injured, you may have significant medical bills. You may be unable to work and lack money to cover your bills. You might wonder how to settle your car accident case quickly to have some cash in hand to move on with your life. But many factors could affect the timeline of a car accident settlement. A quick settlement could be a costly mistake in the long run.
At Kraft & Associates, P.C., our Dallas personal injury attorneys want to help you navigate the car accident settlement process and make solid decisions with your future in mind. We know how stressful the aftermath of a serious accident can be. Let us ease that stress by handling your injury claim while you focus on your recovery. To learn more about how we can help, visit our testimonials page, call us at (214) 999-9999, or contact us online for a free case review.
Why Is My Car Accident Settlement Taking So Long?
A car accident can leave you with a lot of unforeseen expenses that you simply cannot afford to pay without a settlement from the insurance company. Some claims take longer to settle due to factors such as:
- The nature and severity of your injuries – If you sustain severe injuries, it could be quite a while before you complete your medical treatment. That will likely delay the claim settlement. You need to reach maximum medical improvement (MMI) to understand the full costs of your medical care. Cases involving relatively minor injuries like simple bone fractures are typically more straightforward and quicker to settle. Cases involving complex injuries, such as traumatic brain injuries, catastrophic injuries, or burn injuries often take much longer to resolve.
- The number of parties involved – If several parties were involved in the crash, you might have grounds for multiple injury claims. The process of proving liability will likely be more complicated. Your case may take longer to settle because of the involvement of multiple insurance companies and more opportunities for insurers to try to shift the blame and avoid liability.
- Who was responsible for the wreck – The party or parties responsible for the accident and how they respond to your case will significantly impact the settlement timeline. Some insurance companies might be more willing to settle quickly to avoid the expense of a lawsuit. Others might want to protect their bottom lines at all costs, refusing to settle and forcing those injured to go to court to demand justice.
- The value of your injury claim – If you have an expensive injury claim, you’ll find that many insurance companies will do everything possible to minimize the amount they owe. When the financial stakes are higher, expect the settlement to take longer. High-dollar settlements typically undergo numerous delays, no matter how straightforward the claim is. Many accident victims with expensive injury claims do not receive fair settlement offers until their cases are ready to go to trial.
- Whether your case goes to court – Most car accident claims settle well before anyone involved sees the inside of a courtroom. But If your case ends up in court, a new set of factors will affect the timeline, including your judge’s caseload, the court schedule, and the pacing of the actual trial proceedings.
The most important thing to remember when you are eager to settle your case is that a quick settlement is not always a satisfactory settlement. Insurance companies sometimes offer quick settlements to limit their financial liability. If you agree to settle your car accident case too quickly, you may be stuck with medical expenses that arise after the settlement.
How Long Does an Accident Settlement Take?
The timeline for every accident case is different. You can generally expect your claim to include the following phases:
- The immediate aftermath of the wreck – The actions you take in the aftermath of a car accident can significantly affect your claim. Seek medical attention as soon as possible. Gather evidence such as photos and the names of witnesses at the crash scene to support your case.
- The process of finding an attorney – Once you are receiving medical treatment, your next step is to find a trusted lawyer. Your attorney can investigate your accident and help you navigate the legal system while you recover from your injuries.
- The investigation into the accident – After you retain an attorney, the attorney should launch an independent investigation into the wreck. The accident investigation may take weeks or months depending on the complexity of the accident and the number of potentially liable parties.
- The process of filing your injury claim – The attorney can help you initiate a claim by sending a demand letter to the insurance company representing the at-fault driver. The demand letter notifies the other party that you intend to seek compensation from them.
- The settlement negotiation process – Once you have filed a claim and all sides have had the opportunity to exchange evidence, settlement negotiations may begin. The settlement process may take weeks or months, depending on the willingness of everyone involved to settle. If the parties cannot reach a settlement agreement, you might need to go to court.
- The collection of your claim payout – If you agree to a settlement or the court awards you a verdict at trial, the final stage of your case involves collecting the money. You can opt to receive your compensation as a one-time, lump sum payment or in installments.
How Much Will My Car Accident Settlement Be?
Every car accident case is different. There is no way to offer a reliable estimate for your claim without reviewing the specific details of your case. If you file a claim, you may seek monetary compensation for the following losses:
- Medical expenses due to your crash-related injuries
- Repair or replacement costs for your damaged vehicle and personal property
- Out-of-pocket expenses, such as travel costs to medical appointments
- Lost wages for any time you miss work due to your injuries
- Projected losses in your earning capacity, if you suffer permanent injuries
- Subjective losses, such as pain, suffering, and reduced quality of life
Contact a Dallas Car Accident Lawyer for a Free Consultation
If you have been injured in a car accident caused by another motorist, speak with a knowledgeable car accident attorney about your case. Call Kraft & Associates, P.C., at (214) 999-9999. You can also fill out our online contact form to get started with your free consultation session.
