Why is my car accident settlement taking so long? Car accident settlements paid by insurance companies on behalf of an at-fault party are critical to meeting your financial needs, especially if you have serious medical losses and ongoing needs.
It is very common for car settlement claims to take an extensive amount of time if the case involves serious losses, complicated scenarios involving more than one driver, or numerous insurance companies. Be sure to talk to a Houston car accident lawyer today to discuss the details of your case.
Factors That Could Play a Role in Why Your Accident Settlement Is Taking Too Long
Car accident settlements may take between six months and several years in some situations. As a car accident attorney, our legal team will tell you that we will do everything we can to speed up the process so you get the funds you need sooner.
Yet, factors such as the following often play a role in that process and the timeline:
- The length of your medical treatment. It is not wise to settle your claim unless we fully understand the complexity of your injuries as well as the long-term implications of them. If your medical care may take a long time, that could influence when we can pursue a settlement.
- Insurance company delays. In some situations, insurance companies may take steps to delay the process, hoping to frustrate you into agreeing to a lesser amount of compensation. Our attorneys will minimize this risk by building the evidence to support your claim.
- The number of people involved. In situations where multiple parties file a claim or numerous insurance companies are at fault, this can delay matters. It may take longer for the case to process through multiple parties.
- Verification of evidence and liability. In some situations, the simplest of cases may seem to take a very long time because the insurance company does not believe it is at fault or may attempt to deflect some of the blame. Robust evidence may minimize these risks.
- Negotiations. Negotiating is not a single, one-time conversation but often numerous steps back and forth between your attorney and the insurance adjusters. Our aggressive negotiation methods minimize these risks.
If you are in the middle of a case right now and you are unsure what is taking your settlement so long, we encourage you to reach out to our legal team.
If you do not have an attorney in place, hiring one now could be critical to speeding up the process. Our Houston personal injury lawyer is available to discuss your case with you now so you can learn why your car accident settlement is taking so long.
Not Having an Attorney Could Be Part of the Problem
In some situations, insurance companies may delay or postpone handling your insurance claim because they know they can. If you do not have a car accident attorney working for you right now, that could be limiting your ability to recover full and fair compensation quickly. Let our legal team step in to offer insight and encourage the adjusters to move quickly on settling your claim.
How Litigation Plays a Role in Your Settlement
Most car accident settlements settle out of court, meaning the insurance company comes to an agreement with you on how much to pay you, and it could hinge on the two-year statute of limitations under the Civil Practice and Remedies Code Chapter 16.
In situations where this does not happen, it may be necessary to pursue a court case, which would allow a judge to make decisions about your case value. Litigation is necessary in complex cases or when the insurance company will not provide a fair settlement.
Insurance companies do not want to go to court because it can delay the process and increase their costs, which is why we often can get them to settle sooner. However, when cases do go to court, they can take several months or even a year longer. There are numerous steps in the process, often delays, and judges who must make decisions.
Keep in mind that this process may be necessary when it is in your best interest to receive fair compensation for your losses. Our attorneys will do all we can to minimize this risk and pursue justified legal action when necessary.
Our experience makes it easier for us to navigate this process confidently so you know why your car accident settlement is taking so long.
Other Factors After Your Settlement Award
Once you receive an award, your settlement goes through several other steps before it gets to your bank account. The insurance company will typically need to pay the settlement right away after the agreement occurs or will set up the necessary funds for long-term restitution claims. However, there may be others who are owed first.
A good example of this is all of your medical providers who have been waiting with outstanding medical bills for the case to settle to recover their losses. The funds from the settlement pay those bills off first to ensure those providers receive court-ordered funds. Any other debts owed based on your settlement, including your attorney fees, come from these funds as well.
Once this happens, the funds will be sent to your bank account. When you meet with our legal team, we can offer more insight into the timeline that is most likely applicable to your specific case, but most of the time, this can take several days to weeks after your settlement is paid out.
If you are unsure who may have claims against these funds or why there is a delay in any component of the process, contact our Houston truck accident lawyer to learn more about your case.
Put Your Case in the Hands of a Qualified Car Accident Attorney Before Moving Forward
At Lowe Law, our car accident attorneys work with clients facing all types of accidents, injuries, and frustrating insurance companies to help them receive the compensation owed as soon as possible.
If you are unsure what to expect or why your car accident settlement is taking so long, we encourage you to contact us. If you do not have an attorney, we are happy to offer a free consultation.
