How Long Does it Take to Get a Settlement From a Car Accident?

For many people who have suffered injuries due to car accidents, settlements are crucial lifelines. These people depend heavily on financial compensation as they deal with substantial medical expenses. A crash can be costly, especially if it involves a serious injury or death. In the case of a serious injury, you may be dealing with years of potential medical treatments for the foreseeable future. Perhaps you will require medical treatments for the rest of your life. These treatments are virtually impossible to pay for out of your own pocket, especially if you are also unable to work due to your injuries. Deaths also have a high potential for damages, and these damages are suffered by surviving family members. Not only are you left to pay for funeral costs and other expenses, but you may have lost the primary wage earner in your family.
loss of a loved one
With all this in mind, there’s nothing wrong with asking when you’ll receive your settlement. Understanding the timeline of an accident claim is important if you want to plan effectively and organize your finances. So how long will it take for you to receive your settlement? While there are some general rules of thumb, the truth is that each case is slightly different. To establish a clear idea of when you can expect your settlement, you should consult with a qualified, experienced personal injury attorney in Las Vegas. These legal professionals can assess your unique situation before providing you with general estimates. Not only can your attorney let you know when your settlement will arrive, but they can also tell you how much money to expect.

File Your Claim as Soon as Possible

The first step is to file your insurance claim, and the sooner you do this, the sooner you will receive your settlement. It is possible to file your claim within a day or two of the accident, and this becomes easier if you connect with an attorney very quickly after the incident.

However, it’s important to note that your medical treatment is the first priority here. Don’t neglect your medical treatment in a frantic rush to file your claim and get the legal proceedings started. In fact, doing so could actually damage your ability to receive a settlement. Your claim will be primarily based on physical injuries, and medical treatment creates important evidence that your injuries were legitimate. Medical records, doctor’s notes, X-rays, and CT scans can all be used to back up your claims. If you skip medical treatment in order to file your claim as quickly as possible, there may be questions over whether your injuries were actually legitimate.

The Negotiations Can Take Time

settlement paperwork
Shortly after your attorney helps you draft and send your demand letter to the adjuster, you will begin negotiating with the insurance company for a settlement. This overall process is generally quicker and easier than a trial, but it can still take time. If you wish to get your settlement as quickly as possible, your attorney can wrap up the negotiations in a matter of days. However, you are unlikely to receive an amount that adequately reflects your damages if you rush.

Insurance companies want to offer you the least amount of money they think they can get away with, and they are masters of the “low ball” offer. Obviously, it is not in your best interests to accept this initial offer. No matter how desperate you might be for cash, you can always negotiate for a significantly higher amount with the help of a qualified attorney.

As soon as you start to “push back,” the negotiations will take longer to complete. This is because your attorney needs to show why the initial offer is inadequate. They may highlight your medical expenses, arguing that the settlement on offer is not enough to cover them. Perhaps the insurance company has dismissed the claim that you are suffering from PTSD after the accident, requiring your attorney to show that your pain and suffering is legitimate.

Eventually, most insurance companies will offer you a fair settlement. Deep down, they want to get this over with as quickly as you do, and they definitely don’t want to go through an expensive, lengthy trial. When they do finally offer you a fair settlement, you will need to sign a release form that states that you will no longer pursue any further legal action or make any additional claims in connection with your car accident.

So How Long Will it Take?

Let’s break this down and provide you with a best-possible scenario. We’ll assume that you filed your claim within one day of your accident. Next, we’ll assume that the adjuster replied to your demand letter within three days, which is generally the shortest amount of time you can hope for. Next, we’ll assume that the negotiations are wrapped up as quickly as possible – perhaps within a single day. After you accept the first offer, you can expect to receive your settlement check within two weeks at the very soonest. After the check arrives, there are still a few matters to take care of, such as paying the attorney fees and processing the check.

So at the end of the day, you can receive your settlement within about 21 days at the very earliest. Note that this is the best possible scenario, and it hinges upon you accepting the first settlement offer. In reality, your attorney will likely advise you not to accept the first offer. This can add a few weeks to the negotiations as you strive to receive a settlement that adequately reflects your damages.

Enlist the Help of a Qualified Attorney Today

No one should have to wait longer than necessary for their settlement, especially if they’re dealing with serious, life-altering injuries. To receive your settlement as quickly as possible, it’s important to work with a qualified legal professional. If you’ve been searching the Las Vegas area for an experienced personal injury attorney, look no further than Ladah Law Firm, PLLC. We are passionate about helping injury victims in Nevada, and we can help you strive for justice in an effective manner. While each case is slightly different, we can help you determine when to expect your settlement after a consultation. Reach out today, and we can develop an effective action plan together 702-252-0055.