How Long Will it Take to Settle a Car Accident Claim in NY?
If you were hit by a negligent driver in New York, you have the right to seek compensation. If you suffered only minor injuries, you can collect from your own no-fault insurance provider. If, however, you suffered a serious injury–broken bones, loss of limb, serious damage to an organ or bodily function, etc.–you have the right to bring a claim for damages against the at-fault driver and potentially collect a much larger amount from that driver and their insurance provider.
Lawsuits take time, however, and the majority of cases settle without going to court. You need that settlement soon to start covering your medical bills and other expenses. How long does it take to settle a car accident claim? Read on for a discussion of the timeline for settlement and, if you were hurt in a traffic collision in New York, call a seasoned Bronx car accident attorney for advice and assistance.
Factors Affecting Your Claim
Every legal claim is different. Even every car accident claim is different. A number of factors play into how quickly you can reach a settlement. The timeline of your case will be affected by, for example:
- The severity of your injuries, including latent injuries that develop over time as the claim progresses
- The overall value of your claim
- The strength of the evidence supporting your claim (e.g., traffic camera footage, blood-alcohol tests, etc.)
- The at-fault driver’s level of culpability
- Whether the insurance company accepts liability or disputes liability
- Your personal injury lawyer
- Whether you were partially at fault
- Whether other parties were partially at fault (other drivers, auto manufacturers, employers, etc.)
- Your patience and/or need for the money as soon as possible
- The insurance company’s calculation of risk
- Your calculation of risk and your risk aversion
All of these factors affect the settlement process. If your case is a straightforward slam-dunk, the insurance company might agree to a settlement very quickly to limit their liability. If your evidence is more circumstantial, you are asking for a significant amount due to serious injuries, there are complicating factors, or you might share partial liability, then the insurance company is going to fight back much harder and either try to disclaim liability or reduce their settlement offer.
Ultimately, the claim can take anywhere from a few weeks to a few months or even years to settle. Most claims can be resolved within a few weeks or a couple of months when liability is clear and insurance companies play ball. Insurers are known to deflect and delay, however, to limit their liability. In order to speed up the settlement process while maximizing your recovery, make sure you have a savvy New York traffic accident attorney on your side. Your lawyer will handle the negotiations, gather evidence to support your claim, and make sure the insurance company is not giving you the run-around.
Once You’ve Signed a Settlement Agreement
When you have reached a final settlement and accepted an offer from the at-fault driver and/or their insurance provider, you are ready to collect your money. The insurer will process the final settlement agreement and send a check to your personal injury lawyer. Your lawyer will deposit the check, wait for it to clear, and then disburse your settlement proceeds to you, after deducting their fee and other expenses.
All told, it may take around six weeks from reaching a settlement to you having cash in hand. It takes around a month for the insurance company to process the settlement and issue a check, and then likely another two to three weeks for your lawyer to process the check and send you your settlement funds.
Call a Seasoned Bronx Car Crash Injury Attorney Today
If you or someone you care about has been hurt in a New York traffic accident, find out if you’re entitled to money damages for your injuries by contacting the thorough and successful New York car accident lawyers at the Bronx offices of the Kohn Law Firm for a free consultation at 718-409-1200.