How Long After Settlement Does it Take to Get Paid?

You may be eligible for financial compensation if you were injured in a car accident and the other motorist was at fault. A successful claim will ensure you recover damages for medical expenses, property damage, and pain and suffering. However, depending on the circumstances of the accident, the severity of your injuries, and other factors, reaching a settlement can take anywhere from a few months to several years. During this time, the medical expenses associated with your injuries may accumulate, which can be a significant financial burden.

What Factors Influence the Timeline of a Car Accident Claim?

While some car accident cases are more straightforward and a settlement can be reached in a timely manner, the more complicated the case, the longer it may take to settle. The following factors may cause delays in the settlement process:

• Nature of the accident. If it is clear that the other motorist was at fault and you have plenty of evidence to support your claim, you may settle more quickly. However, if the case is more complicated, it may require a more time-consuming investigation.
• Severity of your injuries. The more severe your injuries are, the more difficult it is to assign a monetary value, particularly if you require ongoing or long-term care. The settlement will need to include compensation for future medical costs, which can be a complex and time-consuming process.
• Proving fault. Sometimes, it is clear who the at-fault driver is in a car accident. For example, if a motorist was driving while under the influence of drugs or alcohol, proving fault is a fairly straightforward process. However, if it is not entirely clear who caused the accident or if there is shared liability, the process of determining fault and reaching a settlement will be more complicated and time-consuming.
• Insurance companies use tactics to avoid paying a large settlement. Insurance companies’ main priority is their bottom line, so they may resort to a range of delay tactics to avoid paying a settlement.
• Inability to agree on a settlement amount. If your car accident lawyer and the insurance company cannot agree on a settlement amount, you may have to proceed with a lawsuit.

Should I Accept an Initial Settlement Offer?

As tempting as it may be to accept an insurance company’s initial settlement offer, particularly when it sounds like a significant amount of money, it is important to understand that an initial offer rarely covers all of the costs associated with the accident. You may have long-term medical expenses, and an initial settlement will not be enough to cover these ongoing expenses. In addition, you may not be fully aware of the severity of your injury when an initial offer is presented. If you accept the offer, you cannot request additional compensation.

When Can I Expect to Receive My Settlement Money?

There is no clear-cut answer to this question since every case is different, and certain factors can make the settlement significantly more time-consuming. However, once you and the insurance company have reached a settlement agreement, it generally takes four to six weeks for you to collect your payment. You will be required to sign a release form stating that you agree to the settlement terms and that you release the driver from further liability for your injuries. Once the insurance company receives the release form, they will issue you a check.

Our Experienced Macon Car Accident Lawyers at Childers & McCain, LLC Seek Maximum Settlements for Injured Clients

If you were injured in a car accident, contact our Macon car accident lawyers at Childers & McCain, LLC. To schedule a free consultation, call us today at 478-254-2007 or contact us online. Located in Macon, Georgia, we serve clients in Savannah, Albany, and Atlanta.