Have you been in a car accident in New York? Maybe you’ve already filed insurance claims but haven’t received compensation yet. If you’re asking, “Why is my car accident settlement taking so long?”, you should be aware that many factors can influence the length of the process. Let’s explore some of the main reasons that could account for this delay.
Your Injuries Are Severe
Typically, the more severe a victim’s injuries are, the more they could deserve – and the more they deserve, the more potentially liable parties will debate fault. The following are key reasons it can take relatively long to reach a car accident settlement when your injuries are serious:
- You may require extensive treatment for serious injuries. Gathering documentation of your medical treatment and adding up your medical bills takes longer when your treatment is complicated.
- You might require ongoing treatment for your injuries. This care could go on long after your case has ended. Thus, to ensure you receive proper compensation, it’s necessary to estimate the cost of future treatment before you agree to a settlement.
- Severe injuries can prevent you from working and earning an income. You’ll have to account for lost wages as well to seek the full amount of compensation you may deserve. If your injuries permanently or indefinitely limit your earning capacity, you’ll have to estimate the cost of lost earning potential.
- Serious injuries may also cause you to struggle with pain and suffering and similar intangible losses. Pursuing compensation may require assigning a dollar value to these losses.
If you’re wondering, “How long does it take to get settlement money from a car accident?”, odds are you’re eager to collect a payout. However, it’s important to remember that rushing the process can be a mistake in the long run. If you’re overanxious for a settlement, you may end up accepting less compensation than you deserve.
The Insurance Company is Delaying
Insurance companies are not in the business of giving away money when they can avoid doing so. Technically, the insurance company should provide fair compensation for your losses. That said, the insurance claims adjuster may feel their true job is to minimize their employer’s financial losses.
There are several ways claims adjusters and insurance companies attempt to settle claims for less than they’re worth. One tactic involves delaying the process for as long as possible.
During negotiations, an insurer might be reluctant to commit to a settlement. Perhaps they’re hoping you’ll grow impatient and accept a lower offer. Even after you agree to a settlement, the insurance company might take longer than is reasonable to pay you. An attorney can help in these circumstances.
The Investigation is Ongoing
If you’re filing a claim against the other driver’s liability policy, the insurer will want to investigate the crash before it pays any claims. This investigation can take a long time if the collision was complicated and may involve such steps as:
- Interviewing witnesses
- Reviewing photos and footage of the wreck
- Coordinating with crash reconstruction experts to reconstruct the conditions of the wreck
- Reviewing any forensic evidence that may be available
- Coordinating with doctors about how the nature of a victim’s injuries provides information about the cause of the crash
- Reviewing police reports
- Taking testimonial statements from the various people involved in the crash
NY Car Accidents: How Long After a Demand Letter Can I Expect a Settlement?
How long does a car accident settlement take in New York? Simple cases often take only a few weeks to resolve. Complex ones can take a year or longer.
Being patient is important during the claims process. The insurer might be pressuring you to take a quick settlement, hoping that you’re desperate enough to sign away your rights for pennies on the dollar. Trust your lawyer to negotiate, which may take time.
However, you don’t want an insurance company taking advantage of you by dragging the process out longer than they should. Having a proper advocate can help you avoid waiting too long to receive a payout.
Contact a New York Car Accident Lawyer
At Fusco, Brandenstein & Rada, P.C., we believe in fighting hard for our clients. We also believe in keeping them informed about the status of their cases. Our New York car accident lawyers are available to offer aggressive representation. Throughout the process, we’ll gladly answer any questions you may have. Learn more by contacting us online or calling us at 516-496-0400 for a free case review today.