This is Kentucky Injury Lawyer Tate Meagher with Meagher Injury Lawyers. The truth is that some injury claims can settle fast, but many other injury claims take months or years to settle. With my many years of experience as a personal injury lawyer and having worked several years on behalf of insurance companies defending personal injury lawsuits, I can provide insights on the factors that impact how long an injury case might take to settle.
Factors Affecting Settlement Time
While no one can predict with 100% certainty how long it will take to settle a particular injury case, several factors can influence the duration. Here are some key factors:
1. Severity of Injuries and Policy Limits
Cases where the injuries are clearly over the available policy limits tend to settle faster. For instance, if you have a torn rotator cuff injury and the at-fault driver only has minimal insurance coverage, your case could settle shortly after the accident and diagnosis.
2. Completion of Medical Treatment
It is often not wise to settle your claim quickly because it is nearly impossible to determine a fair value for your injury case until you are either done treating or have reached maximum medical improvement.
3. Gathering of Medical Records and Bills
Collecting medical records and bills can be a significant holdup. Some medical providers are not very cooperative and do not send the necessary records in a timely manner. These records are crucial for sending a demand package to the insurance company to initiate settlement negotiations.
4. Insurance Company Procedures
After submitting a demand package, you must wait for the insurance company adjuster to respond. Insurance companies have certain steps and procedures that must be followed, which can include lengthy reviews by supervisors or higher-ups within the company. In most cases, a response to the demand package is received within a month, but this is not always the case.
What If Settlement Negotiations Fail?
If you cannot reach a settlement after negotiating with the insurance company, your only option is to file a lawsuit. Filing a personal injury lawsuit sometimes prompts the insurance company to settle quickly, knowing the high cost of litigation. However, most of the time, the insurance company will retain a defense lawyer, and the litigation process can last months or even years, especially if the case goes to trial or comes close to getting to trial.
Conclusion
While it’s challenging to predict exactly how long your injury case will take to settle, understanding these factors can help you prepare for the process. I hope you found this video helpful. Please subscribe to my YouTube channel to learn more about injury cases and watch more of my videos. Lastly, if you are injured in a motor vehicle accident, slip or trip and fall incident, or dog bite incident in Kentucky, remember: don’t wait, call Tate.
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