Medical bills can start to pile up quickly after an accident, which is why so many personal injury victims are eager to reach a settlement with the at-fault party’s insurance company. In some cases, a settlement can be reached shortly after the insurance adjuster has all of the information he needs about the claim. But in other cases, it can take much longer to settle a personal injury claim. Why? Here are some of the factors that could be to blame for the delay:
The Amount of Compensation
High-value claims will take much longer to settle than low-value claims. Why? Insurance adjusters will not hand over six- or seven-figure checks until they are sure that the recipient deserves every penny. This means insurance adjusters will thoroughly investigate every detail of high-value claims to look for inconsistencies in the victim’s story, questionable injuries, or opportunities to pin some of the liability on the victim. It can take time to analyze every detail of a personal injury claim, which is why high-value claims take longer to settle.
Insurance adjusters will not even begin discussing compensation until they are confident that their policyholder was to blame for the accident. Therefore, if the insurance adjuster in your case is questioning who is at fault, this will delay a settlement. This can happen in any type of case, but it is common in cases where multiple parties were involved, such as car accidents with three vehicles.
Ideally, personal injury victims should wait until they have reached their maximum medical improvement before they start negotiating with the insurance company. This is recommended because an attorney cannot calculate your current damages and estimate your future damages until you have reached this point in your recovery. Some victims are able to reach their maximum medical improvement within a few weeks, but it can take months for others to get to this point.
Some personal injury victims are willing to wait for months if that’s what it takes for their attorney to wear the insurance adjuster down and reach the highest settlement possible. Other victims, however, are more interested in reaching a settlement quickly so they can pay their bills and close this chapter of their lives. If moving on is more important to you than squeezing every penny out of the insurance company, you will be able to reach a settlement much faster.
If you have been injured, contact the personal injury attorneys at Reisch Law Firm right away. Our personal injury attorneys will work tirelessly to reach a favorable settlement as quickly as possible. Schedule a free consultation today by calling 303-291-0555 or filling out this online form.