How Long Will It Take to Settle Your Personal Injury Claim?
If you are waiting for a settlement in your personal injury case, you may be wondering how much longer it could take. You may even be tempted to take a quick payment just to get it over with, even if that means less money in your pocket.
When it comes to personal injury cases, however, faster isn’t always better. You may be surprised by the amount of money you could be leaving on the table if you speed through the process. Let’s examine the different factors that could delay your case and the different types of compensation you could recover with patience and perseverance.
What Can Make Personal Injury Settlements Take Longer?
Here are some of the many factors that could slow down the settlement process in your personal injury case:
- Disputes over who was at fault – In some personal injury cases, it’s clear who is largely or entirely to blame. However, if it’s not obvious who was at fault, it may take longer to review the facts and reach a settlement.
- Multiple defendants and insurance companies – If multiple parties share a portion of the blame, the settlement process could take much longer. That is especially true if a separate insurance company represents each party, each with its own incentive to shift the blame.
- The amount of money at stake – The greater the potential value of your personal injury claim, the harder the other side will likely fight against it. When a lot of money is at stake, insurance companies and defense attorneys will do everything they can to minimize, delay, or deny your settlement.
- The extent of your injuries and recovery time – You often must wait until your injuries have fully healed or reached “maximum medical improvement” before reaching a final settlement. If you have extensive injuries and take a long time to recover, it will likely delay your settlement.
How Are Personal Injury Settlements Paid Out?
Once you settle your personal injury case, a check will typically be made out to you and your attorney, who will pay any medical bills, legal fees, or other debts you owe. Then, the way you get paid the remainder of the settlement is typically up to you. You can either choose to receive all of your money at once in a lump sum payment or collect the money in installments over time through a structured settlement.
How Much Compensation Is Typical in Personal Injury Cases?
Every personal injury case is different, which means there is no “typical” value for a settlement. The amount of compensation you receive is based on several factors, including the losses you suffer as a result of your injuries and the amount of insurance coverage available.
You can get a rough idea of the potential value of your settlement by estimating the costs of the following:
- Your injury-related medical bills and other healthcare expenses
- The value of any wage losses you suffered from missed time at work
- The projected costs of medical care you will likely need in the future
- The projected value of losses in your future wage-earning capacity
- The intangible costs of your pain, suffering, and losses in quality of life
- Incidental expenses, such as costs of travel to medical appointments
Contact Pines & Goldenzweig, PLLC, for Legal Assistance on Your Personal Injury Case
Working with a trusted attorney is the best way to pursue full and fair compensation for your personal injury claim. At Pines & Goldenzweig, PLLC, we can help you seek justice and fair compensation for your losses, no matter what it takes.
Contact us today to discuss the details of your personal injury case in a free initial consultation.