When clients have their initial consultation with a car accident lawyer, they want to know how much money they can get and when they can expect it. You must go through numerous steps first, and besides securing the help of an experienced lawyer, you also must have a great deal of patience.
The insurance company will try to grind you down, but your persistence and insistence may be enough to fight back.
Time is of the essence when you are waiting for compensation after a car accident. You may face financial difficulties and need the money you will get from a settlement check. However, you must take your time with things during the settlement process because while time may be money, taking too little time may cost you money.
You must hold out for everything you deserve, or the insurance company gets away with profiting at your expense, and you end up with the short end of the stick.
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You Must Hold Out for as Long as Necessary
Knowing how long it will take to get your check is almost impossible. Many things must happen before you can deposit a check into your account, and everything starts with your phone call to your car accident attorney. There is much legwork that your lawyer has to do before they can even begin to file a claim on your behalf. You will be doing yourself quite a disservice if you rush the process.
What Needs to Happen Before You File Your Claim?
Your car accident lawyer will need to perform a full investigation of your accident and will gather the evidence that you need. Then, your lawyer will work with expert witnesses to estimate the value of your case.
There is no way around the fact that you have to know what your case is worth before you file your claim. The insurance companies are in the driver's seat when they have information that you do not.
You will also need to reach the point of maximum medical improvement before you can file a claim. It may take multiple medical procedures and lengthy rehabilitation before you know what your prognosis is for the future. Thus, you must wait to file a claim.
You cannot go back and try to get more money if you learn new things about your health condition after receiving your settlement check. The cost of your settlement check is the release form you must sign as part of your agreement with the insurance company.
You Cannot Afford to Act Out of Haste
You want to avoid filing a rushed claim because mistakes will cost you money. For example, you may still need proof to demonstrate liability. If so, the insurance company will deny your claim, and you may have to fight them in court, adding far more time to your case.
You can leave money on the table if you do not have the correct estimate for your damages or proof of your suffering. The bottom line is that your attorney needs to take the time to do things right to ensure that you can maximize your financial compensation.
Insurance Companies Take Their Time to Respond to You
Insurance companies usually wait to respond to your claim, and it will take even longer if you file a demand letter. They may ride the line of bad faith to make you even more financially desperate and can take many weeks, or even months, to give you their initial response.
Even if the insurance company makes you a settlement offer, it is not necessarily a cause for celebration. The initial settlement offer usually does not reflect reality. The insurance company will offer far less than you deserve. This is just the beginning of your fight.
You Have to Negotiate When the Settlement Offer Is Not Adequate
You may have to go through a lengthy negotiation process before getting the insurance company on the same page with you. Every time they make you an offer, your attorney must evaluate it and discuss whether to accept it.
The settlement offer will often not be enough to pay your damages. The insurance companies must pay you for your economic damages, such as medical bills and lost income. They will also have to compensate you for non-economic damages, such as emotional distress and pain and suffering.
Your car accident attorney may give a counteroffer to the insurance company, and each offer and counteroffer takes time. Insurance companies know that, and they make sure that the progress in your claim is incremental. They are not in any hurry to move your case quickly unless it benefits them.
Litigation (or the Threat of it) Is Your Most Powerful Tool
You may think rejecting a settlement offer slows the claims process, but a lawyer can exert some control over the timing by upping the pressure on the insurance company.
Hiring a lawyer gives you more leverage than you may otherwise have. Showing the insurance companies that you know your legal rights and that you mean business may also motivate them to settle your case.
Most of all, insurance companies are afraid of going to court.
Insurance companies fear three things about litigation:
- They must pay for their legal costs if your case goes to court. Your lawyer works for you on a contingency basis, meaning you do not have to pay for your lawyer out of your pocket. Insurance companies pay their attorneys hourly or flat fees, which is an expense that comes from their profits.
- A jury will decide your case. There is less predictability when dealing with a jury of people with human emotions. Juries are capable of practically anything, and insurance companies know it. Sometimes, a jury can award you far more money than you may have gotten in a settlement agreement. The flip side is that you take the risk of getting nothing, but you may have no choice but to take that chance.
- Even though insurance companies like to drag things out, they also want the certainty of closing a claim. Litigation can add an indefinite time to a case, meaning that the insurance companies must keep the claim open on their books.
You Can Settle Your Case Even After You File a Lawsuit
You may also reach a settlement agreement at some point, even if you began your case as a lawsuit in court. If you have gone to court, it may take longer to get a settlement than during the claims process.
Nevertheless, you may end up in an even stronger negotiating position if you develop your case further during the discovery process. The tradeoff is that it can take many months to reach the point where the insurance company is more motivated to settle your case.
How You Can Address Financial Concerns While Waiting for a Settlement
When settling a car accident case, you often weigh time and finances, and it can take longer to get more money. In the meantime, your bank account can suffer.
Money is one concern you may have when waiting to settle your claim, and you have bills that you must pay when you are not earning money on the job. Your financial position may be precarious, and the insurance companies know this. They believe that time is on their side and try to manipulate the situation to their advantage in the claims process.
You do not want panic to get in the way of putting pressure on the insurance company when necessary.
You may work with a litigation finance company to earn money while your case is pending. The company will buy part of your case, writing you a check, and you will not have to pay it back if you do not win your case. Presumably, the litigation finance company will only invest in your case if they review the evidence and conclude it has merit.
This can keep you afloat while waiting for a settlement. You can use the interim funding to hold out for more money when the insurance company is taking time to get on the same page about finances.
You Begin the Legal Process When You Hire a Car Accident Attorney
While it seems that much is beyond your control in a car accident case, there is one thing that you can do to get your case moving. You decide when you hire an experienced car accident lawyer to handle your case.
Doing anything in the legal process without a lawyer is not a good idea because any errors you make when dealing with things alone can lead to complications. Insurance companies will treat anything you try to do as binding, and a lawyer cannot always fix your mistakes.
You should retain an attorney as soon as possible after your car accident. There is no upside to delaying legal help, and the sooner you have an attorney, the less you have to worry about the insurance company trying to take advantage of you.
You cannot control everything in a car accident case, but you can hire an attorney. There is no reason to wait, mainly because the insurance company sees a giant target on your back when you do not have a lawyer.
It may be difficult for you to do anything independently after you have suffered an injury in an accident. You must find lawyers and speak with them during an initial consultation, but if you physically struggle, your family can do this for you. You cannot overlook this detail, nor should you put it on the back burner.
Once you hire an attorney, they will begin work on your case. They will diligently pursue all leads and work for you to get every dollar you deserve. Then, you can get more peace of mind, allowing you to focus on your health and other details you must address.
Legal Help Does Not Cost You Anything Out of Pocket
The most crucial fact you must remember is that you do not have to pay out of pocket to hire an attorney. Your representation agreement states you only pay your attorney if and when you win your case.
You have enough financial matters to worry about once you have suffered an injury in an accident without having to stress about paying money to a lawyer. Thankfully, the only thing standing between you and legal help is a phone call and an initial consultation.
Never Rush the Settlement Process
When seeking car accident settlements, patience is key. It can be tempting to rush through the process in hopes of a quick resolution, but reaching a fair and just settlement takes time.
One of the main reasons why patience is necessary is a thorough investigation. To build a strong case and negotiate for the maximum compensation, your attorney will need to gather all the necessary evidence and information. Rushing through this process could mean overlooking crucial details that could make a significant difference in the outcome of your settlement.
Another reason to be patient is the negotiation process itself. Settling a car accident claim requires skillful negotiation between your attorney and the opposing party's representatives. This back-and-forth can take time, as both sides aim to reach an agreement that is fair and satisfactory. Rushing through this process could result in a settlement that does not adequately compensate you for your injuries and damages.
Insurance companies often want to settle quickly and for as little money as possible. They may try to pressure you into accepting a settlement offer that is far less than what you deserve. By being patient and allowing your attorney to negotiate on your behalf, you increase your chances of securing a fair and just settlement.
Consult a Car Accident Lawyer Today
The first step to getting an insurance check for a car accident is consulting a personal injury lawyer in your area. It costs nothing, so begin reaching out for legal representation as soon as possible.
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