How Long Do Car Accident Settlements Take?
Car accidents are unfortunate events that can result in serious injuries and property damage. Once the dust settles and the initial shock subsides, many victims begin to wonder how long it will take to receive a settlement for their damages.
There is no one-size-fits-all answer to this question, however, there are several factors that can influence how long a car accident settlement takes. Having an experienced attorney from a reputable auto accident law firm can speed the process along and alleviate some of the stress that accompanies these situations. Enlisting the services of an experienced attorney can lighten the load, ensure nothing goes overlooked, and provide knowledge and assistance throughout the entire process, allowing you to heal from the physical and emotional aftermath of your accident.
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What is the average settlement timeline for a car accident in Colorado?
Determining a car accident settlement timeline can vary widely depending on the complexity of your case. Cases involving serious bodily injury or substantial property damage may take longer to settle.
Injury accident
The seriousness of any injuries incurred due to the auto accident can influence your settlement timeline. Waiting until you have reached maximum improvement before filing provides a good idea of the full cost of the injury so that an appropriate claim can be submitted to the insurance company. For serious injuries a settlement can take up to a year or more for the parties involved to receive and review all relevant information and come to an agreement.
Non-injury accident
In the state of Colorado, insurance settlements take an average of four to six weeks to be resolved if there is no serious bodily injury as a result of the accident. This is dependent on cooperation of the insurance company and who is at fault has been determined.
In the event that a settlement agreement cannot be reached your car accident case may need to be settled in court, should this happen, you can expect this to take several months to a year to be resolved.
Our team of experienced car accident attorneys want you to get the compensation you deserve as quickly as possible. We can help you navigate the process and answer any questions you may have regarding your case. Our team is dedicated to ensuring appropriate restitution is made with as little strain as possible. Contact us for a free case evaluation. Our devoted team is ready to evaluate your case and go over the best options available regarding your individual situation.
What is the process to get a car accident settlement?
In the state of Colorado, the statute of limitations for auto accidents is three years. The clock starts from the date of the accident; this means agreeing on a settlement should be handled quickly and efficiently to ensure time does not run out on your case. The process of getting a car accident settlement is relatively straightforward, however, some important details can become more complicated.
The process:
1. Filing a claim
To start, a claim needs to be filed with the negligent driver’s insurance company. You can file this independently or your attorney can file on your behalf. If you have filed and subsequently retained an attorney, your legal representative will notify the insurance company that they are now representing you.
2. Investigation
Following the car accident claim, the insurance company will investigate the accident to evaluate liability and assess the damages.
3. Policy review
Both the insurance company and your attorney will review state laws and the insurance policy to determine any influencing factors or limitations for your car accident settlement.
4. Demand letter
If you have retained legal counsel, your attorney will outline aspects of your case in the form of a demand letter that will be sent to the insurance company that includes:
- Your theory of the case
- Listing the full extent of medical expenses and lost wages
- Listing any property damage
- Listing and explaining any non-economic damages such as pain and suffering
- Expressing a demand for a specific settlement amount
5. Settlement negotiations
Once the insurance company has reviewed the demand letter there are a number of potential responses you could receive:
- The settlement amount demanded is accepted and your case can proceed to finalize the agreement
- A counter offer is made and negotiations continue
- The insurance company fails to respond and requires a follow-up
- The claim is denied
6. Settlement or trial
If an agreement is reached between the parties then the negotiations are finalized and enter into a settlement agreement. If an agreement cannot be reached, a personal injury lawsuit can be filed to obtain compensation and may require a trial.
What damages can I recover?
When you are the victim of an auto accident, ensuring you receive the compensation you deserve can be a tedious process. The last thing anyone wants to deal with is the technicalities involving their case. There are a few different forms of damages that can be recovered following an auto accident:
Monetary damages
Monetary damages means money to be paid by an individual or organization to someone who has been harmed or lost money as a result of some form of wrongdoing.
Non-monetary damages
Non-monetary damages are losses that are not financial that an individual may suffer as a consequence of an accident. These damages have no monetary value and are intended to reimburse the victim for losses such as pain and suffering.
Punitive damages
Punitive damages are intended to punish the responsible party for their negligent and dangerous conduct that caused harm, not compensate the victim.
What factors into how long it takes to settle a car accident claim?
Some cases are fairly straightforward, these cases can be settled rather quickly. More complex cases require a lot of work to get the outcome you deserve. Factors that influence the time it takes to settle include:
- Ensuring all medical documentation is gathered
- Determining and proving liability
- The extent of injuries and other damages
- The quality and quantity of evidence
- How quickly the insurance company responds
- The time involved to negotiate a settlement
- Whether or not you enlist legal counsel
What can I do to speed up a car accident settlement?
It is understandable that you would want to get your car accident settlement as quickly as possible and put the incident behind you. There are a few steps you can take to speed up the process:
- Get medical attention
- Ensure you gather all relevant documents pertaining to your case
- Gather evidence
- Enlist the expertise of an experienced attorney
How Can An Auto Accident Lawyer Help Me After A Car Accident?
The knowledge and aid of an experienced auto accident attorney can be priceless. The process and laws regarding these matters can be difficult to understand and navigate. A personal injury attorney will fight to ensure you receive the best possible outcome as well as help with:
- Proving fault
- Proving and arguing negligence on your behalf
- Gathering evidence
- Litigating car accident cases
- Negotiating
- Expediting the car accident claim process
The length of time a car accident settlement takes can vary widely depending on a variety of factors. Some settle quickly while others take months or even years. No one wants to deal with the legal processes surrounding a car accident. The best course of action is to enlist the assistance of an experienced personal injury attorney who can help you navigate the process and ensure you receive the compensation you deserve
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Written and Legally Reviewed By: Kyle Bachus
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Kyle is a member of the Colorado Bar associations and has served on the Board of Directors of the Colorado Trial Lawyers Association for more than twenty years in total. Over the years, Kyle has achieved justice for many clients. He has served on numerous committees and repeatedly won recognition from his peers at both the state and national level. He is proud of the role he has played in the passage of state and national legislation to protect consumers and is a frequent speaker and guest lecturer.
