It is Important to Remain Patient When Working with Insurance Agencies
When considering whether filing personal injury claims is the right move for you, a common question we are asked is how long will the case take.
Unfortunately, there is no straightforward answer here.
One of the main reasons determining how long a case will take is difficult is because of insurance companies. Depending on the nature of your accident and claim, insurance companies can put up quite the fight. They will use every trick in the book to try and minimize a settlement or delay paying you for as long as possible.
Why, you ask? Today we are going to explore just that. Money is of course in the center of both the long and short answer here, but that should come as no surprise.
The Role of the Insurer in a Personal Injury Claim Settlement
Before pursuing a car accident or other personal injury claim, it is important you understand the role of the insurance company. Even if you pay your premium every single month and are considered a good customer for the insurance company when it comes time to get your money and pursue a claim all of that seems to go out the window.
How do insurance companies make money?
Insurance companies make money and maximize their own profits by delaying payment or altogether denying customers the benefits they pay for. Sadly, insurers are known for using a wide range of tactics to avoid paying even legitimate personal injury claims — which is how they are able to make money.
What incentive to insurance companies have to make money?
Because a big percentage of many insurance company’s profits come from interest and returns on investment (ROI), they are extremely motivated to delay payment and leave personal injury claims unresolved.
Why do some claims take longer than others?
There are many different reasons why personal injury claims can take so long. The insurance claim handling process is a complex maze that can frustrate even the most tough-skinned individuals. From assignment problems to agent caseload and the type of claim that is being made, there are numerous (legitimate and not) factors that go into the length of time a case will take.
That being said, there are a handful of reasons why some claims take longer than others:
- The type of personal injury accident
- If the victim required extensive medical care and treatment (this could lead to larger settlement)
- How well the defendant is cooperating
- If the case goes to trial or not
How long does it usually take to resolve a claim?
The amount of time a claim will take will depend on many different things. It could take a matter of weeks, but some personal injury cases are drawn out for months or even years. Your best bet is to contact a personal injury lawyer who understands your case and can give you information specific to your situation. While insurance companies are often the reason why claims can get delayed, there are other factors that should be taken into consideration.
Is This My Only Option?
Depending on your case, unfortunately, this may be your only option. However, each claim is unique so the timeline may differ drastically from person to person. If you want to hang in there and get the compensation you deserve, you must be patient and willing to stick it out.
If you have any questions about this or would like to learn more about filing a personal injury claim, please contact Shamieh Law today.