Many people are curious about how long it takes to get a car accident settlement. It depends on a number of factors. Let’s take a closer look at some of the factors that can affect the length of time it takes to receive a car accident settlement.
Severity of Injuries
The severity of the injuries sustained in a car accident can have a significant impact on the amount of time it takes to reach a settlement. If the injuries are minor and do not require any ongoing medical treatment, then it is likely that the insurance company will be able to quickly calculate an appropriate settlement amount.
When injuries are more severe or if they require long-term medical care, then it is likely that negotiations between the insurance companies will take longer.
Insurance Companies Involved
Another factor that can affect how long it takes to reach a car accident settlement is the number and type of insurance companies involved. If there is only one insurance company involved, then usually only one adjuster will need to be involved in negotiating the settlement amount.
However, if there are two or more insurance companies involved, then each company will need to appoint an adjuster, which can lengthen the negotiation process.
Jurisdiction in Which Accident Took Place
Finally, another factor that can affect how long it takes to reach a car accident settlement is the jurisdiction in which the accident took place. If the accident occurred in a state with a no-fault insurance system, then negotiations between the insurance companies may be further complicated by disputes over who was at fault for the accident.
On the other hand, if the accident occurred in a state with an at-fault insurance system, then settlements may be reached more quickly since there will be less dispute over who was responsible for causing the accident.
