How Long Does it Get Paid After I Receive an Accident Award?

How Long Does it Take to Get Paid After I Receive an Accident Award?

For those who have gone through the trauma of an accident – emotional, physical, and financial – a settlement award distributing proper compensation can serve as something that can work to soothe some of those wounds.

However, it is important to remember that an accident award is part of a process that may sometimes prove to be very long. I always say, its a marathon not a sprint.

The Process

It’s essential, then, for people going through this process to remain patient and always remember that an old cliche applies –

“it is marathon, not a sprint.”

There is a distinct timeline that generally goes along with the process that you and your family should have in mind:

  • First, the injury happens and the victim seeks medical care. At a point during the care process, the victim will reach out to the car accident attorney or personal injury attorney regarding the situation.
  • Once that happens, the attorney will then begin the process, gathering information and studying the case to prepare the claim. It’s at that time that the details of the case – whether to proceed and if so, the amount to file for – will be decided.
  • After all the information is gathered and everything prepared, the attorney will file the claim.
  • After the claim, the victim has to complete their medical care. This is oftentimes a long and extensive period of time – it can last anywhere from a few months to a few years. Hopefully, the length of time for healing is short, but keep in mind that the next step in the collection process cannot be started until the recovery process is completed.

After the patient recovery comes one of the crucial steps in the settlement process – the fight between the attorney and the insurance company. This can be a lengthy battle.

Insurance companies by nature are reluctant to just hand out their money and are often prepared with a great deal of legal ammunition – and patience. Insurance companies have a legal budget. The insurance company can afford to wait, the victim usually cannot.

If this fight needs to be extended into legal action, that could further extend the process. At a certain point, if out-of-court actions are proving fruitless, a lawsuit might have to be filed; in that case, the entire timeline could go out even further. Years, not months.

What’s The Timeline For Getting My Settlement Money?

Again, every case is different. Some may be settled rather quickly, while others can drag on forever. There are tons of different factors –

  • type of injury,
  • type of accident,
  • type of insurance company,
  • age – that can contribute to how fast or slow that one of these cases is settled.

Remember, it’s a marathon, not a sprint.

More On The Timing Of An Insurance Settlement

Generally, though – claims without a lawsuit will usually get settled within 9-11 months of filing. If a lawsuit must be filed, then the process will get lengthened. In that case (on average) the timeline will usually be extended from 2-3 years. We have data to back up these numbers and I have also read independent data verifying similar statistics.

In either case, it is absolutely essential that you enlist the help and assistance of an attorney with a wealth of experience in these cases. At the Smiley Law Firm, we have a team of dedicated and experienced lawyers that will get you the settlement you deserve in the quickest amount of time possible.

Learn More From Smiley Law Firm’s Injury Blog

Here at Smiley Law Firm, we write about the topic of insurance issues all the time. In every personal injury case, there is an insurance element that is crucial. If people are educated on insurance, in the beginning, it makes the case flow more smoothly.
As personal injury attorneys, we believe in educating our clients and the public with the most up to date information available. We have a number of blogs and articles covering the following topics. Please read them and leave comments if you find the information helpful.

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