How long does it take to receive a settlement from a car accident?

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how long does a car accident settlement takeAfter a car accident, you may be anxious about when you will get your compensation. Unfortunately, there is not a definite answer, since there are often multiple parties involved and many situational factors at hand.

How long it takes to get a settlement from a car accident can vary from around a month to often taking around two months for everything to be completely settled. The quickest route to receiving a settlement is if you find that the initial insurance settlement meets your needs and you take it. 

If you decide that the insurance offer is not satisfactory, you may decide to sue for the damages. This is a longer process, but it is worth it for many victims.

If you’re less than 50% responsible for the accident, you can file a lawsuit against the party that should be held responsible for your damages and will collect compensation upon winning. A lawsuit can take anywhere from a few months or a few years to be settled, depending on the details of the accident, the damages that are being claimed, and more.

How To Reach a Car Accident Settlement

After a car accident scene is fully investigated and the police have cleared the scene, call your insurance provider and report the accident. Insurance providers take the basic information about the accident from you when you call. After that, they rely on police reports to determine settlement amounts.

Georgia requires all drivers to actively hold car insurance at all times, so insurance companies assume liability in the event of an accident. Car accident settlements can be reached in or outside of court.

Reaching an Insurance Settlement Outside of Court

Insurance companies will wait on the police report before determining compensation. Since Georgia is an “at-fault state”, the fault of the accident is divided up between the parties involved, and the amount that is paid out is based on how at-fault they were for the damages. These numbers are also based on policy limits.

If the initial insurance settlement is good and all parties are satisfied, your car accident case settlement can be received in one to two months. This is the best case possible. Many times, initial insurance settlement offers are low or it is unclear who is at fault. How long it takes to get a settlement from car accident from these cases take longer, and legal action is often needed. 

When initial insurance settlements are low and do not cover the actual amount that you need, it may be due to another party with low-coverage or no insurance. Either way, you deserve to be compensated appropriately for your losses, and you can take legal action to collect compensation in full.

Receiving a Settlement from a Lawsuit

When a settlement can’t be reached outside of a lawsuit, one party may sue the other party, or both parties may be suing each other for damages. In Georgia, you must be less than 50% responsible for the accident to receive any settlement compensation from a legal claim. Additionally, your settlement amount will be reduced by the amount at-fault you are for the accident.

To receive a fair settlement from a car accident lawsuit, work with a top Atlanta car accident lawyer like Mike Rafi. He’ll review the details of the accident, all damages that occurred from the accident, and the evidence of your damages. You may have a complex, complicated case with a large number of damages and losses, or you may have a straightforward case with a few clear damages that deserve full compensation. No matter the case, Mike Rafi will lead you on the path to success.

When Do I Need to File a Lawsuit?

If you’re still waiting on a settlement from your car accident from the insurance provider outside of court, it is important to realize that you are only allotted a certain amount of time to file your legal claim and receive compensation for damages. 

O.C.G.A. § 9-3-33 states that all personal injury and wrongful death claims need to be brought to the court within two years of the accident. As for loss of consortium claims, which often accompany wrongful death claims, you are allotted four years from the event to take legal action. 

O.C.G.A. § 9-3-32 states that all personal property damages need to be filed within four years at the local court, which may include the full price of a car that is totaled, replacement of any damaged possessions, or repairs for damages that have been done to your vehicle.

Contact Mike Rafi for Help Today

Whether you were just involved in the accident or you’ve been battling with the insurance companies for a while now, Mike Rafi is here to help. Schedule a free case evaluation to discuss the details of your accident and damages, and Mike can help you decide what’s best.

Get in touch with our team today by calling 404-948-3311 or send us a message now to schedule your free consultation!

2020-11-18T11:08:49-05:00