One of the most dreaded parts of an accident is dealing with an insurance claim. While recovering compensation for your losses is essential, going through the actual claims process can be a frustrating long-haul.
How long can you reasonably expect an insurance claim to take? The exact answer will not be the same for everyone, as there are various factors at play. A free consultation with the team at Fielding Law can help answer your questions and provide advice based on your specific circumstances. Call us 24/7 at (877) 880-4090 to start getting answers today.
Let’s take a look at insurance claim timelines and factors that can impact the amount of time it takes to resolve an insurance claim.
The Ideal Insurance Claim Timeline
Imagine the following scenario in Texas to give us a baseline: What is the “best case ” insurance claim timeline?
In this scenario:
- The injuries don’t require ongoing or lengthy medical treatment
- The insurance company doesn’t deny the claim
- There are no disputes over fault or settlement amount
Driver A was turning left and collided with Driver B, who was driving straight through the intersection. Driver B suffered a minor sprained shoulder and needed to see a physical therapist for a few weeks while it healed. The total damages for the personal injury came out to $2500 for Driver B.
Since the accident happened in Texas, an at-fault state, Driver B makes an insurance claim with Driver A’s insurance company for compensation for her losses.
Step 1: Providing notice of claim (15 days)
Once the claimant has notified her insurance company of the accident, the insurance company has 15 days to acknowledge the claim and begin processing it.
This process will include sending her essential paperwork, such as proof-of-loss forms, and beginning the internal investigation process.
Step 2: Accepting or denying the claim (30 days)
Next comes the second step of the claims process: determining whether to accept or deny the claim. During this phase, the insurance company may gather and review evidence and documentation to help determine whether the claim is legitimate.
As a business, it is in the insurance company’s best interest to find a way to deny a claim or reduce the amount of compensation that will be offered. Once the insurance company has reached a decision, it will inform the claimant of its decision.
In a “best case” scenario, as mentioned above, a simple insurance claim in Texas would be resolved and paid out within about 35 days when there is no need for additional investigation: the insurer has 15 days to acknowledge the claim, 15 days to accept or reject it once it has your documentation, and five business days to pay.
As mentioned, though, there are often many factors at play that can impact the timeline of an insurance claim.
Factors That Can Impact Insurance Claims
The payout timeline mentioned above is not realistic for many claims involving personal injury. The truth is that a number of factors involved can have an impact on the amount of time an insurance claim takes. A few of these factors are the type of insurance claim, the time it takes to determine fault, the time it takes to heal, and the time it takes to negotiate a fair settlement.
First-party or third-party claim
Depending on the state’s fault laws and the circumstances of the accident, a claim may be made either to your own insurance company or to the other party’s insurance company.
In a first-party claim, you have a contract with the insurance company to fulfill your policy. When you file a third-party claim, you do not have a direct contract with the insurance company. The insurance company’s primary obligation is to the policyholder. This can impact the timeline of an insurance claim.
Determining fault
Sometimes, liability may be easy to determine. In many cases, however, it can take time to fully investigate an accident to determine fault.
Investigating an accident can involve reviewing evidence such as eyewitness testimony, video footage, the police report, and vehicle data recording information.
Reaching MMI
Maximum Medical Improvement, or MMI, is a term that refers to when a person’s condition is not expected to change. This does not mean that he or she is fully healed, but the condition is not likely to drastically get better or worse.
Especially with serious injuries, there are advantages to not accepting a settlement right away. It can take time for the full extent of injuries to be visible and understood. In the immediate aftermath of an accident, it may not be possible to predict whether the person will fully recover, nor the full amount of medical treatment and therapy that will be necessary.
Negotiating a fair settlement
In an ideal world, navigating an insurance claim would be an easy process. After all, we pay insurance premiums regularly to get coverage when we need it. In our experience, however, that is not always the case.
Often, insurance companies try to lowball injured victims, hoping to pressure them into accepting a settlement right away. In order to recover maximum compensation, on the other hand, it can take some negotiating by experienced personal injury attorneys working on your behalf.
Let Fielding Law Help You After a Personal Injury
If you or a family member has suffered a personal injury, you may feel overwhelmed with many questions on your mind. Naturally, you likely want to recover compensation as fast as possible so you can continue to move forward with your life.
A free consultation with our team can help you weigh your options and choose what course is best for you and your family. Fielding Law offers clients trustworthy, personalized representation they can trust. Not only do we focus on the legal processes so you can focus on healing, but we also fight for our clients to recover the full compensation that they are entitled to receive.
To smooth out the legal processes for a more favorable outcome in your case, contact Fielding Law. You can even schedule a free consultation with our firm today. Contact us at (877) 880-4090 or reach out using our online form.
