How long can the plaintiff take to sign the settlement agreement?
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UPDATED: Feb 3, 2013
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Insurance Question from Castle Hills, TX
Asked on 02/03/2013
How long can the plaintiff take to sign the settlement agreement? Is there a time limit or not? What is the average time? Thank you.
Answer given on February 14, 2013
If you are involved in an auto accident, the insurance company that is responsbile to pay for your damages and injuries will try to settle the claim quickly. Often times there are laws in the states that require the insurance company to settle within a certain number of days, unless there are circumstances that prevent it.If you have lingering injuries you will not want to settle too quickly, as you want to be sure that you are able to receive proper treatment for your injuries.If the adjuster is pushing you for a settlement, you can explain that you are still suffering from the injuries and want to wait. The adjuster may close the claim due to inactivity, but they will reopen it when you are ready to move forward.Reasonable time should be taken in this process. If you wait for an extended period of time, the insurance coampany may become less willing to work with you. Settlement should be done without a few months of the incident, not years.
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