What’s is the timeframe to settle case with an insurance company?

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What’s is the timeframe to settle case with an insurance company?

Asked on April 2, 2013 under Accident Law, Pennsylvania

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

The property damage is usually resolved early in the case.  The personal injury claim is separate from the property damage claim.

When you complete your medical treatment and are released by the doctor or are declared by the doctor to be permanent and stationary, which means having reached a point in your medical treatment where no further improvement is anticipated, obtain your medical bills, medical reports, and documentation of wage loss.  Compensation for the medical bills is straight reimbursement.  The medical reports will document the nature and extent of your injury and will be used to determine compensation for pain and suffering, which is an amount in addition to the medical bills.  Compensation for wage loss is straight reimbursement.  The time factor for settling the case depends first on how long it takes to complete your medical treatment and then how long it takes to obtain your medical bills, medical reports, and documentation of any wage loss.  After that, the time factor depends on how long it takes the insurance company to respond to your demand letter and supporting documentation.  Set a deadline in the demand letter for a response  time of about two weeks.  If the insurance company has not responded, call and inquire about the status of the case, and what is causing the delay and when the insurance company will respond with a settlement offer.  If the case is settled with the at-fault party's insurance carrier, NO lawsuit is filed.  If you are dissatisfied with settlement offers from the at-fault party's insurance carrier, reject the settlement offers and file a lawsuit for negligence against the at-fault party/registered owner of the vehicle.  Depending on how far the case goes into litigation before being resolved  will determine the time factor at this point in the case.  Litigation could add several months or possibly one or more years to the case.  If the case has NOT been settled with the insurance carrier, you must file your lawsuit prior to the expiration of the applicable statute of limitations or you will lose your rights forever in the matter.  If settlement negotiations are proceeding, but the statute of limitations is approaching, file your lawsuit because if you don't and the statute of limitations expires, you will have lost your rights in the matter forever.


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