If you’ve been injured in a car accident, it can be traumatic, both physically and emotionally. As you handle the aftermath, delays in settling your claim can contribute to your stress. Many people are under the assumption that insurance companies will promptly and willingly pay out the monetary compensation injured parties deserve. However, this is not the case. Please continue reading to learn the factors that can delay the process and how a qualified New York City Personal Injury Lawyer can help you attain justice.
What Can Delay the Settlement of My Claim?
If you have suffered catastrophic injuries, it will take time to each maximum medical improvement. Essentially, this refers to when your condition has stabilized enough to assess your losses accurately. If you don’t know the full extent of your injuries, you won’t be able to make a settlement demand, as you don’t know the full scope of your economic and non-economic damages. It’s crucial to have comprehensive medical records to ensure you have clarity on the potential future costs if your treatment is ongoing.
Another factor that can delay the settlement process is if it’s not clear who is at fault for the accident. Insurance companies will try to avoid paying a settlement. If they can assign blame elsewhere, they will always try to do so to save as much money as possible. If the opposing party has conflicting accounts of what happened, it will require further investigations and legal analysis which can be time-consuming.
It’s important to remember that New York is a pure comparative negligence state. This means you can still receive monetary compensation for your damages even if you were partially to blame for the accident. However, the amount of compensation you can receive will be reduced in proportion to your degree of fault for the accident. Therefore, you must prove you were not negligent in this matter to safeguard your legal rights.
What if the Insurance Company Acts in Bad Faith?
In some cases, a delay in your settlement isn’t accidental. Unfortunately, insurance companies resort to bad faith practices to avoid or reduce payouts. If you suspect that the insurance company is intentionally stalling, lowballing, or issuing an unjustified denial, it’s in your best interest to enlist the help of a qualified New York City personal injury attorney who can help protect your rights.
As you can see, settling a personal injury claim can take much longer than anticipated. Understanding the potential reasons for delays can help you set realistic expectations. At James Newman, P.C., we are prepared to help you negotiate for the full and fair compensation you deserve. Connect with our firm today to learn more about how we can assist you.
