You can get an insurance settlement check fairly quickly after a car accident. The average time in Florida to receive a check is four to six weeks. Once your claim is resolved, the insurance company has a mandatory deadline to make your lump sum or first structured payment. According to section 627.4265 of the Florida Statutes, the insurance company has 20 days from the time you signed a settlement agreement to offer payment.
If the insurance company doesn't pay on time, it may owe you additional interest. On average, it can take four to six weeks to receive compensation from a settlement. The time frame depends on the case and how long it takes to complete the entire process. Your lawyer will be the first to receive the compensation check and will distribute the funds.
They'll take out contingency fees, out-of-pocket expenses, and anything else that needs to be covered. After paying all the expenses, you will receive the check from your lawyer. Negotiations to reach an agreement could take several months. Once the investigation is complete and you arrive at MMI, our Gainesville personal injury lawyers prepare a settlement lawsuit.
A demand for settlement is a letter with attached files sent to the insurance provider or to the opposing party. If it's a large insurance company, they may have more resources available to investigate your accident, and delays in the claims process are not uncommon. The purpose of this form is to permanently prevent the injured party from seeking additional legal recourse for the related accident. Remember that you don't have to take the first check the insurance company sends you; talk to a car accident lawyer first.
In some cases, requesting a trial or, at least, having a personal injury attorney can increase the compensation you can receive from a settlement. Most personal injury settlements are paid in a lump sum, meaning that the injured party is paid in full amount of their damages. Accident reconstructionists use evidence from their accident to “reconstruct how the accident occurred.” There may be one or more reasons why your case takes longer to resolve than other car accident cases. If the injuries are serious and have a long road to recovery, the settlement should be deferred until the person fully recovers.
We may have video evidence from a traffic camera showing how the accident occurred, or the other driver could admit fault for the cause of the accident. Any expenses made as a result of the accident would be taken into account and then a final decision would be put in place to reach an agreement. According to the Center for Disease Control and Prevention, only Florida has one of the highest accident rates in the United States of America. Throughout his career, Michael has dealt with thousands of accident cases in Florida, recovered millions of dollars for his clients and made him a member of the MultiMillion Dollar Advocates Forum.
As soon as your personal injury attorney receives the settlement check, you can keep it in an escrow account and wait for it to expire. The term pain and suffering refers to the physical or emotional distress that plaintiffs may suffer after an accident. If your case must go to court to get the fair financial settlement you deserve for your injuries, an experienced attorney can help.