If it's clear that your insured is at fault for an accident, insurance companies will want to resolve any potential claims as soon as possible so that they are not responsible for any future medical or personal expenses. If an insurance company offers a settlement soon after an accident, it's likely to be worth much less than the full value of your damages. The insurance company seeks to close the claim quickly and pay the least amount of compensation possible. Insurance companies don't worry that you will receive fair compensation or that you will fully recover from the losses of your accident.
They are profit-focused companies. The less they pay for claims, the more profits they make. People often ask us, as lawyers, if insurance companies want to resolve cases out of court and the answer is always yes. Like plaintiffs, insurance companies don't want to spend the time and money involved in a lawsuit if there's a chance they can reach a settlement agreement with the plaintiff.
This saves everyone a lot of time and money. When an insurance company offers you a settlement, you essentially recognize your client's fault in the accident. They want me to come to an agreement to avoid litigation or go to court. Insurance companies generally don't want to get legal help involved.
A car accident lawyer can help you calculate the fair amount you are owed for damages and medical expenses. The insurance company wants you to reach an agreement before seeking legal representation. When disaster strikes, how long can you keep your auto insurer waiting for a check? Usually about 30 days. Getting into a car accident can be a big headache, even if the damage is minor.
Once you file a claim, you'll ask yourself: How long does it take for an insurance company to process a claim? The short answer is usually around 30 days. However, it may vary depending on a few other factors.