Insurance companies know accidents put victims in a bad financial spot. They frequently take advantage of this fact by quickly sending a settlement release to those involved. The problem is, that check may not cover all of your losses.
The insurance companies usually know that your case is worth more than the check they’re cutting. They are hoping you’re desperate enough to settle quickly and for far less than you deserve.
When Will My Check Get Here?
Depending on your case, you can expect a check from an insurance company within 4-6 weeks after signing a settlement release. Sometimes, an insurer will include a check along with the release. There will be a stipulation that once the check is cashed, the ability to pursue higher damages is no longer available.
So how do you find a balance between the fast cash the insurance company may be offering now and the potentially larger settlement your accident and injuries may actually be worth? An experienced car accident attorney will be able to help you navigate this tricky path. Their goal is to help you end up on the other side of a settlement with a larger check and better odds at the full financial and medical recovery you deserve.
At Carner & Devita, we’ve been representing the victims of Long Island car accidents since 1957. Our experience dealing with insurance companies and their attempts to keep victims from the settlement they deserve means we can help you pursue the maximum amount in damages possible.
Consultations are free and pose no obligation for you, so give us a call at (631) 543-7070 and we can discuss the details of your case and start the fight for your full recovery today.
Who Pays My Medical Bills After My Accident?
If you’ve been in a bad car accident, one of your first priorities is figuring out how you’ll be able to afford medical bills, therapy, car repairs, lost wages from missed work, and property damage. During this time, you may be waiting on an at-fault driver’s insurance company to issue an offer for the damages caused by their driver’s negligence.
While your personal injury protection (PIP) insurance should cover medical bills up to at least $50,000 for any accident – whether or not you were at fault – the costs associated with an accident can easily surpass this threshold. In these cases, you will need to file a third-party bodily injury liability (BIL) claim against any at-fault drivers.
What to Expect if You Sign a Settlement Release Early
Insurance companies and their adjusters will almost always expect to get a signed release from you before they write you a check. This process can take several days from the time your claim is fully processed. Getting a check in the mail can take even longer than that.
If your claim is being investigated there will be delays in receiving your initial settlement offer. Your insurer may request more information or they may tell you that certain coverage areas or costs are being denied.
Note that it’s critical for you to fight against any denials since insurers often misinterpret the language of their own policies to their financial advantage. An experienced Long Island car accident lawyer can help you in these situations.
Eventually, once a claim value has been determined and a settlement offer made, a check will reach you. In many cases, receiving this check will likely be the end of your dealings with the insurance company. This usually takes a little over a month, but it depends entirely on your specific case and the practices of the insurance company you’re dealing with.
After receiving a check, you may be pleased to have it over and done with and to have money in your pocket. However, consider the damages you may not be covering if you accept the initial offer. If you’ve sustained any sort of injury that has long-term impacts or if you’re missing work, the initial offer from an insurance company is likely not going to cover all of your costs.
In these situations, it’s always vital to have a car accident attorney on Long Island with knowledge of the insurance claims and appeals process. They can review your damages and arrive at an accurate estimate. You can then counter the insurer’s offer with a demand letter stating the full expected coverage value.
Remember that once you sign a release, you cannot counter with a claim for more damages. That’s why you must have an experienced attorney review any settlement offer before you sign, especially if it obviously won’t cover all of your known costs.
Fighting for Fair Compensation in a New York Car Accident
If you’ve recently been in an accident on Long Island, your head may still be spinning and your to-do list might be getting longer and longer. Opposing insurance companies won’t hesitate to send you a settlement letter when they know their driver is at fault, but don’t rush to sign! Going over the details of your case with a local New York car accident lawyer can put you on the road to the financial recovery you really need.
Though a quick payout seems attractive, the best way to a fair and just settlement is typically by declining the initial offer from insurance companies. Their primary concern is profit, and they’re able to maximize that by offering you as little as possible as early as possible.
When looking over the settlement offer from an insurance company, consider giving Carner & DeVita a call for a free consultation at (631) 543-7070. Even if you think you’re likely to take this early offer, speaking with an experienced New York car accident lawyer can help give you some useful context regarding the settlement release language.
In the end, we can help you fight against the insurance company and pursue the full compensation you deserve, so don’t sign on the dotted line just yet! Give Carner & Devita a few minutes of your time, and it could mean a much brighter and quicker recovery in your future.