Insurance companies may conduct an extensive investigation into an accident to determine fault and liability. This is one reason why it may take a long time for insurance companies to pay out.
However, this is not the only thing that can cause delays. Delays can also be caused by damage reviews, contested claims, or even unfair claim settlement practices. Certain unfair insurance practices are against the law in New York, per New York Insurance (ISC) §2601.
If you work with a lawyer on your case, they may be able to fight for compensation on your behalf in an insurance claim or personal injury lawsuit.
Multiple Parties Can Impact the Timeframe of a Case
The number of people involved in your claim can determine how long it takes for the insurance company to pay out. If you are the only party involved in your claim, the insurance company will only have one person to investigate.
However, if there were multiple parties involved in your accident, the insurance company may have to determine who was liable for what portion of the accident or handle multiple insurance claims at once. This can cause the process to take longer.
Factors in the Insurance Claim Process
There can be many steps in a personal injury insurance claim. These factors may impact how long it takes insurance companies to pay out:
Connecting with Your Insurance
The first step after an accident is getting in contact with your insurance company or the responsible party’s insurance company. If you choose to work with a lawyer, they can communicate with the insurance companies on your behalf.
Investigating an accident can take considerable time. Insurance companies often have to do their own investigating when it comes to determining liability.
Insurance policies can contain a lot of detailed information. Reviewing each individual policy can take some time as well. With multiple parties involved, there may be multiple policies that need to be reviewed and interpreted to determine proper compensation.
The damage your accident caused needs to be evaluated. Depending on the type and extent of your damages, this process can take some time. Medical experts may need to be brought in to estimate the value of your future costs of medical care, for example.
After your damage is evaluated, payment arrangements are made. While this sounds like a simple step, it can be the cause of major delays. Payment might be coming from a few different places.
If the insurance company disputes your claim, this could delay the settlement process. A disputed claim may require you or your lawyer to present additional proof to an insurance company of their client’s liability or the extent of your damages.
If the responsible party’s insurance company refuses to make you a fair settlement offer, you or your lawyer can file a lawsuit and take your case to trial.
The Deadline to Sue in New York
The longer you wait to file your claim, the longer it may take for the insurance company to pay out. Keep in mind that, per New York Civil Practice Law & Rules (CVP) §214, there is a general three-year statute of limitations on personal injury lawsuits in New York.
If you wait too long and let the statute of limitations expire in your case before taking legal action, you may lose your right to recover compensation via a lawsuit.
Call Morelli Law Firm Today
Morelli Law Firm represents construction accident victims in New York City, on Long Island, and in New York State up to Albany. If you were hurt in a construction accident, we may be able to handle all aspects of your insurance claim or lawsuit while you focus on your recovery.
Morelli Law Firm can handle all communications with the responsible party’s insurance company in your case. If we believe that the insurance company is delaying your claim unfairly, we may be able to file a complaint or take further legal action against them.
For a free case review with a member of our team, call Morelli Law Firm today at (212) 751-9800. We may be able to offer you representation on a contingency-fee-basis, where we do not charge attorney fees unless and until you recover compensation via a settlement offer or court award.