How Long Do Car Accident Settlements Take?

How long do car accident settlements take? There is no set number of weeks, months, or even years it can take to receive a car accident settlement.

The time depends on situation-specific factors. An experienced Richmond car accident lawyer understands how the settlement process works and can help you resolve your claim as efficiently as possible.

Car Accident Settlements Explained

Car accident claims can be resolved with a settlement agreement or a trial verdict. Far more claims settle than go to trial. “Settling” means the two sides, the victim and the at-fault party, agree on how much the at-fault party must pay the victim as compensation for the injuries and losses sustained in the crash.

To reach an agreement, representatives from each side negotiate. They present evidence, arguments, and compensation demands and offers until they reach a consensus on a fair amount. There is no average car accident settlement amount. The factors affecting compensation vary from one accident to the next.

A claim goes to trial only when the parties cannot reach a settlement. The other side may refuse to make a fair offer. Trials typically take longer than settlements. An attorney can help you determine which path to justice serves your needs.

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Steps in the Car Accident Settlement Process

Partnering with an experienced car accident lawyer quickly puts you in the best position to collect the highest settlement available. We will move through this process as swiftly as possible.

Investigating the Crash

Evidence plays a major role in your claim outcome, and with fast access to your situation, an attorney can begin gathering evidence while it’s still available.

You may not know what the strongest types of evidence are, where to look for evidence, or how to collect and present it. An attorney does. Our team can conduct a thorough investigation into your accident, examining all available sources of information to build a compelling claim.

Valuing Your Losses and Sending a Demand

You can sustain substantial losses in a car accident. In the chaotic aftermath, you might not have the presence of mind to evaluate how deep those losses affect your finances and your future. Representatives for the at-fault party will likely try to downgrade your losses to reduce the compensation they have to pay.

An insightful attorney can advocate for you, recognizing your current and future accident-related expenses and needs. The Virginia Model Jury Instructions explain the general personal injury and property damages you can pursue. We will send a letter to the other side demanding a car accident settlement to cover the damages and secure justice for you.

Negotiating a Settlement

The other side generally responds to the demand with a lower counteroffer. We will negotiate aggressively to get you the amount you deserve.

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Factors Affecting the Car Accident Settlement Timeline

How long a car accident settlement takes depends on several factors. Some accidents are straightforward. There is no doubt about who is to blame and plenty of evidence to support the demand for compensation. The other side has little opportunity to argue or stall. Unfortunately, not all cases are this clear-cut, and not all insurance companies are willing to agree.

Reasons a car accident settlement takes so long include:

Slow communication from the at-fault party’s representatives. An attorney can send a demand quickly, but the other side may take time to respond.
Accident complexities. Different parties might bear liability, each pointing the finger at the other or at you.
Negotiation disputes. The other side may bring up new arguments at each discussion, slowing the pace of reaching an agreement.
Resolving liens. We may have to clear liens with Medicaid, Medicare, or other agencies that provided care without payment, as your claim went through the settlement process.

We still stay in regular communication with you, so you never have to wonder where your claim stands.

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How Contributory Negligence Can Add to the Settlement Timeline

Virginia operates under a contributory negligence system for personal injury claims, as established in the Code of Virginia, Article 3. Victims cannot pursue compensation if they bear any fault for the crash. This means it is to the at-fault party’s great benefit to present evidence of negligence on your part.

Along with compiling evidence to support your claim, we can also look for evidence to absolve you of any assigned negligence through the “last clear chance” doctrine. If we can show the at-fault party had the last opportunity to prevent or avoid the accident, you may still recover damages even if you bear some blame.

In these situations, accident investigations can take longer because the stakes are extremely high for both sides. As a result, your car accident settlement can also take longer.

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When You Can Expect a Settlement Check

The time to get a settlement check once you have reached an agreement is usually a few weeks. The check goes to the attorney first. Our team holds the check until it clears, which usually takes five business days. Fees for our service come from the settlement check. Once we have our payment, we release the settlement funds to you.

Unfortunately, delays in this part of the process can extend how long a car accident settlement takes. For example, a bank can only process your check during business hours. Your check could arrive on a holiday or weekend.

The bank may hold the check until it is confirmed that the insurance company has the funds to cover it. That waiting period could last up to 7 days. The insurance company may issue checks only on certain days, which could cause a short delay.

We Work to Settle Your Claim as Swiftly as Possible

The Pendleton Law Team has successfully handled thousands of claims throughout Virginia. Our car accident attorneys will work to secure your car accident settlement as smoothly and quickly as possible, while still fighting for the amount you deserve. We can help you settle, but we do not want you to settle for less.

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