The amount of time it takes to settle an Arkansas car accident claim can vary based on several factors, such as the severity of the injury, the number of parties involved, and insurance company policies. However, in Arkansas, insurance companies have 45 working days to complete their investigation of a claim, while in Tennessee, they only have 30 days. Once their investigation is complete, other various factors will determine how long your case takes to settle.
If you’ve suffered an injury in a car accident, you may be ready to collect your money NOW! Unfortunately, insurance companies know this and use it to their advantage. Some insurance companies purposefully delay settling claims, hoping you’ll become desperate and agree to far less than you deserve.
At Rainwater, Holt & Sexton, our car wreck lawyers know the quickest way to secure maximum compensation for our clients. Let us worry about your settlement and the complexities of filing your claim, while you focus on your recovery and rebuilding your life.
A settlement is a monetary agreement between you and the other driver’s insurance company after a car accident. They agree to pay you a certain amount to cover your damages and injuries. In return, you agree that this case is closed and waive your rights to seek future compensation. This means you cannot return later and ask for more money, even if you need additional surgeries or the cost to repair your vehicle is higher than expected.
According to the American Bar Association, over 90% of personal injury claims are settled before trial. This is because settlements give both parties more control over the case’s outcome. It also allows them to avoid the risks, costs, and delays associated with going to trial. In essence, settlements are a win for both parties.
You do not have to accept an Arkansas car collision settlement offer right away. You have the right to negotiate with the insurance company to get a higher amount. Since the first offer is almost always too low, you should never sign any settlement agreement before speaking with an experienced lawyer.
It is impossible to predict an Arkansas car accident settlement timeframe with precision. In general, you should expect the process to take two to three months, at a minimum. If the case is complicated because of any of the factors we discuss below, a more reasonable timeframe would be six months to a year. Some complex cases can take even longer.
The delays may be frustrating, but the outcome depends on our thoroughness. It is essential that we take whatever time is necessary to build a strong case and make an accurate assessment of your damages. Though an experienced car accident lawyer can give you a better idea of when your case might settle, these are some of the factors you should be aware of:
If your injuries are serious and require extensive medical treatment, it may take longer to determine the total cost of the medical bills and other expenses related to the injury. If you have permanent injuries, it can take months to assess the level of ongoing care you will require. We will also need to establish whether you will be able to support yourself in the future or whether you will be permanently disabled.
This can delay the settlement process until the extent of the injuries and the amount of damages are properly evaluated. Your legal team or insurer may also wish to wait until you’ve reached maximum medical improvement before settling your case. In cases of catastrophic or permanently disabling injuries, it may be close to a year before we can start substantive negotiations.
Many vehicle accident cases involve more than just you and one driver. There may be multiple drivers involved in the wreck, meaning multiple insurance companies at the table. Sometimes a business, manufacturer, or local government is potentially liable.
Identifying multiple potentially responsible parties can be good for you because it increases the available pool of insurance coverage. That makes it easier for you to get a fair settlement.
However, if there are multiple parties involved in the car accident, it can complicate the settlement process tremendously. With multiple parties, multiple insurance companies may point fingers in an effort to reduce their liabilities. Proving liability is also more complicated when more people are involved in a crash. The more parties involved, the more complex the case, leading to a longer settlement process.
If there are disputes over who is at fault or if the insurance company is disputing the claim’s validity, your case may require more time to resolve. Depending on the nature of the dispute, we may need to engage an accident reconstruction expert to provide evidence of how the crash occurred or medical experts to establish that your injuries resulted from the wreck. These efforts can extend the settlement timeline by several months or even longer.
If more evidence is available, your case will likely settle quicker. The insurance company will only accept liability for the crash with sufficient evidence. Before negotiating with insurers, your legal team must prove the other party is to blame.
For example, if there are no eyewitnesses and no police report, it may be your word versus theirs. In this case, your attorney must investigate the case more closely to prove who was at fault, which can delay your settlement further.
Many insurance companies have strict timelines and procedures that can delay the settlement process. In addition, if the insurance company is slow to respond or unresponsive, it can take even longer to process the claim.
It’s critical to understand that the insurance company will use every tactic available to limit the amount it pays you, and delay is a powerful tool. The companies realize that you may be experiencing financial hardship while you wait for the claim to settle. They will exploit the situation to persuade you to settle for less than you are owed.
A company may make an extremely low initial offer to bring your expectations down. Even if you refuse it and get a better offer, it will likely be far less than your claim is worth. Insurance companies may make excessive requests for more information and then take an unreasonable time to review that information, all in an effort to gain an advantage through delay.
Is your lawyer a good negotiator? If so, they may be able to get your claim settled quickly because they know how to build effective cases and hold their own with insurance companies. If you and your legal team cannot settle through negotiation, the case may need to go to court, which can further extend the settlement timeline.
Typically, the resolution of a car accident claim in Arkansas follows three stages: the pre-settlement process, negotiation, and post-settlement process. To expedite your case and ensure you receive maximum compensation, you’ll want to hire an experienced attorney.
The pre-settlement process technically begins immediately after your crash. If you are injured in an accident, your first priority should be to seek medical treatment. This improves your chances of recovery and provides valuable documentation of your injuries and the medical treatment you received. This will be important evidence in your settlement negotiations.
In addition to seeking medical treatment, your legal team will investigate the cause of the accident and gather evidence to support your claim. This may involve taking photographs of the scene, obtaining witness statements, and gathering police reports. If we need to hire experts to bolster the evidence and provide support for your claim, that usually occurs during the investigation phase. These things can help you proceed to the next phase of the settlement process: negotiations.
Once you have completed your medical treatment and gathered the necessary evidence, you can begin negotiating with the insurance company. During this part of the settlement process, your car accident lawyer will prepare a demand letter outlining the details of your accident and injuries as well as the compensation you’re seeking.
The insurance company will review your demand letter and make a settlement offer. This offer may be lower than your initial demand, so carefully consider whether the offer is fair before accepting it.
If the insurance company’s offer is unreasonable, you may ask your lawyer to make a counteroffer and negotiate with the insurance company until an agreement is reached.
Once a settlement agreement has been reached, the final steps of the settlement process include the release and distribution of funds.
You must sign a release form before the insurance company will pay you. This release form waives your right to pursue legal action in the future. If your injuries worsen or you need future surgeries, you cannot ask for more money. This is why you must take the time to evaluate the settlement offer before signing it.
Once you sign the release form, the insurance company will distribute the funds according to your settlement agreement’s terms. This includes payment to your attorney and any medical providers who filed a medical lien.
The settlement document explains the payment terms. Not just the total amount of the settlement, but also whether it will be paid out over time or all at once.
In cases of permanent or catastrophic injury, the insurance company often buys an annuity to provide you with periodic payments of a large settlement over time. The date the payments begin is subject to negotiation between the parties.
If you are being paid in a lump sum, the insurance company typically releases the money to your lawyer within one to six weeks. The money is usually deposited in the lawyer’s trust account, and nothing happens for a week or so until the deposit clears. Your attorney then deducts their fee and any liens against the settlement—these administrative tasks may take an additional week to three weeks to complete, depending on the number and type of liens.
In a simple case, you could have money in your hands within two to four weeks of signing settlement papers. For a larger auto accident settlement in Arkansas, a more realistic timeframe is four to ten weeks.
Being involved in a car accident can be a traumatic physical and emotional experience. You may find that medical bills begin piling up while you’re injured and unable to work. Creditors don’t seem to care that you’re injured, which can cause a tremendous strain on you and your family.
Fortunately, there are steps you can take to speed up the car accident settlement process in Arkansas.
Collecting evidence such as police reports, witness statements, and photos of the accident scene and vehicle damage can be crucial in building a strong case. The sooner this evidence is gathered, the better.
Seeking medical treatment promptly after the accident is essential. It will speed up your recovery process and provide your lawyers with valuable documentation and evidence to present to the insurance companies.
One of the best ways to speed up the settlement process is to hire an experienced car accident lawyer. Your attorney will navigate the legal process, negotiate with insurance companies, and fight for your rights. They can also help gather evidence, communicate with medical providers, and file necessary paperwork. Since they’re familiar with injury laws, they can ensure things are filed on time and reduce delays to your settlement.
It’s vital to respond quickly to any requests for information from the insurance company. Delaying or ignoring communication can slow down the settlement process.
Mediation or arbitration can be a quicker and less expensive path to settlement.
If you’ve been involved in a car accident, don’t let insurance company tactics overwhelm you. Our team of skilled attorneys is here to go toe-to-toe with insurance companies, help you navigate the legal process, and advocate for your rights. That way, you can focus on your physical and emotional recovery.
With offices throughout Arkansas — Little Rock, Springdale, Conway, Hot Springs, Bryant, Jacksonville, and Jonesboro– our personal injury lawyers are easily accessible when you need help.
Connect with us today to learn how long an Arkansas car accident claim takes to settle and schedule a free case evaluation.
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