How long can an insurance company wait to settle a case?

Question

This is a personal injury case. The accident took place last year in July. I was hit from the rear at a stop light. My care was consider to be totaled out. I suffer injuries of the neck and lower back. I have completed the medical treatment at the beginning of this year. I have had the depositon in the earlier part of this year. The person that hit me her and I have the same insurance company.

Answer 1

I believe 1 year...????

Answer 2

It depends on the facts of the case as to when it would settle. We don't have any information about your case - so I can't give you a specific answer.

If you are talking about an injury claim - the settlement process does not even start until you are done with treatment. Then the insurance company has to order the medical records (that could take several months) then they evaluate the records and make an offer.

If it's a property damage claim - once the insurance company completes their investigation and determines their policyholder was negligent and it's a case for settlement - if they have seen the damaged property they will make an offer.

Insurance companies don't wait just for the sake of waiting. If your claim has not settled - there is a reason for it but you have not given us any information so I can't tell you anything specific to your situation.

EDIT: Thanks for the update.

You mentioned a deposition earlier this year. Are you represented by an attorney and did you file a law suit?

If yes - there is no guarantee the insurance company will settle. If they think they have a good case - they could chose to take it to trial.  

Many law suits go through mediation. This is where most of the law suits get settled. Some areas have court ordered mediation - so you have to go through it - but not all.  If your case has not gone through mediation - ask your attorney if it will. This could be a good option.

I have settled some claims right after the suit got filed, some in mediation, some on the court house steps the day of trial. And some - I've taken to a jury. Just depends on how strong a case I think I have.

Sorry - I can't be more helpful. But follow up with your attorney - he should be able to give you an update on the case.

Answer 3

YOu are not the only one,I have met this type of  problem before.I have good experience here to solve the problem though.http://insurance.online-frees.info/insur...

Answer 4

MSAD is correct.  I would just add that the insurance company can wait until trial or even after if they believe the case warrants it.,

Answer 5

Insurance companies follow the three D's of defense---Delay, Deny and Don't pay.

As soon as they get notified of an accident they put money away in reserve and collect interest on it. They longer they can hold the money in reserve, the more money they can collect in interest.

Answer 6

i think a year