There is no way to predict how long it could take to negotiate an insurance settlement in your case or if it is even possible. Some cases go to a civil trial without ever reaching a settlement agreement. Once you negotiate an agreement, there are only a few more steps to close the case and receive the payout.
Shulman & Hill represents personal injury victims in New York and New Jersey, including all five boroughs of New York City. You can learn more about our services during a free case consultation with our team. Call us at 212.221.1000 today.
Understanding What Happens After You Reach a Settlement Agreement
Many assume you receive your payment immediately following a negotiated settlement agreement in a personal injury case. However, there are several more steps to complete before you can deposit your check. This process takes time. Often, several weeks go by. The steps include:
You Will Need to Sign a Release
An insurance company will not issue a check until they have a signed release from you. Part of the agreement is that you will release them—and their policyholder—from any further liability in the case in exchange for the money. Unless you sign this agreement, you will not get paid.
When we manage a personal injury case, we review this release with our client to ensure they understand the document and what it means.
The Insurer Will Process Your Payment
CPLR allows 21 days for most defendants to pay. Municipalities can get up to 90 days to pay.
Your Attorney Will Receive the Check
The insurance company generally sends the check to the law firm. This allows the lawyer to deposit the check into escrow, pay any liens as necessary, and take their own fees.
You Will Receive Your Payment
After handling the necessary steps, your attorney should transfer your money to you as soon as possible. This is generally done by cutting a check.
Should I Accept an Offer From the Insurance Company?
We recommend discussing your case with our team before agreeing to a settlement offer. We may have steps we can take to help you better understand the expenses and losses you suffered and determine if the offer is fair.
All too often, victims consider lowball offers because they seem like a lot of money at the time. However, they will not cover the costs of current and future medical care, lost income, and other damages.
What Damages Are Recoverable in a Personal Injury Case?
Most personal injury cases allow victims to pursue economic and non-economic damages. This is compensation for the expenses and losses endured because of the accident, including intangible losses. In general, recoverable damages may include:
- Past and future pain and suffering
- Past and future medical expenses for accident-related injuries
- Past and future lost income
Some state laws limit recovery of certain types of damages in traffic accidents to only those with serious injuries. Our lawyers know how to handle these cases and navigate these laws frequently for our clients.
How Do I Get a Fair Settlement in My Personal Injury Case?
Most successful personal injury cases end with a negotiated settlement. The victim and their attorney negotiate with the at-fault party’s insurer until they reach a fair value for the case. Some, however, need to go to trial, where a judge or jury determines the outcome.
When you work with Shulman & Hill, you have New York’s premier personal injury law firm on your side. Our attorneys fight for the best interests of every client, seeking compensation based on their unique expenses and losses. Over the years, our team has secured upwards of $250 million for our clients. You may be next.
We navigate the claims process and file lawsuits, often concurrently. If we do not negotiate a fair settlement for a client before their trial date arrives, we may present the case to the jury and ask them to award fair compensation.
Discuss Your Insurance Claim and Options With Our Team Today
Shulman & Hill provides free case reviews for personal injury victims in our service area. We may be able to help you pursue an insurance settlement or take your case to trial, fighting for fair compensation. Call our team today at 212.221.1000 now to learn more. We don’t recover any attorney’s fees unless we obtain compensation for you.