How Long Before I'm Paid After Settlement?
Reaching settlement in your personal injury claim can be a huge relief. Knowing that you will be compensated for your losses can take a weight off your shoulders. You may have been waiting a while for this moment. Personal injury claims can take years to resolve, and if you've been incurring medical expenses or missing work in the meantime, receiving your settlement funds probably can't come soon enough. Unfortunately, the insurance claims process isn't particularly expeditious. Even after you've accepted a settlement offer, you may have to wait several weeks before you see a check. Settling an insurance claim can involve multiple parties who have to complete certain steps in the claims closing process. This is especially true when dealing with large insurance companies. Every step the settlement process needs to go through can result in further delays. If you have an attorney representing you, he or she may be able to work with the adjuster to minimize delay in your payment. Insurance companies have 60 days to pay your claim once a settlement agreement has been reached. Because an insurance policy is a contract, they are held by law to act in good faith and fair dealings toward their claimant. This means they must pay legitimate claims and pay them within 60 days. It is important to keep in mind that some insurance companies will act in bad faith. Deliberately delaying the payment of a claim is an example of insurance bad faith. If your claim is not paid within 60 days, you can contact the insurance adjuster in writing to inquire about the delay. If this doesn't resolve the issue, you should speak with an attorney. If you believe the delay is in bad faith, an experienced Georgia personal injury attorney can help you resolve the issue. If the insurance company is acting in bad faith, you may have legal recourse. Insurance companies that act in bad faith can be subject to financial penalties that you might benefit from. However, bad faith claims can be complicated, so it is advised you speak with an attorney prior to taking any legal action. Claim payment delays can arise from any number of reasons, not all of which will point to the bad faith acts of the insurer. Sometimes a simple reminder call to the adjuster can speed up the process. When in doubt, speak with an attorney to make sure your rights in the settlement process are being preserved. Do you need assistance with your personal injury settlement? Thomas C. Rowsey, P.C. is experienced in personal injury matters and will work hard to get you the settlement you deserve. Based in Roswell, GA, Thomas C. Rowsey Attorneys at Law serves those across the greater Atlanta metropolitan area including Roswell, Alpharetta, Marietta, Milton, Cumming, Dunwoody, Johns Creek and Sandy Springs. Contact our office today at (770) 993-5317 or fill out our online form to schedule a free consultation. Offering expert legal counsel in personal injury, criminal defense and family law, Thomas C. Rowsey Attorneys at Law are here to help.