How Long After a Demand Letter Does a Settlement Take?
Once you’ve sent a demand letter to the insurer of the party responsible for your accident, the wait for a formal response can feel like ages. After all, you need the compensation owed to you as soon as possible.
Typically, you can expect to receive a settlement within a few weeks or months, depending on the amount of compensation requested. However, because time is truly of the essence, having a better idea of your expected settlement date is certainly comforting.
Although there is no precise way to predict when you’ll receive your settlement, we will highlight some of the factors that could influence your wait below.
Factors That Can Influence Your Wait
A number of variables can play a role in how long it takes to receive your personal injury settlement, including the following:
- The amount of compensation requested
- The backlog of cases being considered
- The preparation, documentation, and clarity of your claim
- Whether you happen to hold liability in your accident
- How many employees work in the insurer’s claims department
- Broader factors, such as time of year, state of the economy, etc.
Your ability to follow proper procedure doesn’t just make insurers happy—it will likely speed up the resolution of your claim. A properly structured claim should clearly explain your account of the accident, including all the losses and injuries you’ve sustained, along with why you believe your injuries were the fault of the person in question.
Providing supporting documentation, such as police and medical reports, is always a wise move. All in all, you want to submit a claim that is able to stand on its own, without any additional explanation.
Connect with a Personal Injury Attorney
If you’ve been injured in NYC and need help sending a demand letter to an insurance company, you’ve come to the right place. For a free, no-obligation case consultation with a trusted personal injury attorney, reach out to us at Greenstein & Milbauer, LLP today. Dial 1-800-VICTIM2 (842-8462) or fill out the form below to get started.