Does the Other Driver’s Insurance Company Need To Disclose Their Policy Limits to Me?

After a car accident, many people want to settle their case as quickly as possible to put the process behind them and move on. The most effective way to resolve these cases efficiently is to collaborate with an attorney who specializes in this area, ensuring that the compensation value remains high. It is also important to understand that some factors delaying settlement proceedings are in the victim’s favor, and a faster resolution may not be a good thing. 

Why the Fastest Insurance Settlement May Not Be Ideal

While many are eager to close an accident case as soon as possible to avoid the headaches of a drawn-out process, it is crucial to be strategic about personal injury settlements to avoid lowball offers and secure fair compensation. 

No lawyer can determine the value of a personal injury case immediately. The exploration and review process uncovers evidence over weeks or months, and while this can be frustrating, it often leads to higher compensation. For instance, if medical records can prove that one’s injuries are permanent or cause long-term disability, the damages will be higher. 

Accident victims should remember that serious injury cases require a doctor to determine whether the patient is as recovered as they will ever be before settling on the final settlement amount. This is known as reaching the point of maximum medical improvement (MMI), and it can take months before it becomes clear whether MMI will cause the victim to lose their job, experience ongoing pain and suffering, or be permanently disabled. 

It is in the victim’s best interest to wait to settle if they can afford it because cases tend to increase in value once the nature of the injury becomes clearer. 

How Attorneys Fight To Settle Cases Quickly and Fairly 

To streamline the settlement process, an attorney will help individuals injured in a car crash file claims with their insurance company, submit demand letters to request information about the other driver’s policy, and negotiate settlement amounts. 

In Florida, no-fault insurance rules mean those injured in an accident must file claims with their insurance provider. However, at-fault rules apply for property damage during an accident. This means an attorney may assist with proving fault by compiling and presenting evidence as part of the support for a demand letter or lawsuit. 

Working with an attorney will make the settlement process faster, as insurers tend to respond more quickly to victims backed by legal representation. 

Potential Reasons for Delay 

Sometimes, even with an attorney, reaching a settlement can take a while. Factors that can delay settlements include: 

• Insurance disputes: Insurers may argue about the necessity of given treatments and dispute their liability in treatment coverage. 
• Complex accidents: Accidents involving more than two vehicles can take longer to assess. Often, this is due to liability disputes about vehicle damage. 
• Insurance delays: When insurance companies face a wave of claims, they may not have the bandwidth to deal with a victim’s case as quickly as usual. 
• Severe injuries: As waiting to reach the MMI can take time, severe injuries often significantly delay the settlement process. 

Trust Fenstersheib Law Group, P.A.

Fenstersheib Law Group, P.A., can advocate for those injured in a car accident in Florida. While waiting for a settlement can be difficult, our experienced attorneys will ensure you strike the best balance between fair compensation and timely resolution. Trust our knowledgeable team to provide reliable legal advice and representation that reduces some of the stress of personal injury recovery. 

Call 800-TellRobert (800-835-5762) or 954-456-2488 to learn more about your options after an accident before rushing into the fastest insurance settlement.

FREQUENTLY ASKED QUESTIONS (FAQ):

Q: What is Maximum Medical Improvement (MMI) in a car accident case?

A: MMI is when a doctor determines you’ve recovered as much as possible. Settling before MMI may result in lower compensation for long-term injuries.

Q: Does hiring an attorney speed up the insurance settlement process in Florida?

A: Yes, insurers often respond faster to those with legal representation, streamlining negotiations and claim processing.

Q: Why might a car accident settlement take a long time in Florida?

A: Delays can occur due to insurance disputes, complex multi-vehicle accidents, insurance company delays, or severe injuries requiring MMI determination.