It can take 6 to 18 months on average to settle a commercial truck accident claim with Colony Specialty Insurance. However, some cases are much more complicated than others, and it can take up 2 years or longer to obtain compensation on behalf of those with severe, disabling injuries.
We know that victims and their loved ones are anxious to recover their finances and heal from their physical and emotional injuries. While there is no shortcut to the finish line, our truck accident lawyers are with you every step of the day. If you have any questions about filing an accident claim with Colony Specialty Insurance, contact our law firm to receive a free consultation.
Variables that Impact the Settlement Timeline
Each claim with Colony Specialty Insurance must be examined on a case by case basis, and there are many different issues that add to the length of time that’s required to settle the claim. However, there are common factors that play a significant role in truck accident injury claims as a whole.
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Supporting Evidence and Documentation
The amount and quality of evidence that’s available is the most important element to succeeding in a personal injury claim. Evidence that can build a strong and compelling case includes accident reports from the police, photos and video footage, medical records, and witness accounts. Sometimes, it can take months to obtain certain types of evidence, not counting the time it takes to review and determine its relevance to your case.
Your Physical Injuries
Being hit by a tractor trailer or some other commercial truck can result in catastrophic injuries, and this is a major factor in the how long it will take to get paid from an accident claim. Some of the time has to do with how long it takes the claimant to reach MMI, or maximum medical improvement. This is the stage where you can accurately determine the extent of the victim’s injuries, permanent health complications, and needed medical care on a long-term or lifetime basis. The victim may also need compensation for lifetime wages if they can no longer perform their job duties or work in any capacity.
Starting Negotiation Talks with the Insurance Company
Insurance companies promote the image of protecting the public and making things right when there is an accident. However, you will quickly find that once an insurance claim is filed, the sole motivation of any insurance provider is their own bottom line. This is why it can take months – perhaps over a year – to exchange offers and reach a number that’s acceptable to all the involved parties. While some cases are resolved in less than 4 months, the majority of negotiations for a truck accident settlement take 6 months or longer.
The Litigation Stage
If it turns out that the insurance company is unwilling to work towards an agreeable settlement, it may be time to file a lawsuit. Your attorney can talk to you in detail about the litigation stage and file the needed paperwork and documentation on your behalf. Once a lawsuit is filed, there is a possibility that your case will go to trial. But negotiations will continue, and in our experience, around 95% of all truck accident claims are settled before the trial date.
What Factors Influence the Case Settlement Timeline?
Each case has unique elements that impact the amount of time it will take to reach a settlement. But certain elements have an impact on truck accident cases in general, and these include:
- The defendant’s coverage limits according to their insurance policy
- Availability and strength of evidence to support your case
- If multiple parties are involved in the accident
- If all sides are willing to work towards a fair settlement
- If a trial is required
Is There a Way to Speed up the Settlement Process?
Yes, there are things you can do to help things move along in an efficient manner, though it’s important to note that certain variables in a legal case are beyond anyone’s control. The key is to build a strong case that meets all the legal requirements, while ensuring that there are no errors that can hold up the settlement process. With that in mind, hiring an experience truck accident attorney is one of the best ways to settle your claim with Colony Specialty Insurance as fast as possible.
Make Sure to File Your Claim on Time
We understand the physical pain, time constraints, and mental strain that an accident places on your life. However, it’s essential that you don’t lose track of how much time you have to file a truck accident injury claim. Under California law, you have 2 years starting from the accident date to file a lawsuit for negligence by another party. Thus, if you don’t file a claim right away, you could end up losing track of the deadline for a claim. Once you exceed the 2-year statute of limitations, it’s more than likely that you will lose the right to seek compensation, even if there is strong evidence to show that the other party is at fault.
Contact a California Truck Accident Lawyer
Normandie Law Firm is here for you, 24/7 if you were injured by a truck that’s insured by Colony Specialty Insurance. With a proven track record of recovered settlements for our valued clients, you can count on us to secure the compensation you deserve.
We represent all clients on contingency, so you do not pay anything upfront if you choose to hire us. All expenses related to your case are charged to the negligent party, and the recovery of your settlement is the only way we get paid. If we don’t bring about a successful resolution to your case, the Zero Fee Guarantee means you won’t be responsible for any legal fees.
It all begins with a free case evaluation, which you can schedule by contacting us today.
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