Posted on Monday, December 16th, 2019 at 10:17 pm
Each personal injury case is different. However, almost every person who meets with our attorneys asks this question. We understand that you want to settle your personal injury case as quickly as possible for several reasons. An accident can create a financial strain for your family. You may also want to settle your claim as soon as possible because you are tired of dealing with the consequences of the accident and simply get on with your life.
However, settling your personal injury case too quickly can hurt your chance of receiving full compensation for all damages and losses. It can also have a significant impact on your future, especially if you require ongoing medical treatments, personal care, or loss of income.
When Do You Know It is Time to Settle My Claim?
It will take time to settle your personal injury claim. There is not a set timeline for settling a personal injury claim because each claim is unique. The length of time it takes to settle your case depends on a variety of factors.
One of the most important factors that determine the timeline for a personal injury case is the severity of your injuries. You do not want to settle an injury claim until you have reached maximum medical improvement (MMI).
Your doctor determines when you reach MMI. MMI is the point at which you have recovered fully or further medical treatment will not produce any meaningful recovery. Sadly, MMI for some individuals may include permanent impairments or disabilities.
How Does MMI Impact My Claim?
Understanding your prognosis helps your attorney calculate the value of your personal injury claim. If you sustain a permanent disability or impairment, your claim is worth more because you will incur future damages.
Examples of future damages associated with a permanent impairment or disability can include, but is not limited to:
- The cost of ongoing medical care or treatments;
- Ongoing physical and occupational therapy;
- Counseling and therapy to help adjust to new limitations and restrictions;
- Loss of income, including being unable to work at all or a diminished earning capacity;
- Costs of personal care and assistance with household chores; and,
- Loss of enjoyment of life and diminished quality of life.
In many cases, we consult a variety of experts when calculating the value of a personal injury claim involving disabilities and permanent impairments. We might retain medical, economic, and financial experts to calculate an amount for future damages accurately.
Personal Injury Cases Involve Numerous Steps
Even if you did not sustain a permanent impairment, there are still several steps that we must take to settle your personal injury case. The amount of time required for each step varies depending on the case, so it can be difficult to estimate an exact date for the settlement of your claim.
Some steps involved in a personal injury case include:
- Investigating the cause of the accident and injury
- Identifying the parties liable for your claim
- Gathering evidence to prove fault
- Obtaining and reviewing medical records
- Preparing a settlement package for the insurance company
- Waiting to hear from the insurance company
- Negotiating with the insurance company
- If the insurance company and our legal team cannot reach a fair settlement, we can discuss other options, such as filing a personal injury lawsuit.