Pentalk

How long does it take to receive an offer of compensation

In the case of personal injury law, the offer of compensation takes different amounts of time to be received. All claims vary in nature, so the exact number of days required to obtain the compensation offer cannot be specified. This is because some incidents are significant, while others may be minor. However, it is estimated that once the party accepts the settlement offer, the part can expect the money to be transferred within two weeks. This number can even go all the up till four or five weeks, again depending on the nature of the claim.

Given the time frame of only 20-30 days, it is also necessary to note that the party might not have necessarily completed all the essential medical treatment required, and this way, it might still be missing some important work. During this time frame, insurance companies would most times keep offers even when the plaintiff is not ready for settlement. This is because these insurance companies hope that to get the offer and receive the money quickly, they keep the offer too low. This is a delaying tactic used to get the most out of the situation. They want the person to accept the money out of necessity.

In case the first offer of compensation is rejected, more additional proposals are received. This is where the legal complications come into play, and lawyers like personal injury lawyer in Fort Lee are hired to determine if the offers received are fair or not.

For the time of the offer of compensation to be confirmed, several factors come into play. Since every injury case is different, circumstances are different and, therefore, the time to receive the offer of compensation. Some of the factors that affect how long it takes to receive the proposal include:

Type of Accidents

Car accidents, bike accidents, as well as medical malpractices, are all handled in different circumstances. For example, the offer of compensation for a car accident case will most likely be received much sooner than a medical malpractice incident.

Factors that caused the accident

If the parties involved in the injury case are guilty, the investigations take longer than usual. Therefore, the offer of compensation takes more time than usual as well.

The extent of seriousness

If the case is extreme and has led to severe injuries, the time to receive the compensation offer will take a much longer time since the case needs to be investigated more seriously and broadly.

Conclusion

The personal injury cases take some time to settle. Usually, to receive an offer of compensation, it takes around two to three weeks. This time may vary if some of the factors are not kept in mind.