A personal injury case can take months or drag out for years. There’s no timeframe for settling a case. It can go to trial, or an agreement can be reached at any time. Discovery, or the sharing of information between each party, can take up to a year. It’s not out of the question that you could settle a claim for a personal injury at the insurance discovery stage.
The majority of personal injury cases are settled during discovery. When a lawsuit is filed, the discovery process can begin. All the information, documents, and records of an accident and personal injury are reviewed, shared, and become the subject of negotiations. There’s no rule on when an injured party can accept an offer.
Settling a Claim with an Insurance Company
Most personal injury claim settlements happen through either or both parties insurance companies. Substantial offers aren’t usually made until both review the evidence against them. Information about the plaintiff and defendant, the circumstances of the accident, and the nature of the injuries and medical treatment are reviewed.
However, policy limits, types of insurance coverage, and the full range of benefits must also be reviewed and analyzed. A patient may forget about the full benefits of their policy. There may be hidden coverages and opportunities for reimbursement that can provide additional financial relief.
Gathering All the Details
The discovery process, as complex as it may seem, can be broken down into a couple of basic steps:
- Interrogatories: Written questions require written responses from the other party; these include Requests for Documents, or documentation relevant to an accident or the plaintiff’s personal injury. A Request for Admission asks for an admission that certain facts are true. Therefore, these facts don’t need to be proven at trial.
- Depositions: During a deposition, each party meets in person and asks the other party or a witness about the case. Questions and answers are recorded. A deposition is an opportunity for either party to build their case and is often a productive part of the discovery process. The defense attorney may also request the injured party be examined by a doctor to better assess their injuries.
How To Settle a Personal Injury Claim During Insurance Discovery
It helps to have a skilled personal injury attorney. They will investigate the cause of your accident and develop a legal strategy. Gathering legal evidence helps them find a strategy that convinces the other party to offer a fair settlement. Handling communications with the defendant’s insurance company and other parties, your attorney will manage all settlement negotiations on your behalf.
When negotiating with an insurance company, a lawyer will consider the costs of:
- Immediate medical care
- Ongoing healthcare needs
- Therapy and rehabilitation
- Time missed from work
- Loss of future earnings
- Repairing/replacing damaged property
- Mental anguish
- Pain and suffering
Receiving Your Payment
If an agreement is reached during personal injury insurance discovery, a settlement release form is signed. It says you agree to the amount being paid and will not pursue further monetary compensation from the liable party or their insurer.
The insurance company will then mail your lawyer a check. Once your lawyer receives it, they’ll deposit the proceeds into a trust account and help you pay medical bills and other liens. You will receive the compensation after all liens, attorney’s fees, and litigation costs are paid in full. The lawyer will then mail you a settlement check for the remaining amount, whether as a lump sum or a structured settlement with periodic payments.
Fund Capital America Helps with Personal Injury Insurance Discovery
At Fund Capital America, we provide insurance discovery services to help law firms locate and analyze existing policies. We can discover unknown coverage, relieve financial stress, and help law firms reduce their work burden and increase productivity. Our discovery services also help medical providers increase revenue. To learn more or get started, fill out our online form or call (855) 870-2274.
