After a serious auto accident, you may face extensive medical bills, lost wages from missing work, and other expenses. You may be responsible for paying these expenses until your case resolves. You may wonder when your check will come if you have gone through the claims process and reached a settlement with the at-fault driver and their insurance company. As Los Angeles car accident lawyers, we often get this question – “How long does it take to get an auto insurance claim check?” We answer this question below.
When Should I Receive My Car Insurance Claim Check?
We understand you are anxious to get your auto accident settlement and waiting can feel like forever. Unfortunately, there is no definitive timeline for receiving your settlement check.
In most cases, you can expect to receive it in a few weeks to a month after settlement. However, every accident case is different, and several factors can affect when you get your settlement money.
For example, the time it takes to get a check may depend on the claim resolution process, the type of payment you are receiving, and whether you need to resolve any liens.
Factors That Affect How Long It Takes to Get a Car Accident Settlement Check
Multiple factors can slow down or speed up the process of getting your settlement money. Examples of these factors include the following:
Claim Resolution Process
After the car insurance claims process, all parties must sign a settlement release form before the insurance adjuster sends a check. A settlement release form may cover multiple legal points about accident fault and liability. However, this release generally confirms that you waive your right to any further claims regarding the auto accident in return for the settlement amount.
This part of the process may delay your payment for a few reasons. The insurance company will not release a settlement check until you send a properly executed release form. Any errors on the form may delay payment. Additionally, if there are other claimants, you may need to wait until all parties have signed and sent the release back to the insurance provider, which could take some time.
However, under the state’s laws surrounding settlements, once the insurance company receives the release, it has 30 calendar days to tender payment or take action to perform its claim obligation. Even so, the insurance company will not send you the car insurance claim check. In contrast, the insurance company sends it to your attorney, where it is placed in a trust account until liens and other fees are paid off.
Lump Sum Payment or Structured Payments
When you settle a car accident claim, the other driver’s insurer may offer you a choice between a lump-sum payment or a structured payment plan. How you decide to receive your settlement check can affect when you get it.
A lump-sum payment is a one-time payment. Because it involves one payment, it is generally the fastest way to get your money. It is usually paid out within a few weeks of settling your claim. Structured payments, on the other hand, are a series of smaller payments that are distributed over time. These payments can be spread out over months or even years until the insurance company pays the total claim amount.
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Liens on Your Settlement
Your car insurance claim settlement must pay off any liens from third parties. A lien is a third party’s legal right to payment from your accident settlement for debts you owe.
In car accident cases, medical liens are the most common liens you may have on your settlement. A medical lien is a claim for repayment based on an agreement between you and medical providers or other parties, such as health insurance companies.
These parties aim to place a lien against your settlement to get reimbursed for their services or expenses. For example, if a healthcare provider performed medical treatment on you without payment, it may put a lien against your settlement. Additionally, if a health insurance company handled the upfront costs of your medical care, it may put a lien against your settlement.
Attorney’s Fees
Once your attorney pays off any outstanding liens on your settlement, your attorney may take any costs paid out-of-pocket and the contingency fee from your settlement amount. This fee is generally a percentage of your settlement and was agreed upon before your attorney started handling your case. After your settlement resolves liens and attorney’s fees and costs are paid, your law firm will send you your check for your net portion of the settlement.
Discuss Your Situation With Our Los Angeles Car Accident Attorneys
Have you or a loved one suffered serious injury after an accident in California? Consider discussing your situation and best legal options with our Los Angeles personal injury lawyers. We can answer your legal questions and determine whether filing a claim for damages is viable for you.
At Steers & Associates, we have a long history of success in helping accident victims recover financial compensation for their damages. In fact, if you looked over our case results, we have recovered millions of dollars in settlements and verdicts on behalf of our clients.
Schedule a free no-obligation consultation to discuss how we may be able to help you too. Call us at (800) 824-5416 or submit our online contact form, and we will contact you soon.
Allen Vaysberg practices personal injury law and works tirelessly to defeat the tactics of insurance companies and large corporations who try to deny justice and fair compensation to injured people.
