How long does it take to receive compensation after an MVA claim is settled?
A: The length of time it takes to receive compensation after a motor vehicle accident (MVA) claim is settled can vary significantly depending on several factors. In Alberta, Canada, the legal process for resolving MVA claims involves negotiating with insurance companies, gathering evidence, and potentially going to court if a settlement cannot be reached. The team at Kantor LLP Personal Injury Lawyers can help guide you through this process and work to secure fair compensation in a timely manner.
Here are some factors that can influence the time it takes to receive compensation after an MVA claim is settled:
Complexity of the case: The complexity of an MVA claim can impact the time it takes to resolve the case and receive compensation. More complicated cases, such as those involving multiple parties, severe injuries, or disputes over fault and liability, may require more time for investigation, negotiation, and litigation.
Medical treatment and recovery: It's important to have a clear understanding of the extent of your injuries and your prognosis before settling your MVA claim. This may require waiting for your medical treatment to be completed or reaching a point in your recovery where your future medical needs can be accurately assessed. Settling a claim too early might result in receiving insufficient compensation to cover long-term medical costs and other expenses related to your injuries.
Insurance company negotiations: Insurance companies often work to minimize the amount they have to pay out in MVA claims. Negotiating with insurance adjusters can be a lengthy process, as they may dispute the severity of your injuries, the necessity of certain treatments, or the amount of compensation you are entitled to receive. Working with experienced personal injury lawyers like Kantor LLP can help expedite this process by effectively advocating for your rights and presenting a strong case on your behalf.
Litigation: If negotiations with the insurance company do not result in a fair settlement, it may be necessary to take your case to court. The litigation process can be lengthy, involving discovery, pre-trial motions, and potentially a trial. However, many cases are settled before reaching trial once the parties involved recognize the strength of the opposing case.
Payment processing: Once a settlement has been reached or a court judgment has been issued in your favor, there may still be some time before you receive your compensation. The insurance company typically has a certain period, often 30 days, to issue the payment. In some cases, there may be additional administrative steps, such as obtaining court approval for the settlement if the injured party is a minor or if the claim involves a structured settlement.
In summary, the time it takes to receive compensation after an MVA claim is settled can range from several months to a few years, depending on the factors mentioned above. Kantor LLP Personal Injury Lawyers can help you navigate this process and work diligently to secure the compensation you deserve as quickly as possible. It's important to be patient and to focus on your recovery while your legal team handles the complexities of your MVA claim.