A Florida car accident can take its toll on your physical and mental health. This can be especially true when trying to understand your insurance claim settlement timeline in Florida. Knowing how long the insurance companies take to settle claims is crucial to getting your life back on track.
How Long An Insurance Company Takes To Settle Claims in Florida
Florida is a no-fault state, so you must first present a claim through your insurance if you’re involved in an accident. If your damages cross the threshold into serious territory, skilled car accident lawyers can help you file a lawsuit against the other driver. Understandably, many Florida car accident injury victims need to know how long an insurance company has to settle a claim in Florida.
It’s important to know that the answer to this question varies depending on whether the claim is a first-party Personal Injury Protection (PIP) claim or a third-party liability claim against a negligent driver.
Paying Out an Accident Settlement Claim for PIP Benefits
Before your insurance company pays out any benefits, you will need to seek medical treatment within the first two weeks of your accident. If you don’t seek treatment within 14 days of the accident, your PIP will have no obligation to pay out any benefits.
Once you’ve submitted a claim for PIP benefits, your insurance company has 30 days to pay or deny your claim. Typically, your insurance company has 30 days to pay out your coverage once they’ve received all of your claims.
If the insurance company denies your claim, they must explain. Once you receive the explanation, you’ll have an additional 15 days to revise and resubmit your claim. Qualified car accident lawyers can guide you through this process.
Florida’s PIP claims follow the “mailbox rule,” which states that the insurance company has 30 days to mail your PIP check. If you’re having trouble receiving your funds, professional car accident lawyers recommend speaking with Englander Peebles.
How Long Does an Insurance Claim Take?
If you are filing a claim against the negligent driver, there is no set insurance claim settlement timeline in Florida for resolution. Legal teams and insurance companies will have to investigate your claim. They are legally entitled to conduct a fair investigation before offering you compensation for your injuries.
The following factors can impact the timeline of your car accident insurance claim in Florida:
- The other driver’s insurance coverage
- The severity of your injuries and the time it takes you to reach maximum medical improvement (MMI)
- The time needed to investigate all aspects of your medical condition and report them
- Liability disputes, tracking down witnesses, and reconstructing your accident
- The amount of available coverage
How Long Does It Take to Get a Settlement in a Florida Car Accident?
Once you’ve agreed in writing to a settlement, the insurance company must send payment within 20 days unless both parties agree on a different date. Some insurance adjusters may state that payment is conditional on signing a release to all future claims.
Failure to pay within the agreed-upon timeline means the insurance company could have to pay you interest. Florida law allows you to collect 12% interest per year from the date of your settlement. Interest doesn’t start accruing until the executed release of claims is returned.
Speeding Up Your Car Accident Settlement Claim
Every injury claim is unique. There isn’t a surefire way to speed up your claim. However, hiring an experienced attorney could help you avoid the pitfalls of dealing with denials and delays. Attorneys can do the following to ensure that your settlement is moving expeditiously:
- File the necessary claim documents
- Obtain evidence
- Negotiate with the insurance company
- Secure witnesses
- Hire experts
Experienced legal advocates and adept car accident lawyers can streamline the Florida insurance settlement process.
Being prepared and proactive is essential. Have all your documentation and evidence ready to submit as soon as possible.
Factors That Affect Your Florida Settlement Claim Timeline
The following can affect your Florida car accident settlement claim timeline:
- Florida’s timeframes for insurance claims
- Types of claim being filed (bodily injury versus property damage)
- The extent of physical damage or injuries (severe accidents take longer)
- Communication between drivers, insurance companies, and adjusters
- Your understanding of policy and coverage
- Your ability to pay insurance deductible
You have the right to be paid efficiently by the insurance company under Florida law. If your insurer is acting unethically and delaying payment, professional car accident lawyers can file a “bad faith” lawsuit. This means you could be paid extra in interest and penalties.