If you’ve been injured in a car or truck accident in Louisiana that was caused by negligence, state law gives you the right to seek compensation for the losses/damages caused by your injuries. You can do so by filing a personal injury claim with the at-fault party’s insurance company.
Motor vehicle accidents often result in serious, even catastrophic injuries, such as spinal cord damage, brain damage, and amputations. Losses/damages stemming from truck accident injuries can include current and anticipated medical expenses, lost wages and employment, pain, suffering, mental anguish, and more. Depending on the type and extent of your injuries your damages could range from a few thousand to millions of dollars.
It’s impossible to know from the outset how long it will take to settle your case. Each case is unique. How long it will take for the insurance company to settle your claim depends on several factors.
30 Days To Pay A Settlement But A Reasonable Amount Of Time To Investigate A Claim
In Louisiana, once an insurance company has accepted, or settled, a claim, they are required by state law to provide a final payment to the claimant within 30 days of the settlement. What it doesn’t provide is a specific timeframe for an insurance company to accept a claim. The law only states that an insurance company must accept or deny a claim within a “reasonable amount of time.”
A reasonable amount of time is defined as the amount of time that is fairly required to fully investigate a claim. For a simple claim, this may only take a few days. However, more complex claims, such as those involving catastrophic injuries caused by a big truck accident, could take weeks or even months to fully investigate.
Factors That Affect How Long It May Take To Investigate Your Claim
Here are a few of the factors that can affect the amount of time it may take to reasonably investigate your claim:
- The type of accident you were involved in
- The complexity of the accident
- The severity of your injuries
- Determining fault
- Availability of evidence, eyewitnesses, and expert witnesses
- Number of at-fault parties
- Conflicting evidence or testimony
- Communication lags between you, your lawyer, and the insurance company
- Disputes over coverage
- The extent of your losses/damages
Bad Faith Tactics To Delay A Settlement
While there is no specific guideline on exactly how long an insurance company has to settle a claim, there are laws in place to protect against unreasonable delays. An insurance policy is a contract between two parties, the insurer and the insured. Both parties are required by law to uphold their responsibilities under the terms of the insurance policy contract. This includes investigating a valid personal injury claim and either accepting or denying the claim within a reasonable amount of time. When the insurance company fails to hold up their end of the bargain, they’re said to be acting in bad faith.
Examples of bad faith on the part of an insurance company include:
- Failing to promptly and properly investigate a claim
- Unreasonably delaying a decision on a claim
- Failing to pay a claim within 30 days of acceptance
- Undervaluing claims
- Disputing coverage of damages
- Knowingly misrepresenting an insurance policy to a claimant
If you believe an insurance company is acting in bad faith when it comes to resolving your Louisiana accident claim, it’s important to reach out to an experienced personal injury attorney without delay. They can put pressure on the insurance company to settle your case.
The Sooner Our Louisiana Personal Injury Attorneys Gets Started On Your Case, The Sooner You’ll Receive Your Compensation
Who you choose to represent your personal injury claim after a catastrophic accident in Louisiana will have a big impact on how much compensation you receive for your injuries as well as how fast you receive it.
For over 40 years, the law firm of Lambert Zainey Smith & Soso has been protecting the rights of Louisiana residents injured in all types of catastrophic accidents. Our attorneys fight to get the full compensation you deserve for the damages caused by your injuries. We’ve recovered over a billion dollars in settlements for our clients.
Don’t delay seeking legal representation after your accident. Louisiana has strict statutes of limitation law — if you wait too long to file a claim, the courts may refuse to hear your case. The sooner we get to work on your case, the sooner you’ll receive your compensation. Contact Lambert Zainey Smith & Soso through our website, or call us at (800) 521-1750 to schedule a free initial consultation with an experienced New Orleans personal injury attorney.