- September 14, 2024
- Tucker Law
- Car Accident Lawsuits
Car accidents are stressful even in the best of circumstances. Typically, medical bills and car repair bills pile up while you are sidelined by your injuries. The insurance company that is supposed to compensate you for those bills doesn’t make things any easier. Car insurance claims processes are filled with red tape. It can often feel like the only thing your insurance agent knows how to do is delay the process. Thankfully, New York laws don’t allow this to go on endlessly. Insurance companies must obey the legal requirements in New York regarding settlement timelines. If you have been involved in an accident in New York, this is what you need to know about those requirements.
Factors Affecting Settlement Time
Several factors affect settlement time in a car accident claim. However, one of the most important factors is the laws of New York. These laws require insurance companies to act in good faith and not unduly delay the process. They also set specific time limits for the insurance company to act after you file a claim. The first time limit is set from the moment you inform the insurance company of your accident. Once it has been notified, the insurance company has 15 days to acknowledge your claim, start an investigation, and request any additional information. Once you reply with that additional information, it has 15 days to accept or deny your claim.
This effectively means the insurance company has, at most, 30 days to decide your claim. It can take more time if needed, but it must notify you in writing why it needs more time, and the decision to take more time must be made in good faith. Furthermore, the company must respond within 15 days to any meaningful communication you make with it.
Assuming everything goes smoothly, your insurance company should accept or deny your claim within 30 days of your telling it you were in an accident.
Typically, an insurance company will only take additional time if it needs more information. That is most common when you are seriously injured and still receiving medical treatment. The company can’t see into the future to know how much your medical care will cost. The only way it can accurately pay for all of your medical care is by waiting until it is complete and you can present the insurance company with every relevant bill.
Another possible source of delay is the time it takes to investigate. Investigations don’t take very long in most New York accident cases because of the way no-fault accident insurance works. However, in some complicated cases, like hit-and-run cases, your insurance company may need to do a more in-depth investigation.
Injured in a car accident in New York? Don’t let the insurance company control the timeline of your settlement. Contact Tucker Lawyers at (516) 399-2364 to schedule a free consultation and learn more about your rights.
How to Expedite Your Claim
The longer it takes to complete your claim, the more likely it is that the insurance company will benefit. All of the state guidelines set a maximum time for the insurance company to act. This means that it can stretch out the process for quite a while, especially if it isn’t acting in good faith. If you want to get compensation quickly, you need to take the following steps to expedite your claim.
Hire an Experienced Lawyer
Hiring an experienced legal team almost always speeds up the process. Your lawyer understands the insurance process and can help you get ahead of the various deadlines. They also know what type of information the insurance companies need and will help you preserve critical documents.
Preserve All Documentation
One of the main ways that the insurance company can delay the process is by continually asking for more information. Every time it asks for additional information, that effectively resets the clock. You can prevent that by preserving all important documents and making sure the insurance company gets them as soon as possible. If you know you have sent everything the insurance company needs, any more delays are bad faith acts.
No-Fault vs. Liability Claims
Because New York is a no-fault insurance state, you will be interacting with your insurance company and getting compensation from your personal injury protection policy. This policy maxes out at $50,000 for most people. While that may seem like a low maximum, it offers some advantages. Because your insurance company isn’t on the hook for much, the process is likely to go relatively quickly.
However, if you are injured seriously enough to pass that $50,000 threshold, you may also be eligible to sue the at-fault driver. Liability claims, unlike no-fault claims, are quite complicated. Even though you will file a lawsuit, the other insurance company will often settle before the case goes to court. Unfortunately, because of the added complications, liability claims will take a year or more to settle.
New York’s Statute of Limitations
There is one more effective limit to how long it will take to settle a car accident claim in New York. According to the New York statute of limitations, you have only three years from the date of your car accident to file a lawsuit. This limits the time to settle with an insurance company. If the statute of limitations has run out, you have no way to hold the insurance company responsible. At that point, typically the insurance company will cease negotiating and will deny your claim. If, however, you file a lawsuit within the time limit, negotiations will usually continue. Insurance companies would rather pay a settlement than let a jury decide how much they owe you.
Contact Tucker Lawyers After a New York Car Accident
Car insurance laws are supposed to protect consumers. Unfortunately, insurance companies know how to take advantage of them and delay the process.
Don’t get taken advantage of by an insurance company in New York. Contact Tucker Lawyers today at (516) 399-2364 to schedule a free consultation.
Managing Attorney John. J. Tucker, Esq.
John has personally handled thousands of clients who were victims of another’s negligence and fights relentlessly for their rights. John enjoys bringing closure to a client’s matter so that the injured party can move forward with their life. His background enables him to evaluate complex liability related claims and bring resolution to claims in a record time frame. [ Attorney Bio ]