Whether you were seriously injured or suffered significant property damage, most car accident victims hope to receive payments as soon as possible. Investigations take time, though. But how much time do insurance companies have to offer a settlement in Illinois?
Car Accident Insurance Settlement Timeline
Each insurance company is different, but most companies require you to report accidents within 24 hours. It’s an important step to get the claims process started because everything takes time. Depending on the circumstances of your accident, you may also be asked to file a claim with the other driver’s insurance; this is typical when accidents occur that aren’t your fault. However, insurance will conduct their own investigation and determine fault on their own. Because Illinois utilizes modified comparative negligence, you can still pursue compensation if you were partially at fault; that is, as long as you were less than 50% at fault for the accident.
Next, the insurance company with which you’re filing a claim will ask for statements, evidence, and other supporting documents that prove your claim. For example, you may be asked to provide a copy of the police report, medical bills and diagnoses, or vehicle repair bills that can help insurance put a dollar amount on your damages.
Once you complete your claim, the state of Illinois allows insurance companies 15 days to offer a settlement. During that time, the company will analyze evidence to determine fault. They will look over your claim, calculate total damages, and reduce the amount by the percentage of fault you were assigned in the accident. For example, let’s say that your damages total $20,000. You were found to be 25% at fault; so, because of modified comparative negligence, your settlement offer will be reduced by 25% for a total settlement offer of $15,000.
If there is a delay for any reason, the company handling the claim is required to provide a written explanation detailing the reasons for the delay in property damage cases. This may not apply in personal injury cases, however, so you should consider talking to an attorney if timelines become a concern.
What to Do if You Don’t Accept an Insurance Settlement Offer
You are under no obligation to accept an insurance settlement offer that doesn’t cover your damages. In those cases, you may wish to hire an attorney to negotiate on your behalf. If that also fails, the next step is to take the case to court. Filing a lawsuit can be a complicated process, but your attorney can help you through every step. Your attorney will help you gather additional evidence that may support your case before filing a lawsuit against the at-fault driver. During the court case, your lawyer will represent you and offer support.
How to Increase Your Insurance Settlement Offer
Although there are no guarantees, hiring a skilled Chicago car accident attorney can increase your chances of receiving fair compensation after being injured in an accident. At the Saperstein Law Group, we bring years of experience and knowledge with a compassionate touch to each case we handle. Before accepting an insurance settlement offer, contact our law team to discuss your options during a free case evaluation.