In some cases, insurers will process compensation payment within a few days. However, in most cases, you will have to wait between two and four weeks to receive your compensation. But since the investigation is complete, you won't have to wait long to receive your next compensation offer. Often, insurance companies deliver an offer in response to a settlement demand between three days and three weeks.
The time difference will depend on the reasons behind your claims for compensation and whether it includes non-economic damages. To determine how long it will take to receive a compensation offer, the final offer and the settlement period will depend on a few factors. If you are handling it on your own, it will depend on your relationship with the insurance company. If you have a claims representative from an insurance company who can contact you right away, you may have a few weeks or months before your final adjustment check is sent to you.
Once the agreement is in place, it will take several weeks to receive your compensation. The settlement money will go to your lawyer, who will deduct your percentage from the compensation as described in your contingent fee agreement. You will also pay any liens imposed on the settlement by your creditors, such as health care providers, group health insurance providers, or government health insurance (such as Medicaid). If an accident claim is resolved without going to court, your lawyer will try to agree that you receive your compensation within 14 days, but it may take longer.
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