Coronavirus Impact on Car Accident Claims
As many lose their jobs or are furloughed due to COVID-19, people are wondering if they should settle for less than the full value of an insurance claim to make ends meet. However, settling could mean less money overall. Car accidents can change your life even if it isn’t a major one. It can be a long process of filing an insurance claim, determining fault, and receiving compensation to heal and move on. A complex litigation attorney like those at The Michael Brady Lynch Firm will help ensure an easy process.
Insurances Want You to Settle For Less
Claim adjusters are working remotely at this time. Therefore, there shouldn’t be any abnormal delays. Many have settlement agreements sent by email. Plus, settlements could be sent through direct deposit. However, insurance companies are using people’s hardships to offer small settlements.
However, you don’t have to settle. Just be aware of the statute of limitations in your state. Many have a two-year rule that a claim needs to settle within two years of your accident. If it isn’t, then you cannot recover any compensation. However, many are wondering how it is possible to file a suit if the courthouse is closed due to coronavirus shutdown. Many courts are allowing video conferencing to ensure justice continues. Plus, many courts have suspended the statute of limitations and other deadlines.
Pre-Settlement Lawsuit Loan Issues
Many during this difficult time are tempted to obtain a loan against an injury claim. However, this could be risky. There is no guarantee that a settlement or court outcome will be beneficial for you. Then, you will need to repay the money regardless if you win or not. Plus, the interest and fees with lawsuit loans are high. Sometimes you are paying back double the amount borrowed. A loan like this should be a last resort.
It can be shocking after an accident to learn how expensive, time-consuming, and frustrating the process can be. For many, pain does not present itself at the scene of the accident, however, the debilitating pain begins a day or two later. This can be difficult for many Americans who do not have health insurance or disability insurance. Therefore, it can be difficult to receive medical attention or income while out of work.
At The Michael Brady Lynch Firm, our dedicated staff is skilled in complex litigations like vehicle accidents. Our consultations are free and without obligation. Let our two decades of experience get justice for you.