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How Long Does It Take To Settle a Truck Accident Claim in Colorado

03/03/2021

There are very few things in life that are more disruptive and induce fear than being in a truck accident. How long does it take to settle a truck accident claim? The size of a truck makes it frightening for smaller vehicles to collide with it. Thus, it is always imperative for victims to seek compensation with a truck accident lawyer's help. In Colorado, there's no better firm to represent you than Firouzbakht Law Firm. But before we get to how we can assist you, let's talk about truck accident claims in Colorado. 

What Is a Truck Accident Claim?

A truck accident claim is synonymous with a claim made after an auto collision. It is the claim made to the insurance company for compensation. Insurance claims often cover damages sustained after an auto accident or for the representation or intervention on an insured behalf. The latter means that the insurance company will settle the claim on the insured's behalf from their policy if the person is the at-fault driver. It would cover any injury suffered, damages to the car, and other property losses the victim suffered. 

What Are The Factors That Affects the Truck Accident Claim Process in Colorado? 

In a settlement claim, several factors affect what the insurance company will say or do. We'll take them one after the other. 

Type of Claim

The time you will spend negotiating with an insurance company over your personal injury settlement depends on if your claim involves one or more of the following:

  • Roadside Assistance Claims: Reimbursement for this settlement usually takes a few weeks to resolve. 
  • Glass Claims: Auto glass repair costs usually take a few days to settle. 
  • Physical Damage Claims: This claim covers the damages to your truck. They usually take two to six weeks to finalize and depend on how soon a qualified mechanic or body shop assessed the damages. 
  • Medical Claims: This claim type is the longest to finalize. It depends on several factors like the severity of the injury, the time it would take the victim to recover, future medical bills. Most insurance companies wait until the victim recovers before arriving at settlements.
Delivery truck hit Mustang

Injuries Sustained 

The extent of a victim's injuries plays a significant role in personal injury settlements after a truck collision. If the victim only suffered a minor wound, the parties will arrive at a settlement in no time. But if the injuries are severe and extensive, it would take a longer period. This is why it is imperative to secure a personal injury attorney's services as soon as possible. 

Generally, as mentioned earlier, insurance companies like to wait until the victim recovers or reaches maximum medical improvement (MMI). If there will be future surgeries and therapy, your accident attorney must ask the doctor to estimate future medical treatment. Getting an accurate estimate is often the biggest setback in receiving your settlement check. 

The At-Fault Party

If there is no dispute regarding liability, then the personal injury claim can progress smoothly. But this is not often the case. There is always a discrepancy in parties' accounts of the events leading to the truck accident, affecting the claims process. The degree of negligence on both sides impacts the amount the at-fault party would pay as compensation. 

Colorado is a 50 percent modified comparative negligence state. It means that the insurance company and court will grant you compensation to the degree of your negligence. Thus, if a victim contributed 5 percent liability in a truck accident, they will be liable for 5 percent of the damages. However, if the person contributed 50 percent or more, they will not receive any settlement. 

The Damages Involved

There are three types of damages involved in a truck collision: property damage, economic damages, and non-economic damages. The type you're seeking determines how long your personal injury settlement takes. 

If the crash only involves property and economic damages, it takes a little time. But things get complicated when you try calculating non-economic damages. For instance, it would be hard to come with an amount to cover the pain and suffering a victim went through due to the accident. It would also be hard to put a number on the loss of consortium and loss of quality of life. 

How Long Does It Take To Settle a Truck Accident Claim in Colorado? 

Colorado accident attorneys know that the time frame for truck collision settlements depends on two groups: the insurance company and the court. Often, the former is the first point of call for the victim, and the latter is the final resort. We'll consider them one after the other. 

The Insurance Company

Typically, and in theory, the settlement paid by insurers happens within 30 days of submitting the claim. But in practice, it takes longer as insurance companies always look for loopholes to avoid paying accident victims the money they deserve.  To show that the victim does not deserve compensation or deserves only a small amount, they will involve an insurance adjuster.

Insurance adjusters carry out investigations to if determine the victim was at-fault or the extent of their liability. At the end of their inquiry, they'll submit their report to the insurance company. The report contains a recommendation to pay or reject the claim. 

The process could take months or up to a year. In the meantime, the victim would have to pay crash-related expenses out-of-pocket. This is why it is vital to involve an auto accident attorney from the start to the end of the claims process. It would help the insurance company take you seriously and hasten the process. 

The Court

If the insurance company and the victim fail to reach an agreement that pleases both parties, they will take the claim to court. If the case goes on to litigation, it could take three to four months to reach an agreement. However, if the issue becomes very contentious with both parties failing to shift ground, it could take up to a year. The court's decision is usually final, and the losing party can decide to appeal. 

How Long Do You Have To Start a Truck Accident Claim Process?

Most victims lose their settlements because they fail to commence the process on time. The best time to begin an auto accident claim is immediately after the occurrence. The state of Colorado Statute of Limitations gives victims three years to commence the settlement process. The date starts counting from the day the accident occurred. To ensure you don't miss the deadline, hire a lawyer with experience in truck collision cases. 

How Does Third-Party Involvement Affect Your Claim?

If you're filing a third-party claim after a truck accident in Colorado, the time for settlement will increase. This is because a third-party claim is handled by the at-fault driver's insurance company and requires proof of liability. It means that the other party's insurer will take time to investigate and determine if they caused the accident. 

There must be irrefutable proof that the person's negligence caused your injury. To do this, their insurance adjuster will go through the evidence. They will look at the police report, witness statements, and video footage of the crash scene if any.

The adjuster will look at your medical record to determine the extent of your injury and treatment cost. If there's a need, the adjuster may also call an expert witness. All this will take a considerable amount of time. Therefore, hire a truck accident lawyer to represent your interest. 

Delivery truck hit white car

Firouzbakht Law Firm Can Help You!

Our Colorado personal injury law firm has the experience you need to get your truck accident claim settled in time. Our team will not only ensure you get what you deserve but will get you punitive damages too. Since we're on a mission to be an injured person's ally, we are your best option to winning your claim. Call us today to schedule a free consultation. 

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