New York uses the no-fault auto insurance policy, which is best for its citizens. This is because it speeds up the claims-settlement process when there aren't any catastrophic injuries.
The amount of time it takes to resolve a claim may considerably rise if there are specific exemptions that let the injured party replace the no-fault system.
Here are some details about how vehicle accident claims are handled in New York and how long the settlement process can take.
The No-Fault Policy in the State of New York
Regardless of who was at fault for the accident, a victim can submit a claim for injuries and property damage after an automobile accident in New York to their insurer.
To put it another way, each driver in a car accident in New York deals with their own insurance company if the damages are below $50,000.
How Long Does a No-Fault Settlement Take?
Since the insurer does not have to establish liability, they can promptly settle or reject the claim.
New York establishes a strict deadline for insurers to resolve such claims:
They can ask for any extra information to properly investigate a claim 15 days after it has been filed.
Insurers have 15 days after receiving a response for extra information to accept or reject a claim.
In a perfect world, victims should hear from the insurer about their decision within 30 days after a claim is filed.
What If a Claim Is Denied or Requires Further Investigation?
Insurers are granted a 90-day extension if they believe they need more time. They are allowed to prolong a deadline or reject a claim for several reasons, such as:
Injuries not related to the accident in question, or from not wearing a seat belt
Medical treatment for injuries was not well-documented
The driver at the time of the accident was not covered by the insurance policy
Policy doesn't cover the car involved in the accident
A personal injury attorney can encourage insurers to reach a quicker settlement. Furthermore, Long Island vehicle accident lawyers can offer the proof required to resolve the insurance company's worries, end their inquiry, or overturn their refusal.
Exiting the No-Fault System
According to New York law, an accident victim can leave the no-fault system and make a claim against the party at fault if a victim's financial loss exceeds $50,000. This is often the case when medical expenses surpass this amount.
Liability insurance is a requirement for all New York drivers. It provides coverage for losses resulting from physical harm sustained in an accident that was the policyholder's fault.
Time Frames for Settling At-Fault Claims
The deadlines for insurers to resolve an at-fault claim are the same as those for a no-fault claim.
An insurer must determine who was responsible for the accident in this circumstance. Insurance could need more time to look into the claim.
They have to submit a settlement offer if police records and witness accounts prove that their client was the one responsible. This must be done before time runs out.
Litigating a Valid Claim
A complainant can sue the at-fault driver if their insurer rejects the claim or doesn't make a reasonable settlement offer. The motorist's insurance company will have to defend the driver in court and be responsible for paying any damages that exceed policy limitations.
Moreover, the amount of time it takes to resolve a matter depends on whether or not a victim needs to file a lawsuit.
A settlement might occur rapidly if the insurer considers that their client is the party at fault.
Insurance companies dislike keeping a lawsuit going that they will never win. However, even in contentious cases, a resolution will probably be reached. Only 3% of personal injury lawsuits ever make it to trial.
How to Reduce the Time It Takes to Reach a Settlement
There are several strategies to speed up the process of settling a case, including:
Victims should fully describe their claim to prevent delays caused by an insurer's requests for further information.
The individual should have realistic expectations for the compensation they seek through settlement.
Engaging a car accident attorney for representation can help settle things quickly.
Taking proactive action to anticipate the insurer's movements can help the complainant stay one step ahead.
Contact an Experienced Car Accident Attorney in New York
Get in touch with The Law Office of Carl Maltese for legal assistance after being hurt in an accident in New York.
Call us at (631) 857-3703 to schedule a free consultation.