by winburnlawWhen Will A Case Settle?
Cases can settle at any time. Most cases are settled – but sometimes later rather than sooner. It is in the insurance companies’ interest, especially in large cases, to withhold payment for as long as possible. For example, if an insurance company owes $1,000,000.00 to someone and can pay them three years later it does not cost them $1,000,000.00 to pay them in three years because of the savings by investing that money over the course of time. If the insurance company has made 10% interest on your money, in 3 years they are really paying you $700,000.00. If this scenario is repeated multiple times involving huge amounts of money, then the insurance company has made a good business decision for themselves.
That is why it is important to not let the insurance company drag out the resolution of a case. Of course, certain information has to be known before a case can be evaluated and sometimes does take time. And not all cases are worth $1,000.000.00.
A person usually should be at a medical end result so that a proper evaluation can be made. A medical end result is generally determined by a doctor. However, sometimes cases can be evaluated before the medical end result if the injuries are bad enough. If a person’s injuries are obviously going to be long-standing and the medical bills are large and/or the insurance policy limits small this determination can be predicted causing an earlier settlement.
We handle cases all over the State of Vermont – in Bennington, Burlington, Brattleboro, Rutland, Woodstock, St. Albans, Montpelier, Manchester, Springfield, the Northeast Kingdom and anywhere else where there is jurisdiction in the State of Vermont. If you have a personal injury problem feel free to contact us.