There are two main reasons an insurance company will make you wait for the settlement they are expected to pay. The biggest reason — and the one they will readily tell you — is that they want to fully investigate the accident, determine the value of the claim according to their actuarial formulas, and ensure that due diligence is followed.
The other big reason — the one they won’t tell you — is that making you wait for a payout makes you more eager to accept anything they offer. This allows them to offer an initial settlement that is typically lower than the total damages of your accident. No matter how long it takes to receive your compensation, ensure that you are aware of the total costs of damages associated with your accident. Do not accept a settlement that forces you to pay out of your own pocket for a large percentage of damages. You can estimate your damages and demand a reasonable settlement offer compensating you for those damages with the help of a Florida car accident lawyer.