After you have successfully made a claim against an at-fault driver, the insurance company will pay you a settlement. The insurance company has the right to pay your injury claim as a one-time payment (lump sum). This payment includes compensation for things that will happen in the future (i.e. future pain and suffering, future expenses, future
This means that, in order to receive full compensation, you need to be able to predict how your injury will affect you in the future. This is called the prognosis, and it is provided by doctors and other professionals. You need to know your prognosis to ensure your insurance settlement covers your future expenses.
With most serious injuries, doctors won’t give you a final prognosis until 24 months after a serious injury. Once you have this final prognosis, you are in a position to sue for full compensation from an insurance company.
Most accident victims who make a claim will have to file a lawsuit to get fair compensation. Almost all lawsuits are settled without going to court, and most cases are resolved between 2 and 4 years after the accident.