As unpaid medical bills, lost wages, physical pain, and emotional distress take their toll, every injured victim may wonder: How long does negotiation take? Settlement timelines are different for each personal injury claim, so there’s no one-size-fits-all answer to this question.
However, having a better understanding of the settlement negotiation process can make the wait a little less overwhelming. So, today, we’ll discuss the main elements of the process and have a glimpse at an approximate personal injury settlement timeline.
Don’t forget that an experienced personal injury attorney can always take the negotiation process with an insurance company off your shoulders. Our team has handled numerous insurance companies and is ready to work on your personal injury case!
- How Do Settlement Negotiations Work?
- Settlement Negotiating Process Step-by-Step
- Main Factors That Impact the Negotiation Timeline
- How to Speed Up the Negotiation Process
- What to Do If Parties Cannot Agree?
- Get a Free Case Evaluation
- How Can a Professional Lawyer Help with the Negotiation Process?
- Get Help From Our Experienced Lawyers Today!
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How Do Settlement Negotiations Work?
If you’ve sustained severe injuries or property damage in a car crash or any other accident due to someone else’s negligence, you deserve a fair settlement that covers your financial and non-financial losses. The settlement process starts with a personal injury claim filed with the insurance company.
To initiate negotiations, an injured party must present as much evidence of the suffered damage as possible. The insurance adjuster will review the case and propose a counteroffer. You can exchange your requests back and forth until you reach a mutual agreement. Insurers will typically try to convince you to accept a low offer, so working with experienced personal injury lawyers can help maximize your settlement.
Settlement Negotiating Process Step-by-Step
Most personal injury claims don’t go to court — usually, the parties involved want to save time and court costs. However, that does not mean that you can settle in a matter of days. The insurance companies may try to appeal to your immediate need for financial compensation and suggest a lowball offer quickly, but taking some time for consultations and negotiations is necessary to achieve a fair settlement.
A dedicated personal injury lawyer can protect you from quick solutions and fight for maximum reimbursement of your claim. However, such an injury settlement is a lengthy process that often consists of a few major stages.
1. Demand Letter
The first step in the settlement negotiation timeline is a demand letter. The demand letter is a notification sent to the insurance company or the responsible party, making them aware of your injuries, medical treatment, lost income, property damage, and other related costs and expenses the accident has triggered. This is the initial outline of the compensation you are willing to receive.
The letter is the core of your accident claim, so it must be as detailed as possible. On top of all the expenses, an experienced lawyer will provide a detailed description of the incident along with the critical evidence that proves the responsible party’s liability. Demand letters must remain clear and present all the important facts and figures.
Most letters contain a well-calculated settlement amount sought along with a precise response deadline. Experienced attorneys may take it a step further and briefly mention the client’s willingness to file a personal injury lawsuit to prevent insurance companies from thoughtless claim rejection.
2. Settlement Claim Investigation
The chances that insurance adjusters will immediately take the victim’s side are slim. After your demand letter is received and evaluated, the investigation process begins. To further support your personal injury claim, you have to present undeniable proof of sustained damages.
You can use the following pieces of evidence to solidify the case:
Keep in mind even the tiniest detail can either make or break the case, so it is best to entrust a professional law firm with your claim. For example, Michael Kelly Injury Lawyers are experienced investigators who can collect crucial evidence and expert opinions for a successful claim.
3. Settlement Check Negotiation
Usually, insurance companies take their time to review and investigate the claim. When they finally make their settlement offer for the injured victim, it can be significantly lower than you’ve anticipated. You shouldn’t rush to accept it.
With a trusted legal team on your side, you can compare the sustained damage calculations to the counteroffer. If the presented settlement check does not cover the scope of your past and future expenses induced by the accident, you can deny it.
In the majority of personal injury cases, there are a couple of communication rounds between the injured party and the insurance company. An experienced lawyer knows the ins and outs of the insurance policy, not to mention negotiation practices that result in acceptable final terms. All our negotiated settlements are the result of skillful defense policy and the effective persuasion of our legal representatives.
4. Mediation Process
There are instances of long settlement negotiations when neither party is willing to budge. In cases like this, a third party can step into the process. They are referred to as a mediator. Some people mistakenly assume that mediators have the right to make a favorable decision on behalf of either of the involved parties.
Instead, mediators listen to both parties and based on the information they are given, they can present alternative settlement solutions. The role of these process participants can’t and shouldn’t be underestimated, but there are instances when insurance companies use mediators to intimidate victims into agreeing to their terms.
5. Final Agreement
After all the settlement talks are over and both parties agree to the suggested compensation amount, the final settlement agreement is signed. You should let your personal injury lawyer read through the document to make sure that everything is correct and nothing is missing.
On top of the reimbursement amount, payment deadlines, and other injury-related documentation, most settlement agreements contain other critical points that are imperative to assess. For instance, to protect themselves from future/additional legal claims, the insurance company may include liability release clauses.
There may also be confidentiality references, such as non-disclosure requirements and/or public discussion limits. It is essential to check those carefully to prevent a counterclaim.
When you’ve signed the settlement, you can expect the insurance company to present the settlement check. However, you can access only the remaining settlement funds after all legal fees, medical costs, and other case-related expenses have been paid in full.
Main Factors That Impact the Negotiation Timeline
Some settlement negotiations take a few weeks, while others may last months. Why is that? There are a few major factors that can impact the duration of your settlement:
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Complexity
If there are multiple defendants, severe injuries, undetermined liable parties, and damage disputes, it will take longer to negotiate. Investigations and evidence gathering can also take longer.
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Damage scale
Minor injuries and damage claims will be settled faster than serious traumas that need to be well-assessed and adequately calculated.
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Settlement delays
Insurance claims adjusters may pressure injury victims into accepting lowball offers. If you don’t want to accept an unfair settlement, the negotiations will continue until you arrive at a reasonable conclusion.
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Legal expertise
Inexperienced attorneys may have insufficient resources, experience, and reputation to help your injury case move at a desirable pace.
Working with an experienced legal team, such as Michael Kelly Injury Lawyers, can speed up the personal injury settlement. Our attorneys are skilled negotiators who will counter any unfair tactics to ensure the best resolution for you.
How to Speed Up the Negotiation Process
One of the most apparent ways of expediting settlement negotiations is to work with a professional legal representative. However, there are a few other things you can do to speed up the process.
Learn Your Rights
You don’t have to get into the depths of the legal system. However, it helps to familiarize yourself with the legal background of your claim, assess your injuries, consider their impact on your life in the future, and grasp the definition of at-fault party liability.
Gather Evidence
No single piece of evidence is unimportant in a personal injury claim. You should try to access everything you can, from police reports and individual medical records to eyewitness statements.
Know Your Worth
If you know the precise value of your case, you can enter the negotiations with confidence so that the other party does not have the temptation to make you settle for a lowball offer.
Organize Yourself
Remaining composed during the negotiation process is key. You should also organize all the documents and evidence you want to present. If there are any weak spots in your case, you should anticipate those and prepare counterarguments.
Stay Calm
Advocating for your rights is never easy, but getting overly emotional during the negotiations can serve you the wrong way. The best way to stay confident is to work with a supportive lawyer.
What to Do If Parties Cannot Agree?
Even with the best legal representation, sometimes negotiations stall with either party unwilling to step down. In cases like that, there are a few things you can and should do:
- Continue negotiations: In some instances, it may be a good idea to reevaluate your case, especially if your legal assistant has advised you to do so.
- Invite a mediator: An unbiased mediation may inspire solutions that will satisfy both parties.
- Go to trial: Sometimes, personal injury lawsuits are inevitable. Taking your claim to court may be the only opportunity to get the compensation you seek.
Get a Free Case Evaluation
How Can a Professional Lawyer Help with the Negotiation Process?
Seeking compensation after a car accident or any other incident is a challenging and lengthy process. A skilled legal representative can help you in a variety of ways:
- A seasoned personal injury attorney will evaluate the case, pointing out its actual value.
- Law firms like Michael Kelly Injury Lawyers can access critical evidence while you heal and recover.
- Most field lawyers know how to communicate with insurance company representatives aggressively but strategically to preserve the client’s interests.
- A professional lawyer will take over all the communication to protect the victim from unnecessary strain.
- They will point you in the right direction when it comes to making complex decisions.
Get Help From Our Experienced Lawyers Today!
The pressure of piling medical expenses and compromised earning capacity, along with the other inconveniences triggered by other people’s negligence, can and should be fully compensated. However, negotiating a rightful settlement does not get any easier with an insurance company constantly delaying or completely ignoring you. Working with a professional attorney is the best way toward a fair negotiated settlement.
Contact our lawyers today for a free consultation to know where you’re standing with your insurance claim. Our team works on a contingency basis, so we’ll fight for your rights and maximum reimbursement without causing you more financial stress!
