The average trading of the settlement takes one to three months once all the relevant variables are presented. However, some agreements may take much longer to resolve. By partnering with qualified legal counsel, you can speed up the negotiation process and ensure quicker compensation. In general, the negotiation process of the agreement usually takes a few weeks to a few months.
If all goes well, you and the other party will agree to a fair settlement for your damages. If you are unable to reach an agreement, your case will go into litigation, which will begin the discovery process. It's important to note that even if your case starts the litigation process, your lawyer can and will continue to negotiate with the insurance company to reach a settlement. The discovery process can take anywhere from several months to a year, so it's not uncommon to reach an agreement before a trial actually starts.
This outcome is especially common if, as you progress through the discovery process, the strengths of your case become more evident. The journey from lawsuit to final settlement may take only weeks in some cases. In others, it may take a year or more. The negotiation period will vary depending on the number of offers and counteroffers that occur before you accept a settlement amount.
It can usually take between one and two weeks for the insurance company to respond to your demand letter. Then, it may take weeks to months until you reach an agreement that you will accept. Some people accept the first or second offer, while others may accept the third or fourth counteroffer. This process continues until you and the insurance company agree on a final settlement amount.
This process takes 15 to 90 days, on average. If you've been involved in an accident that wasn't your fault, you may be eligible to file a personal injury claim. The length of time a settlement negotiation takes often depends on a variety of factors, and legal negotiations typically take several months to complete. The injuries you may have suffered and the number of parties involved in the accident are examples of factors that can determine how long a negotiation could last.
Although you may have already had to wait a considerable amount of time to get all your medical and income records, try not to rush too quickly to resolve your claim. One of the tactics that claims adjustors use is to make a low initial settlement offer and see if you are too impatient to continue negotiating. If you can wait, don't jump into a first offer. Waiting a little while often increases your settlement.
After some time has passed, it will be the adjuster who wants to settle your claim as soon as possible, and then you can get the full value of your claim. You can also ask your lawyer to present your medical bills as expenses related to car accidents when you negotiate a settlement with the responsible party. By helping your lawyer prepare, you help send your lawyer to negotiate in as strong a bargaining position as possible. Next, learn about how long negotiations can take to reach a car accident settlement and some of the factors that can make the process last longer.