When you pursue compensation after an accident, expect negotiations for your settlement to take a good chunk of time. On average, most negotiations take roughly one to three months once all relevant variables are known. There are, however, exceptions to this, and some settlements can take much longer to resolve. If you find that your settlement takes longer than expected to negotiate, you should consider obtaining professional legal assistance from an experienced attorney.
The lawyers at ASK LLP have years of experience helping clients negotiate settlements. While there is no concrete and foolproof method of resolving negotiations instantly, we know all of the ways to help speed up the process of getting your settlement.
Perhaps most critically, an ASK lawyer can assist you in ensuring that when you negotiate you are in the best procedural posture – often that requires starting a lawsuit. Let us help you get the money you deserve today. Call us at (877) 746-4275.
Basic Timeline of Negotiations
According to Nolo, you will most likely have a back and forth exchange with an insurance adjuster. Generally, after an accident, most negotiations will follow this basic outline:
- Gathering all of your evidence and getting medical treatment.
- Initiating your claim and filing all of your paperwork with or without the assistance of a lawyer.
- The insurance company conducts its own investigation into the matter.
- Negotiations commence where you and the insurance party make a deal for a settlement.
- If negotiations are successful, you get a settlement. If they’re not, you can escalate your claim to court.
Not all claims will follow this timeline. Regardless, without the assistance of a lawyer, you can expect settlement negotiations to take longer with less impressive results.
Why Can Negotiations Take a Long Time?
Negotiations can take a long time due to a variety of factors.
Insurance companies are businesses that will always try to protect their own interests over yours. Most insurance companies will be hesitant to give out money willingly. They will often fight, contest, and stall the negotiations to pressure you into accepting a lower settlement. Dragging negotiations on and on is a strong tactic that is often successful. Beyond simply trying to exhaust the opposition, delay benefits the insurance company in a very tangible way – the so-called “float” – see Warren Buffet (the chairman of GEICO’s parent company’s) explanation of the topic at: https://www.npr.org/sections/money/2010/03/warren_buffett_explains_the_ge.html.
Depending on your injuries, it may take a while to reach the negotiations phase if you’re still getting treated and healing. You never want to file your claim and resolve it before medical treatment. If your case resolves before all of your treatment completes, whatever costs you incur after will be your responsibility. It is crucial to heal as much as possible prior to negotiating and filing a claim.
Courts Take a Long Time
If your negotiations have to resort to a lawsuit in court, expect delays and a long battle ahead. Most court cases take a long time to resolve. The courts are often very busy with a large caseload year-round. It is possible that your case gets bogged down by others, which lengthens the time it takes to receive compensation.
Lacking a Lawyer to Represent You
Unless you already possess the legal knowledge, the chances are that you don’t have the experience or resources that lawyers do. It can be difficult to understand all of the laws and intricacies involving personal injury and financial compensation.
If you spend all of your time researching and understanding your claim, it can take a while before anything meaningful gets done for your case. A lawyer can alleviate these issues and get you started on filing your claim at the best time.
How Can I Speed Up the Negotiations Process?
There is no real way to speed up the negotiations process other than to:
- Stay organized and be consistent with all of your statements, evidence, etc.
- Know exactly how much you need in compensation from the get-go and stay true to that number.
- Be calm and resist the urge to be argumentative.
- Get a lawyer to help you fight for your settlement.
Most cases that involve significant amounts of money or have lots of conflicting witnesses will always have longer than normal negotiation periods. Try to resist the temptation to settle early and receive compensation fast. If you feel strongly about your case but need it to move along faster, consider obtaining the help of an attorney.
Call the Lawyers at ASK LLP Today
For over four decades, we have recovered millions of dollars in settlements for our clients. We are confident that we can help you reach your settlement as fast as possible. Do not hesitate to reach out to us today for a free consultation. You can call us anytime at (877) 746-4275.