More About How Long It Takes To Negotiate A Legal Settlement
If you are ever involved in a personal injury accident, you, the defendant, and your legal teams will almost certainly be involved in a negotiations process. There are certain factors that will extend or shorten the negotiations period. They are the subject of this article.
Personal injury lawsuits rarely go to court. The personal injury lawyer in Watsonville, you hire will inform you of this. The reason is that it’s faster, cheaper, and much less risky to simply settle out of court. Personal injury lawyers know that the guilty party will pay the settlement amount when a settlement agreement is reached. While the length of time for negotiations for each personal injury case is different because each case is different, there are some common variables that affect the duration of the negotiations period.
Do you know what a negotiated settlement is?
Personal injury lawyers know that a settlement agreement is reached only when both parties agree to the amount that the defendant must pay in money for your settlement. You, the defendant, and your legal teams will do a lot of talking and objecting to reach that decision. If neither of you can reach a decision, your case is said to be in ‘impasse!’
How does a negotiation begin?
The negotiations process begins when you (the plaintiff) sends the defendant a demand letter asking for some money. You can make your letter and case stronger by including specific details that justify your claim. Just remember that your efforts may be futile since defendants’ insurance companies have been known to either take forever to send a settlement check or simply ignore the demand letter altogether.
The insurance company may be stalled because the adjuster is swamped with claims. Another reason for the delay may be because the adjuster is investigating your case.
The legal settlement negotiations timeline
Your personal injury lawyer will tell you that there are three main reasons why the negotiations process can drag on:
● How good is your case?
● The speed at which you want to settle
● The settlement amount that is acceptable for you
Insurance companies try to save money by giving you the lowest settlement they can. You will extend the negotiations process if this happens to you.
The sections of a claim that will determine the outcome of your case/claim
● How severe and necessary your medical treatment was after the accident
● How long you received medical treatment for
● How severe were your injuries?
● If your policy covers the scope of the accident and the resulting claim(s).
● If you were partially guilty
Determining the strength of your claim
The adjuster from the defendant’s insurance company will visit you at least once to ask you questions. It is from the answers that you provide that the adjuster will determine the strength of your case, and hence your settlement amount. If you have a strong case, it will likely settle quickly. More difficult cases tend to take longer to settle.
