If you were hurt and it was the result of someone else's negligence, you may be facing expenses like medical costs and lost wages. To get money for your losses, you file a personal injury claim. However, the settlement negotiation process can take some time. Sometimes, it depends on your injury and what your recovery looks like. However, the last thing you want to do is accept a quick settlement offer before you know the extent of your injury, the cost of recovery and your losses altogether. But, let's say you decline a first settlement offer to assess your losses, how long do you have to wait until you get a second settlement offer? We will discuss this entire process in the following article.
The ability to negotiate is an important element to getting the compensation you deserve. But, you will need an experienced personal injury attorney by your side to make this happen.
The team at Brandon J. Broderick, Attorney at Law has more than a decade of experience in helping clients who have been injured get justice in their personal injury cases. Contact our offices for help.
How Negotiations For a Settlement Works
If someone else's negligence results in your injuries, they are legally responsible for the damages. You can file a personal injury claim to seek compensation to cover your losses. How much is your claim worth? This will be determined by:
- The percentage of fault assigned to the defendant
- The percentage of fault assigned to the plaintiff if found to be partially at fault
- Total damages related to your injuries
An experienced personal injury attorney can assist you in calculating the total cost of your damages accurately. You'll get the settlement you deserve if the other party's insurance company agrees.
The insurance company typically offers a small offer, especially in the beginning. Insurance companies rarely give you the entire amount of your damages immediately. Instead, your lawyer will likely engage in back-and-forth negotiations until both parties settle on a price.
Injury cases typically result in a settlement. Sometimes, both sides do not agree and a lawsuit is filed.
The Timeline For a Personal Injury Settlement
Depending on how many offers and counteroffers are made before you accept a settlement price, the length of the negotiation process can vary from case to case.
The insurance company will often respond to your demand letter within one to two weeks. Following that, it may take weeks or months until you arrive at a settlement that you accept. While some people might take the first or second counteroffer, others would choose to not accept until a third or fourth.
It can take two weeks to a month to get a check. The length of time the insurance company has to pay you the full sum is generally set during the negotiation process. Your attorney may place the check they send out into a trust account until the check clears the bank. Then the attorney will deduct their costs and settle any unpaid medical provider liens you might have. The remaining balance is then sent to the client.
Call For a Free Consultation With Brandon J. Broderick
Contacting a lawyer before beginning the negotiation process can be advantageous. The team at Brandon J. Broderick, Attorney at Law has worked with a number of clients who were involved in various injury cases. We know what it takes to be successful.
For a no-risk, free consultation, call us to schedule an appointment.