Following a personal injury accident, you will be worried about how you will pay the medical bills, lost wages, property damages, and more. These piled-up bills can put the victims and their families under financial strain, especially when you are not prepared for the same.
When you file a personal injury claim to hold the at-fault party accountable, the process can sometimes be time-consuming. Negotiating a personal injury settlement refers to you and the at-fault party or their insurance company mutually agreeing to a compensation amount.
However, one of the common questions victims ask is how long it will take to negotiate their settlement. You should allow a Lexington personal injury attorney to handle your claim and fasten your negotiation process.
How long will it take to negotiate the settlement process?
Each case varies from one other. The time taken to negotiate the settlement process differs for each claim. Therefore, it does not make sense to get an exact timeline of the settlement process.
The process will unusually kick off by your attorney communicating with the at-fault party or their insurance carrier, demanding a compensation amount, and presenting all the evidence you have collected. The insurance company will conduct an investigation, after which they will respond.
Your attorney will communicate in a written form with the insurance company. After the investigation, the insurance company will start the negotiation process with your attorney.
During the negotiation process, your attorney and the insurance company may get involved through either formal communication or take help of a mediator. Mediation is a process where both parties will come to a mutual settlement offer with the help of a mediator. The mediation process can either be a personal decision by the insurance company, and your attorney or the court may order it.
Furthermore, in the negotiation process, both the parties understand each other’s weaknesses, strengths, liability, and more. Once you and the insurance company agree on a mutual settlement amount, the negotiation process will end with a final written agreement. This written agreement constitutes all the details about the settlement, including the term and conditions that you cannot file a claim again once the papers are signed.
Contact a personal injury attorney.
You do not want to risk initiating the negotiation process without an attorney. Doing so will do more harm than good. Therefore, speak to a personal injury attorney who can help fasten the negotiation and get a fair settlement.