How long does it take to negotiate insurance settlements?

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Question:

How long does it take to negotiate insurance settlements?

Answer:

The amount of time it takes to negotiate an insurance settlement can vary depending on:

  • Whether the insurance company accepts fault. If you have to prove fault, things will tend to take much longer
  • How much money you are willing to settle for. Often, holding out for a longer period of time will allow you to obtain larger insurance settlement amounts, since there will be more time for back and forth negotiation
  • How reasonable the insurers offer is. If your insurance company or the insurance company of the responsible party makes a reasonable offer early in the process, you can accept that offer and the settlement process will end. If the insurance company does not make a reasonable offer, then you should hold out and consider negotiating further, since once you settle, you will be unable to go back and try to collect more money later.

Hiring an experienced attorney is important during the settlement process and can help make things go more quickly. The attorney knows how to negotiate with an insurance company and can assist you in quickly getting the settlement you deserve with as little delay as possible.

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