As the chronological chart illustrates, the average response time for insurance companies that handle most claims is approximately two months. Depending on your case, you can expect a check from an insurance company within 4 to 6 weeks of signing a settlement release. Sometimes, an insurance company will include a check along with the authorization. It will be stipulated that once the check is cashed, the possibility of claiming greater damages will no longer be available.
The problem is that that check may not cover all of your losses. Most of the time, the negotiation of the deal takes a few weeks or months after receiving the first offer. Once again, the exact timetable will depend on each case. If you can't reach a settlement, your case will go to litigation, which will start the discovery process.
It's important to note that, even if your case begins the litigation process, your lawyer can and will continue to negotiate with the insurance company to reach a settlement. The discovery process can take from several months to a year, so it's not uncommon to reach a settlement before a trial begins. This outcome is especially common if, as you progress through the discovery process, the strengths of your case become more apparent. When it comes to determining how long a settlement negotiation will last, the answer may vary.
Average settlement trading takes one to three months once all relevant variables are presented. However, some agreements may take much longer to resolve. There could be a simple explanation for the lack of response, such as that the adjuster is backed up with work or went on vacation, or the demand letter was lost in the insurance company's mess. If you suspect insurance bad faith, discuss the problem with your insurance company and, if that doesn't resolve the problem, be prepared to consult an attorney.
If you are making a counteroffer, your lawyer should prepare a letter to the insurance company and describe why you think you are eligible for further compensation. It's also a good idea to alert your insurance company to keep them informed, even if you're not going to file a claim through it. When you and your lawyer send a letter of demand to the at-fault party's insurance company, there are many possible answers you can receive. The Law Offices of Nicholl are prepared to investigate your claim and handle all communications and negotiations with the insurance company on your behalf.
The agreement between the injured person and the at-fault party (represented by a defense attorney and the insurance company) is called an agreement. If you suffer a personal injury in an incident, such as a car accident, that you didn't cause, your lawyer can seek compensation on your behalf from the at-fault party's liability insurance company. In addition to counteroffers, a deal can be time-consuming due to stalemate tactics, medical treatment, difficulty finding qualified legal representation, and tedious court proceedings. In the typical settlement, the injured party (you) receives money from the at-fault party's insurance company, in exchange for releasing the at-fault party (and that party's insurance company) from any future liability related to the lawsuit.
In addition, your insurance company may not pay a claim if it discovers that you lied in your claim. Ideally, it would take you just over a month to receive an agreement from the insurance company. If you don't have a personal injury lawyer to help you with your claim, your insurance company will try to close your claim quickly and for the least amount of money possible. A personal injury lawyer collects evidence to build a strong case and communicates with insurance companies on your behalf.