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How Long Does A Car Accident Settlement Take With A Lawyer?
How long does it take to settle a car crash with an attorney? This is one of the most common questions injured car accident victims Google. You can receive a settlement if you are injured in an accident that was not your fault. The insurance company of the other party (or, in some cases, your own) will pay you a settlement.
Faster isn’t always better – it’s usually worse!
It’s important to keep in mind that a quick settlement of injury claims following a car crash isn’t necessarily a good thing.
It is difficult to struggle financially after a car crash, with the burden of medical bills and/or being out of work while you recover, but quick settlements can be made because the amounts are lower. Accepting a quick settlement could lead to you struggling financially in the future because it might not cover your expenses.
Every car accident victim should understand this fundamental principle: Insurance companies lose money by paying out settlements. As a profit-making business, insurance companies are worried about their bottom line. Losing money is something they would rather avoid.
They can save money by offering low-cost but quick settlements to accident victim who need their accident bills paid. A fast settlement will likely be a low-cost one.
As Nolo says, “ Many factors associated with higher payouts and successful outcomes also increase the time required to resolve claims.”
How long will it take? It depends!
It takes longer to settle a car accident with an attorney than without, but that is not necessarily a good thing!
A Martindale-Nolo study analyzed data from federal court cases and responses from participants in the United States. The survey found that half of the respondents resolved their personal injury cases within two months to up to a full year. 30% of respondents waited more than a year to resolve their cases. Overall, the average time was 11.4 months.
If you have a case that is more complicated, it may take longer to settle
How to Negotiate with the Insurance Company
Negotiating with the insurance company will result in a quicker settlement. You will need to negotiate a number that is acceptable.
You have a lawyer –
Negotiating alone is unlikely to yield the settlement you are hoping for. Negotiating power is not yours! With a lawyer on your side, insurance companies will be forced to listen to you. Lawyers have a variety of tools and experience to use against insurance companies. A lawyer can use a variety of tools to help you increase the compensation offered by your insurance company. They may file motions, engage in negotiations, obtain second opinions, collect supporting evidence, call expert witnesses, and much more.
This will require more time, but you’ll also increase your chances of receiving the best settlement.
Over 9/10 survey participants who hired legal representation got a settlement compared to only 5/10 who did it themselves without an attorney. Participants who hired lawyers also received an overall average of $76,600, compared to $17,600 for those who didn’t. These are big differences. Even though every situation is different, it would be worth the time to receive that difference.
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You Threaten To File, Or Do File, A Lawsuit
It will take longer to settle a case if your lawyer believes that your best interests would be served by suing the insurance company and bringing your case to court. A lawsuit is not easy to settle. Some reports indicate that it takes an average of just over a year to reach a settlement. If you have a good case, it might be worth a lawsuit because it could result in a higher settlement.
In one survey, participants who filed a lawsuit or threatened to do so were more likely than others to receive a settlement. Their payouts were nearly twice as high compared to those who didn’t.
Your case goes all the way to the verdict
Most car accident injury claims are settled out of court. It doesn’t matter if you file a lawsuit. Your lawyer and insurance company can still reach an agreement before the verdict is given. You can expect your case to take much longer if it goes through the entire trial process. Trials can be very complex and can take a long time. A verdict could mean a higher amount.
One study found that from 2004 to 2023, most federal personal injury lawsuits that reached a final verdict took more than a year to conclude, and in some cases, even longer.
If You Deserve A Large Settlement, Be Willing To Wait For It!
Only a lawyer is able to accurately assess the value of an injury. If you want to move on quickly, you might accept a quick settlement. But if your lawyer thinks they can get you a larger amount, you should be patient.
You may be able to use other funding sources to cover your costs until your case is settled. The Link UP Solutions helps clients deal with financial issues in their cases and can provide resources.
Our car accident attorneys are available to help you with a free consultation to learn about the time it may take for your case to be settled.
How long does it take to settle a car crash with an attorney? This is one of the most common questions injured car accident victims Google. You can receive a settlement if you are injured in an accident that was not your fault. The insurance company of the other party (or, in some cases, your own) will pay you a settlement.