How Long Does It Take to Reach a Personal Injury Settlement?
The length of time it takes to reach a personal injury settlement depends on a variety of factors. The process can take as little as a few weeks, or as long as a few years.
If you are willing to take less money than you deserve, an insurance company will make its first offer within a few weeks of the accident. However, if you want to maximize the settlement you receive, the process will take longer as the negotiation extends or litigation ensues.
If you or a loved one has been injured, call Zinda Law Group at (800) 863-5312 for a free consultation with a Phoenix accident attorney.
If your primary goal is to reach a settlement quickly, you should be aware that you are likely leaving money on the table. A quick settlement is beneficial to the insurance company because the settlement may not take into account any residual effects of your injuries.
The insurance company will be able to avoid paying for future treatment that may be required down the road. You should think about how much money you are leaving on the table if you decide to settle the claim quickly, as well as consult with an experienced personal injury lawyer before making a decision.
Extent of Your Injuries
The length of the process also depends on the extent of your injuries. It is in your best interest to wait until you reach your maximum medical improvement before reaching a settlement. Your maximum medical improvement is the point where no further medical procedure or treatment will improve your condition.
It is beneficial to wait until this point so that your attorney can adequately assess your damages. This will allow your doctor to assess any lingering effects of your injuries, and your attorney can factor that in when calculating what your claim is worth. In most cases, a person reaches their maximum medical improvement within a few months.
Is Liability in Dispute?
In some cases, the party who was at fault will admit liability right away. In other cases, there may be a question as to who was liable for the accident.
If liability is in dispute, the insurance company may not make a reasonable settlement offer until liability can be proved in court. This will undoubtedly prolong the process, which is why you should be prepared to litigate your case. The more complex your case is, the longer it will take to resolve.
How Much Money Is at Stake?
If there are large amounts of money at stake, an insurance company is not likely to offer a settlement until they have reviewed the claim from every angle. The insurance company will want to confirm if your injuries are as serious as you claim, if there is a strong defense to your claim, and if they cannot undermine your reliability.
Our Phoenix Injury Lawyers Can Help
At Zinda Law Group, our Phoenix accident attorneys have helped countless injury victims recover damages in a wide range of personal injury cases. We will fight to protect your legal rights, and we can help you seek compensation for medical bills, property damage, lost wages, pain and suffering, and more.
Call us today at (800) 863-5312 for a free consultation with one of our Phoenix personal injury lawyers. Meetings with attorneys by appointment only.