Insurance settlement negotiations are an unfortunate part of the insurance claim process. Instead of just receiving your rightful payout from your insurance policy, you will be required to justify your claim and the amount of the payout. This is necessary because not all claims are genuine and insurance companies need to protect themselves. It also helps to protect you to make sure that you get a chance to present your case. This is all well and good, but how long does it take?
How Much are you Looking to Get?
How long insurance settlement negotiations will take depends partly on how much money you hope to get out of this situation. Whatever your situation, your insurance company will be attempting to pay as little as possible to you. It's just good business for them. But this may not be good for you.
If you are not looking to get much out of your claim then your insurance settlement negotiations may be over rather quickly. If an insurance company representative sees that the matter can be settled for less than what you could conceivably be asking for then you may reach an agreement in your negotiations rather quickly. If you are looking for an amount that is fair or even an amount that matches the maximum you could get for a claim of this nature then the negotiation process could take longer.
How Strong is your Case?
You power in insurance settlement negotiations lies in the strength of your case.
- Can you prove that you deserve to receive a certain amount of money?
- Can your insurance company show that perhaps you were at fault or that your claim should not be paid out in full, or at all, for some other reason?
If your case is airtight then negotiations will proceed more quickly than if your case is less than perfect. You will probably get more money if your case is airtight, too.
How Long Will all of this Take?
The honest and often unsatisfying answer to this question is that your case will be unique. You cannot know for sure ahead of time how long insurance settlement negotiations will last. All you can do is gather all the evidence and documentation concerning your case that you have and work to understand the insurance settlement negotiation process.
Protect Yourself With Legal Help
To be certain of your ability to negotiate you should consider hiring a lawyer to assist you or to handle the matter for you. When an insurance company does not want to pay, or does not want to pay your full and rightful claim, you can be certain that they will have a strong legal team on the case, and to protect your rights, so, too, should you.