The damage caused by a large commercial truck accident can be devastating. Knowing what to do and how to get your life back on track can be difficult after an accident. After a truck accident, you will hear from many different parties, including insurance companies. You will likely get a settlement offer from the insurance company. What do you do after you get the first offer from the insurance company?
After getting the first offer from the insurance company, the best thing to do is to speak to an attorney. An experienced truck accident lawyer will advise you to make the best decision regarding insurance claims after a crash. Contact a lawyer now to learn more about your legal options after a crash.
How Common Are Large Commercial Truck Accidents?
Commercial truck accidents are, unfortunately, a common occurrence annually across the country. According to the National Highway Traffic Safety Administration, here are some of the most staggering truck accident statistics:
- In a recent year, there were more than 500,000 large trucks were involved in injury-causing traffic accidents across the United States
- Large commercial trucks were involved in nearly 6,000 deadly crashes nationwide
- The number of deadly crashes increased by 1.8 percent from one year to the next
Who Insures Large Commercial Trucks?
If you have been injured or lost a loved one in a truck accident, it is important to know who insures large commercial trucks and their drivers. Large commercial trucks are typically insured by specialized insurance companies that provide coverage tailored to the needs of commercial trucking businesses.
The types of insurance that large commercial trucks and trucking companies carry include the following:
- Environmental liability insurance that covers cleanup costs and damages related to spills or environmental hazards
- Workers’ compensation insurance, which covers injuries to drivers and other employees while on the job
- General liability insurance which protects against claims arising from non-driving business activities, such as loading and unloading
- Bobtail insurance covers trucks when driving without a trailer attached
- Non-trucking liability insurance provides coverage for trucks when they are not under dispatch or are off-duty
- Physical damage coverage protects the truck itself from damages due to accidents, theft, or natural disasters
- Primary liability insurance covers bodily injury and property damage to others caused by the truck
No matter what category or type of trucking insurance pays for your injuries, having a truck accident attorney protects your rights. Contact an attorney now to ensure that you are protected and that you can properly assert your rights against commercial truck insurance companies. Contact a lawyer now to start getting your life back on track after a truck accident.
Steps To Take After Getting The First Offer From An Insurance Company
What you do after a truck accident is important. Insurance companies for large commercial truck companies want to entice accident victims with quick settlement offers, but these offers are usually insufficient to cover your total losses. Speak with a truck accident attorney and consider taking the following steps after getting your first offer from the trucking company’s insurance provider. Receiving the first settlement offer from an insurance company after a truck accident is a pivotal moment in your case. Here is how to handle it effectively:
Consult a Lawyer Before Responding
An experienced truck accident lawyer can evaluate the offer and compare it to the actual value of your claim. Insurance companies can identify tactics used to minimize payouts, such as undervaluing pain and suffering or ignoring long-term damages. An attorney can explain your rights after a truck accident.
Do Not Accept the Offer Immediately
The first offer from an insurance company is usually low and used to tempt you into settling quickly and, unknowingly, saving the insurance company thousands of dollars. Instead, politely decline to accept or reject the offer until you have had time to review it fully with an experienced attorney.
Review the Offer With Your Lawyer
Review the offer in detail with your lawyer immediately after receiving it. Talk to your lawyer about the extent of your damages and compare your offer to the total amount of your damages, including medical bills, lost earnings, property damage, pain and suffering, etc. Ask yourself: does the offer cover both current and future damages related to the accident?
Avoid Discussing Settlement Details
After getting the initial offer, refrain from talking directly with the insurance adjuster about accepting or rejecting the offer. Let your lawyer handle communication to avoid missteps that can weaken your claim.
Gather and Present Evidence
To effectively counter the initial offer, ensure you have strong documentation, including:
- Expert opinions and assessments from doctors or accident reconstruction experts, if needed
- Financial documentation, including pay stubs or other proof of lost income
- Accident reports or crash investigation findings, especially if fault was established within the report
- Any medical records that provide proof of injury or severity and the cost of treatment
Prepare a Counteroffer
If the first offer is too low, your lawyer can prepare a counteroffer for settlement. A truck accident attorney can then draft a demand letter detailing your injuries, damages, and the compensation you seek. Your lawyer will use evidence to justify why you deserve a higher settlement amount.
Consider Your Future Needs
Truck accidents can result in severe injuries with long-term consequences. Ensure the settlement includes the cost of future medical expenses like ongoing therapy, surgeries, or medications, long-term disability needs that cover your lost earning capacity or permanent lifestyle changes, and emotional distress and compensation for psychological impacts like post-traumatic stress disorder.
Litigation As a Last Resort
If negotiations stall and the insurance company refuses to offer fair compensation, your lawyer may recommend filing a lawsuit. Filing a lawsuit shows you are serious and may encourage a more favorable settlement before trial.
Be Patient
Insurance companies often expect you to settle quickly, especially if you are in financial distress after an accident. However, rushing to accept an offer can leave significant compensation on the table. Negotiations may take time, especially in cases involving serious injuries or high-value claims.
What Not To Do After Getting The First Offer From An Insurance Company
What you avoid doing after getting the first offer from the insurance company is just as important as what you choose to do. Here is what you should absolutely avoid after getting the first offer from the insurance company.
- Do not accept a verbal offer. After an accident, you should always require the insurance company to provide a written breakdown of the settlement terms.
- Do not downplay your injuries. Injury victims often downplay their injuries after an accident. Be honest and thorough about your physical, emotional, and financial damages.
- Do not sign anything. Avoid signing any release forms without consulting your lawyer, as this can waive your right to pursue further compensation.
Working closely with an attorney is the best way to ensure that you avoid the common pitfalls that accident victims fall prey to after a truck accident. Never try to get compensation alone. An experienced attorney will seek the full and fair compensation you deserve after a truck accident so you avoid being taken advantage of by large commercial truck insurance companies.
What Is My Claim Worth?
It can be difficult to understand the full value of your claim. You may not know what your claim is worth when you are initially injured. The following factors may be used by the insurance company and your truck accident attorney to establish the final value of your claim.
Insurance Policy Limits
The reality of most personal injury lawsuits is that the amount of money that can be recovered is limited by the insurance policy limits. There may not be any additional money available than the insurance policy limits. The value of your case may be determined based on the insurance policy limits.
Severity of Injuries
Some injuries are so severe that it will take a lot of medical treatment to fully recover. This treatment can get quite expensive. You deserve to be compensated for the cost of treating your injuries.
Injuries can include the physical and mental impact of an accident. These injuries can continue to develop over weeks and months after the accident. Do not accept a settlement offer until you have had the chance to properly estimate your damages, including the full extent of your injuries. If your injuries are permanent, for example, the value of your case might increase.
Medical Bills and Expenses
Wait to settle your case until you reach maximum medical improvement. Your maximum medical improvement is reached when your medical provider reports that there are no further medical treatments available that will improve your condition. After reaching the end of your treatment plan, you will have a more solid idea of your total medical bills and will know what a good offer from the insurance company will include.
Property Damage
You can also receive compensation for your property damage. The higher the value of your property damage, the higher your settlement value. Your attorney may want you to get several property repair estimates from a few body shops to determine the value of the repairs necessary for your vehicle.
Inability To Return To Work
Accident victims can recover their lost income as a part of their personal injury lawsuit. If you have missed work because of your injuries, the total lost income should be a part of your final compensation package. You may also be entitled to recover for any lost earning capacity.
Discuss your accident-related losses with your lawyer before accepting an insurance settlement offer. You deserve to get full and fair compensation after an accident. Do not settle for less than what you deserve after a truck accident.
Are There Risks To Talking To An Insurance Company Without An Attorney?
Yes, it is risky to speak to an insurance adjuster before having legal representation. Insurance companies want to lock you into your story. They might want you to give a written or recorded statement and use the evidence against you down the line. This is a common practice. Insurance companies often use these statements to attempt to limit the amount of recovery that an accident victim receives.
Additionally, insurance adjusters might suggest that you share some blame for causing the accident. Insurance companies might try to twist your words to get you to agree that you caused an accident. Let an attorney speak for you and rely on their experience and knowledge of the system.
The biggest risk of speaking to an insurance company without legal representation is settling too soon out of fear, worry, or desperation. Remember that accepting a settlement offer is binding, and once you accept it, you cannot go back. Work with a lawyer to know exactly what you deserve after a truck accident.
How Long Do I Have To Sue After a Truck Accident?
You do not have unlimited time to sue or settle after a truck accident. Every truck accident victim has a deadline to sue or settle their case. This deadline is known as the statute of limitations. The statute of limitations is set by state law and missing it is usually a bar on recovery.
Despite the limited time you have to sue or settle, it does not mean you should quickly accept an inadequate settlement offer. You should work with a lawyer to ensure you comply with all applicable procedural rules while working towards a satisfactory settlement offer after a truck accident.
Contact a Truck Accident Attorney Today
You deserve proper legal representation after a truck accident. Call an attorney to discuss the details of your first settlement offer from the insurance company now to ensure that you are not taken advantage of by powerful insurance companies. Do not delay. Contact a personal injury lawyer now to protect your legal rights after an accident.
Consultations are free, so you have nothing to lose by discussing a potential truck accident case today.