After a truck accident, dealing with insurance companies can be an overwhelming and complex process. Insurance companies have teams of adjusters and attorneys whose primary goal is to protect their own interests and minimize their payout. This is where hiring a truck accident lawyer becomes valuable in making sure you receive a fair and just settlement.
Your truck accident lawyer may have filed a claim or lawsuit that made a compelling case that the trucking company was to blame for your injuries. The insurance company may have accepted liability and kicked off settlement negotiations. However, you may become angry and shocked when you see the number it offers you, because the initial settlement offer will likely be appallingly low. The proper course of action is to reject the first offer because it will always be too little. Then, it will be up to your truck accident attorney to advise you on the next steps. A low first offer does not close the door on the prospect that you will get the compensation you deserve.
Your best chance of getting the insurance company to take a more reasonable position is to hire a truck accident attorney to represent you in the legal process. A truck accident lawyer knows how to negotiate and provides the legal muscle you need to pressure the insurance company to pay up in a settlement. The time to contact a truck accident lawyer is now, because the early days of your case are important to the overall result. Getting a truck accident attorney working for you does not cost you anything out of your pocket.
Why Settlement Offers Are Low
Insurance companies know how badly their policyholder has injured you when they see your claim. They will have their experts review your medical records, and they will soon see the full extent of your damages. Insurance companies will run your claim through their system, which tracks the value of the filed claims in your area and across the country. That will be the absolute top of what they are willing to pay you, and chances are that they will try to settle your claim for far less.
Insurance companies make money when they settle claims for less than the actual value. They have priced in the risk their policyholders pose when setting policy premiums, and they know their portfolio's overall risk. Although each premium is set based on the individual trucking company's record, insurance companies generally understand the total damages they must pay annually. Therefore, they try to go under that amount to raise their profits as much as possible.
In the best-case scenario, insurance companies can convince you to take less than you deserve. It is up to you to keep that from happening, and an experienced truck accident attorney can protect your rights throughout the process.
Know the Value of Your Truck Accident Claim Before You File It
You need as much information as possible before you file your claim. Because insurance companies know the exact value of your claim, you need this critical piece of information before you place anything in front of them. Since the value of your truck accident injuries can be significant, you must know the value of your case, right down to the exact dollar. Of course, insurance companies will have their own view of your damages that serves their self-interest.
A truck accident lawyer has means at their disposal to estimate the value of your claim. If your case is worth significant money, your truck accident attorney may work with a roster of expert witnesses to understand your situation. They can work with vocational experts to learn how your injuries impact your ability to earn a living, and they can enlist the help of a life-care planning expert to know what you may need in the future with your daily life activities. Your truck accident lawyer's role is to provide you with experience and knowledge to help you learn how much money to seek in your case.
Your truck accident damages can include the following:
- Medical expenses
- Lost earnings
- Pain and suffering
- Loss of enjoyment of life
- Scarring and disfigurement
- Emotional distress
If your loved one died in a truck accident, your family's damages in a wrongful death lawsuit will depend on what you have lost. Wrongful death damages are highly subjective, and they value the worth of a specific life to a family. You can expect the insurance company to challenge whatever claim you make, so you must be highly prepared by knowing how much your wrongful death lawsuit is worth.
Have a Lawyer Review the Claim
It is best never to accept any settlement offer that insurance companies make directly to you. If they see that you have not yet hired a truck accident lawyer, they may try to make a quick offer before you know how much you deserve in damages. They may try to pressure you to take their money because they know full well that they are "putting one over on you."
You should always have a truck accident attorney review any offer that insurance companies have made you. If they gave you the offer before you hired a lawyer, you should either tell them no or inform them that you need legal representation. Then, you should provide your truck accident attorney with the exact settlement offer so they can review every element. Chances are, insurance companies have broken the offer out line-by-line to let you know how they view each aspect of your damages, and this breakout should show you exactly how they are undervaluing your claim.
Your truck accident lawyer will explain the settlement offer and tell you if it is inadequate, and they will then give you their best advice about your course of action. If you have received an initial settlement offer, you will likely reject it.
Reject the Settlement Offer if it Is Too Low
You are never under any obligation to accept a settlement offer that insurance companies make. They are a negotiator who sits across the table from you, and they will try to set up settlement discussions in an advantageous way.
You do not have to accept any settlement offer, especially for less than you deserve. If the insurance company is not offering you enough money, the best thing you can do is say no. When you reject a settlement offer, insurance companies remove it from the table. However, they will likely be happy to re-offer it to you in the future, especially when it is for a lower amount (not that you should accept less than you deserve).
Rejecting a low settlement offer sends a message to insurance companies that they need to take you seriously. You have shown them that you know the value of your case, and you will not accept less than you deserve.
The only way you should accept an initial settlement offer is for the policy maximum. If the facts of your case are egregious, and it is highly apparent to insurance companies that things may be even worse for their policyholder if you file a lawsuit (opening them up to a bad faith lawsuit), they may decide that it is better not to take any chances. They can offer you the policy maximum right away. It is up to you whether to accept the offer or take your chances by filing a lawsuit against the trucking company, allowing you to go after their assets when you receive a judgment.
You Can Always Make a Counteroffer
You have the right to counter with a settlement figure of your own during negotiations. In fact, it is precisely what insurance companies expect when they make you a low settlement offer. They anticipate that there will be a negotiation process that unfolds over time.
After your attorney reviews the settlement offer, you can make an offer back to insurance companies. A counteroffer has the legal effect of rejecting the one they made to you, and whether to continue negotiating informally or send a demand letter is your choice. A demand letter is a more formal communication that tells insurance companies they will need to pay you a certain sum of money or face the potential of a lawsuit. Either way, you have communicated your position to them.
You Can File a Lawsuit Against the Trucking Company
You do not even have to go through the claims process if you do not choose. Your truck accident lawyer may advise you that it is in your best interest not to deal directly with the insurance company and file a court lawsuit. The trucking company can be legally responsible for the driver's actions under the legal theory of respondeat superior. To be clear, if you filed a truck accident lawsuit, you may still have to go up against the insurance company.
Your truck accident lawyer may believe it will be more effective for you to start in court. There are important reasons to file a truck accident lawsuit. You can begin the legal process that will lead to the discovery of vital evidence in the trucking company's hands. In addition, you can qualify for even more money if the jury finds that your case warrants punitive damages.
If you file a lawsuit, a settlement is still the most likely outcome of your case. Insurance and trucking companies know what is at stake, and they understand that jury members may get angry when they see a careless trucking company and a seriously injured accident victim. Nonetheless, you may need to go through almost the entire lawsuit process before reaching that point. Still, a lawsuit can pressure the insurance company to settle the case for the compensation you deserve.
At the same time, you can also stop negotiating with insurance companies and take your case to court at any point during the process. Suppose insurance companies deny your claim or do not seem serious about settling your case within a reasonable time. In that case, you can always file a lawsuit against the trucking company. This outcome is one that insurance companies do not want because they have to defend the case on behalf of their policyholder. Then, they are also afraid that your case may reach a jury that will hand down a substantial verdict.
How a Truck Accident Attorney Can Help Your Case
Whether the insurance company wants to settle your truck accident claim depends mainly on the strength of the evidence that you can compile and present. A truck accident lawyer can investigate your accident and gather proof that the trucking company was to blame for what happened. They can aggressively seek to get evidence from the trucking company's hands during the lawsuit process.
Then, your truck accident lawyer will help determine the value of your case so you can demand every dollar you deserve. Once you have that knowledge, you can file a claim with the insurance company or a lawsuit in court.
Your truck accident attorney will handle every detail in your case. They will explain your legal options and advise you on the decisions you need to make. Your truck accident attorney will lead the battle on your behalf when it is time to fight. They will speak directly with insurance companies and negotiate with them for the right amount of compensation.
When you hire a personal injury lawyer for your truck accident case, they typically work on a contingency fee basis, meaning they will only get paid if they successfully recover compensation for you. Their fee will be an agreed percentage of the amount you receive. This arrangement lets you pursue your case without worrying about paying expensive attorney fees.
Schedule a Free Consultation With A Truck Accident Attorney
Remember, insurance companies are not on your side. You need an experienced truck accident lawyer by your side to level the playing field and maximize your chances of receiving fair compensation. They will fight tirelessly to protect your rights, advocate for your best interests, and ensure you get the money you deserve for your losses.
Steve Fields
Founder | CEO | Principal | Attorney
Steve Fields founded Fields Law in 2001 and quickly established a reputation with his Personal Injury clients for being a lawyer who truly cares. After more than 20 years, those clients continue to refer their friends and family whenever they have been injured or become disabled.
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