After a truck accident, not only have you suffered a severe injury, you’re worried about your financial future. You might feel tempted to accept the first offer from the insurance company to move on with your life. But if you do, it can be one of your worst mistakes.
The following is a look at what you should do after receiving the first offer from the insurance company after a truck accident. You’ll learn why that offer won’t come close to paying for all your accident-related expenses and why you need the help of a skilled, experienced truck accident lawyer to get the compensation you deserve.
What To Expect From the Initial Offer
You must realize the insurance company’s first offer after a truck accident will merely be the starting point for negotiations. The insurer’s offer might seem substantial but will be very low. They do this purposefully, hoping you’ll jump at the offer and end the case.
While it might be tempting to settle quickly, it’s essential that you carefully evaluate the offer before doing anything. Don’t just look at the amount – analyze the details within the offer.
Break down the offer’s components, looking at how much goes toward your medical expenses, property damage, lost income, and potential future costs associated with the truck accident. Here’s a closer look at those components.
Medical Expenses
Do you have a clear idea of how much your medical bills will be, not just now but also in the future? A severe spinal cord injury, for example, can cost more than $1 million during the first year alone.
The first offer from the insurance company for a truck accident likely won’t encompass all aspects of your treatment. These aspects include hospital bills, medications, therapy, and more. You must comprehensively assess your medical needs to ensure the offer addresses your current and future healthcare requirements.
Property Damage
Since a large commercial truck is typically 30 times the weight of a passenger car, the impact will usually destroy the smaller vehicle when the two collide. However, the insurance company’s first offer after a truck accident might not reflect your car’s cash value. Also, what about any personal belongings you lost in the wreck? The offer must account for those as well.
Lost Income
If you’re severely hurt, that likely means you cannot work for a long time. You’re stressed because you’ve exhausted your time and are now losing your salary. The insurance company is counting on that stress driving you to accept their low-ball offer.
This is where patience and resilience come into play. Take a long look at how much you’re losing and will continue to lose due to your injury. What if you can’t go back to your job? What if you accept another position that doesn’t pay as much?
You should never accept an offer that fails to comprehensively compensate for your current lost income and the potential impact on your future earning capacity. Be careful in evaluating any settlement proposal to ensure it adequately addresses the full financial losses resulting from the present and future accident.
Other Future Costs
The settlement offer after a truck accident must cover all your expenses – not just the ones you accumulate in the wreck’s immediate aftermath.
Did you know that rehabilitation after a severe traumatic brain injury can cost $1,600 per day?
What if you’re experiencing severe emotional distress due to the wreck and need to see a mental health professional? The initial consultation with a psychiatrist can cost as much as $300. Each follow-up meeting can run at least $200.
You might incur other costs, such as making accommodations to your home because you can’t walk. A fair settlement offer will take all of these expenses into account.
The Critical Role of a Truck Accident Lawyer
Please don’t make the horrible mistake of accepting the first offer from the insurance company for a truck accident without first speaking to an attorney. A lawyer’s experience is invaluable in navigating settlement offers and the other complexities of this kind of case. They’ll look at the offer and recommend the best course of action.
A seasoned truck accident attorney will maximize your compensation by gathering evidence and negotiating a fair offer. They will leverage their extensive experience in handling similar cases to ensure you receive the compensation you deserve.
Your lawyer will also overcome the unique challenges truck accident cases pose. These are just some of the ways they’ll help.
Experience with Truck Accident Cases
Truck accident attorneys know these cases typically involve federal and state regulations, industry standards, and multiple liable parties. They will confidently guide you through these complexities, exploring potential avenues for compensation that you may not have previously considered.
Suppose the driver of the truck was speeding when the accident occurred. You might assume you’d only take action against that driver. However, several other parties can have played a role in causing the wreck.
Here are a few examples.
- The owner of the truck might not have inspected the brakes. They failed when the driver slammed on those brakes to avoid hitting you. You can sue not only the driver but also the trucking company.
- What if the accident happened because a faulty tire blew out? You can take legal action against the manufacturer of that defective tire.
- What if the truck rolled over, slamming into your vehicle? That rollover could have happened due to the negligent loading of the truck. The cargo might have shifted, causing the truck to lose its balance. There’s also a chance you can sue the company responsible for loading the cargo.
Countering Insurance Tactics
Many insurance companies employ questionable tactics designed to minimize an injury victim’s compensation or to deny claims outright. Seasoned truck accident attorneys not only recognize those tactics, but they also know how to defeat them.
The insurer, for instance, might try to downplay the severity of your injury or undervalue your present and future expenses. Your truck accident lawyer will shield you against these strategies, ensuring your compensation accounts for all your losses.
Your Truck Accident Lawyer’s Investigation – The Foundation of Your Case
You can’t maximize your compensation without knowing all the parties contributing to the truck accident. Your attorney can investigate how the accident happened and who played a role. These are just a few of the components of that investigation.
Evidence at the Scene
The first thing your attorney will do will be to go to the accident scene and start gathering evidence. If you hire a truck accident lawyer quickly, fresh evidence may still exist, such as skid marks and damaged infrastructure. Bent guardrails and knocked-down road signs can indicate the truck driver lost control.
Video Footage
More than likely, the accident occurred in an area where there was at least one surveillance camera. The wreck might have happened near a convenience store with a camera mounted on the outside pointed toward the road. It can have been near an office building with a camera in the parking lot.
Your truck accident attorney can request the footage from whatever cameras were nearby. If one of them captured the accident, that can prove you weren’t to blame and deserve the full compensation you’re seeking.
Phone Records
Your attorney’s investigation can show the truck driver drifted out of their lane, possibly due to a distraction such as talking or texting on their phone. They can request the driver’s phone records to see if they used the phone when the accident occurred, significantly strengthening your case.
EDR Data
Many trucking companies equip their vehicles with a device known as an event data recorder (EDR), commonly referred to as a “black box.” The EDR provides a wealth of information, such as the speed at which the truck was traveling, whether or not the driver applied the brakes, and how critical components of the truck operated when the accident happened.
A proficient truck accident lawyer can obtain crucial information by issuing a subpoena to the trucking company. This legal measure compels the company to turn over Event Data Recorder (EDR) data, ensuring that all necessary information is accessible for a thorough evaluation of the case.
Documentation
Keeping thorough documentation of your medical treatment, lost income, property damage, and other accident-related expenses will be essential. Your attorney can ensure they have that information to calculate the total value of all your damages.
Steps To Take When You Receive Your First Offer From the Insurance Company
Hopefully, we’ve convinced you not to accept any insurance company offer before hiring an attorney. That will begin a series of steps that will significantly impact the outcome of settlement negotiations. Here are just a few of those steps.
Share Detailed Information
The most important thing you can do is give your truck accident lawyer all the details regarding the wreck. Tell them the injuries you sustained, the property damage that occurred, and all other relevant information. The more transparent you are, the more effective representation your truck accident lawyer can provide.
You’ll then work with your truck accident lawyer to organize your documents. Your attorney will likely categorize the evidence they’ve obtained and all relevant paperwork. The more organized your case, the better your attorney’s chances to obtain a fair settlement offer.
Let Your Truck Accident Lawyer Handle All Communications With the Insurer
Again, many insurance companies aren’t above using some questionable (some will call them shady) tactics to minimize or deny your compensation. The adjuster assigned to your case will probably want to ask you some questions regarding the wreck. If you agree to speak with them, that can be a mistake.
The reason is that insurance adjusters are notorious for asking misleading questions. They design these questions so there’s only one way to answer – to assume at least some blame for the accident. The adjuster will ask to record your conversation and then use your answers against you.
An experienced truck accident attorney can keep this from happening. They know all the games insurers try to play and can protect your rights.
Your lawyer will prevent you from making any unintentional statements that can jeopardize your case. Simply direct all insurance company correspondence to your legal representative. They’ll focus on your case so you can focus on your recovery.
Prepare for the Counteroffer
After you receive the low-ball first offer from the insurance company for a truck accident, your lawyer will make a counteroffer. They’ll do this after meticulously analyzing every detail of the original offer, assessing whether or not it comes close to paying for your medical bills, property damage, lost income, and future costs.
Upon identifying all the shortcomings, your attorney will strategically craft a counteroffer that significantly improves upon accurately reflecting your damages.
Be Patient
While we understand you want a fast resolution to your case, it’s essential to understand that negotiations can take time. We know your patience might be running thin due to your mounting expenses. But trying to rush the process will be a mistake. If you accept an unfair offer, you’ll be responsible for all the remaining expenses once the settlement money runs out.
Remember to remain patient and steadfast throughout the entire process, understanding that your truck accident attorney is actively working with dedication and experience to diligently navigate the complexities of your case and secure the best possible outcome on your behalf.
Stay Informed
Ensure your truck accident attorney keeps you updated on settlement negotiations. Tell them you want to know their strategies and ask for guidance on any decisions that require your input. Maintaining open communication with your attorney will assure you that negotiations are proceeding in the right direction.
A Skilled Truck Accident Lawyer Is Waiting To Hear From You
Please don’t go it alone and accept the first offer from the insurance company for a truck accident. If you do, that can mean financial misery for the rest of your life. Let a personal injury attorney work to help secure your financial future.