Q: How do I know if an insurance company’s settlement offer for my truck accident case is fair?
When truck accidents result in injuries, it’s not uncommon for the transportation company’s insurance carrier to make a settlement offer. Before you agree to it, ensure that you've secured the best possible recovery.
Low Settlement Offers
Insurance companies want to settle accident claims for as little money as possible, since every dollar they pay to you comes directly out of their profits. If you're hurt in a commercial truck accident, the fleet company's insurance provider will likely attempt to rush your settlement,
This is almost certainly not in your best interest, largely because your condition may change during the months following your accident when:
- You weren’t initially aware of the full extent of your injuries.
- Your treatment needs have increased as your injuries worsened over time.
- The psychological strain caused by the accident is worse than you initially realized, and it requires expensive professional treatment.
Determining the Value of Your Claim
When you have professional legal representation, the insurance company faces the risk of a court trial. Its representatives know that if your accident case is decided by a judge or jury, the carrier risks losing a lot of money on the claim. While your attorney can be a valuable resource in helping you evaluate the insurance company’s proposal, the final decision to accept or reject a settlement offer is yours alone.
Your attorney will likely consider several factors when evaluating your claim, including:
- The medical expenses you’ve already incurred and any anticipated bills.
- Income you’ve lost, and earnings you’re expected to miss in the future.
- Past and future pain, suffering, disfigurement, and disability.
Accepting a Settlement Offer
Once you’ve accepted a settlement offer, you can’t ask for more money later, no matter how much you may need or deserve additional compensation. This means that you need an experienced truck accident attorney to ensure your recovery is sufficient to cover all of your future medical expenses and lost income. To learn more, contact the law offices of Steve M. Lee, P.C., by using the form on this page.