Truck accidents and insurance companies

Truck accidents and insurance companies

Commercial freight trucks tower high over the average car and can weight over 80,000lbs. Needless to say, being in an accident with one of these trucks can be an extremely frightening experience. The aftermath of a truck accident can also be very difficult to deal with. Severe injuries can make it impossible to return to work or even complete daily activities. Meanwhile, your medical bills may be piling up, adding financial worries to an already harrowing situation. Unfortunately, it is during such times that insurance companies contact victims of commercial freight truck accidents. Knowing that you are very likely facing financial difficulties due to your injuries and medical expenses, insurance companies will offer you the lowest settlement possible in order to reduce their own financial losses. Although you may be in dire need of money, it is actually to your benefit to wait and reach out to a personal injury attorney. A personal injury attorney can determine whether or not the insurance company’s offer is reasonable, and if it is not, they can secure the full settlement you are entitled to.

Accepting settlement

Accidents involving commercial freight trucks leave victims with serious injuries that may take some time to recover from. During your recovery, however, billing cycles continue. And now, in addition to your regular bills like rent, utilities, and insurance, you have medical expenses to cover as well. Because of your current financial plight, it may seem like a good idea to accept an insurance company’s settlement offer in order to gain some control over your situation. However, it is important to consider the implications of accepting any initial settlement offer.

Yes, it is more than likely that you will receive the settlement money faster if you accept an insurance company’s initial offer. This is because a vast majority of insurance companies are required to deliver settlement funds to you within a short timeframe after you accept their offer. However, what you might not be aware of is that once you accept any sort of settlement from the insurance company, you forfeit the right to any further monetary compensation now and in the future. After providing you with the settlement funds agreed upon, the insurance company is no longer financially liable for the cost of your injuries. The money you receive may provide immediate financial relief, but later on you may find that it is not nearly enough to see you through your recovery. Unfortunately, by accepting the initial settlement money, you are no longer entitled to ask for additional compensation.

Consulting with a personal injury attorney

Although the need to secure financial help may be urgent after a commercial freight truck accident, your best option is to consult with a personal attorney and refrain from accepting any offers made to you by an insurance company. It may seem like you are only worsening matters by not taking action, but a personal injury attorney will carefully look into your case and determine the best course of action in order to secure full and fair compensation for you. A few key areas that a personal injury attorney will examine are:

Injuries and medical expenses—while minor injuries may be easy to calculate, more severe injuries from a truck accident need to be properly evaluated. This is necessary in order to determine the amount of medical treatment needed, recovery time, and whether the injuries have affected other aspects of your life.

Insurance policy—many commercial drivers are required to have high insurance policies that provide coverage for accidents and any resulting injuries. However, insurance companies do not like to pay out and will offer you the lowest settlement possible. A personal injury attorney can look into the full terms of their policy and establish a fair settlement amount for your injuries.

Liable parties—a personal injury attorney will investigate every aspect of the accident in order to determine whether other parties are to be held accountable for the accident. These can include the driver, the trucking company, loading company, or mechanic. If any of these entities contributed to the accident in some way, they may be held liable and form an integral part of your overall compensation.

Accepting any settlement offer from an insurance company that covers commercial drivers requires a thorough understanding of what constitutes fair compensation, what details can affect the settlement amount, insurance policy limitations, and many other issues. Consulting with a personal injury attorney is your best option for securing a fair financial settlement. If you are currently seeking a personal injury attorney, contact Novo Law Firm PC. Our attorneys have years of experience in handling cases involving commercial freight truck accidents and will make sure you get the compensation you’re entitled to.



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