How Do You Negotiate a Truck Accident Settlement? | Call 24/7
Even though truck accidents are usually over in just a matter of seconds, the road to recovering compensation for the losses incurred is complex and frustrating. If you’ve been injured in a truck accident, the carrier’s insurance provider will likely contact you to discuss a settlement offer.
While it’s legal for truck accident victims to discuss and accept an insurance settlement without the presence of a lawyer, it might not be the best decision. We recommend hiring a legal team to evaluate the specifics of the accident, establish liability, and negotiate with insurance adjusters.
Negotiating a Truck Accident Settlement
Trucking companies usually have a team of lawyers and insurance companies who have spent years perfecting the art of underpaying accident claims. If you opt to represent yourself in the settlement negotiations, you may have a hard time trying to recover the compensation you deserve.
The lawyer representing the insurance providers and the trucking company will go as far as requesting recorded statements and your medical records, all to get you to share liability for the truck accident and devalue your claim.
In the end, you’ll end up getting financial compensation that won’t be enough to cover all the losses and damages you’ve incurred. Here is how you should go about negotiating a truck accident settlement to recover the best compensation possible.
Why Should You Hire a Truck Accident Lawyer?
As a truck accident victim, having a lawyer by your side goes a long way in improving your odds in the settlement negotiation process. If you’re involved in a car accident, you know who to go after for compensation. However, the liable party may be unclear when you’re injured in a truck accident.
In truck accidents, multiple parties may be at fault, including the truck driver, trucking company, the truck manufacturer, parts manufacturer, and even the mechanic who serviced the truck. In most cases, you’ll find out that these parties have different insurance providers, complicating the settlement negotiation process.
When you hire a truck accident lawyer, they’ll investigate the case thoroughly and determine all the liable parties. This way, you can relax and focus on recovering from your injuries.
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How Do You Calculate Your Damages After a Truck Accident?
Before negotiating a settlement with the insurance adjusters, you must determine the right amount of compensation. The Federal Motor Carrier Safety Administration (FMCSA) regulates minimum insurance coverage for trucks. However, truck accidents usually result in severe injuries to the passenger vehicle’s occupants. At times, the minimum insurance coverage isn’t enough to cover all the damages and losses incurred by the victim.
A truck accident lawyer will consider all the factors involved in your case and then come up with an amount that will be enough to cover all the losses and damages. Truck accidents usually result in both economic and non-economic damages, including:
- Past and future medical expenses
- Lost wages
- Lost earning potential
- Transportation costs and other expenses
- Pain and suffering
- Loss of consortium
- Loss of enjoyment of life
- Scarring and disfigurement
- Emotional distress
What Evidence Can Prove Negligence?
You must conduct a thorough investigation and gather relevant evidence that proves negligence to recover full compensation for your truck accident claim. In case you’re not severely injured in a truck accident, you may document the accident scene by taking pictures and videos of your injuries, your vehicle damage, and the truck’s damage.
If you cannot gather such evidence, you can leave the work to a lawyer. Your lawyer can collect crucial evidence needed for settlement negotiation, including:
- Traffic camera footage
- Police reports
- Company logbooks
- Accident reconstruction data
- Black box data
- Medical reports
- Witness statements
- Vehicle repair estimates
- Records of past company violations
- Dashboard camera details
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When Do You File an Insurance Claim?
After being involved in a truck accident, you need to file an insurance claim right away. This claim should be thorough, clear, complete, and accurate. It’s worth noting that you may not have a lot of time to file an insurance claim. Therefore, you need to move fast before time elapses and your claim is deemed invalid.
How Long Do Truck Accident Claim Negotiations Take?
Negotiating a truck accident settlement takes several months. This can easily feel like a lifetime, especially if you’re waiting for the insurance company to cover your medical bills and vehicle repairs. Regardless of how long it takes, you must remain patient and keep your interactions with the insurance providers professional.
Also, do not be pressured by the insurance adjusters to accept a fast settlement. Before taking payment, you should discuss it with your lawyer to avoid being low-balled. You should only accept a settlement that is enough to cover your medical expenses, vehicle damage, and other losses incurred.
