What if the insurance co. offers a settlement for my truck accident? If the insurance co. offers a settlement for your truck accident, do not accept it until you have consulted with a Chicago truck accident lawyer.
An attorney can investigate your truck accident claim and negotiate on your behalf to get fair compensation.
Why Accepting a Claim Right Away Does Not Benefit You
Whether it is a truck company trying to avoid a hit to their bottom line or an insurance company looking to pay as little as possible, they are motivated to protect their own interests and pay as little as they can get away with. Insurance companies operate in this space every day, so they are familiar with the tactics that work for them. An experienced lawyer does, too, and can intervene for you.
For example, let’s say you make an offer on a house. While the value of that house is set at a certain amount, and the realtor is asking for a certain amount, you are motivated and likely to offer less when opening negotiations.
his is because you are in a position where you are spending money. If the roles were reversed, you would not want to accept such a low offer.
Accepting a settlement could also mark your case as essentially closed before we have a chance to review everything and determine if there are other claims to be pursued.
Their initial assessment of damages could also be less than what we or the court find it to be. We need time to check for all the damages in truck accident cases like yours.
Things We May Find that the Insurance Company May Ignore
According to Illinois law in § 625 ILCS 5/Ch 18C Sub 4 Art IX, motor carriers, or trucks as they are commonly referred to, are required to have insurance that can cover all damages resulting from an accident.
While they may have the ability to cover all the damages, that does not mean they will find all the damages or initially offer to pay for everything they see and do not want you to know about.
Often, we can examine the causes of the accident. These can indicate some form of federal trucking regulations violations, like improper maintenance of trucks or truck driver fatigue from working too many hours at once.
This means we have more penalties to consider and possibly a higher settlement sum once everything is taken into account.
It is not unheard of for truck drivers to cause drunk driving truck accidents as well. This could even lead to suing whoever served them alcohol under Illinois’ dram shop liability under § 235 ILCS 5/6-21.
In short, the insurance company wants you to accept their settlement offer so that you miss out on more compensation out of their pocket.
Understanding How Insurance Companies Operate
You want to recover from injuries and recover your financial losses sooner rather than later, and the insurance company wants to get your claim settled as quickly as possible, too.
This sounds like a great deal, right? This can end up hurting your settlement because they are banking on you not understanding how insurance companies devalue your claim after a truck accident.
They will try to beat you to the punch by contacting you before you have a chance to reach out to us. They will likely record whatever you say in your conversations with them, ask you leading questions, and pressure you into accepting whatever they offer right then and there. We have seen them try these tactics before, and they will likely always try them.
Even after you hire us, they will still fight the claims. They will try to poke holes in the liability claims, access your medical records to blame your injuries on pre-existing conditions, and generally prolong the whole process by being disagreeable.
Consult with us early and often. Do not make statements that we have not approved, and be patient. We know their tactics.
Steps to Take if the Insurance Co. Offers a Settlement for My Truck Accident
After a truck accident, receiving a settlement offer from the insurance company can feel overwhelming or infuriating, depending on the initial offer. It’s important to proceed carefully to protect your rights and ensure you receive fair compensation.
Understanding the proper steps to take can make a significant difference in the outcome of your claim and your recovery:
- Contact us before they attempt to offer you a settlement following your truck accident, so we can advocate on your behalf.
- Do not disclose any information or release any records that we have not advised you to.
- If the insurance company reached out to you with a settlement for your truck accident offer before you talked with us, end the conversation and contact us as soon as you can.
- Let us lead negotiations with the insurance company so that they can finally offer you what you deserve.
- Ask us any questions before making big decisions, so you’re well-informed about the entire process.
- After negotiations, and once the insurance company finally offers a fair settlement, feel safe to accept it, knowing you trusted an experienced truck accident lawyer.
Things may take longer than you would like in an ideal world. This is especially true if we have to take your case to trial. We want justice for you, and we want to ensure it is done correctly and thoroughly.
Avoid the defendant’s tactics and trust our strategy to get the results you deserve.
Get in Touch with a Truck Accident Lawyer to Negotiate Your Settlement with the Insurance Co.
It is our full-time job to engage in lengthy, challenging negotiations on your behalf. Therman Law is available to take your call and fight for the compensation you deserve.
When you find yourself confronted with a settlement offer after a truck accident, don’t face it alone. Choose Charlie.