The Insurance Company Offered a Truck Accident Settlement—Should I Take It?

Were you hurt in an eighteen wheeler crash in South Florida? You need compensation to cover your damages, including medical bills, lost wages, and pain and suffering. Truck accident litigation is relatively uncommon. The Bureau of Justice of Statistics (BJS) reports that fewer than three percent of tort cases go to trial. Many claims are settled. If you were offered an insurance settlement after a truck accident, you may be wondering: Should I accept it? The answer depends on many case-specific factors. Here, our West Palm Beach truck accident attorney highlights the considerations for whether or not you should accept a settlement from an insurance company.

Consideration #1: What is the Value of Case? 

Not sure whether or not you should accept a truck accident injury settlement? It is normal to feel uncertain, even confused. The first thing you need to consider: What is the actual value of the case? Indeed, one of the most important factors to consider before accepting a settlement is the total value of your case. In Florida, truck accident victims have the right to seek compensation for medical expenses, lost wages, diminished earnings, and pain and suffering.

 Consideration #2: How Favorable is the Settlement Offer? 

It is essential to assess whether the settlement offer is fair given the circumstances of your truck accident. A fair offer should adequately cover all your damages, including future damages and non-economic losses. The insurance company’s goal is to settle for as little as possible—and that means that their initial offer may not reflect the true extent of your damages.

 Consideration #3: Is it the Initial Settlement Offer? 

Is the settlement offer you receiving the initial offer from the insurance company? Did they send it unprompted? Are they basing it on a number you provided or their own figure? You should take a skeptical approach. Many insurance companies start with a low initial settlement offer in hopes that you will accept quickly. If this is the first offer you have received, it is normal to be uncertain about whether to take it. You have the right to negotiate for additional financial compensation.

 Consideration #4: Have You Consulted With an Attorney? 

Truck accident claims are notoriously complex. You do not have to navigate the settlement negotiation process on your own. Before accepting any truck accident settlement in Florida, it is always a good idea to consult with an experienced attorney. Your lawyer can review your case, evaluate the settlement proposal, and develop a plan of action to seek additional compensation.

Schedule a Free Consultation With Our West Palm Beach Truck Accident Attorney Today

At Pike & Lustig, LLP, our West Palm Beach, FL semi-truck accident lawyer is a tireless, aggressive advocate for justice. You do not have to take on the legal claims process alone. If you have any questions about truck accident settlements, we are here to help. Contact us today for a no cost, no obligation case review. We handle truck accident settlement negotiations throughout South Florida.

Source:

bjs.ojp.gov/content/pub/ascii/TCILC.TXT#:~:text=*About%20three%2Dquarters%20of%20the,were%20disposed%20within%2014%20months.