Certain decisions that people make after collisions can have negative consequences. In some cases, people make decisions that can have lasting implications regarding their legal and financial rights. They might agree not to report the collision to local authorities or might make statements that implicate they were at least partially to blame for the incident.
After a crash caused by a commercial truck, the people in the passenger vehicle may face a relatively complex and thorough investigation process. Even in cases where fault is readily apparent, people involved in a semi-truck crash may struggle to obtain the financial support that they deserve given the losses they sustained.
All too often, those negotiating for compensation after semi-truck collisions make the same mistake that may limit what they ultimately recover.
People often settle too early
A crash caused by a commercial truck is more likely than the average passenger vehicle collision to cause significant injuries. Injured vehicle occupants and those who lost loved ones may have grounds for an insurance claim. Frequently, they agree to settle too early in the process.
Settling prematurely may deny an injured person the compensation that they actually deserve. The insurance requirements are substantially higher for commercial vehicles. Most 18-wheelers have a minimum of $750,000 in liability coverage, although some commercial policies provide even more coverage than that.
That is far higher than the roughly $35,000 in coverage available from a driver with a minimum-coverage policy that complies with state law. Once the party pursuing the claim accepts a settlement offer, they generally do not receive any additional compensation.
Settlements provide lump-sum reimbursement for all relevant losses and absolve the insurance company of any future financial liability. Settling too soon can deprive people of the full amount of compensation they might otherwise receive.
Insurance professionals often offer less than the claimant deserves in an initial settlement offer. People may need to counter a low settlement proposal with a more reasonable figure based on their verifiable losses.
People dealing with the aftermath of semi-truck collisions may need help estimating their losses and negotiating with insurance professionals. They may also need insight into when to walk away from negotiations because the insurance company isn’t cooperative.
Securing appropriate assistance when dealing with the aftermath of a semi-truck collision can help people obtain the best possible outcome. People who settle too early often eventually recognize that they have significant uncovered losses that they cannot recoup.