Why You Shouldn’t Accept the First Settlement Offer in a Truck Accident Case
If you were involved in a truck accident in Kentucky, you may be feeling overwhelmed. You are likely dealing with substantial medical expenses, lost wages, and pain that is disrupting your everyday life. When an insurance company reaches out with a settlement offer, it can feel like a relief to get things over with. However, the truth is that it is not advisable to accept the first settlement offer in a truck accident case. Accepting the first settlement offer after a truck accident is usually a big mistake that could cost you thousands or even hundreds of thousands of dollars.
Below, we explain why you shouldn’t accept the first settlement offer in a truck accident case.
Insurers Want To Pay as Little as Possible
Insurance companies are businesses. Like any other businesses, these companies are focused on protecting their profits. Insurance adjusters aim to pay as little as possible. The first settlement offer from an insurance company is usually lower than what your claim is really worth, and this is especially true in truck accident cases. When an insurance adjuster reaches out to you quickly after a truck accident, they are hoping you are desperate enough to accept the offer without negotiating for a fair value.
Unfortunately, once you accept the offer and sign a release, you lose the right to pursue any additional compensation later, even if your injuries worsen. For example, suppose you accept the first offer and your back injury worsens over time, resulting in surgeries. In such a case, you may have to cover those costs out of pocket.
Truck Accident Cases Are Complex
Truck accident cases are not like other motor vehicle accident claims. These cases are more complicated. Often, truck accidents involve multiple parties, such as the truck driver, the trucking company, a maintenance company, a cargo loading company, or even the truck manufacturer. If more than one party is to blame for your accident, the comparative negligence rule requires that they all compensate you.
Accepting a quick settlement offer might mean you’re only getting compensation from one liable party while the other responsible parties walk away without paying their share. A thorough investigation is necessary to identify all liable parties and ensure you don’t leave money on the table.
You Might Not Know the Full Extent of Your Injuries
Another major reason not to accept the first settlement offer in a truck accident case is that you may not yet understand the full extent of your injuries. Some truck accident injuries, such as traumatic brain injuries, back injuries, and internal damage, take weeks or months to fully reveal their long-term consequences. If you settle your case too soon, you may only recover compensation for your initial medical expenses and lost wages, leaving you without financial support for future expenses such as future medical costs and lost future income.
How an Attorney Can Help
A skilled Kentucky truck accident attorney can evaluate and investigate your case, gather crucial evidence, and negotiate with insurance companies to secure fair compensation. Your attorney can ensure all liable parties are held accountable and that your settlement reflects the full extent of your losses.
Contact a London and Southeast Kentucky Truck Accident Attorney
Our skilled London and Southeast Kentucky truck accident attorneys at Cessna & George Law Firm can help you recover the full compensation you deserve for your injuries and damages. Contact us today to schedule a consultation.
