What to Do After Receiving a Truck Accident Settlement Offer

After a truck accident, you may be surprised at how quickly the insurance company offers you a settlement. They offer settlements in the days and weeks following a crash hoping that accident victims will accept it. This is because the first settlement offer is not usually enough to fully cover the cost of your injuries and other losses. It usually is too soon to know whether some of your injuries are temporary or permanent and whether you will need future medical care, like surgery. Even if you learn that you need more compensation in the future, you cannot return to the insurer at a later date and ask for more. Below, our San Antonio truck accident attorney outlines what to do after receiving a settlement offer.

Examine the Settlement Offer 

Insurance companies offer accident victims lowball settlements for many reasons. They know the vulnerable position accident victims are in, and that they need immediate compensation for their medical bills and other expenses. They also want to protect their profits and pay as little as possible in settlements. Current law in Texas is that a verbal acceptance over the phone of a settlement offer by an insurance company on a personal injury or property damage claim is a binding agreement. It is always important to speak to a San Antonio truck accident attorney who can examine your settlement offer and help you determine whether to accept it.

When reviewing your settlement offer, a lawyer will first accurately evaluate all of your losses. These may include medical expenses, lost income, the level of pain and suffering you have endured, the severity of your injuries, loss of enjoyment of life, physical impairment, and more. This will help them obtain a fair estimate of the compensation available. A lawyer will also analyze evidence such as photographs of the crash and witness statements. This can disprove statements from the insurer indicating your level of fault and show that another party is to blame for your injuries.

Determine Full Damages Available 

There are some obvious losses you may require compensation for. These include medical expenses, modifications you made to your home to accommodate your injuries, any medical equipment you required after the crash, and loss of income. These are all known as economic damages because they have a concrete dollar value and are easy to calculate. However, there may be other damages available, as well.

For example, many people are unaware of how to calculate the level of their pain and suffering, loss of enjoyment of life, physical impairment, depression, or mental anguish after an accident. You may also not be aware of whether you qualify for punitive damages, which are not always awarded but can increase settlement amounts exponentially. A lawyer can advise on the full damages available in your case.

Determining Liability 

It is not uncommon for there to be multiple parties liable for a crash. These may include the truck driver, the trucking company, and third parties such as maintenance companies, manufacturers, cargo loaders, and brokers. It is important to identify all liable parties so you can understand how much each is liable for paying. A lawyer will conduct an investigation to determine liability for all involved parties. Never accept a settlement offer before understanding who is liable for your injuries, the full extent of your injuries and damages, and the amount of insurance coverage.

Our Truck Accident Attorney in San Antonio Can Review Your Settlement 

Before accepting any settlement offer, it is critical to speak to a San Antonio truck accident attorney. At the Law Office of Israel Garcia, our experienced attorney can ensure a settlement offer is fair and will cover the cost of your injuries and other losses. Call us now at 210-LAW-9999 or contact us online to schedule a free consultation and to get the legal help you need. All cases are handled on a contingency fee basis, so there are no out-of-pocket or upfront attorney’s fees or costs that you have to pay. Our clients never pay a penny until we win their case.