Truck Accident Case Settlements

One may think that a truck accident that is clearly the fault of the truck driver will result in an easy path to recovery for the injury victim. In one sense, this is true: in cases where it is clear the truck driver was the primary or a contributing cause to a truck accident, the trucking company or (more often) the truck company’s liability insurer will usually approach the injured victim soon after the crash and offer the injury victim a cash settlement. The injury victim needs to be on guard and alert, or else this may result in the victim suffering even further “injury.”

What is a Truck Accident Case Settlement?

Settlements are common in civil and criminal suits. Because it is cumbersome, expensive, and time-consuming to try every case – and the outcomes of those cases that are tried can be hard to predict – parties often have an incentive to settle their differences through a case settlement. In a case settlement, the following elements are usually present:

• The injured plaintiff will waive his or her right to file a lawsuit and seek additional compensation from the at-fault party and (in some cases) other third parties that could be sued in return for accepting the at-fault defendant’s offer of monetary damages;
• The at-fault defendant offers and (if accepted) tenders to the plaintiff a specific sum of money.

Settlements are beneficial to injured plaintiffs because the injured plaintiff receives compensation for his or her injuries, and does so much more quickly than he or she typically would if he or she proceeded to trial. However, the compensation he or she receives from the at-fault defendant may not be as high as the plaintiff would like to receive. Also, the plaintiff may be unable to file a lawsuit or bring the matter back before the court if it is discovered that the victim’s injuries are significantly more serious and costly to treat than he or she initially believed.

Settlements can also be beneficial to defendants. Most settlements do not include any stipulation by the defendant that he or she was actually at fault, which may be helpful in other related lawsuits if multiple injury victims are all bringing their own suits against the defendant. The defendant is also able to save money by not only tendering an offer that is less than the amount originally sought by the plaintiff but in also not having to pay legal fees related to a trial (which can run in the hundreds of thousands of dollars, in some cases).

Be Careful About Accepting a Truck Accident Case Settlement

As an injury victim, you may be tempted to accept a settlement offer made by the truck driver or truck company insurance carrier so that you can obtain your monetary compensation quickly and “move on” with your life. This can be a dangerous and costly mistake. Not only will you almost certainly waive important legal rights and protections, but accepting the first settlement offered will typically mean you receive less compensation than you might otherwise receive. Remember that the truck company’s insurance carrier is focused on one thing: Resolving your claim against its client as quickly and as cheaply as possible.

Getting the Most Out of Your Truck Accident Case Settlement

Individuals who are able to obtain some benefit from their truck accident case settlements will typically:

• Understand the facts of their truck accident, including who caused the crash and who the responsible parties are. It is also helpful to know what facts about the case are in their favor and what facts suggest that they themselves might be at fault.
• Know their “bottom line.” The “bottom line” for a truck accident injury victim is the amount of money below which the victim will not accept as it would not fairly compensate the victim for his or her injuries. A settlement may not fully compensate a victim for his or her pain and suffering or lost future wages, but it should certainly pay for the medical treatment, lost wages, and certain other expenses that the victim incurred (assuming, of course, that the truck driver was completely at fault).
• Be able to persuade the other party when the settlement offered is not sufficient. This is where most injury victims who “go it alone” fail and where an attorney can be most helpful. If you are not able to persuade the insurance carrier’s experienced legal team that their settlement is not sufficient and that you deserve more for your injuries, settlement negotiations will break down and your only recourse will be to proceed with a trial.

If you or a loved one has received a settlement offer following a truck accident, contact Stern Law, PLLC right away for help. We will review your case as well as the proposed settlement and help you decide whether the settlement is in your best interest or whether more favorable terms should be demanded. Call us for help with your settlement negotiations at (844) 808-7529.