Should I Accept a Settlement Offer?
August 28, 2019
When a truck accident occurs, victims are typically able to secure a higher payout compared to a passenger car accident. This is due to the nature of truck accidents. Truck accidents tend to cause more vehicular damage, severe injuries, and fatalities. To settle a claim, insurance companies tend to immediately offer a settlement. Most victims are unaware of whether they should accept the first settlement offer. This choice is dependent on several factors. However, it is encouraged that victims seek legal counsel from a lawyer before deciding. A truck accident lawyer will help represent a victim’s best interests by obtaining maximum compensation.
Important Factors Relevant to the Settlement Offer
Insurance companies offer a settlement quickly to avoid taking a case to trial. At first glance, victims might find this first offer attractive. However, it is often not the maximum amount of compensation that they can obtain. In order to determine whether a settlement offer is fair, one should consider important factors related to the accident. Relevant factors might include the victim’s losses, ability to win at trial, and whether they are partially at-fault.
Victims are encouraged to determine the value of their case before accepting a settlement offer by examining their losses. Truck accidents tend to cost victims expensive medical bills, treatment, lost wages, and vehicular damage. These expenses can add up, leaving a victim little money from the settlement offer. In order to determine whether the offer is fair, the victim should assess whether the settlement offer will compensate for these expenses.
Victims should also assess whether they will win at trial. If the insurance company and the victim cannot come to an agreement on a settlement offer, the case may go to trial. This might hold consequences for victims with little to no evidence of the truck’s liability. This is something a victim should consider when negotiating a settlement offer.
What to Do After Receiving a Settlement Offer
Insurance companies tend to offer settlements early after an accident to avoid paying fair compensation. These companies expect that offering a settlement will prevent the victim from seeking legal counsel. After the victim signs release forms, they are unable to seek legal advice for their case. This often leaves victims with less compensation than they deserve. It is encouraged that victims seek legal counsel immediately following a truck accident. A lawyer will help the victim obtain maximum compensation for vehicular damage, injuries, lost wages, and pain and suffering.
Baltimore Truck Accident Lawyers at LeViness, Tolzman & Hamilton Advocate for Truck Accident Victims
If you or a loved one was the victim in a truck accident, please consider contacting a Baltimore truck accident lawyer at LeViness, Tolzman & Hamilton. Our lawyers work tirelessly to ensure that our clients receive the best possible legal counsel. If you are interested in speaking to one of our lawyers, contact us online or call us at 800-547-4LAW (4529) for a free consultation.
Our offices are located in Baltimore, Columbia, Glen Burnie, and Towson, allowing us to represent truck accident victims in Maryland, including those in Anne Arundel County, Baltimore County, Carroll County, Harford County, Howard County, Montgomery County, Maryland’s Western Counties, Prince George’s County, Queen Anne’s County, Southern Maryland, and the Eastern Shore, as well as the communities of Catonsville, Essex, Halethorpe, Middle River, Rosedale, Gwynn Oak, Brooklandville, Dundalk, Pikesville, Nottingham, Windsor Mill, Lutherville, Timonium, Sparrows Point, Ridgewood, and Elkridge.
