Your First Insurance Offer After a Truck Accident: Key Steps and Considerations

Being in a truck accident is a life-altering experience. The physical pain, emotional stress, and mounting bills can leave you feeling helpless. Then, the insurance company steps in with their first settlement offer, and you’re left wondering: “Is this fair?” “Should I take it?” 

It might seem tempting to accept the first offer just to get some relief, but doing so could mean settling for far less than you deserve. At Rosengard Law Group, we’ve seen too many people shortchanged by insurance companies. This guide will help you understand the key steps and considerations when facing that first offer so you can protect yourself and get the compensation you truly need to rebuild your life.

What You Need to Know About Initial Settlement Offers After a Truck Accident

The first settlement offer from an insurance company is rarely, if ever, a fair amount. Insurance adjusters often lowball the initial figure, hoping you will accept it quickly. And, in many cases, people are willing to accept the offer considering how long it takes to settle a truck accident claim. 

But here’s what you need to keep in mind: The adjuster’s job is to save the insurance company money, not to ensure you get what you deserve. While the offer might look appealing, especially when you’re buried under medical bills with no end in sight, accepting it could leave you struggling to cover future expenses related to the accident. 

Understand the Offer and Review It Carefully

When you receive the settlement offer, don’t rush. Take the time to read through it carefully. Look beyond the dollar amount. What exactly is being covered? Are medical expenses, lost wages, and non-economic damages included? 

Insurance companies often try to settle quickly without accounting for long-term costs like ongoing medical care or reduced earning capacity. When reviewing the offer, keep in mind that you generally won’t be able to reopen your personal injury case or otherwise ask for additional compensation if you settle now. 

Never Trust the Insurance Company’s Calculations

The insurance company may present its offer as if it’s based on thorough calculations. Don’t trust these numbers blindly. Their math often minimizes your pain and suffering or overlooks key damages entirely. For example, they may underestimate the cost of future treatments or fail to consider how the accident has disrupted your daily life. 

They might also use complex language or charts to make the offer seem precise but don’t be fooled. These calculations are designed to save the insurance company money—not to ensure your recovery and financial stability. A good rule of thumb is to always approach the insurer’s numbers with skepticism and get them reviewed by a trusted truck accident lawyer. 

• Fact: According to a study published by the U.S. Department of Transportation, the average cost of a non-fatal injury after a truck accident is over $195,000. 

Don’t Fall Prey to Insurance Company’s Tactics

Insurance adjusters are trained negotiators. They might act like they are on your side, but their goal is to settle for as little as possible. Common tactics include pressuring you to accept quickly, claiming this is their “best and final” offer, or suggesting you don’t need a lawyer. 

Without legal guidance from a lawyer, it’s easy to miss hidden damages or fall short in negotiations. Don’t let their strategies catch you off guard—stand firm and seek legal advice before making any decisions.

Calculate Your Damages

Before responding to any offer, you should take your time to calculate the full scope of your damages. “But how should I do that?” you might be wondering. 

Start by adding up your medical expenses, including hospital bills, follow-up appointments, physical therapy, and any future treatments or bills you may need. Then, consider your lost income, not just for the days you have already missed but also for any reduction in your ability to work going forward. 

When calculating damages in personal injury cases, people often overlook their non-economic damages. Don’t make that mistake and consider the emotional and physical toll the accident has taken on your life. 

And don’t forget about property damage. This category of damages should take into account any vehicle repairs or replacement costs. You need a complete picture of what the accident has cost you—both now and in the future—to make an informed decision about accepting or turning down the settlement offer. 

Seek Advice from a Lawyer

Truck accident claims are complicated, and insurance companies have the upper hand if you face them alone. Working with a lawyer can level the playing field. A lawyer can review the offer, calculate your damages accurately, and negotiate on your behalf to secure a more favorable deal. With professional support, you are far more likely to get a settlement that truly meets your needs.

Received a Settlement Offer and Not Sure What to Do? We Can Help

Facing a first settlement offer after a truck accident can feel overwhelming, but you don’t have to handle it alone. Let Rosengard Law Group guide you through this process to ensure you get the compensation you deserve. We can review the offer thoroughly and advise you on your options. Fill out a contact form on our website or call (856) 284-6446 to request a free case evaluation.