Commercial trucking accidents can result in catastrophic injuries to victims in smaller passenger vehicles. For example, severe brain trauma and debilitating spinal cord injuries frequently occur. Victims need resources to help them avoid financial hardships in the wake of an accident, but many do not know how to acquire such resources.
Trucking companies are heavily insured, which helps them mitigate losses when their vehicles collide with other automobiles. One of the first ways insurance companies respond to valid accident claims is by offering to settle. They may make an offer of financial restitution, hoping to satisfy both the accident victim and the trucking company at the same time.
Before you decide to settle, study the pros and cons
Our attorneys recommend looking at the pros and cons of settling your commercial trucking accident claim to improve your understanding of what to expect. Some of these advantages and disadvantages include the following:
- Pro: You will probably receive your settlement faster than you would through litigation.
- Con: You may receive less compensation than you would by taking the case to trial.
- Pro: You will receive at least some compensation if you settle, whereas litigation success is unpredictable (you risk losing your case).
- Con: You may have to give up on taking further legal action in connection with your trucking accident.
- Pro: Your case will likely conclude relatively fast if you choose to settle your claim.
- Con: When negligence contributed to the crash, many victims feel that settling does not serve justice.
Although it is up to you whether to settle or see your claim through, many Albuquerque truck accident victims find counsel from an injury attorney helpful in making this decision. Legal advocacy empowers you to discuss vital details of your case with a knowledgeable professional. In turn, you can make well-informed decisions about how to proceed with your claim.
If you would like to read more about commercial trucking accidents and your legal options, we invite you to continue reviewing our website and blog.