Accepting a Truck Accident Settlement in St. Louis County
When presented with a settlement offer following a truck accident, you may be feeling excited about the prospects of ending your claim early while obtaining a substantial amount of compensation in the process. Although this may sound enticing for most victims, you should take the time to fully understand what it means to accept a settlement offer. Speak with a St. Louis County attorney for more information regarding the process of settling a claim, or to learn if a settlement offer merits an acceptance.
Options Available for a St. Louis County Truck Accident Settlement
There are various options available for a truck accident settlement in St. Louis County. The most common option is a full and final settlement for one lump sum. This lump sum covers all of the victim’s medical bills, attorney fees, and any money that would go directly to them. Victims also have the ability to structure their settlement. By structuring a settlement, the victim would get a portion of their settlement at a specific time, meanwhile, the bulk of their money would be gaining interest.
For example, although they may receive $100,000 for their case, that amount could grow substantially more over time with their money being protected in an investment account. Other types of settlements involving wrongful death and minor settlements require court approval and could be far more complicated to settle.
Reasons for Settling a Case Instead of Going to Trial
Truck accident victims may choose to accept a settlement offer instead of taking a case to trial for a variety of reasons. One of the most common reasons is in regards to finances. For some people, they are in no position to deny a settlement award due to their financial situation.
Another reason why victims elect to accept a settlement instead of going to trial is the level of risk that comes with taking a claim to court. It is not uncommon for a case to take tens of thousands of dollars just to get it to court. This does not even include the cost of experts to testify at trial. When taking this into consideration, some individuals choose to settle their case rather than pay the risk a jury of 12 deciding their fate.
Cons of Accepting a Settlement Offer
There are a variety of reasons why someone might refuse to take a settlement offer and choose to go to trial instead. The most common reason is that the insurance companies make a lowball offer, hoping that the plaintiff needs the money and would take whatever they are offering.
Another reason someone might refuse an offer is that they want to make an example of the defendant. This is a very common reason and is fully acceptable. For example, if a trucking company is repeatedly getting in crashes and offering lowball settlements, some people may want to make a statement by making the trucking companies pay for their repeated failures to correct their safety issues. This is completely acceptable, and an injury lawyer not willing to abide by the victim’s wishes should not be taken seriously.
Information to Present to an Attorney
Knowing what to take to an initial consultation with a St. Louis County truck accident lawyer could be confusing. Instead of overcomplicating the process, you should bring everything that you have and let the attorney decide what is important. Some specific information you should take with you are any insurance documents you have, including documentation for your insurance company and the other driver’s insurance company, photographs and videos of the scene, your vehicle, their injuries, and any other correspondence you receive from other parties such as attorneys, insurance adjusters, or medical providers.
Having a list of the doctors that you have visited for medical treatment is also important. With this information in hand, an attorney could provide you with the guidance necessary for determining the true value of a truck accident claim, compare that with any settlement offers that have been made, and help you figure out whether to accept a settlement. To learn more, be sure to schedule a consultation today.