The Role of Insurance Companies In Tractor Trailer Accidents

Tractor-trailer accidents are usually traumatizing experiences. The sheer size and weight of these big trucks and trailers – often in excess of 71,000 lbs when loaded – create devastating crashes with passenger cars. Unfortunately, when these types of accidents occur, insurance companies are quick to seek a low-dollar settlement. This is not an accident, but purposeful conduct on the part of insurance companies or trucking companies to minimize the real harms and losses a victim has suffered. Truck accident insurance claims can be overwhelming for those involved. It is important to become familiar with the role of insurance companies in these situations. Understanding the role of insurance companies in tractor-trailer accidents is a crucial first step to getting the compensation you deserve.

In this blog, we break down the many aspects of insurance companies’ role in these types of cases.

Insurance claim with money on top

Understanding Insurance Companies and Personal Injury Claims

When it comes to personal injury claims, insurance companies play a leading role. They are responsible for handling claims and compensating for any losses or damages that may have occurred during the incident. Depending on the type of incident and where it took place, different types of policies will handle personal injury coverage. For example, auto insurance will cover personal injuries sustained in a car accident, while business or homeowners insurance will handle injuries due to hazards on a property. This leads to claims adjusters, who are responsible for inspecting personal injury claims to determine how much the insurance company should pay for the loss.

Have You Been In A Truck Accident?

The Attorneys of Stinson Law Group practice personal injury, business, and criminal defense law statewide in both Wyoming and Montana. If you’ve been involved in an accident and need the best truck accident lawyer, please contact us for a free consultation.

What To Expect From Truckers’ Insurance Companies

The relationship between a trucking company and its insurer is one of mutual benefit, but it’s important to understand that the 18-wheeler insurance company’s priority is to minimize the cost of truck accident insurance claims. The trucking company’s accident policy requires them to pay a premium for coverage, and in return, the insurer takes on the financial risk of incidents such as crashes or lost cargo. It’s crucial to keep in mind that as an individual, you are not their customer, but rather the trucking company is their client and the insurer is working to maximize their benefit, not yours.

The Insurer’s Objective

The primary objective of an insurer in a truck accident insurance claim is to minimize the payouts to remain profitable. The insurer aims to settle claims for the lowest possible amount to keep premiums affordable so that their customers– the trucking company– remain satisfied and continue paying for their insurance. To this end, the truck insurer will deploy multiple tactics to negotiate a settlement that they find favorable and not necessarily what the victim may deserve.

Withheld Information

One tactic insurers may use to reach a settlement that favors them is by withholding information about your claim. They may delay sharing information about similar payout amounts for accidents that are comparable to yours and your injuries or the compensation you’re entitled to. Insurers may rely on your lack of knowledge about the insurance industry to convince you to accept a lower settlement than you deserve. It’s important to seek legal advice to protect your rights and negotiate a fair settlement.

Fishing For Liability

One tactic insurers may use when trying to reach a settlement that favors them is to fish for liability by asking leading questions that may implicate you as the responsible party for the accident. They may use a friendly tone and try to get you to admit fault or say something that could be used against you later. This is why it’s critical to stick to the facts of the case and avoid making any statements that could harm your case. Having an attorney present during these conversations can help protect your rights and ensure you receive the compensation you deserve.

Settlement Authority

Settlement authority is the target, the maximum amount that an insurance adjuster is hoping to offer to settle a personal injury claim. However, this amount is usually far below the actual value of the claim. Each adjuster has a vested interest in settling for as little as possible, as it shows their value to their boss. Furthermore, the insurance company benefits from settling quickly, often at the expense of the injured party. As a result, it is essential for those seeking a fair settlement to work with an experienced personal injury lawyer who can fight for their rights and ensure that they receive a just settlement.

Delayed Claims Process

A delayed claims process refers to a situation where an insurer purposely drags out the truck accident insurance claim process. This tactic is typically used when the insurer is attempting to reach a settlement that favors their client. The longer they delay the process, the more likely the claimant is to become frustrated and settle for a lower amount. Additionally, some insurers may try to run out of the statute of limitations, which is the period in which a claimant can file a lawsuit. This unethical and sometimes illegal tactic is used to avoid paying out a claim entirely.

Lawyer shaking hands with someone

When To Hire A Personal Injury Lawyer For A Truck Accident

If you’ve been involved in a tractor-trailer accident, you may think that the insurance company is there to help you. In reality, however, their goal is to pay out as little as possible for your injuries and damages. This is why it’s crucial to get a personal injury lawyer involved to fight for you. Your lawyer will work to understand the full scope of your injuries, lost income, and medical expenses, and use that information to attempt to negotiate a fair settlement on your behalf.

An experienced personal injury lawyer can provide you with the knowledge of your rights and options which can help avoid costly mistakes that can come with navigating a complex legal system.

Get In Touch

At Stinson Law Group, we have a proven track record with experience in big rig crash cases throughout Montana and Wyoming. With over four decades of experience, our team has honed our expertise to effectively represent our clients and fight for their rights. We understand the intricacies of truck insurance claims, the rules of the road, and the tactics used by trucking companies, which allows us to build a strong case and pursue maximum compensation for our clients. Don’t risk it – contact us today to see how we can help you.