When you get into an unfortunate road accident with a truck, the first thing on your mind would be how much compensation you can claim from the liable party. While there are various damages you can recover, like medical costs, lost wages, non-economic damages, etc., there are several factors to take into consideration to derive an estimated amount.
That being said, it is important to understand that no two truck accident cases are the same, which is why it is impossible to tell the exact amount you are going to receive from the insurance company. That is why it is always beneficial to speak to an experienced Houston truck accident attorney to ensure you get the compensation you deserve and nothing less.
What are the factors that affect the value of the claim?
As already stated, no two truck accident cases are the same, which is why it is difficult to figure out an exact amount. Moreover, the facts of every case are different. Some factors that affect the value of the claim include:
- medical fees
- the loss of wages
- mental trauma from the accident
Since these factors greatly affect your life after the accident, these determine how much compensation you will get.
Why you should not accept an offer early
It is never a good idea to accept an early offer. The amounts offered in the beginning are always the lowest and are made to test your patience level. The insurance company wants to check whether you are lazy enough to accept whatever is offered to you or whether you will make further efforts for a better settlement offer.
It might be tempting to settle early, but the amount is usually insufficient to cover all your damages. When the funds get exhausted, you will find yourself regretting not fighting for a better offer. Moreover, the initial offers usually do not consider the non-economic damages, such as mental anguish. It is good to have a lawyer to help you calculate the true value of your claim so you know what a good offer is.
Be careful of the time limit.
If you have been in a trucking accident and are planning to file an insurance claim to recover damages, make sure you do so within the legally stated time limit. In Houston, Texas, the time limit to file a claim is two years from the date of the accident. If you fail to file within this timeline, you will lose your right to do so.