Like all kinds of motor vehicles, commercial trucks should comply with the state’s financial responsibility laws by having sufficient auto insurance to cover accidents. When another motorist or pedestrian gets into an accident with a commercial truck driver, they will need to file a claim with the liable party’s insurance provider.
If the insurer agrees to a fair settlement, the injured party may not need to file a lawsuit in civil court. On the other hand, it’s important to note that insurance companies rarely play fair. Also, there might be multiple insurance policies that an injured victim could recover from, so it’s important that you have a truck accident lawyer evaluate your case immediately after the accident and before you talk to any insurance companies to identify all possible sources of recovery.
Insurance Requirements Imposed by the Federal Motor Carrier Safety Administration
Besides complying with state-imposed auto insurance, commercial trucks must likewise follow FMCSA insurance requirements. It requires all commercial carriers to carry adequate insurance coverage to ensure that injured motorists will be compensated in case of accidents.
Commercial carriers can meet the FMCSA requirements with one policy, through bonds or self-insurance, or by layering several liability insurance coverage policies. However, if the injured victim’s losses exceed the liable party’s policy limits, the victim may be able to pursue other sources of recovery to obtain additional compensation.
When Multiple Insurance Policies Are Involved
In most commercial truck accidents, there’s always the possibility that multiple parties, like the driver, trucking company, truck manufacturer, among others, may be held legally liable for damages. The potential for multiple liable parties also means that victims could possibly file a claim against various insurance policies. But coordinating and negotiating with different insurance claims adjusters is complex and requires an experienced understanding of the law, particularly if one or all of them are denying liability or undervaluing your claim.
Likewise, it’s hard to determine whether the compensation they’re offering you is sufficient to cover your losses, which is why working with an experienced commercial truck accident attorney to determine all possible sources of recovery and negotiate with insurance companies is crucial.
Seek Legal Advice From an Experienced Commercial Truck Accident Lawyer in South Carolina
To find out more about your rights to fair compensation following a commercial truck accident, don’t hesitate to get in touch with the Bringardner Injury Law Firm. Call 843-380-5299 or complete our online form to arrange a free evaluation of your claim with our South Carolina commercial truck accident lawyer today.
Commercial Truck Accident Insurance Claims FAQs
Should I accept the insurance company’s first settlement offer?
Generally, no. Quick settlement offers usually undervalue the real worth of an insurance claim for accidents, including commercial truck accidents.
Can I negotiate with the insurance company?
It is smart to call an attorney first. If you try to go it alone, you may tell the insurance company information that is unfairly used against you. If it’s a minor accident with no injuries and some property damage, you can try negotiating a fair settlement with the insurer. But if you are injured, you will need an experienced lawyer.
How can a commercial truck accident attorney help me?
Your attorney can accurately assess the damages available to you and the value of your claim, as well as negotiate with insurance companies to get you the compensation to which you are legally entitled.