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Settling a Maryland truck accident case can be tricky. You need to know when to settle, how much to settle for, and when to file suit against the defendant for your injuries. Coming to a proper amount to settle for requires nuanced legal maneuvering and negotiating with the adverse insurance company. This can be the difference in several thousands of dollars or even millions in some cases. Thus, the law firm you select is critical. We recommend doing your research and choosing an attorney who is responsive, experienced, and one you can trust. While responsiveness and trust are prerequisites to excellent legal representation, experience is vital because different insurance providers across Maryland act differently during a settlement negotiation. Our attorneys have practiced personal injury law in Maryland for over 70 years. During this time, we have come to know the various procedures within the insurance companies.
We know how they negotiate and get them to increase their settlement offer when they may not tell us something about their insured. Settlements offer a resolution without trudging through the trial process (which can take upwards of a year to even get into a court), providing compensation to the injured party in a more timely and often less contentious manner. Below, we discuss the most decisive factors in whether we settle your case and for how much. Then, we briefly discuss how to calculate your case’s value, how different insurers behave, and when to consider litigation. Ultimately, whether we file a lawsuit against the defendant is your decision. If you say the word, that is what we will do. However, settling a case tends to be quicker, less costly, and, in a sense, guaranteed.
When we go to trial, there is always a slight chance the jury has it out for you. However, when we agree to terms for settlement, we know exactly what we are agreeing to ahead of time. During this phase, we also have leverage.
Countless factors influence settling a Maryland truck accident case. Of course, fault and liability are the first two issues to consider. If the defendant is not liable or is contributorily negligent, you cannot make a claim in Maryland. This is different from other jurisdictions that may follow comparative negligence rules. Nonetheless, some exceptions may apply. Speaking to a knowledgeable attorney can help determine whether you have a case worth pursuing. Once we determine liability, we must consider whether we can prove liability at trial. If we lack sufficient evidence to prove the defendant acted negligently by a preponderance of the evidence, we may wish to bluff and try to settle your case. In this scenario, we may accept a lower settlement amount if we know we cannot prove the requisite elements at trial due to a lack of evidence.
Another key factor to consider is the severity of your injuries. An injury in a Maryland truck accident is often financial. However, it can also be an emotional trauma. Once we calculate the value of your case, a concept we discuss next, we know what we are willing to accept as a settlement offer. More factors influencing settlements include the persuasiveness of evidence regarding the truck driver’s negligence, the trucking company’s safety record, and any violations of transportation laws or maintenance records, which play crucial roles in shaping settlement negotiations.
Calculating compensation when settling a Maryland truck accident case follows a slightly different model than if we go to trial. Compensation in a Maryland truck accident includes economic and noneconomic damages. We must consider all past and future damages to calculate how much compensation is due. We calculate economic damages, or special damages, by determining how much you owe in medical expenses and how much time you have missed or will miss from work. To calculate your damages for settlement purposes, we can only value your case once you have completed treatment and have been discharged by all doctors. Naturally, this can extend the duration of your case. However, it is worth it. It would be foolhardy to be still treating unless your treatment will be for an indefinite duration.
Otherwise, the adverse insurer will reasonably argue that you may cease treatment the day after we settle your case, making it naive for the insurer to offer compensation for months of additional treatment. If the doctor gives you a permanency rating, you may require medical care for the rest of your life. When this happens, we will use a life table to determine how a court would calculate the remainder of your life in years and multiply that by your medical expenses. We must also consider any lost wages and loss of future earning capacity. Some claimants do not miss any time from work. Instead, they choose to work under the duress of the pain they are in. When this happens, we make that argument in the noneconomic damages portion of your claim.
The role of insurance in settling a Maryland truck accident case is pivotal. Without insurance coverage for the defendant, many defendants cannot afford a judgment against them. This is why auto insurance is required for everyone on the road. Because nearly every Maryland truck accident case goes through an insurance provider, the role of insurers is vital to the claims process. Trucking companies tend to have larger policies than the typical motorist in Maryland. This is for a few reasons. For one, they tend to have more assets as a corporation than the typical individual driving in their personal capacity. Additionally, trucks tend to do far more damage when they get into an accident than the typical vehicle. Thus, while their premiums may be more expensive, their insurers make larger payouts.
Understanding the policy limits and the insurance company’s tactics is crucial. Effective settlement strategies involve thoroughly reviewing the applicable insurance policies, understanding the insurer’s approach to truck accident claims, and anticipating the adjusters’ strategies to reduce payouts. Remember, insurance providers in Maryland are in business to not make money. So, they will only agree to a settlement if it is more cost-effective for them to do so. Of course, if they know their case is a loser, they do not want to go to trial, pay more in legal fees, and still make a payout. Thus, we do have leverage in our negotiation.
There are two instances when we consider litigation while attempting to settle a Maryland truck accident case. The first is when defense counsel outright denies that their insured is liable. They may do this if we have insufficient evidence to convince them in a negotiation, or they simply take their insured’s word over yours. Of course, just because they take their insured’s word does not mean that a jury will.
The second time to consider litigation is if the defense team does not offer an adequate settlement. We will advise you when we believe they are not offering you what your case is worth. Then, it is ultimately your decision to litigate the case or accept their top offer.
Speak to an attorney to determine whether settling a Maryland truck accident case suits you.
Contact Gelb & Gelb today for a free consultation and case evaluation at (202) 331-7227.
Copyright © 2024 Gelb & Gelb, P.C. All rights reserved.