Bigger commercial truck insurance policies cover worse damage

Pretty much everything is bigger about large commercial trucks when compared with passenger vehicles. They are taller, wider and longer. They are also typically several times heavier than passenger vehicles. They also have an obligation to carry more substantial insurance coverage then passenger vehicles.

Those larger policies can incentive insurance companies to engage in more aggressive negotiation tactics after crashes caused by commercial drivers, which could leave you without the compensation you deserve. If you have recently gotten into a crash with a commercial truck, knowing a little more about the costs involved can help you negotiate a more reasonable insurance settlement.

What do truck crashes typically cost for victims?

An analysis of truck crashes performed by the Federal Motor Carrier Safety Administration found that truck crashes are incredibly expensive. Crashes that cause only property damage cost, on average, $15,114. After all, big vehicles can cause massive damage to smaller passenger vehicles. If someone got hurt, the average cost for the crash increased to $195,258, while fatal crashes resulted in expenses that averaged $3,604,518.

Of course, those figures are averages. Any one crash could produce costs that vary drastically from the average. Factors like speed, road conditions, the size of the second vehicle and more will all impact how many costs a commercial trucking crash produces.

Looking at estimates about the cost to repair or replace your vehicle, bills for your current medical expenses and treatment plans for future medical care can give you an idea of what a trucking crash might cost you specifically. You will need to know those amounts in order to advocate for yourself while dealing with the insurance company covering the commercial driver.

Insurance companies are eager to settle for less than a claim is worth

Insurance companies want to limit their liability and losses after a crash, which might mean that they make a settlement offer that initially looks good but actually undervalues the impact of the crash. Having an idea of what your cost may be and getting ready to push back against low settlement figures can be an important step toward protecting yourself after a crash with a commercial truck.