Who Pays In a Truck Accident Case?

If you have been injured in a truck accident and it wasn’t your fault, it is important that you seek out the services of truck accident lawyers and make a claim. It is neither fair nor right that you should have to incur any financial loss as a result of this, and a successful claim will result in you being awarded compensation for what has happened. 

You may be wondering however, who exactly it is who will pay out in this kind of event, which we are going to talk about here. 

Insurance Companies 

The money which is paid out in compensation comes directly from the insurance companies of the defense. It will be the legal team of the insurance company which takes on the case, and they will also be the ones who handle negotiations and who will represent their client in court should the case get that far. This is exactly why it is imperative that companies are fully protected by their insurance, so that they are able to lean on them in the event of an accident, and use their services to best protect them. 

Trucking Companies

Make no mistake, simply because the insurance company is the one which will be handling the case and paying out the money, that cost is most certainly going to be passed on to the trucking company. This will not be through a direct payment however, but rather through an increase in the cost of their policy. This happens to the public too of course, who have an increase in their car insurance premiums after multiple accidents or claims. The difference when it comes to trucking companies however is that those increases are usually pretty hefty, because the insurance company expects to have to payout given the behaviors of the trucking company. 

Attorneys 

Some think that attorneys take on the load of payment in these cases, and that this is a reason why they have such an impetus to win. This however is not the case, and the lawyers are almost always working for the insurance companies. It makes perfect sense of course for insurance companies to have their own lawyers rather than rely on a law firm, because of the quantity of cases which they are likely to be working on. 

Costs You Will Pay

If you do hire truck accident attorneys and win the case, they will take a percentage of the total compensation which you have been awarded, for their services. This however will not be a hidden fee, and you will be made fully aware of the percentage which they will take before you decide to let them represent you. The costs can range greatly depending on what law firm you use, and this is why it is important to speak with a number of firms before you make your decision. 

Any further questions which you may have about the inner workings of the finances of this kind of case, don’t hesitate to get in touch in the comments section below. 

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