After suffering debilitating injuries in a commercial truck wreck, you do not have time to wait for the insurance company to process your claim or your case to go through the civil court system. You have costs you need to be covered now. Unfortunately, the truck accident claims process can take longer than most victims expect.
Every person’s case is different, so the amount of time it will take to settle yours could vary widely depending on the specific details of your collision. When you need help accessing a cash advance on your truck accident settlement, look no further than our loan specialists at Silver Dollar Financial for help.
Truck Accident Victims Have the Right to Total Compensation
After being involved in a commercial truck accident, you have the right to be repaid for every loss. However, to recover the compensation you deserve, you may need to be prepared to seek restitution across multiple avenues.
Generally, this involves filing a claim with the insurance company and potentially bringing your case to civil court. In some instances, you might be able to avoid going to court. However, this is generally only possible if you can reach an agreement with a liable party outside of court or if the insurance settlement you receive sufficiently meets your needs.
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What Influences the Amount of Time It Takes to Settle a Truck Accident Claim?
Unfortunately, many victims are surprised that the claims process takes far longer to resolve than expected. Many people hope to recover their truck accident compensation quickly to rebuild their lives.
However, between the investigation into the cause of the accident, negotiating with the insurance company, and going to court, it could be months or even years before your settlement funds come in. Here are some of the top factors that influence the amount of time it takes to settle truck accident lawsuits and insurance claims:
Whether You Share Liability for the Accident
If you are accused of sharing the blame for your commercial truck accident, you can almost certainly expect the claims process to be delayed. In a truck accident case, the liable party will almost certainly attempt to say that you contributed to either causing the accident or the injuries you sustained.
Every state has different shared falter laws in place. There are three primary types of shared liability. These include:
- Pure comparative negligence – Here, if you share fault for causing your accident or subsequent injuries, you can still recover compensation for your damages, but at a reduced rate proportionate to your percentage of the blame. For example, if you were 15% liable for causing the accident because you were not wearing a seatbelt, you could expect your settlement to reflect a 15% shared fault deduction.
- Modify comparative negligence – If you share fault for causing your injuries or the accident itself, you could still recover compensation for your damages, as long as your percentage of liability is not greater than the state’s threshold, which is generally somewhere between 49% and 51%. Like with pure comparative negligence states, if your portion of the fault is less than the threshold, your settlement will be reduced to account for your percentage of liability.
- Pure contributory fault – In states that follow pure contributory fault, sharing liability means you are prohibited from recovering compensation for your damages if you are partially to blame. However, only a handful of states across the U.S. follow contributory negligence laws, including Alabama, New Hampshire, Virginia, and Maryland.
If you are accused of sharing the blame for your truck accident injuries, it will delay the processing of your claim, as your attorney will then need to direct their resources towards producing compelling evidence that accurately identifies the liable parties.
The Statute of Limitations
The statute of limitations could also influence how long it takes to recover the compensation you deserve. Not only do you need to worry about the statute of limitations for personal injury and civil claims, but there may be insurance deadlines you must adhere to as well.
If your claim is not filed before time runs out, you could risk your opportunity to recover the compensation you would have otherwise deserved. For this reason, getting started on your truck accident lawsuit as soon as possible will be one of the best ways to protect yourself and your injury settlement.
The State’s Insurance Laws
How insurance claims are processed in your state could also influence how long it takes to access your truck accident settlement funds. Some states have no-fault insurance laws. Here, you file a claim with your insurance company, no matter who is responsible for causing the accident.
However, in fault-based states, you must file a claim with the liable party’s insurer instead. For some, if you file a claim with your insurer, you might have access to enough compensation to cover your damages fully. However, whether you file a claim with your own insurer or that of the liable party, if insurance coverage is not enough to cover your damages, your case could be further delayed since you will need to go to trial to maximize your financial recovery.
Insurance settlements are often insufficient and require victims to go to trial if they hope to recover every loss. Since insurance will typically only cover the cost of your medical bills and vehicle repairs, any non-economic damages you hope to recover might only be available through a lawsuit.
How to Access Pre-Settlement Legal Funding After a Truck Accident
The claims process after your truck accident may take longer than you hoped. However, that does not mean you need to wait until your case is resolved to begin covering your debts.
Instead, contact Silver Dollar Financial to find out if you qualify for a pre-settlement loan. Here, you can get an advance on your truck accident settlement and pay us back when your funds come in. After verifying your anticipated payout and expected resolution date, we could approve your application and have a portion of your settlement funds sent to your bank within hours.
Reach Out to Our Loan Specialists for a Cash Advance Today
It would be best not to wait months or even years for your truck accident settlement. When you need help getting your costs covered now, but do not know where to turn, do not hesitate to contact Silver Dollar Financial.
Our experienced loan specialists are here to help you access the pre-settlement truck accident funds you need to get through these trying times. Apply now, fill out our quick contact form, or call our office to discuss your financial needs further.