“ What can I claim from the insurance company for my accident? I’m out more than just my missed loads. My whole business is stopped, and we’re upside down financially now. None of this is my fault!”
If you are going against another party’s insurance company, here are some of the items you may consider pursuing through the insurance claim. You’ll see that some things are fairly easy to claim while others are generally not allowed based on the laws of the particular state.
Which Losses Can I Recover Through an Insurance Claim Against the Other Driver?
Depreciation/Diminished Value?
Request the lost value of your equipment resulting from the accident. For example, if your Freightliner was worth $75,000 before the accident and is only work $50,000 now, you are due $25,000 in diminished value. Get a valuation expert’s report to back it up.
Pain and Suffering / Emotional Distress?
Being out of work after an accident can take a toll on your emotional well-being. The stress can even impact your physical health. The other driver and their insurance company don’t care that your home is being foreclosed on or that you can’t put food on the table. It feels like someone should have to pay for the pain you have been put through. Pain and suffering is often a part of a personal injury claim, where a person’s body has been hurt or they’ve witnessed something gruesome. Unfortunately, pain and suffering is not often part of a property damage/downtime claim. Emotional distress generally must rise to the level of a psychological diagnosis by a doctor.
Hotels, Plane Tickets, Rental Cars?
These costs are all out of pocket expenses. Save your receipts and claim them.
Repairs?
Absolutely claim these expenses! An estimate and/or final invoice will be necessary.
Rental Equipment?
Yes, keep your invoices and show the rental was needed because of the accident.
Interest?
In most states, it is unfortunately not possible to collect interest on your delayed payment from the adverse party. This is true even if the accident was six months ago, they are giving you the “runaround,” and not paying you what they should. Interest can only be legally required where there is a state statute allowing it or a contract requiring it.
Attorney’s Fees?
In most states, attorney’s fees are generally not recoverable. However, some states allow it and you should check with your lawyer.
Court Costs?
If you win at trial, a judge may order the other side to pay your court costs. These are expenses like filing fees and sheriff’s service fees.
Other Things to Consider about Insurance Claims
It’s important to claim everything you can at the beginning of your claim. Think; what can I claim from the insurance company for my accident? Use this list to help you compile your expenses and submit them to the insurance company.
If you sign a release, you may never be able to recover your rightful money. You must be very careful when signing any document from the other person’s insurance company. If in doubt, contact an attorney who deals with trucking law.
Every case is unique, depending on the facts of the claim and the state where the accident happened. So, if you are wondering what you can recover based on your specific case, contact an attorney that focuses in trucking law and downtime for a consultation.