What Is the Average Settlement for a Truck Accident?
If you are curious about the average settlement for a truck accident, you are not alone. Anyone that has ever considered legal action following a collision with a commercial vehicle has wondered what their claim might be worth. Truck accidents accounted for more than 4,100 fatalities in 2018 alone, according to the Insurance Institute for Highway Safety (IIHS).
The consequences of non-fatal truck accidents are also frequently severe. Victims of these collisions could suffer life-long disabilities, chronic pain, and a dramatic decrease in their quality of life. All of these factors will help determine the settlement value of your accident claim.
Estimating the Value of Your Case
While your attorney cannot promise a favorable outcome in your case or advise you on what you will recover should you prevail, they could give you an estimate of what could be possible. Your attorney could carefully review the facts of your case to determine what your claim might be worth.
Before your attorney can advise you on the value of your claim, they must first carefully investigate every aspect of your case. This starts with determining how the accident occurred. This is an important part of developing a theory of liability.
The theory of liability is your attorney’s determination of who is at fault for the accident and why. Establishing that the truck driver or their employer is responsible for the crash is central to seeking a favorable settlement offer. If you cannot show the truck operator caused the crash, the insurance company has no reason to make you a settlement offer.
The investigation will also focus on your potential damages. In addition to proving fault, you must also make a case for how much compensation you are entitled to recover. This could include compiling your bills and discussing your non-economic losses in the accident.
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The Importance of Negotiation
A settlement involves a dollar amount that is agreed upon by both sides. This means that you and your attorney have a role to play in determining what your case is worth.
Getting the most out of your injury claim is not always simple, however. The insurance adjusters and attorneys that negotiate these claims may not offer you fair compensation from the start.
When it comes to negotiating with insurance companies, a lawyer can help you provide evidence for fair compensation. If your attorney understands their tactics and is confident in the value of your claim, you can avoid accepting a settlement offer that does not fairly cover your losses.
Types of Damages that May Be Available to You
Few factors in the value of your settlement are more important than the damages you suffered from the crash. There are multiple types of damages available in these cases, and you could be entitled to recover more than one. These damages include:
- Medical bills. The cost of your medical care after a truck crash could be the primary driver of your claim’s worth. You could be entitled to recoup the cost of both past and future medical treatment related to your truck accident injuries.
- Lost wages. You could also obtain compensation based on your lost wages. A successful settlement could include damages that replace your income after the accident as well as in the future if you experience a reduction in earning capacity.
- Pain and suffering. Your physical pain from the accident is another important part of your damages claim. This type of compensation is subjective, but a lawyer can help you assign a monetary value to it.
Seek an Attorney for Help with Your Truck Accident Claim
The value of your truck accident settlement will depend on many factors. Some of these factors—like the severity of your injuries—are outside of your control. You have the choice to work with an attorney when seeking fair compensation through an insurance claim or lawsuit.
The attorneys of High Stakes Injury Law can advise you on the value of your injury claim and assist you in obtaining fair compensation. To learn more about how we can help, call (702) 707-5934 for a free consultation today.