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What Is the Average Settlement for a Truck Accident?

May 13, 2023Trucking Accidents

Given the complexities and variables involved in truck accident cases, it is challenging to provide an exact average settlement figure. Settlement amounts can range from a few thousand to several million dollars, depending on the circumstances. Oftentimes it depends on the following factors, which can influence a truck accident settlement.

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Severity of Injuries

The extent of injuries sustained in a truck accident is critical in determining the settlement amount. Severe injuries that result in long-term disability and significantly impact the victim’s quality of life typically yield higher settlement agreements. For example, spinal cord injuries, traumatic brain injuries, severe broken bones, and other debilitating conditions.

Medical Expenses

The cost of medical treatment, including hospitalization, surgeries, physical therapy, and ongoing rehabilitation, plays a significant role in calculating the settlement. Medical records, bills, and expert opinions are crucial in establishing the anticipated future costs for care.

Lost Wages and Earning Capacity

Compensation may be awarded for the income lost during recovery, as well as future earning potential that has been compromised due to the injuries.

Property Damage

Truck accidents often cause extensive damage to vehicles involved. The cost of repairs or replacement of the damaged property, including vehicles, personal belongings, and other items, is considered when determining the settlement amount.

Liability and Negligence

The degree of the at-fault party’s negligence can increase a settlement award, especially if aggravating factors, such as drunk driving, were present.

Insurance Coverage

The insurance policies held by the truck driver, trucking company, and other involved parties can influence the settlement. The policy limits determine the maximum amount of compensation available, and if the damages exceed these limits, the compensation may be limited to the coverage amount.

Legal Representation

Having an experienced Houston personal injury lawyer can greatly impact the outcome of your case. A skilled lawyer will work to gather evidence, negotiate with insurance companies, and advocate for your rights, increasing the chances of securing a favorable truck accident settlement.

What To Do After a Truck Accident to Increase Your Claim’s Value

Ensuring your safety and well-being is the top priority after a truck accident, but there are also certain steps you can take to protect your legal rights and increase the potential value of your claim. For example:

Seek Immediate Medical Attention

Even if you feel fine or have minor injuries, seeking medical care as soon as possible is vital. Some injuries may not manifest symptoms immediately but could worsen over time. Additionally, prompt medical documentation of your injuries strengthens your claim and provides a basis for compensation.

Contact Law Enforcement

An official police report will document the details of the accident, including any violations or negligence by the truck driver or other parties involved, which an insurance company will consider when deciding fault.

Gather Evidence

Collect as much evidence as possible at the accident scene if you can. Take photos, videos, and get contact information from any witnesses.

Avoid Discussing Fault

Stick to factual information when speaking with the police, insurance representatives, and other parties involved to avoid making any statements that may be used against you later.

Notify Your Insurance Company

Report the accident to your insurance provider as soon as possible.

Do Not Accept an Early Settlement Offer

Insurance companies may attempt to pressure you into accepting a quick settlement soon after the accident. Early offers are often inadequate and may not account for the full extent of your damages.

Consult an Experienced Truck Accident Attorney

It is highly recommended to seek legal representation. A Houston truck accident lawyer will help assess the value of your claim and negotiate a fair settlement that covers all your losses.