Truck accidents can be devastating, causing severe injuries and property damage. If you have been involved in a truck accident, you may wonder what the average settlement amount for a truck accident is.
We will explore the factors determining the settlement amount for a truck accident and provide some insights into the average settlement of a truck accident case. We will also cover the role of legal representation in a truck accident and the importance of understanding the specifics of your case.
FACTORS THAT DETERMINE THE SETTLEMENT AMOUNT
Several factors come into play when determining the settlement amount for a truck accident. These factors include:
1. SEVERITY OF INJURIES
The severity of injuries sustained in a truck accident is a significant factor in determining the settlement amount. If the injuries are severe and result in long-term disability or require extensive medical treatment, the settlement amount is likely higher.
The type of injury also plays a role in the settlement amount. For instance, traumatic brain , and spinal cord injuries often result in higher settlements due to the long-term impact on the victim’s life.
2. PROPERTY DAMAGE
The extent of property damage caused by the truck accident also can impact the settlement amount. If the accident resulted in significant damage to your vehicle or other property, a jury may conclude the impact led to significant injuries.
If the crash was a fender bender, and the property damages are minor, getting a large settlement is much more difficult.
Determining liability is crucial in a truck accident case. If the truck driver or the trucking company is found to be at fault for the accident, the settlement amount is likely higher. However, the settlement amount may be reduced if you are partially at fault for the accident.
The degree of liability can also affect the settlement amount. If the truck driver or trucking company is found to be entirely at fault, the settlement amount could be significantly higher than if they were only partially at fault. Also, if the driver violated safety rules that were a cause of the crash, the safety rule violations can cause a larger settlement or award.
Houston juries are not sympathetic to professional truck drivers who break the rules.
4. INSURANCE COVERAGE
The insurance coverage of the truck driver or the trucking company plays a significant role in determining the settlement amount. A commercial liability policy means greater risk for the insurance company and, therefore, higher settlements.
Generally, interstate carriers have a higher minimum liability policy than only instate drivers. Many trucking companies carry excess coverage to protect the company.
5. YOUR TRUCK ACCIDENT LAWYER
A skilled and experienced attorney representing you can significantly impact the settlement amount. An attorney specializing in truck accident cases will have the knowledge and expertise to negotiate a higher settlement on your behalf.
Your attorney’s reputation and track record can also influence the settlement amount. If your attorney has a history of securing high settlements in truck accident cases, it could increase the likelihood of a higher settlement.
Experienced big rig lawyers will quickly investigate the accident and secure vital evidence.
6. ECONOMIC AND NON-ECONOMIC DAMAGES
Economic damages, such as medical expenses and lost wages, and non-economic damages, such as pain and suffering, can also affect the settlement amount. The settlement amount is likely to be higher if the economic and non-economic damages are substantial.
Future medical expenses can have a big impact on truck accident settlements.
AVERAGE SETTLEMENT AMOUNTS FOR TRUCK ACCIDENTS.
It is important to note that every truck accident case is unique, and the settlement amount can vary significantly depending on the specific circumstances. However, we can look at some average settlement amounts for truck accidents to give you a general idea.
In representing truck accident victims for over 35 years, we have found that the average truck accident settlement amount in Texas is from 500 thousand to over 5 million for severe injury accidents. Of course, an expert trucking accident attorney must independently evaluate every case.
SEMI TRUCK ACCIDENT SETTLEMENT CALCULATOR
A semi-truck accident settlement calculator is a tool that can help estimate the potential settlement amount for a truck accident case. To estimate the settlement amount, these calculators consider various factors such as medical expenses, lost wages, pain and suffering, and property damage.
While a semi-truck accident settlement calculator can give you a number, it is essential to remember that it is only an estimate and not a guarantee of the actual settlement amount.
Too many factors go into evaluating the settlement value of a case for any settlement calculator to be accurate. Consulting with an 18-wheeler attorney is crucial to get a much more accurate assessment of your case.
It’s also important to note that these calculators are based on averages and may not accurately reflect the specifics of your case. Therefore, while they can provide a starting point, they should not be relied upon as the final word on your potential settlement.
TRUCK ACCIDENT SETTLEMENTS
The average settlement amount for a truck accident can range from a few thousand dollars to millions of dollars. It depends on the factors mentioned earlier, such as the severity of injuries, property damage, liability, insurance coverage, and legal representation.
In cases where the injuries are minor and the property damage is minimal, the settlement amount may be on the lower end of the spectrum. This can be in the tens of thousands. However, if the injuries are severe, resulting in long-term disability or extensive medical treatment, and the property damage is significant, the settlement amount can be substantial. Sometimes, compensation will be multiple millions.
It’s also worth noting that the settlement amount can be influenced by the jurisdiction in which the case is filed. Some jurisdictions are known for awarding higher settlements in truck accident cases, while others may be more conservative.
Statistics prove big rig truck accident cases settle for more than a car-to-car crash.
Yet, to know a reasonable number for your case, an experienced attorney must carefully evaluate it. If a lawyer gives you a number without knowing all the facts, they are blowing smoke.
GARBAGE TRUCK ACCIDENT SETTLEMENT
Garbage truck accidents can be particularly devastating due to the size and weight of these vehicles. The average settlement amount for a garbage truck accident can be higher than other truck accidents due to the potential for more severe injuries and property damage.
Again, the specific circumstances of the accident will play a significant role in determining the settlement amount. Consulting with an attorney specializing in garbage truck accidents is crucial to ensure you receive fair compensation for your damages.
In addition to the factors mentioned earlier, the settlement amount in a garbage truck accident case can also be influenced by the specific nature of the accident. For instance, if the accident was caused by a failure to adhere to safety regulations, the settlement amount could be higher.
TRUCK ACCIDENT SETTLEMENTS DEPEND ON SEVERAL FACTS
The average settlement amount for a truck accident can vary significantly depending on various factors, such as the severity of injuries, property damage, liability, insurance coverage, and legal representation.
While a semi-truck accident settlement calculator can provide an estimate, consulting with an attorney is essential to assess your case more accurately. If you have been involved in a truck accident, it is crucial to seek legal representation to ensure you receive fair compensation for your damages.
In conclusion, it’s important to remember that every truck accident case is unique. Therefore, the average settlement amounts mentioned in this article should be taken as general guidelines rather than definitive figures. Always consult a skilled and experienced attorney to understand the potential value of your specific case.
CALL BAUMGARTNER LAW FIRM FOR HELP WITH A COMMERCIAL VEHICLE ACCIDENT IN HOUSTON, TX.
Baumgartner Law Firm
6711 Cypress Creek Pkwy, Houston, TX, 77069
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Our firm was established in 1985 and has helped thousands of injury victims get maximum compensation for their cases. If you have been injured in an accident in Houston, TX, contact us for a free, no-obligation consultation. (281) 587-1111.
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