A collision with a truck may become severe and traumatic. More often than not, truck crashes affect multiple pedestrians and other drivers due to the truck’s size and weight. While calculating the settlement depends on the severity of the truck accident case, an average truck accident settlement for truck accidents with non-fatal bodily injuries is about $200,000. At the same time, a severe truck collision with fatal damages climbs up to millions of dollars.
Are you involved in a truck accident and want compensation for the damages? This article may help you understand how truck accident settlements work.
What Is The Average Settlement For Truck Accidents?
There is no specific value when it comes to truck accident settlements because not all truck crashes are the same. However, based on the previous study released by the Department of Transportation, an average truck settlement amounts to:
- $15,144 for accidents with property damage only.
- $195,258 for a truck crash with non-fatal injuries.
- $3,604,518 for deadly truck collisions.
Take note that these data were solely based on the evident damages from the accident. The study could not reflect other settlement factors, such as pain and suffering. When determining the truck settlement for your accident, it is best to contact a legal expert who can consider all areas to cover when calculating the compensation.
How Are Truck Settlements Calculated?
It is essential to determine the party liable for the accident when calculating the total damages for compensation. In case the truck driver is at fault, truck companies have insurance coverage to provide for the restitution, as imposed by Federal Motor Carrier Safety Administration:
Minimum Liability for Truck Accidents – Insurance Coverage | Source: U.S. Department of Transportation Federal Motor Carrier Safety Administration
When calculating the minimum truck accident settlement, you must consider the following factors:
- Medical expenses from the bodily injuries
- Property repair costs
- Pain and suffering
- Loss wages
- Future financial losses
- Rehabilitation or therapy for long-term to permanent disabilities
- Wrongful death, if there is any
Handling a truck accident case and negotiating the compensation may be challenging, especially if you have limited knowledge of truck accident claims. This is why it is highly recommended that you hire an accident lawyer to check all possible factors when calculating the damages and negotiating for the maximum truck settlement.
Why Are Truck Accidents Dangerous?
An average semi-truck weighs about 10,000-25,000. In the United States, a truck can load up to 80,000 pounds. With the commercial vehicle’s weight and size, a truck can likely hit and affect multiple parties, causing severe damage to the victims. A truck crash may result in the following:
- Bodily injuries
- Property Damages
- Multiple car crash
- Long-term to permanent disability
- Wrongful death
Do I Need A Lawyer for A Truck Accident Case?
Dealing with a dramatic truck crash can be frustrating, consuming, and overwhelming. As you move forward with your case, you may face complexities that may hinder you from receiving the total value of your compensation, such as:
- Lack of substantial evidence
- Difficulty in proving the party liable for the accident
- Pressure from truck companies with a legal team on their defense
- Taking advantage of the injured state of victims
If you experience these challenges, contacting a lawyer who can fight for your case is best.Jacoby and Meyers Law Office has an extensive and winning experience in truck accident claims. We can help you from the initial process of proving the liable party to negotiating the truck settlement on your behalf. We ensure our clients can heal and walk out from an accident with maximum restitution and well-deserved justice. Give us a call today at 888-960-0480 for a free consultation. We are available 24 hours a day, seven days a week, to help you.