Car accidents can be life-altering and can impact a person's life significantly. The impact is even more significant if you are involved in a truck accident. A truck accident can result in more severe injuries, which also mean higher medical bills, costlier repairs, and in most cases, more intense trauma. Because of the severity increase in truck accidents, what is the average settlement for these personal injury cases?
The FMCSA (Federal Motor Carrier Safety Administration) reports large trucks weighing more than 10,000 pounds cause about 500,000 accidents annually. More than twenty percent of these accidents result in serious injury and, in some accidents, death. A semi-truck can weigh from 10,000 pounds up to 25,000 pounds when they are empty. These large vehicles make up almost all "large truck" accidents.
There can be a lot of confusion after a traumatic accident involving a truck, so it is important for you to have experienced legal representation from a truck accident attorney when seeking compensation for injuries. You can learn more at MidwestInjuryLawyers.com, one of the several reliable personal injury law firms. Semi-truck accidents typically involve several parties, including the truck driver, the trucking company, the manufacturer of truck parts, and even maintenance teams responsible for the truck's upkeep.
How Average Settlement in Truck Accidents is Determined
A truck accident settlement can include the liable party, such as the truck driver and their company paying compensation to the injured party. This compensation is determined through negotiations which should include your truck accident attorney, insurance companies, trucking company, and the driver of the truck.
Truck accident claims typically involve heavy commercial trucks such as tow trucks and semi-trucks. The length of truck accident claims will depend on the unique situations of each case but are typically settled within six to sixteen months after the accident occurred.
Settlements in truck accidents can vary but are normally more than two automobiles crashing. The reason for higher settlement amounts is because of the risk these large vehicles pose for causing extreme damage. There are multiple factors considered when determining a settlement amount for a truck accident.
Liability
Liability is the main factor when deciding what a truck accident settlement should be. Liability dictates who was at fault for the accident. When the fault is determined, that party is responsible for compensating any costs associated with the damages the accident caused. Because there are legal defense options in these cases, comparative fault and contributory negligence, you will want a truck accident attorney working with you to protect your rights and ensure you receive a fair settlement.
Injuries
The severity of the injuries suffered is another significant factor when determining a settlement amount in a truck accident. The severity will increase the value of a final settlement amount. If a person has died as a result of the accident, there can be a substantial increase in the settlement. To ensure you receive a fair settlement amount, you should hire a truck accident attorney, as there are many areas of these claims where legal representation is beneficial.
Insurance Policy
The last factor used in determining a settlement amount for a truck accident is the insurance policies. A trucking company can operate with only minimal insurance coverage. If this is the situation with the company you've had an accident with, the amount of compensation you deserve could exceed their policy's limits. Having a truck accident attorney working on your case can help you learn if state or federal laws pertain to your case. These laws can mandate a higher settlement amount.
Because your injuries resulting from a truck accident could result in lifelong health issues, you want the best settlement amount available. If this accident is due to negligence, you want an aggressive attorney fighting to protect your rights and your future. Truck accidents quickly become complicated because of the different parties who can be held liable for the accident. Hire a truck accident attorney who understands the personal injury laws of Illinois and understands how to obtain the best settlement for you.
