What Is the Average Settlement for a Commercial Truck Accident?

What is the average settlement for a commercial truck accident? Commercial truck accident settlements vary widely based on the severity and cause of the accident, leading each case to differ from the last. 

There are numerous factors that contribute to the average settlement in your accident, and an experienced Rhode Island truck accident lawyer can be of assistance.

The Severity of Your Injuries

One of the most impactful factors in valuing a commercial truck accident settlement amount is the complexity and severity of your injuries. This applies to the type and level of injury, but also to the impact it will have on you in the short and long term. Injuries that are more severe are likely to result in a higher settlement value. This may include injuries such as:

• Traumatic brain injuries with cognitive function impact
• Spinal cord injuries with temporary or permanent loss of mobility
• Lacerations and wounds requiring surgical treatment
• Amputations of digits or limbs
• Scarring and other disfigurements
• Internal organ injuries
• Broken and crushed bones requiring surgery

If you have minor injuries, expect your commercial truck accident settlement to be less, often $50,000 to $200,000. If you have severe injuries like those listed above, your damages could be in excess of $1 million, depending on the specifics. Keep in mind that some of the largest cases are worth significantly more due to the complex medical care required. Talk to a Rhode Island personal injury lawyer today.

Permanence of Your Injuries and Losses

Your commercial truck accident settlement may be worth more if your losses impact your future in numerous ways. The more ways we can demonstrate that it will impact you, the higher the value of your claim. It is critical to consider all aspects of this incident and how it will play a role not just now but into the future. Here are some examples:

• Ability to work: Some victims may not be able to work again. Others may need vocational training to learn a new trade if they cannot do the same job due to their injuries.
• Relationships: Loss of consortium and your ability to participate in healthy relationships because of your mental and emotional health could be a factor.
• Quality of life: Many commercial truck accidents create significant changes in mobility, mental health, and emotional well-being, all of which impact your ability to engage in life as you have been doing.
• Disability: Some injuries result in loss of mobility, not only impacting your ability to move and work but also leading to the need for ongoing in-home support and special equipment.
• Catastrophic losses: Truck accidents that cause a loss of hearing or vision, or those that lead to permanent mental incapacitation, are valued higher than those that do not have these types of long-term implications.

Many injuries lead to months of rehabilitation, but the victim heals. For those with permanent implications, the ability to recover more of the damages owed to you is critical. Expect to receive a higher value if you are going to suffer long-term.

Type of Medical Care You Need

The value of your commercial truck settlement is also impacted by the actual type of medical care you need. It is always advisable to seek all care recommended to you by your doctor and specialists. Document all types of care, testing, and evaluations you have.

If you need surgeries, long-term hospital stays, long-term inpatient rehabilitation, or other invasive treatments, you can expect your settlement to be higher to cover these costs. You also may have higher costs if you need reconstructive surgeries in the near future to recover.

Do not overlook the importance of emotional and mental health treatment as well. Victims often face emotional trauma with the onset of post-traumatic stress disorder, anxiety, and depression as a result. These conditions necessitate ongoing compensation for care.

Insurance Coverage

Another factor that you may not have thought about is insurance coverage, or the amount of coverage available to you to file a claim against. Trucking companies and driver insurance policies are typically robust, but they are limited to a top figure. If the losses you have are more than that value, then your settlement may be impacted by those limitations.

Note, though, that your commercial truck accident attorney will work to help you maximize your claim in several ways. That includes demonstrating all parties who are responsible for your injuries and losses, which is often more than just the truck driver. This opens up additional availability insurance lines to protect your rights.

Additionally, in cases where there is obvious reckless behavior or intentional actions, punitive damages may be awarded to you. These damages are a form of punishment the court awards to deter the trucking company or driver from engaging in actions like this in the future. Though rarely awarded, it could impact the value of your case when applicable to you.

Additional Factors

Various other factors play a role in the value of the commercial insurance settlements you are eligible for, and with your attorney by your side, you will have a good idea of what those are. Some of the most common additional factors that play a role in the value of your settlement include:

• Any responsibility you hold for the accident could reduce the compensation available to you
• The pain and suffering you have and can demonstrate through the impact on your life
• Loss of wages, based on your ability to go back to work, but also on the type of work and your earnings
• Where you are located and the cost of living in those areas

In addition to these factors, the value of many commercial truck accident settlements comes down to the ability of your attorney to create a robust claim that is inclusive of your losses. You cannot assume that all legal representation is equal here. Speak with a Rhode Island wrongful death lawyer today.

Set Up a Free Consultation to Learn the Value of Your Commercial Truck Accident Settlement

Average commercial truck accident settlements are not a given figure, and the value of them is very much determined by how well you can demonstrate your loss. 

With the help of a truck accident lawyer from Gemma Law Firm, you gain better insight into what your case may really be worth.