Truck crash injury settlements can be very different depending upon your individual circumstances. A few truck crash injury settlements may settle for as little as a few thousand, but others may settle for hundreds of thousands. The dollar figure you receive ultimately depends on the extent of your physical injuries, how the collision occurred, the amount of insurance coverage available, and whether or not you have sufficient evidence.
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Understanding Truck Accident Settlement Amounts
Compared to typical automobile collisions, truck crashes may involve more severe injuries and higher available insurance limits, which can affect potential settlement value depending on the facts of the case. Under federal law, certain commercial motor carriers must maintain minimum levels of financial responsibility, commonly ranging from $750,000 to $5 million depending on the type of operation and cargo being transported. Due to this, there may be more money available in truck-related collision claims than in auto-accident-related claims.
Unfortunately, due to the uniqueness of each case, there is no standard verifiable settlement range that we can apply to every Texas truck accident claim as of this article’s last edited date. To determine an appropriate value for your truck accident injury settlement, you will need to consider all past and future expenses associated with your collision, including your medical bills, loss of income during your time off work, your diminished ability to earn income after returning to work, and finally, compensation for your pain and suffering. Truck accident settlements can vary widely depending on the severity of the injuries, liability, available insurance, evidence, and other case-specific factors.
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Factors That Determine Your Settlement Value
There are several factors that impact how much money you can recover from your truck crash claim. First and foremost, the severity of your injuries has the greatest influence. For example, Fractures, burns, internal injuries, and permanent disability may increase potential settlement value when liability, causation, and damages can be established. Secondly, your likelihood of recovering money for your truck collision claim will depend on who was liable for your injuries. If it is clear-cut that the truck driver was at-fault through reckless behavior, such as speed, fatigue or disregard for traffic regulations, that evidence may strengthen your claim.
Conversely, if you bear partial responsibility for your injuries, your damages may be reduced by your percentage of responsibility, and a claimant found more than 50% responsible generally cannot recover damages under Texas law. Thirdly, the existence of insurance policy limits creates a cap on how much money you can collect. No matter how serious your damages are, Insurance policy limits can restrict how much a particular insurer will pay, but additional recovery may be available from other applicable insurance, legally responsible parties, or other collectible sources depending on the circumstances.
Lastly, the quality of your documentation also affects the potential value of your truck collision claim. Documentation in the form of medical records, photographs, witness statements, police reports, and expert opinions can help support your claim and provide a stronger basis for settlement negotiations.
How Much Are Most Truck Accident Settlements?
Unfortunately, as stated before due to the uniqueness of each case, there is no standard and verifiable settlement range that we can apply to every Texas truck accident claim as of this article’s last edited date.
Generally speaking, on personal injury cases involving typically minor accidents where individuals suffer bruising, whiplash or soft-tissue injuries are typically settled on the lower side. Moderate accidents resulting in broken bones, cuts that require stitches or those requiring surgery tend to fall in the middle. Finally, serious accidents that cause permanent injury, disability or death can result in the largest settlements, depending on the evidence supporting the claim, available insurance, and liability.
It is essential to note that settlement figures mentioned here are settlement examples, not jury verdicts. If you have any further questions regarding this topic, don’t hesitate to call us here at Wyly & Cook.
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As with lots of personal injury claims; including truck accident claims, many resolve through settlement before trial. Both parties may typically prefer to avoid the uncertainty and cost involved with going to trial, although it’s important to note some do proceed to trial.
When you accept a settlement check of $100,000 for your truck crash claim, you do not receive the entire check. There are various deductions made from your final payment check. Your attorney’s fee will depend on the percentage stated in your written contingency-fee agreement, which may provide different percentages depending on how the case is resolved.
Healthcare providers also have rights when it comes to reimbursement for their services. Certain healthcare providers, insurers, or benefit plans may have lien, reimbursement, or subrogation rights that must be addressed from settlement proceeds, depending on the circumstances. The amount owed by healthcare providers can range from a few thousand dollars to tens of thousands of dollars, based upon the number and complexity of treatments received.
Keep in mind, case expenses are also subtracted from your original settlement amount. Case expenses include costs incurred by your attorney prior to settling or winning your case, these include filing fees, expert witness fees, medical record retrieval and investigative fees. Case expenses vary substantially depending on the needs of the particular case.
How Much Should I Ask for When Negotiating Settlement?
Calculating what you want to get out of settlement talks involves much more than picking a number that looks good. To make an educated decision regarding settlement demands, you need to calculate your actual damages and assess the reasonable value of your case.
first, add up the total dollar amounts of all of your economic damages. These include:
- past and future medical treatment
- lost income (past & present)
- reduced ability to earn money in the future
- property damage (e.g., damaged vehicles, buildings etc.)
- other costs associated with the accident such as: gas to go back and forth to doctor visits; parking fees; other miscellaneous items.
These are all documented and easily quantifiable through receipts, bills and other forms of proof.
Secondly, you need to factor in your non-economic losses. Non-economic losses are generally easier to identify but difficult to quantify. Examples include:
- pain and suffering
- emotional distress
- loss of enjoyment of life
- disfigurement
Non-economic damages may be estimated using a “multiplier” method. For example: if your economic damages were $10,000, you may use a multiplier of 2.0 to estimate non-economic damages of $20,000. Multipliers can vary depending upon the severity of your injuries. More severe and/or permanent injuries support higher multipliers.
Initial settlement demands should be greater than what you would ultimately be willing to accept because insurance companies expect you to reduce your demands during the negotiation process. Therefore, an initial settlement demand may exceed the amount you ultimately would want; the true amount of what your case is worth should be based on the evidence, applicable damages, available coverage, and the specific circumstances of your case.
Hiring a knowledgeable truck accident attorney can help you develop an educated assessment of how much to request in a settlement. Your attorney knows what previous truck accident cases have been resolved for in your community and can provide guidance on how to fairly value your case based on years of experience working on cases like yours.
How Are Truck Accidents Cases Different from Car Accident Cases?
Another important distinction between truck accident cases and auto accident cases relates to federal regulation of the trucking industry. Federal regulations establish various standards relating to safety and efficiency including the amount of time a truck driver can operate during a specific period of time (“hours of service”), record keeping requirements (“log books”) requiring truck drivers to document their driving activity over a certain period of time, and periodic medical evaluations for truck drivers.
Violations of federal regulations establishing minimum levels of safety and operational efficiency may provide evidence supporting claims against a driver, motor carrier, or other responsible party when the required elements of liability and causation can be established. These regulatory violations provide further evidence supporting the claimant’s assertion that his/her injuries were caused by negligence and/or recklessness on behalf of the defendants.
Finally, unlike auto accident cases where liability is usually limited to the single individual operating the vehicle responsible for causing the accident, multiple entities may be liable in a truck accident case. Liability may extend beyond the driver himself/herself and into the ownership structure of the truck itself, extending to any entity responsible for maintaining the vehicle (e.g., repair shop), ensuring compliance with applicable laws governing hours of operation (e.g., transportation company), and securing payment for goods transported (shipper). The increased number of potentially responsible parties may provide additional avenues for recovery if liability and available sources of compensation can be established.
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Although there are no guarantees regarding minimum settlement values for truck accident cases, having a solid understanding of the elements that impact these cases places you in a stronger position to seek fair compensation. The extent and nature of your injuries, the evidence supporting your case, available insurance coverage, liability, and other case-specific circumstances can affect the outcome of settlement negotiations.
You shouldn’t accept an insurance company’s first offer without consulting with a lawyer. First offers may not be accurate representations of your case value. Insurance adjusters rely on accident victims not being aware of this fact and accepting lower-than-worthful settlements simply to meet immediate financial obligations.
Collect all information relevant to your accident and subsequent injuries. Maintain duplicate copies of all medical records, bills, communications with insurance companies, photographs depicting your injuries and/or accident scene(s), and a journal detailing how your day-to-day life has been affected by the accident. Collecting this data will become critical evidence supporting your claim.
Most importantly, schedule an appointment with one of our attorneys representing clients involved in truck accidents prior to taking any action with regard to your case. Attorneys providing representation for people injured in truck accidents often work on a contingency-fee basis, meaning the attorney fee depends on obtaining a recovery, subject to the written agreement and any responsibility for litigation or other case expenses. Most attorneys offering initial consultations do so without charging a fee. Experienced lawyers will review your case details and explain the alternatives available to you while advocating for your compensation supported by the facts and applicable law. Although there isn’t a minimum settlement amount associated with truck accident cases, employing the proper strategy will enable you to pursue reimbursement consistent with what was lost.
