How Much is the Average Truck Accident Settlement Worth?
If you have been hurt in a truck accident caused by another party’s negligence, you can file a claim against them to recover compensation. It is natural to wonder how much you will be able to claim in a truck accident case. No two truck accident cases are exactly alike and there are several factors that will determine the value of your truck accident claim. Still, there are some guidelines you can follow to estimate the value of your case. Below, our San Antonio truck accident lawyer explains what these are.
Average Truck Accident Settlement Amounts
No one can determine the exact amount of your potential truck accident settlement without first fully reviewing the facts of your case. Generally speaking, however, truck accident amounts usually fall within the following ranges:
- Minor injuries: Settlements for minor injuries, such as whiplash and sprains and strains that resolve over a short period of time, typically range between $20,000 and $75,000
- Moderate injuries: Injuries that are more moderate can result in a settlement between $75,000 and $750,000
- Catastrophic or severe injuries: Catastrophic injuries, such as amputations and paralysis, can result in settlement amounts between $750,000 and to tens of millions of dollars (depending on the amount of insurance coverage).
Factors Impacting Truck Accident Settlement Amounts
There are many different factors that impact truck accident settlement amounts. These include:
- Severity of injuries: The severity of injuries is the largest factor that influences a truck accident settlement amount. The more severe the injuries sustained, the more losses a person will incur, including medical expenses, lost income, pain and suffering, physical impairment, and loss of enjoyment of life.
- Degree of fault: If another party or multiple parties are clearly liable for the crash, this can result in full compensation. If the accident victim is partly at fault, that will reduce the total compensation they receive by the percentage of fault attributed to the accident victim.
- Insurance policy limits: Insurers are only responsible for paying up to the policy limits. However, truck drivers, trucking companies, and truck manufacturers typically have large insurance policies ranging between $750,000 to $5 million. Identifying multiple parties can also help you secure a fair settlement.
How Maximize Settlement Amounts After a Truck Accident
There are many ways to maximize your settlement amount for a truck accident. The first of these is to gather strong evidence that proves your case. The strongest evidence in truck accident claims is often police reports, witness testimony, medical records, and black box data from the truck.
Understanding the tactics insurers use to reduce and deny claims is also helpful when maximizing a settlement amount. If the adjuster offers a settlement right away, it is likely a lowball offer that will not cover all of your losses. They may also dispute the cause of the crash, or who is at fault, to delay and reduce your claim. If the insurer refuses to make a fair offer, you may have to file a lawsuit to obtain fair damages.
Our Truck Accident Lawyer in San Antonio Can Value Your Claim
When trying to obtain damages after a truck accident, it is important to work with a San Antonio truck accident lawyer. At the Law Office of Israel Garcia, our experienced attorney can accurately value your claim and negotiate with the insurer on your behalf to prove your case. Call us today at 210-LAW-9999 or contact us online to schedule a consultation and to learn more.
Source:
statutes.capitol.texas.gov/Docs/CP/htm/CP.41.htm
