If you’ve been involved in a truck accident, you could be eligible for thousands of dollars in compensation from those at fault. If you’re successful, the figure you receive is dependent on a number of key factors that vary from case to case.
Without all of the details of your case, we can’t provide accurate figures of what to expect. However, we’ve outlined some of the factors that affect the fee you’ll receive which you can use as a kind of truck accident settlement calculator.
- Severity of Injuries
- Existing Policies
Who is to blame for the accident? Are there multiple defendants who need to be settled with separately? Mississippi is a no-fault state that adheres to the pure comparative negligence system. This is where damages can be deducted from a claimant or defendant depending on the impact they had on the accident.
For example, if the total settlement amount is $100,000 but you are found to have been 25 percent at fault for the accident, you’ll receive $75,000 rather than the full amount. If you know that you contributed to the accident taking place, you’ll need to deduct this percentage from the final damages.
Severity of Injuries
Incidents involving trucks usually result in significant injuries for those involved. The size and weight of the truck mean that even smaller incidents can produce devastating and life-changing injuries.
Before the settlement process can even begin, the claimant needs to have either fully recovered or have reached maximum medical improvement. This means they may still need additional treatment but might not be able to fully recover.
Lawyers often need to speak to surgeons to determine the costs of future procedures if legal proceedings have already begun. Always keep a full list of the amount you’ve needed to spend on medical bills as a result of the accident.
One claimant received $275,000 after needing surgery on a shoulder injury following a collision with a tractor-trailer.
A plaintiff that was struck head-on by a semi-truck suffered two broken legs and required multiple surgeries and lengthy rehabilitation in order to walk again. She received a settlement of $1,850,000.
In one instance, a semi-truck hit a person due to a defective part. The claimant was very seriously injured and needed to have a leg amputated. He was awarded a settlement of $3,750,000.
It can be a little cold and calculating to say, but the more severe your injuries are, the more likely you are to receive a large payout from those at fault.
One in 10 of the deaths that take place each year on US roads involves a truck. Smaller vehicles can’t compete with the weight of trucks as they’re usually 20-30 times lighter. Heavy trucks and tractor-trailers often have poor braking distances, especially in bad weather, and can’t stop in time.
Accidents that involve deaths often lead to wrongful death lawsuits. If proven, those liable are forced to pay compensation for pain and suffering, loss of love and companionship, medical and funeral costs, and loss of income.
If you’ll be claiming on behalf of a loved one that died in the accident, the compensation you’ll be eligible to receive will increase. The damages received for fatal accidents vary depending on the circumstances involved.
However, the average settlement figure tends to be much lower because most insurance policies aren’t large enough to cover this fee and there can be a cap on pain and suffering damages.
The average commercial truck company operating in the US has around $1 million worth of liability coverage. Trucks may be covered by more than one policy so it can often be difficult to get your head around.
The existing policies held by the truck organizations determine how much money can be claimed. State regulations also come into play here so it’s important to seek professional advice so you understand exactly what’s happening.
No two cases are ever the same and there are a number of things that you can claim for if you’ve been involved in a truck accident.
When deciding on the final settlement figure that claimants receive, the following issues are taken into account:
- Medical bills
- Loss of wages whilst recovering from injuries
- Loss of earning potential
- Property damage
- Loss of companionship
- Pain and suffering
There are so many variables in play when it comes to determining the final figure that you may receive. This is why it’s so difficult to create a truck accident settlement calculator as every case is slightly different. The only way to really know how much you could claim is by speaking to an attorney.
Start Your Truck Accident Claim
For expert advice on truck accident settlements, don’t hesitate to get in touch with a member of the Coxwell & Associates team. We’ve been helping people from across Mississippi to receive the compensation they deserve if they’ve been involved in a serious truck incident. Why not download our free guide for everything you need to know about making a claim.
Disclaimer: This blog is intended for general information purposes only, and is not a substitute for legal advice. Anyone with a legal problem should consult a lawyer immediately.