Semi-truck accidents are traumatic and dangerous events that can result in serious injuries. If you or a loved one has been injured or lost property in a semi-truck accident, you may be entitled to a semi-truck accident settlement. These settlements, however, are not fixed amounts and may vary greatly depending on several variables.
What Is the Average Semi-truck Accident Settlement?
In most cases, large settlements are hard to come by when it comes to semi-trucks and liability lawsuits. However, there are exceptions to this rule. An experienced attorney can help you determine what type of semi-truck accident or injury you have suffered and how much money you may receive in compensation. This amount may range anywhere from $20,000 up to seven figures, depending on the circumstances of your case.
What Are the Factors That Affect Semi-truck Accident Settlement?
- Liability: Who was at fault in the accident? Who was driving the truck?
- Injuries: Are you currently suffering from physical injuries that are debilitating or painful? If yes, how long do you expect them to last? Do you have any mental or psychological problems resulting from this accident? Traumatic brain injury, TBI, spinal cord injury, and concussion usually add additional medical bills that result in a higher settlement amount.
- Insurance: What insurance coverage do the trucking company and its drivers have? Does the collision policy include semi-trucks? Does it cover medical bills, lost income, pain and suffering, and permanent injuries? What is the company’s deductible?
- Court Proceedings: How much can you expect to receive if you take this case to court? The truck attorney may guide their client through the settlement process and bring their case to court if they believe this is the best option.
These factors may result in higher compensation depending on how well a truck accident lawyer can present his case.
Semi-truck accident settlements may be far less than the fair compensation amount. For those injured and seeking compensation, it is important to hire an experienced truck accident attorney who can guide them throughout the process in making sure that they get the maximum compensation possible.