If you or a loved one has been gravely harmed in a truck accident, you may be facing immense physical, emotional, and financial challenges. Many accident victims begin to wonder what the average settlement is for an 18-wheeler accident.
In many cases, the only path to obtaining justice and the compensation needed is pursuing an injury claim or wrongful death lawsuit against the negligent trucking company, driver, or other liable parties.
The truth is, there is no real number. Average truck accident settlements span a broad range, but our Charlotte truck accident lawyers can help you understand the key factors that influence payout amounts and can help manage your expectations.
Determining Settlement Values
Because no two trucking collisions are identical, predicting an “average” settlement figure is difficult. A multitude of distinct factors create wide variability in the appropriate compensation for each case.
Our lawyers will evaluate the specific factors of a claim and make a detailed accounting of all losses to ensure you are pursuing the maximum compensation possible. Some of the most impactful considerations include:
The Severity and Type of Injuries
More catastrophic injuries involving permanent disability, paralysis, traumatic brain injury, organ damage, etc., warrant significantly higher compensation compared to less severe harm like bone fractures or soft tissue injuries.
Cases resulting in wrongful death also tend to yield substantial settlement amounts to account for loss of future earnings, loss of consortium, and other profound losses.
Clarity and Extent of Liability
Cases where liability for the trucking company or driver is clear-cut and indisputable, such as driving while fatigued/impaired, recklessly excessive speeding, or egregious violations of safety regulations, generally lead to much higher payouts during settlement negotiations.
Liability that is murky or contested can lead to more protracted disputes and lower settlement values. This is why it is so important to work with a Charlotte personal injury attorney who is experienced in dealing with commercial truck accident claims.
The Defendant’s Insurance Policy Limits
While many commercial trucking companies carry multi-million dollar liability insurance policies, those coverage caps can restrict the maximum possible settlement amount in certain catastrophic scenarios. Cases involving permanent disabilities or wrongful death often exceed typical policy limits.
This is why our attorneys search for every avenue of coverage and pursue all negligent parties.
Availability of Other Compensation Sources
In addition to the trucking company’s insurer, other parties, like parts manufacturers, loading companies, vehicle lessors, etc., may also bear liability, expanding potential sources of compensation.
Quality of Legal Representation
Having a strong personal injury law firm with a reputation for relentless advocacy and achieving record-setting verdicts and settlements positions you for optimal leverage during negotiations. Our firm has the resources, cutting-edge technology, and willingness to take cases to trial, which signals strength.
Defendant’s Settlement History
Some trucking companies have established patterns of refusing reasonable settlement offers and pushing cases to trial, while others are more amenable to negotiating appropriate resolutions to avoid runaway jury verdicts.
While broad statistics on average payouts provide rough baselines, this complex array of factors creates immense variance in individual cases.
Having an experienced trucking accident law firm evaluate the details of your unique situation is crucial for determining an appropriate target settlement range and comprehensive legal strategy.
For a free legal consultation, call (877) 333-1000
Economic and Non-Economic Damages
To better understand typical trucking accident settlement amounts, it’s helpful to examine the distinct categories of compensable damages recouped:
Economic Damages
These objectively quantifiable losses include:
- Past and Future Medical Costs: All accident-related expenses like ambulatory care, surgeries, hospitalization, medications, rehabilitative therapies, medical equipment, in-home care assistance, etc.
- Lost Income: Recovering wages, salaries, benefits, and projected future earnings and career opportunities forfeited due to accident-related disabilities.
- Property Damage: The cost of repairing or replacing the damaged vehicle.
Non-Economic Damages
These subjective, non-monetary losses are also recoverable:
- Pain and Suffering: Compensating accident victims for the physical agony, emotional trauma, and diminished quality of life caused by severe injuries. Spouses can also claim loss of consortium damages.
- Punitive Damages: In cases of gross negligence or willful misconduct by the truck driver or trucking company, additional punitive damages aimed at punishment and deterrence may be awarded on top of compensatory damages.
When potent economic losses like future health care needs, lost income capacity, and extensive property damage intersect with life-altering pain and suffering, trucking accident settlements often climb into the millions.
An appropriate and just settlement amount reflects the total of both economic and non-economic damages stemming from the trucking company’s negligence.
How Much does a Truck Accident Lawyer Cost?
Our attorneys work on a contingency fee basis. This means our legal fees are contingent upon winning your case – you pay nothing upfront.
Instead, the lawyer receives a percentage of the final settlement or court award as their fee for representing you. It allows injury victims access to the legal representation they need, and It incentivizes the lawyer to fight tirelessly for maximum compensation since their pay correlates directly with your recovery amount.
Contingency fees enable access to legal representation regardless of your current financial situation. With no upfront retainer or hourly billing, every injury victim can secure advocacy.
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Contact Us to Learn More About an 18-Wheeler Accident Settlement
Determining a fair 18-wheeler accident settlement is an intricate process requiring considerable legal experience. Our trucking accident attorneys have secured numerous multi-million dollar verdicts and settlements through meticulous case building and aggressive negotiations.
We understand the complexities of assigning liability, calculating damages, overcoming policy limits, and positioning for maximum payouts. If you or a loved one suffered truck accident injuries, contact DeMayo Law for a free, confidential consultation.
We can evaluate your unique situation, explain realistic settlement expectations, and outline the strongest path forward to recover the compensatory damages you deserve.
Call or text (877) 333-1000 or complete a Free Case Evaluation form
