The value of most truck accident settlements in North Carolina can vary widely. Settlements often range from tens of thousands to millions of dollars, depending on factors like the severity of injuries, the extent of property damage, and who was at fault.
While there’s no exact number that applies to every case, the goal is to secure compensation that covers your medical expenses, lost wages, pain and suffering, and other damages caused by the accident.
If you’re wondering how much your settlement could be worth, our North Carolina truck accident lawyers have the information you need to understand what impacts the value of a claim.
What Determines the Value of a North Carolina Truck Accident Settlement?
Every truck accident is unique, which is why settlements can vary so much. Here are some key factors that influence the amount of compensation you may be entitled to:
- Severity of Injuries: Settlements are often higher for severe or life-changing injuries, such as spinal cord damage, traumatic brain injuries, or amputations. These injuries require extensive medical care and may lead to long-term disability, which increases the value of your claim.
- Medical Expenses: The cost of your medical treatment, including hospital stays, surgeries, medications, physical therapy, and future care, plays a significant role in determining your settlement.
- Lost Wages and Reduced Earning Capacity: If your injuries prevent you from working temporarily or permanently, your settlement will likely include compensation for lost income and any future loss of earning potential.
- Pain and Suffering: Non-economic damages, such as the physical pain and emotional trauma you’ve endured, are also considered. These damages are harder to calculate but can significantly increase the value of your claim.
- Property Damage: If your vehicle or other property was damaged in the crash, the cost of repairs or replacement will be factored into your settlement.
- Liability and Negligence: The settlement amount may depend on who is found to be at fault for the accident. If the trucking company or driver violated safety regulations, for example, it could strengthen your case and lead to a higher payout.
- Insurance Policy Limits: Truck accident settlements are often influenced by the insurance policies in place. Commercial trucking companies typically carry higher policy limits than personal auto insurance, which can lead to larger settlements.
Contributory Negligence in North Carolina
North Carolina follows the legal doctrine of contributory negligence, which means that if you are found to be even 1% at fault for the accident, you may be barred from recovering any compensation. This strict rule can significantly impact the value of a truck accident settlement.
For example, the trucking company or their insurance provider may try to argue that your actions—such as speeding, failing to signal, or not following traffic laws—contributed to the crash. Because of this, it’s critical to have strong evidence that demonstrates the other party’s fault and absolves you of any liability.
An experienced North Carolina personal injury lawyer can help protect your claim by thoroughly investigating the accident, countering unfair blame, and ensuring your rights are upheld under North Carolina’s contributory negligence laws.
For a free legal consultation, call (877) 333-1000
What Is Included in a Truck Accident Settlement?
A truck accident settlement is designed to compensate you for both economic and non-economic damages. Here’s what it may cover:
- Current and future medical bills
- Lost wages and reduced earning potential
- Pain, suffering, and emotional distress
- Property damage
- Rehabilitation and therapy costs
- Loss of enjoyment of life or companionship (in cases of severe injuries or death)
Is There an Average Settlement Amount?
It’s difficult to pinpoint an “average” settlement amount for truck accidents, as cases vary so widely. Minor accidents with no serious injuries may settle for less than $50,000, while cases involving catastrophic injuries or wrongful death can result in settlements of $500,000 or more.
In some cases, settlements may reach into the millions if the accident caused severe harm and involved egregious negligence, such as a truck driver under the influence or a company failing to maintain its vehicles.
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How Long Does It Take to Reach a Settlement?
The time it takes to resolve a truck accident claim varies based on the details of the case. Some claims can be settled in just a few months, while others—particularly those with serious injuries or contested fault—may take a year or longer.
Although it’s understandable to want a swift resolution, settling too quickly might mean receiving less compensation than you’re entitled to. Taking the time to thoroughly evaluate your case can lead to a more favorable outcome.
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How Can You Maximize Your Settlement?
If you’ve been injured in a truck accident, there are steps you can take to strengthen your case and increase the likelihood of a fair settlement:
- Seek Medical Attention: Always prioritize your health and create a documented record of your injuries.
- Preserve Evidence: Gather as much evidence as possible, including photos of the accident scene, witness contact information, and police reports.
- Avoid Speaking to Insurance Adjusters: Insurance companies may use your statements against you. Let an experienced attorney handle all communications.
- Work With a Truck Accident Lawyer: A knowledgeable attorney can investigate your case, gather evidence, and negotiate aggressively on your behalf.
Get the Guidance You Need
Truck accident claims can be complex, but you don’t have to go through this alone. An experienced attorney can help you understand your rights, calculate the full value of your claim, and fight for the compensation you deserve.
At DeMayo Law Offices, we’ve helped countless truck accident victims across North Carolina recover compensatory damages and settlements they need to rebuild their lives. If you’re ready to take the next step, contact us today for a free consultation. We’re here to help you every step of the way.
Call or text (877) 333-1000 or complete a Free Case Evaluation form
