Truck accident cases are often complex, involving multiple parties and severe injuries. With mounting medical bills and the sobering reality of lost wages, victims must pursue compensatory damages to keep their heads above water.
Understanding how much compensation they can obtain can offer hope in dire circumstances. This article will provide a comprehensive guide on how to calculate truck accident settlements.
What Is the Average Truck Accident Settlement?
Truck accidents are often devastating, which is why they can fetch high settlements. On average, victims receive anything from tens of thousands to millions of dollars. The compensation awarded will depend on a variety of factors, such as the severity of the injuries sustained.
How Truck Accident Settlements Are Calculated in NY
In general, a personal injury settlement amount is determined by totaling the damages incurred. This includes both financial losses, such as lost wages, and non-economic damages, such as pain and suffering. While many expenses can be determined quite easily, others are not so straightforward to calculate.
Damages Available to Truck Accident Victims
The section below provides an overview of the types of damages available to claimants.
Economic Damages
Economic or special losses are those that incur calculable expenses. Usually, bills or receipts can be produced as proof. Here are some examples of such damages:
Medical expenses. All personal injury cases are centered around injuries, and truck accidents are no different. In order to qualify, a victim must have suffered physical harm. To obtain medical expenses, bills from the hospital, doctor, and/or physical therapist can be produced.
Lost wages. When a person is stuck in bed recovering from a broken bone or internal bleeding, they will not be able to work. This results in reduced income. Victims can add this to their list of damages and present proof of their income to qualify.
Property damage. Truck accidents often result in irreparable damage to the affected vehicles. The cost of a repair or replacement is often included in truck accident settlements. Moreover, the loss of the contents of the vehicle can also be added to the claim.
Future medical expenses and lost income are also added to personal injury lawsuits. This will ensure that the victim receives compensation for expenses that they have not incurred yet but will certainly be subjected to in the foreseeable future because of the accident.
Non-economic Damages
In addition to financial losses, severe injuries can also cause a person to suffer physically and emotionally. The following can also be included in a truck accident claim:
Pain and suffering. This accounts for the mental and physical pain a person may have suffered as a direct result of the truck accident.
Emotional distress. A car crash can be incredibly traumatic for a victim, resulting in post-traumatic stress disorder (PTSD), depression, and more. The law allows claimants to obtain financial compensation for these damages.
These losses are often much harder to prove. However, a doctor's insights, the testimonies of family members, and other evidence can help victims secure the amount they rightly deserve for these damages.
Punitive Damages
Although they are not always awarded in personal injury cases, punitive damages can increase the amount that a person receives following settlement negotiations. In some cases, the court will award this type of compensation to punish the defendant for their actions.
If the truck driver was intentionally negligent and demonstrated a sheer disregard for the safety of others, punitive damages may apply.
To learn more about the possibility of this additional compensation being added to the overall settlement amount, victims are encouraged to talk to an experienced personal injury lawyer. They can provide information on how car accident settlements are calculated in NY as well.
Wrongful Death Damages
Sadly, some victims succumb to their injuries and lose their lives because of someone else's negligence. Fortunately, the law allows their immediate family members to file a legal claim for damages on their behalf. They can obtain funeral and burial costs, loss of consortium damages, and many more.
While pursuing compensation will not bring their loved one back, it will hold the at-fault party liable for their actions, ensuring that justice is met.
How Pain and Suffering Damages Are Calculated
There are two methods used to determine the pain and suffering damages in a truck accident case:
The Multiplier Method
With this method, the victim's economic damages are multiplied by a certain number. In most cases, it is between 1.5 and 5. The appropriate multiplier used in a calculation will depend on the nature of the injury, how long the person took to recover, and other similar factors.
The Per Diem Method
Another way that pain and suffering damages are calculated involves the use of a daily rate. The number of days that the victim experienced the associated symptoms is then multiplied by this rate to arrive at the total damages.
What Factors Influence the Amount Awarded?
Several factors determine how much a person receives in a truck accident claim. Understanding them can offer claimants a more accurate picture of what to expect.
The Severity of the Injuries Sustained
More serious injuries will undoubtedly increase the value of a claim. That's because more medical bills are involved, increasing the associated economic and, subsequently, non-economic damages.
Fault
New York has a comparative negligence law, which allows injured parties to obtain compensation even if they were also at fault. This means that if a motorist was traveling over the speed limit and crashed into a truck driver who ignored traffic signals and was operating the vehicle while under the influence, they can still file a claim for damages.
However, the truth is that the amount that they receive will be reduced by their percentage fault. So, if the individual from the example above is assigned 40% of the blame, they will only receive $60,000 of a $100,000 claim.
The Quality of Legal Representation Available
It's important to note that not all personal injury lawyers are the same. Some have been in the industry for a long time and have an impressive success rate, while others do not. Experienced truck accident attorneys can offer strong negotiation skills, ensuring that their clients get the highest possible commercial truck accident settlements.
Insurance Coverage Limitations
If a victim has serious injuries and the total value of their claim exceeds insurance policy limitations, it could affect the amount they receive. In such cases, they can take legal action to ensure that they receive fair compensation.
The Importance of Hiring an Experienced Truck Accident Lawyer
Filing a truck accident lawsuit can be incredibly daunting. Fortunately, when victims have a reliable advocate on their side, they can effectively navigate the legal landscape and secure a favorable outcome. For more information, contact our lawyers.
An Attorney Can Help to Determine the Value of the Claim
Calculating total damages can be incredibly challenging without help. Lawyers have lots of experience and will ensure that their clients know what to expect. They understand how non-economic damages are calculated and will ensure that both past and future expenses are taken into consideration.
Expertise in Trucking Regulations
One of the key components of truck accident cases is regulations. Having a good understanding of the associated rules can provide critical insight into liability. An experienced personal injury attorney brings this expertise to the table, giving victims a fighting chance at compensation.
Excellent Negotiation Skills
In order to ensure a favorable settlement amount, it's important for claimants to have a trusted advocate on their side who is a skilled negotiator. They can fight to ensure that the victim is not forced into a low offer and present evidence to back up claims for a higher settlement.
Lawyers Work in Their Clients' Best Interest
Truck accidents can be traumatizing. In the wake of a disaster, it helps to know that someone is on the victim's side. While the insurance company may try to convince them to settle for a ridiculously low amount, an attorney works to ensure that they receive the amount they are rightly due. They can also assist with how motorcycle accident settlements are calculated in NY.
Representation in Court
Although most cases are handled through negotiation, some are handled in court. This is usually the case when the parties involved cannot reach an agreement. A truck accident lawyer will provide rigorous representation in court, ensuring that sufficient evidence is presented to back up the claim.
The Bottom Line
Truck accidents are often more devastating than other types of traffic incidents. That's because larger vehicles result in a greater force of impact. When an 18-wheeler creams into a passenger car, those within can be subjected to severe trauma.
The reality is that multiple parties can be held liable for the resultant damages. However, a major organization, such as a trucking company, will likely have large legal teams to protect them against liability.
This is why enlisting the help of a renowned commercial truck accident attorney is critical. The Law Office of Carl Maltese has secured millions of dollars in settlements for victims of personal injuries.
Since 1966, we have been a legal team that injured victims can turn to for rigorous legal representation and strong guidance.
Accident victims are welcome to contact us to find out what their options are and how much compensation they are entitled to.