What is the Average Settlement for an 18-Wheeler Accident?
Being involved in an 18-wheeler truck accident can leave a person with tragic injuries and what amounts to tens of thousands of dollars in losses in the form of medical expenses, therapy costs, lost wages, and pain and suffering. That is why working with a skilled truck accident attorney in Texas is important following a crash. Attorney Stephen G. Nagle knows how to investigate a truck accident case, determine fault and prove liability, evaluate a claimant’s damages, and negotiate for a settlement.
It is impossible to say what your claim is worth prior to a full review, and the value of a truck accident settlement varies on a case-by-case basis. With that in mind, here are some factors that will affect the value of your settlement if you have been in a large truck crash:
Your Economic Losses
The greater the value of your economic losses, the greater the value of your claim and the larger your settlement will likely be. Economic losses refer to actual monetary losses, and typically include medical expenses, future medical expenses, property damage costs, lost wages, and future lost wages. A claimant maintains the right to seek compensation for the full value of his or her economic losses.
The Severity of Your Injuries
In addition to the actual value of your economic losses, the severity of your injuries will also have an effect on the value of your claim. This is because more severe injuries typically yield greater award for noneconomic losses, such as pain and suffering. Often times, noneconomic damages are calculated using the multiplier method, which multiplies the value of economic damages by a “multiplier,” a number one through five. The more serious the injuries, the greater the multiplier.
Number and Value of Insurance Policies Available
Tragically, even a person who has suffered hundreds of thousands of dollars in medical expenses and will be impaired for the remainder of his or her life due to a large truck collision will not be able to recoup the necessary settlement if there is no source of payout available. Insurance companies pay truck accident claims; if a party is not insured, they may not be able to pay a settlement out-of-pocket. Fortunately, trucking companies carry large liability insurance policies, and therefore a lack of insurance is usually not an issue in a large truck claim.
The state of Texas recognizes comparative fault, referred to as “proportionate responsibility” in Texas Civil Practice and Remedies Code. The rule holds that a plaintiff’s damages/settlement can be reduced in proportion to their degree of fault. This means that if you were found to be partially at fault for the accident, your settlement can be reduced as such.
Call Truck Accident Attorney Stephen G. Nagle Today
Providing an “average” truck accident settlement value is unhelpful, as settlements vary heavily depending upon the circumstances of the case. For a free case review with Attorney Stephen G. Nagle and to get a better understanding of what your case claim may be worth, please call his law office directly or request your case review online.