Settlements for truck accident claims vary, depending on the specific facts and circumstances surrounding a case. Typically, these cases tend to settle for more than other motor vehicle accident cases due to the significant injuries and damages sustained by victims.
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Commercial trucks weigh up to 40 tons. When a truck is involved in even a small accident, it can already cause serious injuries or even fatalities. Thus, the seriousness of the injury and the impact is usually the biggest factor attorneys consider when calculating the value of a truck accident case. In general, the most serious truck accident cases can get settled for millions of dollars. You can learn more here about how much compensation you can secure if you have been injured in a truck accident:
Insurance Coverage Limit and Your Truck Accident Value
Some big trucks and trucking companies carry 1 million dollars of insurance because of the seriousness of injuries victims may sustain. But not all companies carry this much insurance. That is why attorneys look into all layers of trucking insurance and exhaust other financial recovery sources. Big companies may have the resources and assets to pay more than the limits of their policies.
Trucking Regulation Violations and Your Possible Settlement
Due to the huge size of commercial trucks and the risks involved, these vehicles are heavily regulated. If a truck driver or their employer fails to follow or comply with regulations, they could be paying you more than you expect.
Trucking companies that hire inexperienced and unqualified drivers or those with a history of accidents may need to pay additional damages in court based on punitive damages. Also, the trucking records’ honesty and quality can be a factor when calculating damages. Truck drivers who hide their speeding violations or excessive hours by falsifying driver logs may face punitive damages.
Other Factors that Can Affect Your Case Value
The mistake of a truck driver or the trucking company can also affect your settlement value. For instance, did you get hit by a truck due to break failure that results from improperly maintained trucks? Did the truck driver fall asleep after being on the road for more than 16 hours? Discovering such information can add substantial value to your accident case.
Meanwhile, the ability of the truck driver to defend themselves may also affect your settlement value. Can they argue that a vehicle cut off the truck in traffic? If this is the case, the value of your settlement or verdict may be reduced. But it is still up to your attorney to counter the arguments of the truck accident and prove their fault.