Truck Accident

What is the Average Semi-Truck Accident Settlement?

7 mins read

The aftermath of a collision with a massive semi-truck can leave you reeling, facing a mountain of medical bills, lost wages, and emotional distress. It’s natural to wonder: what kind of financial recovery can I expect? While the internet might tempt you with promises of “average settlement” figures, the reality is far more nuanced.

While no two truck accidents—or settlements—are alike, understanding what impacts claim values can help injured parties in New York seek justice.

Establishing Liability in Truck Accidents

Determining who is at fault for the accident is another crucial piece of the puzzle. Our experienced truck accident attorneys in Brooklyn meticulously investigate every aspect of the accident, piecing together evidence like police reports, witness statements, and even black box data from the truck.

Liability in truck accidents can be complex, potentially involving multiple parties beyond the truck driver. The trucking company, the truck manufacturer, or even the cargo loading company could share responsibility depending on the circumstances. Our legal team diligently analyzes the evidence to identify all liable parties and build a strong case for your maximum compensation.

Semi-Truck Accident Frequency and Severity

The number of truck crashes has risen steadily over the past decade. In 2021 alone, over 5,700 fatal semi-truck collisions occurred nationwide. Common severe injuries include:

  • Spinal cord damage causing paralysis
  • Traumatic brain injuries
  • Amputated limbs
  • Significant burns
  • Broken bones

Given their scale, semi-truck accidents frequently lead to permanent disabilities requiring lifetime medical care and lost livelihoods.

Average Settlements Fall Short

The average truck accident settlement sits at around $40,000. However, this median obscures how wildly settlements range from under $10,000 to over $20 million depending on case specifics.

Rather than an “average” benchmark, understanding what determines claim value helps accident victims seek maximum compensation tailored to their unique situations.

Factors That Determine Truck Accident Settlements

Like any personal injury claim, truck accident settlements involve numerous factors, chiefly:

Injury Severity

More severe injuries substantiate higher compensation. For example, a minor laceration may warrant only several thousand dollars while a traumatic brain injury or spinal damage resulting in permanent disability could justify compensation in the million-dollar ranges or more.

Shared Fault

New York follows comparative negligence doctrines, so multiple parties often share accident liability. The higher percentage of fault attributed to defendants versus plaintiffs directly impacts final settlements.

Available Coverage

Insurance policies on commercial trucks and their operators put upper limits on compensation. When policies fall far short of damages, victims may need to demonstrate negligence by trucking companies and other potential defendants to access additional coverage.

Lost Income and Medical Costs

Truck accident lawsuits demand compensation for both tangible damages like medical bills and lost wages as well as harder-to-quantify pain and suffering. The greater the present and future economic impact substantiated, the higher potential settlement values become.

Strength of Evidence

The strength of evidence establishing liability also affects case value. Skilled truck accident attorneys understand how to demonstrate negligence and maximize fault attribution to achieve fair client compensation.

Accounting for Economic and Non-Economic Damages

Your settlement encompasses both the tangible financial losses and the intangible impacts on your life. Economic damages include quantifiable costs like:

  • Medical expenses: This covers everything from ambulance fees and emergency room visits to surgeries, medications, and ongoing therapy.
  • Lost wages: If your injuries prevent you from working, you can recover the income you’ve lost and potentially future lost earning capacity.
  • Property damage: This includes the cost of repairing or replacing your vehicle and any personal belongings damaged in the accident.

Non-economic damages address the emotional and psychological toll of the accident, such as:

  • Pain and suffering: This encompasses the physical pain and discomfort you’ve endured due to your injuries.
  • Emotional distress: This includes the anxiety, depression, and post-traumatic stress that can result from a traumatic accident.
  • Loss of enjoyment of life: This accounts for the limitations you may face in participating in activities you once enjoyed.

While calculating economic damages is relatively straightforward, assigning a value to non-economic damages requires careful consideration of the unique impact the accident has had on your life.

Settling Semi-Truck Accident Cases

Around 95% of semi-truck injury claims settle out of court. But “average” settlements shouldn’t guide expectations. Instead, an experienced truck accident lawyer can evaluate case specifics to estimate potential value while aggressively pursuing maximum compensation through:

  • Investigating accident details
  • Proving negligence and damages
  • Negotiating skillfully pre-trial
  • Litigating unrelentingly if talks fail

Don’t Face Complex Truck Accident Cases Alone

Semi-truck collision cases involve high stakes, intricate legal issues and well-funded corporate opponents. Attempting settlement negotiations without dedicated legal advocates often leads accident victims to unknowingly accept insufficient compensation.

Don’t leave money on the table or let insurance companies take advantage after suffering catastrophic injuries. Contact demonstrated Brooklyn truck accident attorneys at Held, Held & Held instead.

With over 50 years of service and 110+ combined years of experience, few law practices demonstrate more passion for client advocacy or personalized attention to injury cases. Contact them for aggressive legal representation, a free consultation and their famous “no fee unless we win” service today.

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