How Much Are Truck Accident Settlements: 5 Factors to ConsiderMay 10, 2021
Compensation for the victims of truck accidents varies, depending on:
- The extent of the property damage
- The severity of the injuries
- The nature of the negligence that caused the wreck
- Whether one or more parties are liable for the accident
- Whether a liable party has a history of negligence
A Closer Look at the 5 Factors That Can Impact Truck Accident Settlements
The combination of these factors plays a big role in the amount of truck accident settlements and awards. It’s important to note that compensation for truck accidents:
- Is generally meant to help victims cover the costs of repairing or replacing damaged property, getting treatment, and more: These are compensatory damages.
- May include punitive damages: These awards can be handed down to punish the negligent party. They are not available in every case.
The Extent of the Property Damage
When vehicles and other property are severely damaged or totally destroyed, the resulting settlement can include higher compensation amounts (when compared to cases in which vehicles only suffer minor damage).
The Severity of the Injuries
Serious or life-threatening injuries can mean costly emergency medical treatment, as well as:
- Surgery and hospitalization
- Ongoing doctor’s appointments and medical care
- Various medical tests
- Prescriptions and assistive equipment
- And much more
Awards for cases involving severe injuries tend to be higher than those for cases in which victims have minor (or no) injuries.
The Nature of the Negligence That Caused the Wreck
If the victim’s actions contributed to the accident, the resulting compensation can be reduced per Texas law. In fact, according to the 51% bar rule, victims who are less than 51% at fault for a truck accident can:
- Be entitled to compensation for the injuries and losses caused by the wreck
- Have the compensation reduced in proportion to their degree of fault
For instance, if victims are found to be 25% at fault for a wreck, an award of $100,000 would be reduced by 25% ($25,000). So, the resulting recovery would be $75,000.
Whether One or More Parties Are Liable for the Accident
When multiple parties are liable for a single truck wreck, victims can seek compensation against all more parties, as they may be able to file separate claims against each party. The damages will be divided amongst the responsible parties.
Whether a Liable Party Has a History of Negligence & Truck Accidents
In these cases—or when the negligence is especially outrageous, punitive damages may be recoverable to punish the responsible parties and dter others from the same conduct. These damages can:
- Significantly increase the compensation victims receive
- Motivate negligent parties to offer favorable settlements (to resolve the case out of court and avoid the possibility of a jury awarding punitive damages)
- Protect the community from other bad actors
To ensure you get the full truck accident settlement you may deserve, contact the Amaro Law Firm.
Find Out More About Your Rights to Financial Recovery: Contact the Amaro Law Firm
If you or someone you know has been hurt in a wreck, don’t hesitate to contact a trusted truck accident lawyer at the Amaro Law Firm. We’re ready to answer your questions, explain your rights, and help you seek the compensation you may be entitled to.
Call (713) 955-5521 or Email Us
for a Free, Confidential, No-Obligation Case Evaluation
In the aftermath of your 18-wheeler accident, financial recoveries can be essential to helping victims:
- Pay for the expensive medical treatments they need
- Cover household expenses while injured people are out of work
- Gain a sense of justice knowing the negligent party had to pay
At the Amaro Law Firm, we can do more than just point out the value of your claim—we can help you set your case up for success and the maximum available compensation. While money can’t erase the accident or the damage it’s caused, compensation can help survivors and families pick up the pieces and restore their lives.