Truck accidents can have devastating consequences, leading to significant injuries, property damage, and emotional trauma. If you or a loved one has experienced one, you may have a right to claim compensation for your losses. However, the accident claim’s value can vary depending on several critical factors.

Read more to learn the factors that affect the value of a truck accident claim.

Severity of Injuries

The severity of the victim’s injuries significantly impacts the claim’s value following a truck accident. Severe injuries, such as spinal cord damage, traumatic brain injuries, amputations, or permanent disabilities, often result in higher compensation. Medical expenses, ongoing treatment costs, and the impact of the injuries on the victim’s quality of life are crucial considerations in determining the claim’s value.

Property Damage

A high-impact collision with a commercial truck can damage personal vehicles and other property or structures involved in the accident. The compensation claim includes the cost of restoring or replacing the damaged property.

Liability and Negligence

If the driver, trucking company, or any other party involved in the accident is found negligent, they may be held responsible for compensating the victims. The greater the degree of negligence, the stronger the case for a higher compensation amount.

Insurance Coverage

If the trucking company has substantialliability insurance, it can increase the chances of obtaining a higher settlement. In cases where the insurance coverage is insufficient, it might be necessary to explore lawsuits against the at-fault party and other avenues for compensation.

Lost Wages and Future Earnings

Truck accidents can lead to temporary or permanent disabilities, preventing victims from working and earning a livelihood. Compensation for lost wages and potential future earnings is a significant component of the claim’s value, mainly if the injuries result in a long-term or permanent inability to work.

Pain and Suffering

Injuries from a truck accident can cause physical pain and emotional distress. Compensation for pain and suffering is subjective and challenging to quantify, but it is an essential factor in calculating the overall value of the claim. Insurance adjusters and courts will generally consider the severity of the injuries, the impact on daily life, and the emotional trauma experienced by the victim when determining a suitable amount for pain and suffering.

Comparative Fault

Multiple parties may sometimes share partial responsibility for the truck accident. States follow different comparative fault rules, affecting the final settlement amount. If the injured party is found partially responsible for the accident, they will get less compensation based on the degree of fault assigned to them.

Ready to get the compensation you deserve after a truck accident? Craig J. Concannon, P.C. has a team of experienced personal injury attorneys to fight for your rights, ensuring you receive the maximum compensation for your injuries, property damage, and emotional suffering. Let us be your voice and help you rebuild your life, contact us today!

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