Truck accidents often result in overwhelming physical, emotional, and financial hardships. The damage caused can be difficult to describe, but according to FMCSA, the average truck accident settlement ranges from $15,114 to $195,258.
- What Is a Truck Accident Settlement?
- How Much Is an Average Truck Accident Settlement Worth?
- Main Compensation Types in Truck Accident Cases
- Who’s at Fault in a Truck Accident?
- Get a Free Case Evaluation
- Real-Life Truck Accident Settlement Examples
- How Can an Experienced Truck Accident Lawyer Help Your Case?
- Contact Our Experienced Car Accident Attorneys Today!
- 30-Day, Risk-Free Guarantee
In severe cases involving major injuries, property damage, or wrongful death, losses can exceed $3.6 million. Here’s an overview of truck accident settlement figures based on severity and circumstances:
Max truck accident settlement | $3.6M+ |
Median truck accident settlement | $200K+ |
Min truck accident settlement | $1000 |
Average truck accident settlement | $90K + |
Few realize that being a truck driver ranks as the fifth most dangerous job in the U.S. Factors like job strain, vehicle size, and transported materials contribute to fatal accidents. As of March 31, 2024, there have been 4,807 fatal truck crashes across the country — a decrease from 5,824 in 2021, but the risks persist.
Knowing your rights and potential compensation is invaluable, even before consulting a truck accident lawyer.
What Is a Truck Accident Settlement?
Most truck accident cases result in serious injuries, significant property damage, and other losses that the injured victims suffer. To ease the financial impact of the accident, the injured party can file a settlement claim against the trucking company or their insurance provider to cover the related expenses.
A fair truck accident settlement amount often depends on a variety of factors, such as the scale of the sustained traumas. Still, even minor injuries can be negotiated and fairly compensated. Usually, the parties involved —the victim, their legal representative, and the responsible party — negotiate the financial reimbursement outside the courtroom. However, if they can’t agree on the sum, your truck accident claim may go to trial.
How Much Is an Average Truck Accident Settlement Worth?
Like all personal injury cases, every truck accident is different. However, truck incidents usually imply higher settlements than most motor vehicle accidents, all due to the increased possibility of causing extreme or, in some instances, irreversible losses.
Professional truck accident attorneys use a variety of factors to calculate the sum of a fair settlement:
- Liability: Although determining liability can be a challenging task at times, it is one of the most significant pillars of every truck accident claim. The at-fault party will be asked to pay out all the damages that resulted from the truck crash. In some cases, more than one party is liable, or both parties are partially at fault. If that is the case, the compensation amount may be altered.
- Severity: The more severe the traumas sustained, the higher will be the settlement. This rule applies to wrongful death claims as well. However, you may require the assistance of an experienced truck accident lawyer to help you settle for the most adequate reimbursement.
- Coverage: A trucking company may choose to save on the driver’s insurance policy and opt for the minimal coverage available. If your injuries, damages, and losses exceed the policy limit, you may receive accident compensation that does not fully cover your needs. It takes expert legal representation to figure out what to do in cases like this to maximize claim value.
Main Compensation Types in Truck Accident Cases
Suppose you or your family member has been injured in a commercial truck collision. In that case, you should be fully aware of what expenses can be covered should you initiate a corresponding claim. Mainly, there are three categories of damages you can file for:
- Economic damages: all the financial expenses, including but not limited to medical costs, lost wages, and damaged property coverage.
- Non-economic damages: all the non-monetary losses that come as an aftermath of the accident, including but not limited to emotional distress, pain and suffering, and loss of joy in life.
- Punitive damages: they are primarily additional measures initiated against the at-fault party on top of the compensatory damages to punish them for extreme negligence, recklessness, or intentional harm.
Medical Expenses
Whether you suffer a concussion after an accident, neck injuries, broken bones, or any other trauma, the truck accident settlement must fully cover all your medical bills. This applies to emergency room visits, hospital stays, surgeries, prescriptions, and future medical assistance.
Pain and Suffering
Emotional suffering that leads to PTSD, panic attacks, depression, and overall dissatisfaction with life, along with constant or chronic pain, can be reimbursed in a monetary equivalent. However, it often takes a skilled truck accident lawyer to calculate those correctly. On average, you can expect to get up to 5 times the amount of your medical bills in fair compensation.
Lost Income
Being unable to do your job after an accident is one of the most common outcomes. The costs of the days spent off work, along with the rehabilitation expenses and partial or complete loss of earning capacity, can be fairly settled.
Property Damage
The average truck accident settlement usually covers the financial burden of the damaged or wholly ruined property. Whether it is your vehicle or any other belongings that were destroyed in the accident, you can return the cost of repairs or total replacement of those.
Who’s at Fault in a Truck Accident?
The liable party has a direct impact on the amount of the truck accident settlement that accident victims can count on. There are different factors and potentially responsible parties to consider:
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Truck driver
Negligent driving, including but not limited to speeding, operating under the influence, or simply being fatigued, can become the main reason for the incident.
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Trucking company
If the employer violates any safety regulations, cuts on proper driver training, and ignores required maintenance check-ups, they will be the primary liable party you can sue.
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Vehicle manufacturer
In some cases, a commercial truck accident is the direct result of a mechanical failure. So, it is possible to file an accident lawsuit against the manufacturer.
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Government entity
Poor road conditions that lead to the crash are the responsibility of local authorities, meaning that you can file a truck accident claim against them as well.
No matter the underlying factor or potentially liable party, it takes solid proof like witness statements, police reports, surveillance footage, and other critical evidence to support your case. A trained truck accident lawyer can assist you in gathering and presenting it so that your case is a success.
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Real-Life Truck Accident Settlement Examples
Multiple aspects affect the average truck accident settlement amount. However, there are a few real-life instances that may give you an idea of how a well-represented commercial truck accident case may end.
Example 1: $16,6M Truck Accident Settlement
Back in 2021, a truck crash left the accident victim with a serious traumatic brain injury with lasting neurological issues. The truck driver braked the vehicle abruptly, which forced the injured party traveling behind it to collide with another commercial vehicle and go under the at-fault operator’s vehicle. The trucking employer was found 60% guilty and paid the victim $16,6M in damages.
Example 2: $1,6M Truck Incident Settlement
A former BNSF Railway Co. employee filed a truck accident claim against the company because of the injuries sustained after the 83-pound rail rack fell on him and caused severe leg, head, and back traumas. The past and future economic damages, topped with non-economic losses awarded, made $1,632,000.
Example 3: $38 Truck Collision Settlement
An 11-year-old girl sustained fatal injuries after being struck by a garbage truck. A lawsuit filed on his behalf found four parties guilty:
- The truck driver: Julio Solano: 43%
- Republic Silver State: 15%
- The trucking company: Republic Services: 15%
- The victim: Jasmine Espana: 27%
- The finalized verdict: $38,764,623
How Can an Experienced Truck Accident Lawyer Help Your Case?
A trained personal injury attorney with extensive expertise in the truck incident field would undoubtedly be of great assistance, as no legal process is ever simple. However, there’s more than an in-depth understanding of the law system that an experienced legal assistant can bring to the table:
- Even the smallest trucking company has enough resources to pay you for the injuries sustained in the accident. Yet, it also means that they can spend their finances on professional legal representation to avoid doing so. A personal injury lawyer can ensure that it does not happen.
- Most insurance companies will try to convince you to accept as minimal a payout as possible; a trained attorney by your side will negotiate skillfully to ensure maximum compensation instead.
- Anything that you say may and will be used against you. A personal legal assistant will communicate with the involved parties, ensuring that nothing can compromise your truck accident settlement.
- It is not always the driver who is the only at-fault party to go after. A seasoned truck accident lawyer will help you find all the liable parties, increasing your reimbursement potential.
- Non-economic damages are often challenging to claim in full, no matter the negative effect they’ve had on the victim. A personal legal advisor will help you recover those in full.
Contact Our Experienced Car Accident Attorneys Today!
If you or your loved ones have been injured in a truck accident, a full recovery should become your number one priority. A professional lawyer can take the burden of legal hassle off your shoulders, ensuring that your best interests are preserved and your rights are well defended.
Contact us if you want to win this battle for the just settlement in full! Michael Kelly Injury Lawyers will stand by your side, shielding you from the implications, keeping you up to date on the direction in which the case is moving, and ensuring the best plausible outcome!