What Is the Value of My Truck Accident Case?

How Much Is My Truck Accident Claim Worth?

Truck accidents often leave behind more physical wreckage than damage to your vehicle. You may be suffering from lasting injuries, physical pain, and psychological trauma. On top of that, you may have the nagging pressure of mounting medical expenses and decreased income from lost wages.

So, if you were hurt in a crash caused by a truck driver, it’s natural to wonder how much compensation you may be able to collect.

Unfortunately, there’s no simple answer without an expert evaluation of the details of your case. Your claim could be worth millions, or it could be worth just a few thousand. Some websites list the average value of truck accident settlements, but average settlement values are misleading.

The only way to get a meaningful valuation of your truck accident case is to consult an experienced truck accident attorney.

Injured in a Truck Crash? Get a Free Consultation

Many people mistakenly believe they can’t afford a truck accident lawyer.

But the truck accident attorneys at Chain | Cohn | Clark work on contingency. Here’s how it works:

• You don’t pay anything up front.
• Your lawyer handles the investigation, legal filings, and negotiation.
• When you receive a settlement, your lawyer is paid a pre-agreed percentage.

Contact us today for a free, no-obligation review of your truck accident case.

Why Are Average Case Results Misleading?

There are two main reasons why average case results are misleading:

1. High-dollar cases can inflate an average value. For example, suppose you hear that the average case value for 10 cases is over $200,000. What you don’t realize is that one case was worth $2 million, and the others were all worth $10,000 or less.
2. Averages don’t consider any of the details of your case. For example, average values are often given based on whether the injuries in a case are minor, moderate, or severe. The severity of injuries is an important factor in the value of a case, but it’s not the only factor. Other factors—such as who is at fault and the degree of negligence involved—can make a big difference.

What Types of Compensation Are Available for Truck Accident Injuries?

There are three categories of compensation available in truck crash claims:

1. Economic damages reimburse you for calculable expenses and losses related to your accident and injuries. This includes things like ambulance costs, medical bills, property damage, lost wages, and lost earning capacity if you are disabled.
2. Noneconomic damages compensate you for incalculable things such as physical pain, emotional trauma, or disfigurement. Compensation for the loss of a limb, the loss of the enjoyment of life, or the loss of a loved one also falls into this category.
3. Punitive damages are awarded by a judge or jury in cases where one or more parties responsible for an accident acted with extraordinary negligence or intent to harm.

What Factors Affect the Value of a Truck Accident Settlement?

Several factors affect the value of truck accident settlements. These include:

• Severity. In general, the more severe the injuries, the more economic damages there are. More severe injuries also usually lead to higher compensation for noneconomic damages. A typical insurance company procedure for calculating noneconomic damages is to rate the severity of any injuries from 1 to 5 and multiply the rating factor by the amount of economic damages.
• Negligence. To receive compensation from a truck accident claim, you must prove that the other party was negligent. To prove negligence, you must show that:
  • The at-fault party failed to act with ordinary care.
  • Their lack of care caused the accident.
  • The accident caused your injuries.

Truck accident settlements are often higher if the at-fault truck driver was particularly careless in some way—for example, driving drunk or driving for longer than is allowed by law in one day.

• Third parties. Commercial trucking is tightly regulated by the Federal Motor Carrier Safety Administration (FMCSA). FMCSA rules apply to truck drivers, trucking companies, shippers, and those involved in servicing or repairing trucks. If any rule violations contributed to your accident, you may be able to collect damages from the responsible party. The more parties that are involved, the higher the settlement will likely be.
• Fault. In California, an accident’s at-fault driver is responsible for the resulting damages. However, California also applies the legal doctrine of pure comparative fault, which says fault can be shared. Fault is assigned to parties involved in an accident as a percentage. For example, suppose an investigation determines that you are 10% to blame for an accident. In that case, you can only collect 90% of any damages you are awarded.
• Insurance limits. The insurance company for a driver who causes an accident has to pay damages after the accident. But the damages are limited—they can’t exceed the liability limits on the at-fault driver’s policy. Starting January 1, 2025, California will require all drivers to carry a minimum of $60,000 in bodily injury liability insurance. But truck drivers and trucking companies are required to carry a minimum of $750,000. Higher liability limits mean there’s a potential for larger settlements.

Experienced Bakersfield Truck Accident Lawyers

It can be tricky to navigate your way through a relatively simple car accident claim.

But truck accidents are far more complex:

• Given the high liability limits, the stakes are high. So, insurance companies defend truck accident cases fiercely.
• More parties involved mean more complexity. And that means you’ll need more investigation, research, and expert help to gather evidence to prove your case.

The truck accident attorneys at Chain | Cohn | Clark can help you get the most out of your claim.

Contact us today for a free case review.