While there is no average amount you should settle for in a truck accident case, a lawyer can help you determine the settlement right for you. After a truck accident, you’re likely to be stressed out about your financial situation as bills come in the mail. Having a lawyer on your side to guide you through the process can help you decide the settlement amount.
A lawyer can help fend off insurance company tactics and fight for the settlement that helps you get back on your feet. A sufficient settlement can help you recover from your injuries without the stress. Our lawyers at the Buzbee Law Firm explain the factors that affect your settlement amount.
What Damages Can I Recover From a Truck Accident?
In truck accident cases, there are two different types of damages you can recover: economic and non-economic damages. Most victims of truck accidents can recover both types of damages.
Economic damages are losses that have an identifiable dollar amount to them. Some of the economic damages that you may be able to recover include:
- Current and future medical expenses
- Ambulance transportation
- Loss of income
- In-home care
- Property damage
A Texas truck accident attorney can help you determine what economic damages your case qualifies for. To do this, they will gather evidence from documents such as medical records for your injuries, bank statements, and paychecks from your place of employment.
Non-economic damages are ways your injuries affect you that do not have a monetary value attached to them. Depending on the details of your case, you may be able to recover the following non-economic damages:
- Pain and suffering
- Loss of companionship
- Disfigurement and scarring
- Loss of quality of life
Even though these damages do not have a quantifiable amount to them, you and your lawyer can work together to determine the amount. The amount may depend on how severe the damage is. For example, if you were in a truck accident and become paralyzed, the type of paralysis can determine the amount of compensation.
Wrongful Death Damages
In the unfortunate case that you lost a loved one in a truck accident, you can file a wrongful death claim. You may be able to recover damages for your loved one’s death such as:
- Funeral expenses
- Loss of future wages
- Loss of companionship
- Pain and suffering
- Unpaid medical expenses
The majority of personal injury lawyers have a wrongful death lawyer that can help you file a wrongful death claim. If you lost a loved one, your lawyer can help you determine the next steps you should take.
What Factors Can Affect My Settlement?
Every case is different, so every truck accident case will have a different settlement amount. However, there are various factors that can affect the amount of your settlement that are important to know about.
When You Filed Your Claim
Texas’ statute of limitations gives you two years from the day of the accident to file a claim against the negligent party. It’s best to file before the two years pass. The earlier you file your claim, the higher chance you have of recovering the maximum settlement.
If you file after the deadline, you may not receive the maximum settlement or any compensation at all. The only way to know when to file is to meet with a Texas truck accident attorney.
Number of Parties Involved
When you get into a truck accident, multiple parties can be liable for your injuries. And the more parties that are found negligent, the higher your settlement may be. This is why it’s important that there be a thorough investigation of the accident so that you know how many people are responsible for your injuries.
If the truck driver was responsible for the accident, the trucking company could also be found negligent if it was something the company should have prevented. The manufacturer of the truck could also be negligent if a truck part was defective and caused the accident. Your lawyer can help you determine which parties contributed to your accident.
How Insurance Companies Try to Decrease Your Settlement
When you meet with the insurance company, there is almost always a guarantee that they will try to lowball you with their settlement offer. This is why it’s important to have a lawyer by your side that understands insurance companies’ tactics.
Profit Is Their Priority
Insurance companies make their money by selling insurance policies which is why they are overall hesitant to pay out claims. They also want to settle your claim as fast as possible so that they can be done with your case.
Insurance companies have all the data and technology to know the value of your claim and how much you could win if your case goes to trial. Since they do know how much your claim is worth, you would think that they would try to meet somewhere in the middle. But they don’t because they don’t want to lose money by giving you the settlement that you deserve.
Offering You a Quick and Low Settlement
Insurance companies don’t want to pay you the amount of money that your claim is actually worth. So, they will most likely offer you an extremely low amount in hopes that you will take it out of desperation for money. However, while this may be true, you should not accept the first settlement they offer.
In the process, insurance companies will use certain tools to undervalue your claim without you even knowing it. They are counting on you not knowing the value of your claim. It’s important to remember that if you accept a settlement from the insurance company, you automatically lose to right to get additional compensation for your injuries.
Having a truck accident lawyer when you meet with the insurance company is a huge advantage. You should never meet with the insurance company without a lawyer present.
When the insurance adjuster offers you a low settlement, your lawyer can dispute it and show that your claim is worth much more.
Call the Buzbee Law Firm for a Free Consultation
If you were in a truck accident in Texas, our team of seasoned truck accident attorneys at the Buzbee Law Firm is ready to fight for your settlement. Our team doesn’t shy away from the courtroom either. So, if we need to take your case to court, we’re ready.
We’ll work together to determine the right settlement for you. To start your free consultation, give us a call or fill out the contact form on our website to take the first step toward your settlement.