What Factors Are Considered in a Truck Accident Settlement
Trucking accidents are a traumatic experience for anyone to endure and the legal aftermath can be very complex. The last thing any victim of a truck accident wants to worry about is how to calculate what a settlement would be worth.
When you are dealing with medical treatment, property repair, and expensive hospital bills, handling anything else can be nearly impossible.
That is why having an experienced Texas truck accident attorney by your side during these difficult times is a great start to earning the compensation you deserve. The Texas truck accident attorneys of Lapeze & Johns have made it their prerogative to serve those that have been injured in a truck accident – and they are ready to help you.
Please continue reading below for information regarding truck accident settlement factors.
Six Factors That Determine the Value of Your Settlement
Throughout the years, our truck accident attorneys have helped clients calculate what their possible maximum settlement would amount to, and the following are the main components that are considered in that equation.
1. Current and Future Medical Expenses
Medical expenses are a big factor when considering the compensation you may be able to receive. Commercial truck accidents often cause severe, life-threatening injuries (or even death) to those that are unfortunate enough to be involved in one.
Because of the damage that these kinds of accidents can cause, treatment of injuries is often a long, costly process. In some instances, treatment will be life long.
Every case is different, but a skilled truck accident attorney can help calculate your medical expenses if you provide all of the necessary medical documentation.
2. Pain and Suffering
Since determining what to pay out for pain and suffering is so complex, this is a particular field that insurance companies fight the most. While everyone reacts to their injuries differently, it isn’t an impossible task for our truck accident attorneys to take on.
Our Houston truck accident attorneys are well equipped with the research tools and experience needed to determine how much pain and suffering damages you have endured.
3. Vehicle Damages
In a truck accident, passenger cars often are decimated, leaving nothing but twisted metal in its wake. If anything is left, the insurance company will pay for the cost of the repairs. If the vehicle itself is lost, however, you will — more than likely — receive its Blue Book value.
Of course, as is with most of the other factors, all truck accidents are different, and the amount of compensation you are able to recover for property damages will vary – but this is still a key factor.
4. Lost Wages and Loss of Future Earnings
Due to the severity of injuries that a truck accident can cause, time off of work is usually necessary in order for the victim to recuperate. Because of this, the victim will lose out on wages until they are able to return back to work — maybe weeks or months later.
Under normal circumstances, your employer would submit documentation showing the typical amount of hours you worked along with your wages. Your attorney will then figure this amount into your settlement amount.
5. Liability
Liability is also another huge factor in determining settlement payout. Liability takes into consideration who exactly was at fault for the truck accident, and if the insurance company can prove that the commercial truck driver wasn’t totally at fault, they can get away with paying less on your settlement.
They will look for any excuse in the book to try to justify paying less out in your settlement, such as:
- The truck driver was cut off by another vehicle and had to do a last minute maneuver.
- The truck had an unforeseeable malfunction.
- The victim contributed to the truck accident in a minor or significant way.
That is why it is absolutely crucial to collect as much evidence as you can regarding the truck accident. In the hands of our experienced Texas truck accident attorneys, strong evidence that proves that the truck driver was at fault means more money to help you in your recovery process.
6. Lawyer’s Fees
As is common if you win your truck accident case, your truck accident attorney may take a percentage of the earnings. It isn’t uncommon for truck accident attorneys to work on what is known as a contingency fee basis.
In a contingency fee basis, a truck accident lawyer will not accept payment upfront for his or her services. Their fee — based on the negotiation set between you during the consultation period — is then taken off of whatever winnings you earn, and that’s it.
And that’s how we at Lapeze & Johns operate as well. We don’t want to worry clients that already have enough on their plate about acquiring the necessary funds to pay for quality representation. All you need to do is contact us at (713) 766-4855 today to get started, and we’ll take it from there.
Have You or Someone You Love Been Injured in a Truck Accident? Our Truck Accident Lawyers Want to Hear Your Story.
Let the Gulf Coast truck accident attorneys of Lapeze & Johns shoulder the legal complexities of a truck accident for you. You deserve peace of mind as you recover.
Contact us at (713) 766-4855 to schedule your free legal consultation with one of the best truck accident attorneys in Texas.
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