If you or a loved one has been injured in a semi-truck accident, one of your first questions is likely about how much compensation you can expect to receive. The settlement amount in a truck accident case depends on many factors, including the severity of the injuries, the insurance coverage available, and the skill of your Miami truck accident lawyer in negotiating with the insurance companies.
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Factors That Affect Semi-Truck Accident Settlements
Several key elements go into determining the value of a truck accident claim. These include:
The severity and permanence of your injuries
Generally, the more severe and long-lasting your injuries are, the higher the potential settlement or jury award. Catastrophic injuries like spinal cord damage, traumatic brain injuries, amputations, severe burns, and injuries that cause permanent disability or disfigurement tend to result in the highest payouts. More moderate injuries that still have a significant impact on your life, like broken bones, torn ligaments, and concussions, can also lead to sizable settlements. Your Miami truck accident attorney will gather extensive medical documentation of your injuries to demonstrate their severity to the insurance company.
The insurance coverage available
Commercial trucks must carry much higher insurance coverage than standard passenger vehicles. Federal law mandates that trucks engaged in interstate commerce have anywhere from $750,000 to $5,000,000 in liability coverage, depending on the type of cargo. The higher coverage means more money is available to compensate you for your injuries. However, truck accident cases also tend to involve more severe injuries and damages, so having an experienced truck accident lawyer in Florida is crucial to securing fair compensation.
Lost wages and impacts on future earnings
Many truck accident victims have to miss substantial time from work while recovering from their injuries. You can claim those lost wages as part of your Miami truck accident settlement. Additionally, if your injuries have long-term impacts that affect your ability to work and earn income, you can seek compensation for loss of future earnings. Calculating the value of future lost earnings often requires working with economic and vocational experts.
Pain and suffering and emotional distress
Beyond the economic costs of medical bills and lost earnings, truck accident injuries cause significant “pain and suffering” and emotional anguish. While difficult to quantify, these non-economic damages are a key component of any personal injury settlement. Florida does not cap non-economic damages in truck accident cases. The amount you can recover from pain and suffering depends on the severity of your injuries and how significantly they impact your life. An experienced Miami truck accident lawyer will fight for total compensation for how the accident has harmed you.
Average Settlement Amounts for Semi Truck Accidents
Settlements and jury awards in truck accident cases vary widely, from tens of thousands to millions of dollars. According to data from recent years, the average truck accident settlement falls in the range of $200,000 to $400,000. However, settlements and verdicts over $1,000,000 are not uncommon in cases involving severe, life-altering injuries or death.
Some examples of substantial truck accident settlements and verdicts include:
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$35 million was awarded to a Florida man who suffered catastrophic injuries when two tractor-trailers collided and struck his vehicle
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$6.5 million settlement for the family of a woman killed when a tractor-trailer rear-ended her car at a stop light
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$2.75 million settlement for a man who suffered extensive orthopedic injuries in a truck collision
However, these examples should not be used to predict the value of your claim. Every case is unique, and many factors affect settlement amounts. The best way to determine what your case may be worth is to consult with an experienced truck accident lawyer.
Maximizing Your Truck Accident Settlement
To secure the maximum compensation for your Miami truck accident injuries, having the right attorney on your side is essential. Look for a lawyer who has specific experience handling commercial truck accident cases. These cases are more complex than standard car accident claims and require a truck accident attorney who understands the nuances of trucking industry regulations and how to identify all potentially liable parties.
You’ll also want to choose a truck accident lawyer near me with a track record of securing high-dollar settlements and verdicts. Feel free to ask potential attorneys about their past case results. An established personal injury attorney or law firm should be able to share examples of sizable settlements and jury awards they have obtained for clients.
FAQs
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How Long Does Settling A Miami Semi Truck Accident Case Typically Take?
The timeline varies from case to case. Some truck accident claims may settle within a few months, while others could take a year or more if a lawsuit must be filed. Generally, the more severe the injuries and the higher the damages sought, the longer the process takes. Your truck accident attorney can give you a better idea of how long your specific claim may take to resolve.
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How Are Truck Accident Settlements Paid Out?
Truck accident injury settlements are typically paid in a lump sum by the at-fault party’s insurance company once both sides have signed a settlement agreement. Sometimes, a structured settlement may be reached where the funds are paid out in installments over time. Your lawyer can advise you on the best payout arrangement for your needs.
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Will I Have To Go To Court To Get Compensation For My Truck Accident Injuries?
Most truck accident personal injury claims are settled out of court through negotiations between the lawyers and insurance companies. However, your attorney may recommend filing a lawsuit and trialing the case if a fair settlement cannot be reached. The litigation process is lengthy, so most cases settle before reaching a courtroom.
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What If The Trucking Company’s Insurance Denies My Claim Or Offers A Lowball Settlement?
Insurance companies always look to limit payouts and save money, so claim denials and lowball offers are common. If this happens in your case, your truck accident attorney will battle with the insurance company to prove the true value of your claim. Your lawyer can gather additional evidence, bring in experts, and argue aggressively for the full compensation you deserve.
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How Much Does Hiring A Lawyer For A Semi-Truck Accident Case Cost?
Most personal injury lawyers, including those skilled in truck accidents, offer free initial consultations and work on a contingency fee basis. That means you pay no upfront costs; the attorney only gets paid if they secure a settlement or court award for you.
Work with a Miami Semi Truck Accident Lawyer
No matter the specifics of your truck accident case, having an accomplished Miami truck accident attorney on your side is essential for securing the maximum compensation possible. Don’t go up against the trucking and insurance companies alone. Contact a truck accident lawyer in Miami to schedule a free consultation and learn what your case may be worth.
Our Florida personal injury lawyers help you navigate the complexities of your legal case. Call us today at (786) 788-7344.