What Is the Average Settlement for an 18 Wheeler Accident?
There truly is no average settlement in a commercial truck crash because each case is different. Every year, thousands of accidents involving 18-wheelers occur on roads and highways across the country, according to the Federal Motor Carrier Safety Administration Analysis Division.
Recovering from these devastating incidents can be a long and challenging journey for those injured in the crash, involving extensive medical treatments, lost wages, and an array of other expenses. Many victims and their families wonder what amount of financial relief they can expect, what the minimum truck settlement might be, and how the compensation process works. The attorneys at Geiger Legal Group, LLC can shed light on the factors that influence settlement amounts.
How Settlement Amounts Are Determined
Determining the exact amount of compensation a victim can expect to recover after an 18 wheeler accident is challenging due to the unique nature of each case. Settlement amounts can vary significantly based on numerous factors, including the following:
- Physical injury – The extent and severity of the injured party’s injuries will drastically affect the potential settlement amount. For example, an accident that causes a broken arm will generally result in a smaller settlement than one that ends with the injured party being paralyzed.
- Medical expenses – Injured parties can recover compensation for their hospital bills, surgeries, medication, and rehabilitation. The amount of medical expenses will depend on the nature of the injuries.
- Lost income – If an injured person cannot work due to their injuries, they can recover compensation for their lost income. If their injuries result in a permanent disability that prevents them from working in the future, they can seek compensation for their diminished future income.
- Pain and suffering – The injured party can seek compensation for what they endured due to their injuries, including emotional distress, anxiety, physical pain, and anguish.
Another factor that can influence a settlement amount is the minimum level of liability insurance that federal law requires commercial trucking companies to maintain. For example, a commercial truck with a 10,001 pounds or more gross vehicle weight rating that transports non-hazardous property in interstate commerce must be covered by a minimum liability insurance of $750,000. Liability insurance pays for accident victims’ injuries and associated losses up to the coverage limits.
Example Cases and Settlements
Geiger Legal Group, LLC has successfully represented many victims after 18 wheeler accidents in Georgia. For example, we helped one client recover $650,000 after a commercial truck ran through a stop sign and T-boned his vehicle in a Douglas County accident, leaving him with severe neck injuries.
Contact Geiger Legal Group, LLC for Assistance After an 18 Wheeler Accident
If you or a loved one suffered an injury in an 18 wheeler accident, you understand the toll it can take on your life. So do we. We work with accident victims just like you every day who simply want to recover after being harmed by somebody’s carelessness. The attorneys at Geiger Legal Group, LLC can help you seek the compensation you need to support your recovery. Contact Geiger Legal Group, LLC today for a free consultation with one of our experienced Georgia truck accident attorneys.