What Makes Truck Accident Settlements Higher Than Regular Car Accidents?

Truck accidents often result in larger settlements compared to regular car accidents. It is due to several factors, including the severity of injuries, higher medical costs, and the complex liability issues involving trucking companies, drivers, and insurers. Understanding these reasons can help victims navigate the legal process and maximize their compensation.

A knowledgeable Columbus, OH, truck accident lawyer can guide you through the claims process and fight for the settlement you deserve. In this guide, we’ll explore why truck accident cases are more complex and what factors contribute to higher compensation amounts. Keep reading to learn more.

The Size and Weight Factor

Truck accidents often cause catastrophic injuries. The force of an impact between a car and a truck typically results in serious injury or death in the car. Usually, the amount of settlement is determined according to the costs to repair the damages. Victims involved in truck accidents tend to suffer more serious injuries and, therefore, require extensive medical treatment and ongoing care, which drives up the value of the claim.

Liability and Regulations

Many truck accidents have multiple responsible parties (drivers, trucking companies, and sometimes manufacturers) who can be liable for the accident. This determination is complicated and requires investigations. Truck accidents often cause catastrophic injuries. In addition, trucking industry regulations come with strict guidelines, and a violation could equate to greater liability. While the law exists to protect consumers, its very existence makes settlements more significant when a violation is committed.

Insurance Policies

Truck insurance policies typically have higher coverage limits than standard auto insurance. It indicates that a truck accident can result in more significant damage and loss. Consequently, there can be larger payouts since the limits are elevated, providing the insurance company with additional funds to compensate victims adequately. In fact, when liability is clear, many insurance companies prefer to settle to avoid lengthy and costly litigation.

Types of Damages

Truck accident settlements will typically include both economic and non-economic damages. Economic damages are for things that you can measure, such as medical bills, lost wages, and property damage. Non-economic damages, on the other hand, relate to it, causing pain and suffering, emotional distress, and loss of enjoyment of life. The latter, in particular, tends to boost settlement amounts considerably. Because of the way in which their mental and physical health has been compromised, legal representatives for victims of truck accidents will often pass for significant amounts of non-economic damages.

Legal Representation

Because of the legal mess surrounding truck accident claims, victims frequently hire a skilled lawyer. Attorneys who handle these types of claims have the skills and tools that can be utilized to fight against trucking firms and insurance providers. The presence of professional advocacy often leads to increased settlements since attorneys are well-versed in the negotiations and, if necessary, litigation necessary to obtain a fair recovery for the client.

Participation in Various Groups

The driver and the victim are not the only parties involved in truck accidents. Other parties can be implicated in an incident, such as trucking businesses, maintenance companies, and cargo loaders. Having multiple parties involved usually makes things more complex, requiring a lengthy investigation and negotiations. The possibility of liability on the part of each party can increase your settlement value, as all parties will be looking to limit their liability (and the financial exposure they face).

The Severity of Injuries

Truck accidents almost always result in life-altering trauma that needs extensive treatment and therapy. It can cause permanent disabilities, resulting in lifetime costs and loss of wages for the victims. Settlement amounts account for the longer-term costs of suffering, making sure that those affected by harm are appropriately compensated for how it has altered the trajectory of their lives.

The Role of Expert Witnesses

Expert witnesses can be important in determining the cause of the accident and the type of damages in truck accident cases. Such experts can provide in-depth analyses and corroborate claims and settlement prices. Incorporating expert witnesses is what makes negotiations favor the victim or lead to a higher payout.

Conclusion

Truck accident settlements are more significant than regular car accident settlements. Knowing this can help explain why such settlements are often larger. For victims, having a well-informed attorney who is versed in the nuances involved may be the key to obtaining the proper compensation.