There is no set value for a rear-end truck accident. Instead, many factors must be considered when determining how much your accident is worth. An experienced truck accident attorney will be able to review your case and the losses you suffered and evaluate how much you can expect to recover from the liable party.
At BDIW Law, we have helped countless truck accident victims recover the full value of their claims. We will compare your case to others resulting in damages similar to yours to give you an idea of how much you may be eligible to recover. Contact us today by phone or through our website to schedule a free case review.
Factors that Must Be Considered When Calculating the Worth of Your Rear-End Truck Accident
Several factors must be considered when evaluating how much your rear-end truck accident is worth. When reviewing your case to determine the full value of your claim, your truck accident lawyer will weigh:
- The damage to your vehicle
- Any other property damaged in the crash
- The severity of your injuries
- The time you missed from work
- Whether you will be able to return to work
- Whether or not you were permanently disabled in the crash
- If you suffered psychological trauma as a result of the collision
- If you lost a loved one in the accident
- Whether your injuries will prevent you from enjoying life in the same manner you did before
- If the actions of the liable party constituted criminal negligence or a deliberate act meant to cause harm
This list is far from comprehensive. Many other details of your case may come into play in determining the full value of your claim.
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Settling vs. Going to Court
Another thing that can have a substantial impact on the amount of money you are able to recover is whether you end up settling your case out of court or going to trial. While the ceiling for how much you can recover in a settlement is lower, the floor is higher. Going to court could mean a big payday. However, it could also mean walking away with nothing.
Most truck accident cases end up settling out of court. Not only does a settlement mean that you are guaranteed to recover compensation for your damages, but it also will provide you with a much quicker path to get the money you need.
If you and the other party can not come to terms on a settlement deal, you will have to settle things in the courtroom. While you might be able to collect more compensation in this situation, there is also a large amount of risk involved. Even if your case seems airtight, you can never know for sure what will happen at trial.
Insurance Claim Vs. Personal Injury Lawsuit
Another factor that will play a role in determining the money you can recover is whether you are pursuing damage through an insurance claim or a personal injury lawsuit. Pursuing compensation through an insurance claim is often the first route to collecting damages.
However, if you suffered damages exceeding the at-fault party’s coverage, a personal injury lawsuit will likely be the only option for getting the money you need. There are also more damages you will likely be able to pursue by filing a lawsuit. Insurance coverage tends to be limited in the types of losses for which they will pay out.
Of course, filing a lawsuit means more time and a more uncertain outcome than filing an insurance claim. An experienced truck accident attorney in Oklahoma can help you determine the best path to take in your case.
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What Damages Can You Claim?
When attempting to recover compensation after a rear-end truck accident, all the damages you can claim are divided into three main categories. These categories are economic, non-economic, and punitive damages.
An experienced truck accident lawyer will be able to identify which damages you are eligible to pursue so that you can recover the full value of your claim.
All losses caused by your accident that had a financial impact fall into the category of economic damages. Economic damages are the easiest to calculate. The economic damages most commonly recovered in rear-end truck accident cases include:
- Lost income
- Lost earning ability
- Property damage
- Medical bills
- Future medical expenses
Every other loss associated with your accident is considered to be a type of non-economic damage. Damages falling into this broad category are far more difficult to calculate. The non-economic damages most commonly recovered in rear-end truck accident cases include:
- Permanent disability
- Diminished quality of life
- Pain and suffering
- Mental anguish
- Loss of companionship
- Loss of consortium
Punitive damages are not awarded to replace losses suffered by the accident victim, like with the compensatory damages reviewed in the previous sections. Instead, these damages are meant to punish the at-fault party for their role in the accident. Punitive damages are reserved for extreme cases.
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An Experienced Truck Accident Lawyer Can Help Calculate the Worth of Your Claim
When you retain the services of an experienced truck accident attorney following a crash, they will review the details of your accident to figure out how much you will likely be able to recover. They will examine cases where the damages and circumstances were similar to your own to determine how much you can expect to collect.
At BDIW Law, we have a long history of helping injury victims recover the compensation they need and deserve after a rear-end truck accident. Contact us today by giving us a call or completing our online contact form to schedule your free case evaluation.
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