When attempting to recover compensation after a truck accident, you may be curious about the average payout for these cases. Unfortunately, due to the varied nature of truck accidents, there is no general average you can look at that will tell you how much you can expect to receive.
Instead, all of the specific details of your case must be considered when calculating the value of your claim. At BDIW Law, we can review your case and help determine how much money you can expect to recover from the liable party. Contact us today to learn more about how much your damages are worth through a free consultation with a member of our team.
Calculating the Value of Your Claim
When calculating how much you can expect to receive in a truck accident settlement, many things must be considered. Some of the things your lawyer will look at when determining the value of your claim include:
- The damage to your vehicle
- Any other property damage resulting from the crash
- The extent of your injuries
- Whether or not you sustained a permanent disability
- The time you missed from work
- Whether you will be able to return to work
- Whether your injuries will prevent you from enjoying life in the same manner you did before
- If you suffered psychological trauma as a result of the crash
- If you lost a loved one in the crash
- If the actions of the at-fault party constituted criminal negligence or a deliberate act meant to cause harm
This is only a partial list of the factors that must be evaluated when attempting to determine how much you can expect to recover after an accident.
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Can I Get More Money If I Go to Court?
Taking your case to court rather than negotiating a settlement can increase the amount of money you will receive from the liable party. However, there are downsides to going to trial as well. One of the biggest advantages of taking a settlement over going to court is that going to court comes with risk.
Even if your case seems airtight, the unpredictability of a trial can lead to you not receiving any money for the damages you suffered. Additionally, even if you win in court, the additional money you receive may not be worth the extended period you will have to wait to recover compensation. A settlement can get you paid in a fraction of the time.
Of course, even if you choose to pursue a safer settlement route, avoiding a date in court may be impossible. The other party may be unwilling to negotiate, necessitating a trial.
The Three Main Categories of Damages
When pursuing compensation after a truck accident, there are three main categories of damages into which all the money you can recover is divided. These damages are economic, non-economic, and punitive damages.
An experienced truck accident attorney can help you determine what damages you qualify to pursue so you can recover the full value of your claim.
Any losses you suffered that directly impacted your finances are considered economic damages. Economic damages are straightforward and easy to calculate. The most frequently recovered economic damages following a truck accident are:
- Property damage
- Medical costs
- Future medical expenses
- Lost wages
- Damaged earning ability
All other losses related to your truck accident are categorized as non-economic damages. Non-economic damages are far broader and more complex. The most frequently recovered non-economic damages following a truck accident are:
- Pain and suffering
- Mental anguish
- Diminished quality of life
- Loss of companionship
- Loss of consortium
- Permanent disability
Punitive damages differ significantly from economic and non-economic damages. While other damages are meant to replace the losses sustained by the victim of the truck accident, punitive damages are used to punish the liable party for the role they played.
Punitive damages are only awarded in extreme circumstances where the action or inaction of the at-fault party was particularly egregious.
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Your Case May Not Be Worth Anything If You Let the Deadline Pass
To recover compensation from the liable party through a lawsuit, you must take action before the statute of limitations expires. In Oklahoma, this means that you have two years from the date of the accident to file a lawsuit. If you miss this deadline, you likely won’t be able to collect any money for the losses you suffered.
Of course, the statute of limitations is flexible depending on the circumstances of your case. You could find that you can still file once the normal two-year deadline has passed or that you have far less time to pursue compensation. To get the settlement you deserve, it is critical that you file your paperwork on time.
An experienced truck accident attorney in Oklahoma can determine the exact deadlines that apply to your case and file all of the appropriate paperwork before time runs out.
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A Truck Accident Attorney Can Help You Figure Out How Much to Expect from a Settlement
When you hire a truck accident lawyer after a collision, one of the first things they will do will be to review the details of your case to determine how much you can expect to recover. Your lawyer will evaluate all the damages you have suffered and compare your losses with those in similar cases to predict what you will likely be able to recover.
Not only will they be able to give you a realistic estimate of the money you could recover through a settlement, but they will also be able to tell you how much you would likely receive if you won in court. At BDIW Law, we have helped countless truck accident victims get the money they deserve. Contact us today to schedule a free consultation.
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