• Brad Keating

Average Semi-Truck Accident Settlement

Updated: Nov 3

Car accidents are disastrous incidents that almost no one wants to deal with. They are even worse if they involve trucks carrying literal tons of cargo. As a result, the number of damage increases, meaning more intense trauma, more expensive repairs, and larger medical bills.


In the aftermath of a semi-truck accident, or any vehicle accident, there can be a lot of confusion surrounding the process of fair compensation. Since semi-truck accidents involve larger vehicles and a trucking company, there can be more complications along the way.



What Are the Causes of Semi-Truck Accidents?


There are many possible causes of a truck accident. Identifying the cause can help in a settlement case for all parties to receive the proper compensation.


Truck drivers often work long hours and spend most of the time driving. Therefore, they can get tired while on the job, possibly leading to poor decision making. Bad weather is also a typical cause of vehicle accidents of any kind. Rain and snow can make roads slicker and get in the way of a clear view of the road.


The cargo found within a large semi can also be part of the collision. If the goods are not adequately secured, they can shift and cause a shift in balance or control, prompting a potential accident.


What Are Some of the Effects of an Accident?


The aftermath of a truck accident can be very damaging, given the size of the vehicle involved. It can also get complicated in the legal aspects since it usually involves the truck driver, the trucking company, maintenance, and manufacturers.


Since the event of a truck accident has so many parties involved, the law requires that a trucking company have specific insurance coverage. Truck accidents are different for everyone, but the insurance company should cover medical bills, lost wages, pain and suffering, trauma, and vehicle damage.


Victims of a truck accident are entitled to all the above, and if they feel the insurance company cheated them out of the proper compensation, it may be time to contact an accident attorney. Things such as personal injury and lost wages should be compensated, especially if the driver is not at fault.


What Are the Steps to Take After an Accident with Semi-Truck?


Truck accidents are a severe occurrence, so being careful immediately after the event can lead to a smoother recovery, both physically and financially.


After the collision, it is crucial to stay at the scene until all authorities are contacted, and all necessary data is collected. When it is safe to do so, move off the road and wait for emergency responders to arrive. This safe spot is the best place to contact authorities. Since truck accidents involve large vehicles, like an 18-wheeler, it is imperative to call the police. They can fill out an accident report, which becomes vital when determining compensation.


The uninjured people can collect information about the accident when it is safe to do so. Talking to the truck driver is crucial in getting their contact information, trucking company, and the insurance company.


People involved in the accident can also talk to witnesses. It is crucial to get their statement and their contact information in case more information is required for the settlement. Taking photos is also vital when preparing for a settlement case in the near future. It shows the direct damage from the accident and can help determine the party at fault.


Even if people involved in a truck accident feel they do not have any injuries, it is still crucial that they seek medical attention to check that things are alright. Since a semi-truck or an 18-wheeler carries so much weight, personal injury is not uncommon in accidents like these. For this, all parties involved in an accident should get checked by a medical expert. This is to check for injury or potential injury that could arise. 


Finally, after assuring safety and health, those people involved in the collision should seek help from an accident attorney. An 18-wheeler collision involves multiple parties, not just the driver. Therefore, the legal aspect can get dicey. Having an attorney can make the settlement much easier to handle and much fairer.


How Does a Settlement Work?


A truck accident settlement typically follows a truck collision. This usually involves both parties involved in the crash and their chosen law firm or attorney to represent their case. The settlement determines the amount of money granted and to whom the money goes.



What Factors Determine the Compensation Value?


Several factors influence the final value of the average semi-truck accident settlement. It often comes down to the overall pain and suffering of the victims and the insurance companies involved.


Liability is a significant contributor since it determines who was at fault. Finding out who was at fault, or mostly at fault, establishes who has to pay more. Each state has its own law concerning contributory negligence, which helps determine the settlement's final value.


Injury and death also factor into the total amount. The value fluctuates depending on the severity of injuries. However, this is where an attorney becomes extremely helpful, as the defendant may try to prove the victim had preexisting conditions or injuries. Meanwhile, a death resulting from a collision means a more significant settlement. When it comes to this, hiring a law firm to conduct a suit is the most effective way to receive as fair compensation as possible.


Finally, the insurance policy has a significant influence on the final settlement value. Often, trucking companies have an insurance policy that covers the minimum. That means that if the total compensation reaches an amount that the policy does not cover entirely, the plaintiff may not get their full payment.


How Long Does It Usually Take on Average to Reach a Settlement?


The average semi-truck accident settlement could take years to complete. Since any case involving a large company truck requires investigation, it can take a long time to determine fair compensation. However, every case is different, so there is no exact way to determine the length. The only thing to expect is for the lawsuit to take a while.


When it comes to reaching fair settlements, an intensive investigation is a necessity. Since a lot of money is on the line, conducting thorough research about the situation is vital. This means that there is a review of medical records, evaluation of repair bills, and plenty of negotiations, mostly about the total price. This is the most complicated part of resolving truck accidents. Additionally, insurance companies and trucking companies try their best to keep the price as low as possible. Therefore, plaintiffs can expect counterarguments against them.


What Is the Average Amount of an Accident Settlement?


There is no average value for accidents involving an 18-wheeler. Every case is different, and the compensation amount usually depends on the total damage done. This also means that there is no minimum truck settlement. Some settlements have reached $100,000, while others garnered millions of dollars in compensation.


The severity of injuries and damage have the most effect on determining the final value. The more severe the injuries and damages mean higher settlements. According to Ohio's truck accident laws, wrongful death lawsuits can reach up to the millions since these are the most traumatic and most severe cases of truck accidents.


The best way to ensure fair compensation is to hire a skilled law firm or attorney to help. They know the ins and outs of the legality of settlements. Call now to schedule a free consultation and get fair compensation for damaging accidents.


Example Cases of Average Truck Accidents


One of the most common cases is being rear-ended by a commercial truck settlement. These are typically handled easily since it is not too challenging to determine who was at fault. In this case, the driver usually is to blame, making the plaintiff eligible for more compensation.


Driving between large trucks, misjudging the turn of a semi, changing lanes too abruptly, and merging incorrectly onto the freeway are common causes of truck accidents. These cases get more difficult to determine fault since they require more evidence from witnesses and the total damage.



Semi-Truck Accident Settlement Calculator


Consulting a virtual calculator can help predict the actual settlement amounts. Truck accidents can be hard to predict. Thus, using this calculator can aid in determining the possible outcome of a lawsuit. Call now for a free consultation and connect with skilled attorneys who understand state traffic law.


Call Today for a Free Consultation


The outcomes of truck accidents are overwhelming, especially for the victims. They can damage their bodies and their wallet, seeing as medical bills and repair bills are costly. Having a reliable and knowledgeable team of attorneys can make the process of reaching fair compensation much easier.


Call today for a free discussion of the collision with a large company truck, how to go about the situation, and how to obtain fair compensation. Accidents involving a large company vehicle have a lot on the line. Have the right team to assist in the process. 



Whether you are interested in the average motorcycle accident settlement, or in discovering how long it takes to stop a fully-loaded semi, The Keating Firm LTD. is experienced with Ohio truck and semi accidents.





Disclaimer: The details included in this blog is offered for educational purposes only, and should not be taken as lawful guidance in any way. No recipients of material from this blog, clients or otherwise, should or should not act on the basis of any material consisted in the blog without seeking the appropriate legal or other professional guidance on the particular facts and situations at issue from an attorney accredited in the recipient's state.

The Keating Firm LTD.

Contact The Keating Firm LTD. for legal assistance regarding car accidents, criminal defense, wrongful death, dog bites, and others.

Practice Areas

Locations

  • Facebook
  • Twitter
  • YouTube

Copyright© The Keating Firm LTD.  |  All Rights Reserved.  |  Privacy Policy  |  Terms and Conditions