If you suffered an injury in a semi-truck accident, you might wonder how much you could recover through a settlement. The accurate answer is it depends on many factors, including the severity of your injuries and the insurance policies available to provide compensation.
The Indianapolis attorneys at Craig, Kelley & Faultless LLC understand how important every dollar of compensation is when you’re dealing with the long-term effects of a serious injury. We are available to review the details of your semi-truck accident and discuss the types of compensation you may be entitled to seek as part of a settlement.
Every truck accident case has multiple factors that make it unique. To understand more precisely how much you might expect from a settlement in your case, you should contact an experienced truck accident attorney with our firm. We have helped many Indianapolis truck accident victims pursue compensation from at-fault truck drivers or trucking companies. For more than 20 years, we have stood up for the rights of injured people.
Contact Craig, Kelley & Faultless LLC to speak with one of our experienced truck accident attorneys. We are ready to listen to the details of your case and discuss your legal options during a free consultation.
What Is a Truck Accident Settlement?
After a truck accident, an injured person can pursue compensation from those at fault for the accident. You can demand compensation to cover your injuries and associated losses. The process typically starts with filing a claim against the at-fault party’s liability insurance that details your accident-related losses.
Insurance companies for the trucking industry are notorious for trying to avoid compensating accident victims fairly. Do not allow an insurer to pressure you into accepting a lowball offer. They are trying to take advantage of you when you are vulnerable. Do not believe an insurance adjuster who says that a lawyer is unnecessary. You need an attorney to stand up to the insurance company and fight for just compensation.
With the assistance of an experienced truck accident attorney, you have a better chance of reaching a settlement that compensates you fairly for your injuries. Ideally, you will reach an acceptable agreement before having to file a personal injury lawsuit. Occasionally, it takes the threat of a trial to get the insurance company to agree to a settlement.
There are reasons that trucking industry insurance companies prefer to settle accident claims out of court. These include:
- Trials are unpredictable especially jury trials
- Settlements resolve cases more quickly
- Settlements avoid the expense of going to trial
According to the U.S. Department of Justice Statistics, 96 percent of personal injury lawsuits are resolved through a settlement before trial. Automobile accident cases make up a significant portion of personal injury lawsuits.
How Truck Accident Settlement Amounts Are Determined in Indiana
Truck accident settlement amounts in Indiana are based on several factors, including:
- The severity of your injuries – The severity of injuries will dictate the types of medical care you need and how long you will need it. Your medical bills are used to calculate the amount you may claim for medical expenses. If you will need ongoing medical treatment, you also may seek compensation for future medical expenses.
- The impact of your injuries on your ability to work – If you miss work due to your injuries, you may be able to recover compensation for your lost wages. If your injuries result in a long-term disability that prevents you from returning to work, you may recover additional compensation for your loss of future earning capacity.
- The impact of your injuries on your family – You may recover compensation for losses that impact your family, such as loss of consortium.
- The strength of the evidence – If the evidence of the at-fault party’s negligence is strong, the insurance company may be more inclined to settle and avoid a trial in which you would likely win.
- The degree to which you have some fault for the accident – In Indiana, you can still recover compensation even if you are partly at fault for an accident. At trial, the damages you would receive would be reduced in proportion to your share of fault. Therefore, in a settlement, you might expect a lesser amount.
- The amount of available insurance coverage – Different types of trucks engaged in different tasks are subject to different insurance requirements.
State and federal laws require large commercial trucks to carry higher amounts of liability insurance than personal vehicles. That is because trucks have the potential to cause more significant damage and more severe injuries in a collision.
The Federal Motor Carrier Safety Administration requires the following insurance minimums for trucks used in interstate commerce, which the state of Indiana has adopted for intrastate vehicles as well:
- Commercial trucks transporting property with a gross vehicle weight rating of 10,001 or more pounds – Minimum of $750,000 liability insurance
- Commercial trucks transporting hazardous substances with a gross vehicle weight rating of 10,001 or more pounds – Minimum of $5,000,000 liability insurance
- Commercial tankers transporting oil with a gross vehicle weight rating of 10,001 or more pounds – Minimum of $1,000,000 liability insurance
- Commercial trucks transporting property with a gross vehicle weight rating under 10,001 pounds – Minimum of $300,000 liability insurance
Schedule a Free Case Review with Our Experienced Indianapolis Truck Accident Attorneys
To discuss your legal options and how much you may be entitled to demand in a truck accident settlement, schedule a free case review with the lawyers at Craig, Kelley & Faultless LLC. Our Indianapolis truck accident lawyers have the experience and resources to guide you through the settlement process and pursue the maximum compensation possible in your case. Contact Craig, Kelley & Faultless LLC today for a free consultation.
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