A truck accident settlement is an agreement where the party responsible for the crash agrees to pay a sum of money to the injured person. This payment is meant to cover injuries, damages, and losses caused by the accident.
Most truck accident cases don’t end up in court but are resolved through settlements because going to trial can take a long time and be very costly. Settlements can take from six months up to about 16 months to complete, depending on how complicated the case is.
If you are injured, look for a truck accident lawyer to help you get the right advice and compensation.
Average Settlement Amounts for Truck Accidents
Some settlements are much higher because truck accidents usually cause more serious injuries and bigger damages than typical car accidents. The big size and weight of trucks (often weighing between 10,000 and 25,000 pounds when unloaded) make crashes more dangerous than average ones typically are. Because of these serious outcomes, insurance companies and responsible parties often have to pay large sums.
Key Factors That Affect Settlement Amounts
These are some of the key factors that are used to calculate settlements in truck accident lawsuits:
Fault and liability
One of the most important things that affects how much you get paid is who is at fault. Liability means who caused the accident. The person or company responsible has to pay for the damages.
Sometimes, both parties share some fault; this is called comparative fault or contributory negligence, and it can reduce the amount you receive.
Determining liability can be tricky in some cases. It might not be clear who caused the accident right away, so lawyers and investigators collect evidence, talk to witnesses, and analyze accident reports to find out who is responsible.
Fault can lie with the truck driver, the trucking company, parts manufacturers, or others involved.
Severity of injuries
How badly you were hurt matters a lot. More severe injuries usually mean a higher settlement. This includes things like broken bones, surgeries, long hospital stays, permanent disabilities, and even death.
If someone dies, the settlement amount usually goes up because of wrongful death claims and the loss suffered by the family.
Medical expenses
All medical bills, including current and future costs, are taken into account. This covers hospital visits, surgeries, medications, physical therapy, and ongoing care.
Because truck accidents often cause serious injuries, these costs can be very high and add a lot to the settlement amount.
Pain and suffering
Beyond physical injuries, the settlement also considers pain and suffering—the emotional and physical distress caused by the accident. This can include PTSD, anxiety, and the loss of enjoyment of life.
Courts and insurance companies recognize that these impacts are real and can significantly affect compensation.
Loss of income
If the accident stops you from working, either temporarily or permanently, you can be compensated for lost wages. This includes current lost income and any future earnings you might miss because of the injury.
Vehicle damage
The value of your damaged or totaled vehicle is also part of the settlement. If your car was severely damaged or destroyed, the settlement will often cover repairs or the cost of replacing the vehicle.
Insurance policy limits
Insurance coverage affects how much money is available to pay you. Trucking companies usually have large insurance policies, but these policies have limits.
For example, trucks carrying non-hazardous cargo must have at least $750,000 in insurance, and trucks carrying hazardous materials must have up to $5 million.
If your damages exceed these limits, it might affect the amount you can recover.
How Are Settlements Reached?
Most truck accident settlements happen through negotiation or alternative dispute resolution like mediation and arbitration. These methods are quicker and less expensive than a full court trial. Arbitration is the only one that is legally binding without going to court.
Both sides, i.e., your lawyer and the trucking company’s lawyer, work to agree on a fair amount based on all the factors discussed. Once agreed, both parties sign a settlement agreement, making the terms official and legally binding.