Determining the average truck accident settlement in Florida is difficult, since each truck accident settlement amount varies greatly.
You must consider several factors when computing a case’s value, which means you could potentially recover from hundreds to thousands to even millions of dollars. Let our Florida truck accident lawyers look into these considerations and how you could estimate your settlement amount.
What Factors Affect a Truck Accident Settlement’s Value?
The following factors are considered when calculating a truck accident case’s value, as these are typically part of the damages you can recover in a settlement:
- Injuries Suffered: These generally affect your medical expenses, such as hospital bills from one of the trauma centers listed by the Florida Department of Health, prescription drugs, and treatments. Depending on the injury, you could possibly exceed tort thresholds.
- Property Damages: These affect costs such as vehicle repairs or replacements.
- Fatalities: If a loved one died in the trucking accident, you would have to consider costs like funeral and burial expenses.
- Lost Wages: You may also recover the income you lost while unable to work due to your injuries, as well as future losses stemming from permanent disabilities, such as a spinal cord injury.
- Replacement Services Hired: The settlement may also compensate you for services you hired while incapacitated, such as housekeeping, caregiving, or childcare.
- Extent of Pain and Suffering: Florida truck accident settlements should not just cover financial losses. You also deserve money for the physical and emotional devastation that truck collisions so often leave in their wake.
How Do You Calculate Your Settlement Value?
The process of computing the truck accident settlement amount starts by compiling records of your expenses, such as hospital and auto repair shop bills. If you could not work due to your condition, you will also want to summarize how much you lost. All these will let you estimate your economic damages more accurately.
You could proceed with estimating pain and suffering, or non-economic damages, after computing your truck accident-related expenses. Keep in mind there is no fixed formula for estimating these. A commonly known method is to multiply your economic damages by a value ranging from 1 to 5. The multiplier used will depend on your injuries. If you have severe injuries, the multiplier will likely be higher. Losing a loved one would likely garner similar results.
Disputes May Arise Over Your Truck Accident’s Value
The court or the claims adjuster may not come to the same calculation when they determine your damages. They might interpret the extent of your pain and suffering differently and could award a smaller or higher amount.
For this reason, it is a good idea to consult with our Florida truck accident attorneys after the incident. We can help compile your damages and assess your condition to estimate what fair compensation looks like for you.
Fighting for the Truck Accident Settlement You Deserve
Once you know exactly how much your case is worth, you can get in touch with the insurance companies and ask them to pay a fair settlement. Some insurers may agree to pay you immediately, while others may try to delay your case, undervalue your suffering, or pressure you into accepting a smaller settlement than you need.
Our truck accident law firm can confront the insurance companies on your behalf and fight for the right amount to cover all types of damages.
What if You Cannot Get a Florida Truck Accident Settlement?
Offering a settlement is generally the more attractive option for insurance companies because it requires less money and effort on their part. If they think they have a very strong case, however, they might be willing to take their chances in court.
If your case goes to trial, whatever money you receive will likely be in the form of a jury award rather than a pretrial settlement. Sometimes, the insurance company changes their minds partway through the proceedings and decides to offer a belated settlement. If this settlement is just, you can accept it and end your case right away.
How Does Your Injury’s Severity Affect Florida Truck Accident Settlements?
The injuries you suffer due to the trucking accident dictate what your damages are and how much compensation you can receive. Simply put, if your injuries do not meet the tort thresholds specified in Florida Statutes § 627.737, your settlement is limited by your own insurance policy limits.
For instance, you will likely have to use your Personal Injury Protection (PIP) insurance first, as this coverage is mandatory for all Florida drivers. PIP pays for your injury-related costs regardless of who is at fault, but you cannot recover non-economic damages with it.
Filing a Truck Accident Lawsuit in Florida
The option to file third-party actions will be available if you meet the tort thresholds. If you proceed with a liability claim first, then the settlement amount will depend on the at-fault trucker’s coverage. If you file a lawsuit, your recovery will not be restricted by any insurance policy limit. You can speak with our Florida personal injury lawyers for help in picking the most suitable action based on your circumstances.
Comparative Fault in a Truck Accident Settlement
Florida’s comparative fault rules come into play when you file third-party actions. This rule can reduce your recoverable damages if you share some blame for the truck accident. For instance, if the insurance adjuster finds you 40 percent at fault, then you can only receive 60 percent of the total settlement.
Besides computing your financial compensation, you will also want to review the entire case with our lawyers’ help. Doing so can enable you to spot weaknesses in your statements and evidence that the insurance company may use to increase your liability.
Consult With Our Truck Accident Attorneys Anytime
Due to the multiple factors involved in a truck accident, there is no average truck accident settlement in Florida. It is extremely hard to determine truck settlement averages, and such a number would be irrelevant anyway.
With several decades of experience as Florida personal injury lawyers, Ged Lawyers has handled a wide range of cases, including trucking accidents. If you have any legal concerns or want a free consultation with a team member, call or send us a message anytime. We cater to your inquiries 24/7.
