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Factors That Affect the Value of Your Truck Accident Settlement The worth of a truck accident settlement depends upon several factors This includes the severity of your injuries how much medical expenses will be and the extent to which your vehicle was damaged It is essential to partner with a skilled New York truck accident lawyer to secure the best possible settlement offer In this article we will examine how these settlement amounts are calculated Damages A truck accident can cause serious and lifechanging injuries Victims of truck accidents can receive financial compensation to cover the costs associated with their injuries These costs may include medical treatment loss of income damages to property and more In addition to these financial payouts victims of a crash involving a truck are also entitled to noneconomic damages such as suffering and pain These awards are intended to compensate a victim for the physical as well as mental distress that they have experienced In addition to addressing the economic losses resulting from an accident with a truck a victim may be eligible for compensatory damages that address the negligence of the responsible party in the crash Negligence is defined as failing to use reasonable care or to follow traffic laws If the actions of the atfault driver are judged to be particularly indecent by jurors they could award punitive damages to you and could increase the amount you are awarded It will take some time to receive the most favorable settlement for your claim This is why its important to consult with an New York truck accident attorney whenever you can Our lawyers will look into your case and prepare a strong argument for why you deserve to get the amount of compensation you require It is possible that you not meet the deadline to file your lawsuit and lose your right to receive a fair settlement if you put off filing your lawsuit Another factor that may affect how long it takes to settle your truck accident lawsuit is the length of your medical treatment If you need extensive medical treatment for your injuries it could significantly delay the process of settling your case It is always best to complete your medical treatment before accepting an insurance settlement offer because this can keep you from having to pay for future treatments out of pocket Due to the size and weight of these vehicles truck accidents are more serious than other types of collisions This is especially true when the truck is carrying hazardous substances like chemical or gas If these substances leak or explode they can cause devastating and lifealtering injuries for occupants in passenger vehicles In the event of fatal truck accidents survivors of the deceased can be awarded wrongful death compensation to pay for funeral and burial expenses as along with loss of earnings potential and loss of benefits and health insurance coverage Families of a deceased victim may also seek punitive damages to penalize the atfault person for their criminal actions and prevent others from doing the same It is crucial to seek legal advice as quickly as possible if youve been injured in an accident with commercial vehicles Davis Saperstein Salomon PC has years of experience in representing clients in personal injuries cases involving large trucks Contact us today to schedule a nocost consultation regarding your potential claim Medical bills Truck accidents can result in serious injuries that require medical care Victims of accidents may end up with a huge medical bill they cant pay This is especially true when their injuries are lifechanging for example amputations or paralysis Fortunately a truck crash settlement can help If the case is successful the victim can receive compensation for the unexpected expenses which could include the reimbursement of their health insurance by the insurance of the driver sunrise truck accident lawyer are usually the largest portion of a settlement for a truck accident however thats not the only factor that affects the final amount The severity of the injuries are also a major factor because the more settlement will be the more severe the injuries The victims current and future medical expenses are also considered in addition to the loss of their earning potential In some cases injuries are so severe that the victim is unable to fully recover They will require regular medical attention A successful lawsuit could take a couple of months to few years to settle because the parties conduct thorough investigations and then exchange with compensation offers A settlement however can be beneficial to victims as its a quick and private way to settle the dispute without having appear in court Its also an excellent option for the defendant because it protects their reputation and avoid the scrutiny of the public An injured person is likely to be burdened with medical expenses loss of income property damage and other losses The ultimate goal of a successful lawsuit is to compensate the victim for these losses and restore them to their preaccident status It is therefore essential to work with a seasoned and skilled truck accident lawyer The amount of money the victim has suffered due to their accident is a major factor in determining a settlement These expenses are often referred to as damages These damages include These damages are the most frequent but they are not the only ones included in a settlement agreement for a truck crash In addition to the expense of replacing or repairing damaged property as well as lost wages these are included in settlements In addition the cost of suffering and pain can be included in the settlement While these damages arent easy to prove and quantify but they are nevertheless part of a settlement that must be taken into consideration For instance the physical and emotional trauma of a car accident can cause depression that can impact the quality of life of a person In addition a victims injuries can restrict them from participating in the activities they normally enjoy All of these factors are taken into consideration when calculating the damages of the victim Lost wages One of the most crucial aspects of any truck crash settlement is the recouping of past and future lost wages Your lawyer can assist you in obtaining compensation for time that youve missed working because of your injuries or their treatment To prove your loss your lawyer will ask you to submit former pay stubs and any other evidence of your income In addition to losing wages your lawyer could also be able to help you seek damages for the loss of earning potential This category of damages is more complex and usually requires accounting experts who are forensic This is because it considers the impact on your future ability to work and earn a living not just your actual earnings This kind of damage is more difficult to quantify and usually represents an important portion of the settlement you receive from a truck accident The severity of your injuries the level of negligence by the defendant as well as the likelihood of fatalities and the amount of insurance coverage all affect the amount of your truck accident settlement will be worth You will also need to be aware of any other damages youve sustained for example property damage to your vehicle or other belongings as well as the cost of any ongoing care In certain instances your lawyer might be able to recover compensation for mental anguish as well as other nontangible losses too The atfault party might try to lower the value of your settlement with any technicalities or absurd arguments they can come up with It is recommended to hire an New York trucking accident lawyer early in the process to begin building your case and negotiate with the insurance companies immediately You should never accept the first settlement offer you receive from the driver at fault or their insurance company The settlement offers typically are much less than the amount your lawyer and his team estimates as your damages In accepting this initial settlement you will be absolving yourself of the right to pursue further damages in the future A truck accident settlement will typically be higher than the typical motor vehicle accident settlement due to the stakes are greater for both you and the atfault party In reality based on the specifics of your case your settlement could be in the tens of millions or even more This is especially true when multiple parties are accountable for the crash for example the truck driver the manufacturer of the parts or a different trucking company In these situations a judge must conduct extensive investigations and litigation in order to determine a settlement amount In some cases the defendant could be responsible for only one percent of the total damages which will be reflected in their portion of the settlement