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Home » Frequently Asked Questions » What Is the Average Settlement for a Truck Accident?

What Is the Average Settlement for a Truck Accident?

chicago truck accident lawyer what is the average settlement for a truck accident

Without having access to every truck accident case ever settled, there is no information regarding the average settlement for a truck accident. You cannot meaningfully compare the outcome of one accident with another, as each case is built on its own set of circumstances.

Some factors that may impact the amount of money you can recover include:

  • The severity of the victims’ injuries
  • The involved medical expenses
  • The impact on the victims’ income
  • The involved insurance policy limits
  • The state’s modified comparative negligence law, as illustrated under 735 ILCS 5/2-1116

That being said, some truck accident cases settle for thousands of dollars. Others settle for millions.

Types of Damages You Can Recover from a Truck Accident Case

When you hire a law firm to fight for compensation on your behalf, your lawyer will collect documentation, expert testimonies, and other evidence to build your case.

Depending on what surfaces in this investigation, your lawyer might demand that the at-fault party’s insurance provider cover the following damages:

  • Medical expenses, including surgery, medical treatment, physical rehabilitation, and prescription medications
  • Lost income, which will be calculated from your wage statements
  • Diminished future potential earnings, if your injury prevents you from resuming work at the level you did before the accident
  • Pain and suffering, which accounts for the physical and mental distress resulting from your injuries
  • Diminished quality of life, if your injuries prevent you from enjoying life as you once did
  • Loss of consortium, which provides compensation for the harm done to your relationship with your spouse

Your lawyer will document these damages, assign values, then add them together to determine the value of your case. The insurer will receive this information via a demand letter.

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How the Insurance Company Responds

When the insurer receives your demand letter, they will respond in one of three ways: accept your claim, deny it, or present a counteroffer.

Insurance Companies Are Motivated by Profits

It surprises some people to learn that insurance companies do not automatically compensate claimants for their damages. Like any other business, these companies make every decision with their bottom line in mind. Keep in mind that an insurance company makes its money by selling policies, not by paying settlements. For this reason, you may experience difficulty getting the compensation you need.

Your Lawyer Can Negotiate with the Insurance Company

Your lawyer will know how to gather evidence and present your case in a way that showcases its value to the insurance company. If the insurer refuses to agree to a fair settlement, you always have the option of filing a lawsuit and letting a jury decide the matter.

Your Lawyer Can Build a Case on Your Behalf

Your lawyer will understand the importance of building a strong case based on solid evidence. This is why one of the first things they will do is investigate your truck accident to gather important pieces of information.

Your lawyer will also:

Establish Liability

Before you can collect compensation from the at-fault party, your lawyer will need to prove the following four elements:

  • Duty of care. You must prove that the at-fault party owed you a duty of care, meaning that they should have taken reasonable precautions to keep you safe.
  • Breach of duty of care. You must prove that the at-fault party violated their duty of care.
  • Causation. You must prove that this failure caused your accident.
  • Damages. You must prove that you sustained financial losses as a result of the accident and your injuries.

Again, your lawyer will prove these statements by gathering evidence.

Investigate the Accident

As noted, your personal injury case will need supporting evidence.

Your attorney can gather information from a variety of sources, including:

  • The accident scene
  • Witness interviews
  • Surveillance camera footage
  • Medical records
  • Your employment records
  • The truck driver’s logs
  • “Black box” data
  • The truck’s maintenance records
  • Statements from accident reconstruction specialists

By conducting an investigation, your lawyer can lay the foundation of your case.

Manage the State’s Statute of Limitations

Each state follows a statute of limitations that restricts the amount of time a victim has to file a personal injury lawsuit. For a truck accident in Illinois, you typically have two years to file a lawsuit, per 735 ILCS 5/13-202. Your lawyer will understand the deadlines surrounding your case and can explain your options. The sooner you hire a lawyer to help you pursue compensation, the more time your attorney will have to build your case.

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The Kryder Law Group, LLC Can Help You Recover Compensation

If you suffered injuries in a Chicago truck accident, a lawyer from The Kryder Law Group, LLC can fight for compensation on your behalf. When you call our law firm, you can ask us questions about the average settlement for a truck accident case.

Call us today for a free consultation at (312) 223-1700.

Call or text (312) 598-0739 or complete a Free Case Evaluation form

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