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Factors That Affect the Value of Your Truck Accident Settlement The value of your truck accident settlement is based on a variety factors. These include the severity of your injuries, the amount of medical care will cost, and how bad your vehicle was damaged. It is essential to work with a knowledgeable New York truck accident lawyer to obtain the most lucrative settlement offer. In this article, we will examine how these settlements are calculated. Damages A truck accident could cause severe and life-altering injuries. Truck accident victims can receive financial compensation for their injuries. These costs can include medical treatments, lost income, property damage and many more. In addition to financial damages victims of accidents involving trucks can also receive noneconomic damages such as pain and suffering. These awards are intended to compensate a victim for the physical as well as mental suffering they've endured. A victim of a car accident could also be entitled to compensation for financial damage caused by the accident. This is due to the negligence of the party responsible for the accident. Negligence is defined as the inability to exercise reasonable care on the road or to obey traffic laws. If the actions of the at-fault motorist are deemed particularly egregious by jurors, they could give you punitive damages, which could increase the amount you are awarded. It will take time to obtain the highest settlement for your claim. This is why it's vital to consult with a New York truck accident attorney as soon as possible. Our lawyers will look into your case and draft a strong argument for why you should receive the compensation you deserve. You may be late in filing your lawsuit and lose your right to receive an equitable settlement if you are not diligent. The duration of your medical treatment could also affect the time required to settle a truck crash lawsuit. The settlement of your case may be delayed in the event that you require a lengthy medical treatment. It is always best to complete your medical treatment prior to accepting an insurance settlement offer, as this can prevent you from having to pay for further treatments out from your own pocket. Because of the size and weight of the vehicles, truck accidents are more serious than other types of vehicle collisions. This is especially true if trucks are transporting hazardous substances, such as gases or chemicals. These substances can cause life-threatening injuries or even death to passengers in passenger vehicles if they leak or explode. In cases of fatal truck accidents, family members who survived can be awarded the compensation due to wrongful death to cover for the cost of funeral and burial expenses as along with loss of earnings potential and loss of benefits and health insurance coverage. Families of a deceased victim can also seek punitive damages to punish the at-fault party responsible for their heinous actions and deter others from doing the same. It is important to seek legal advice as soon as you can after having been injured in an accident caused by commercial vehicles. The lawyers at Davis, Saperstein & Salomon, P.C., have decades of experience in representing clients in personal injury cases which involve large trucks. Contact us today to set up a free consultation about your potential claim. Medical bills In most accidents, truck drivers suffer severe injuries, requiring medical treatment. As a result, accident victims may end up with high medical bills they can't afford to pay. This is especially true if their injuries are life-changing, for example, amputations, or paralysis. Fortunately, a truck crash settlement can help. If the case is successful the victims could get their health insurance reimbursed by the insurance company that is at fault, as well as receiving other compensation for unexpected expenses. The medical expenses account for the majority of the settlement amount in a truck crash however they aren't the sole reason. The severity of the injury is a important factor, as the more severe the injuries, the higher the settlement amount. The victim's future and current medical expenses are also taken into consideration, as well as their loss of earning potential. In some cases injuries are so severe that the victim is unable to fully recover. They will need ongoing care. A successful lawsuit can take anywhere from a few months to a couple of years to settle, as parties conduct thorough investigations and keep bouncing back and forth with compensation offers. A settlement is beneficial to the victims, as it is an anonymous and fast way to settle a dispute without the need to appear in court. It is also a good option for the defendant as it can protect their reputation and avoid the scrutiny of the public. An injured person is often left with medical expenses, lost income, property damage, and other losses. The goal of a successful suit is to the victims of losses and restore them to the state they were prior to the accident. This is why it's essential to choose a knowledgeable and experienced truck accident attorney. One of the most important factors that affect a settlement is how much the victim is losing due to accidents-related losses. These expenses are often referred to as “damages.” These damages include: These are the ones that are most prevalent, however they aren't the only ones accounted for in a settlement of a truck accident. Other damages included in settlements include the cost of repairing or replacing damaged property, as well as lost wages. Additionally, the amount of the person's suffering is usually included in settlements. Although these damages are difficult to quantify and prove, they are still a part of a settlement and must be taken into consideration. For example the emotional and physical stress caused by a truck crash can cause depression which may affect the quality of life of a person. A victim's injuries can also hinder them from participating in activities they normally like to do. All of these factors are taken into consideration when calculating the damages of the victim. Loss of wages One of the most crucial elements of any truck accident settlement is recouping past and future lost wages. Your lawyer can assist you in obtaining compensation for time that you've missed at work due to your injuries or the treatment they received. To prove this loss the lawyer will request you to submit your previous pay stubs as well as any other evidence of your earnings. In addition to lost wages, your lawyer could also be able help you claim damages for lost earning potential. This category of damages takes a more thorough approach and often requires the use of forensic accountants. This is because it looks at the impact on your ability to work and earn a living and not just your actual earnings. This kind of damage can be difficult to estimate however it will usually be worth an enormous portion of the settlement for your truck accident. The severity of your injuries, as well as the degree of the defendant's negligence as well as the likelihood of fatalities, as well as the amount of insurance coverage all affect the amount of your truck accident settlement is worth. You should also think about any other damages you've suffered like property damage to your vehicle or other belongings, as well as the cost of any ongoing medical treatment. In some instances an attorney may be able recover compensation for mental distress and other damages that are not tangible. Often, erie truck accident lawsuit -fault party will attempt to lower the value of your settlement using any technicalities or arguments that they can think of. It is best to get a New York trucking accident lawyer at the beginning of the process so that they can start building your case and work with the insurance companies straight away. You should never accept the initial settlement offer that you receive from the driver who is at fault or their insurance company. They are usually way less than what your lawyer or their team calculate as the amount of your damages. Accepting this settlement will mean that you give up the right to seek additional damages in future. A settlement for a truck accident will typically be higher than the average motor vehicle accident settlement since the stakes are much higher for both you and the party at fault. Your settlement could even be in the millions of dollars dependent on the facts of your situation. This is especially true if there are several parties to blame for the accident, including truck driver or a manufacturer of parts or a trucking company. In these situations the court will have to do a great deal of investigation and court proceedings before making a decision on a settlement. In certain instances the defendant could only be accountable for a small percentage of total damages. This will be included in the settlement amount.