Most drivers readily acknowledge that a crash with a semi-truck is likely to be far worse than a collision involving two passenger vehicles. 18-wheelers are so big and heavy that they can destroy smaller vehicles and severely injure their occupants.
Many people also recognize that commercial insurance policies may provide more coverage than standard liability policies carried by individual drivers. The basic requirements for commercial trucks start at $750,000. People with serious injuries caused by a semi-truck collision may expect to file an insurance claim or a lawsuit to obtain compensation.
What is the average payout that people receive after a crash caused by a semi-truck operator?
Every crash settlement is unique
There are scenarios where averages do not provide valuable insight. When the outliers are extreme, the average value obtained by looking at many different cases is likely to be a poor representation of the most common outcome. The extreme difference between the highest and lowest settlements after semi-truck crashes makes an average relatively useless.
Some semi-truck crashes simply cause minor property damage. They may lead to settlements that only amount to thousands of dollars. Other times, the collisions caused by semi-trucks are so catastrophic that people have permanent injuries or lose members of their families. Those settlements can sometimes amount to hundreds of thousands or even millions of dollars.
Factors including the number of people affected, the underlying cause of the crash and the insurance coverage for the commercial vehicle can all influence the final settlement amount. An individual’s earning potential and the severity of their injuries can also impact the amount of compensation available.
Whether or not someone negotiates can also play a major role in the value of a crash settlement. Insurance companies frequently offer low settlements initially and then negotiate up to more reasonable amounts when people counter that lowball offer.
It is all but impossible to predict the exact settlement someone can receive after a semi-truck crash. People also have to factor in the cost of paying an attorney in many cases. Retaining a lawyer on a contingency fee basis means limited or no initial costs, but the attorney then receives a portion of the final settlement ranging from 5-20%.
Calculating their current and estimated future losses can be a good starting place for those hoping to estimate what a settlement might be after a semi-truck collision. Those who document their losses and discuss their case with a lawyer can potentially establish a workable estimate regarding how much compensation they can pursue. It is often easier to maximize recovery when someone knows how much compensation they can request based on the details of their case.