Understanding Compensation: What to Expect in Payouts for 18-Wheeler Accidents

 The consequences of a 18-wheeler accident can be overwhelming, physically and financially. With such enormous dimensions and weight, accidents involving these gigantic trucks usually lead to fatal injuries or even death. If you or a relative have been injured in an 18-wheeler collision, you may be eligible for substantial damages. However, what is the average payout for 18 wheeler accident? Let's take a closer look.

One recent study shows that the typical settlement for an 18-wheeler accident is in the neighborhood of $1.5 million. Nevertheless, payouts can differ significantly based on factors such as injury level, amount of available insurance coverage and state damage caps. The suits that end in a verdict at trial usually lead to greater awards than pre-trial settlements.

Some of the most important factors impacting your potential accident claim payout include:

Type and Severity of Injuries

Severe injuries that require long-term medical care, disability, loss of income and diminished quality of life usually receive larger compensation. Traumatic brain injuries, spinal cord damage, amputation, severe burns and wrongful death are some of the most highly compensated cases.

Insurance Coverage

Under federal regulations, the majority of commercial 18-wheelers must carry at least $750,000 in liability insurance. But big trucking companies usually have policies worth over $1 million per incident. The higher the policy limits, the greater the amount of compensation in case of a major accident.

State Damage Caps

Some states impose caps or limits on certain categories of accident damages, such as pain and suffering or punitive awards meant to penalize the defendant’s behavior. These laws may limit the amount of compensation you receive. States such as Texas and Florida have higher caps.

Liability and Evidence

The more obvious it is that the truck driver, their employer or other parties were negligent and directly caused the accident, the stronger position you are in to demand full and fair compensation. Evidence that is particularly strong, like video footage, eyewitness testimony, electronic driving logs, company inspection reports and others can support a claim.

Loss of Income

If an injury makes you miss a significant amount of time from work or reduces your ability to earn money in the future, then these lost wages can be considered part of the settlement. In quantifying wage losses, documenting your income history is crucial.

Overall, the average payout for 18-wheeler accidents ranges between $500,00 to $3 million according to the above factors. Of course, no two accidents are the same. With the help of an experienced truck accident attorney, you have your best chance to receive full compensation for all damages caused by the accident. You should not leave financial recovery to chance. Know your options.