Determining the average truck accident settlement in Florida is difficult, since each truck accident settlement amount varies greatly.
You must consider several factors when computing a case’s value, which means you could recover between hundreds to thousands or even millions of dollars. Let us look into these considerations and how you could estimate your settlement amount if you were in a trucking accident here in Florida.
What Factors Affect a Truck Accident Settlement’s Value?
These following factors are considered when calculating a truck accident case’s value, as these are typically part of the damages you can recover in a settlement:
- Injuries Suffered: These generally affect your medical expenses, such as hospital bills, prescription drugs, and treatments. Depending on the injury, you could possibly exceed tort thresholds.
- Property Damages: These affect costs such as vehicle repairs or replacements.
- Fatalities: If a loved one died in the trucking accident, you would also have to consider costs like funeral and burial expenses.
- Lost Wages: You may also recover the income you lost while unable to work due to your injuries.
- Replacement Services Hired: The settlement may also compensate you for services you hired while incapacitated, such as housekeeping, caregiving, or childcare.
How Do You Calculate Your Settlement Value?
Computing the truck accident settlement amount starts by compiling records of your expenses, such as hospital and auto repair shop bills. If you could not work due to your condition, you will also want to summarize how much you lost. All these will let you estimate your economic damages more accurately.
You could proceed with estimating pain and suffering or non-economic damages after computing your truck accident-related expenses. However, do keep in mind there is no fixed formula for estimating these. A commonly known method is to multiply your economic damages by a value ranging from 1 to 5. The multiplier used will depend on your injuries. If they are more severe, the multiplier will likely be higher. Losing a loved one would likely garner similar results.
This does not mean the court or the claims adjuster will come to the same calculation when they determine your non-economic damages. They might interpret the extent of your pain and suffering differently and could award a smaller or higher amount. As such, it would be best to consult with a truck accident lawyer after the incident. They can help compile your damages and assess your condition to estimate your settlement amount.
How Does Your Injury’s Severity Affect Florida Truck Accident Settlements?
The injuries you suffer from due to the trucking accident dictate what your damages are and how much compensation you can receive. Simply put, if your injuries do not meet the tort thresholds specified in Florida Statutes § 627.737, your settlement is limited by your own insurance policy limits.
For instance, you will likely have to use your Personal Injury Protection or PIP insurance first, as this coverage is mandatory for all Florida drivers. PIP pays for your injury-related costs regardless of who is at fault, but you cannot recover non-economic damages with it.
The option to file third-party actions will be available if you meet the tort thresholds. If you proceed with a liability claim first, then the settlement amount will depend on the at-fault trucker’s coverage. However, if you file a lawsuit, your recovery will not be restricted by any insurance policy limit. Of course, you should speak with a lawyer first for help in picking the suitable action based on your circumstances.
Comparative Fault in a Truck Accident Settlement
Florida’s comparative fault rules come into play when you file third-party actions. They can reduce your recoverable damages if you share some blame for the truck accident. For instance, if the claims adjuster finds you 40 percent at fault, then you can only receive 60 percent of the total settlement.
Besides computing your total settlement amount, you will also want to review the entire case with a lawyer’s help. Doing so can help in spotting weaknesses in your statements and evidence that could be used to increase your liability.
Consult with the GED Lawyers Team Anytime
Due to the multiple factors involved in a truck accident, you cannot use averages to predict the outcome of your case. It is extremely hard to determine truck settlement averages, in addition to its irrelevance. GED Lawyers is always ready to assist you with estimating your total damages, collecting evidence, filing your claim with the insurance company, and taking the matter to court. We can help you take action.
With several years of experience as Florida truck accident lawyers, our team has handled a wide range of cases, involving trucking accidents. If you have any legal concerns or want a free consultation with a team member, you can call or send us a message anytime. We cater to your inquiries 24/7.