How The Value of Your Truck Accident Claim Is Determined

A truck accident can cause a great deal of harm, including severe physical injuries and property damage. If you get involved in a trucking accident, it is important to understand the value of your claim before you accept a settlement from an insurance company. This can allow you or your Denver truck accident lawyer to negotiate for fair financial compensation.

Assess the Cost of Medical Care

The value of a truck accident claim depends on many factors, including the severity of the victim’s injuries. In general, medical bills resulting from serious or catastrophic injuries are greater than those from minor injuries, so these injured victims require greater compensation for their harm. Some victims will spend millions of dollars in medical care over their lifetimes due to the injuries they sustain in trucking accidents.

Add up the costs of medical care that you have already received to start assessing your case’s value. Include ambulance fees, hospital stays, tests, x-rays, specialists, medications and medical devices. Then, estimate your future foreseeable medical costs. This may require working with a team of medical providers or a medical expert. Truck accidents often result in long-term or permanent injuries that will require years or a lifetime of medical treatments.

Calculate Lost Wages

You may be eligible for lost wage recovery if your truck accident injuries interfere with your ability to work. An economic damage award could cover your missed income, earnings, tips, commissions and other employment benefits starting from the time that the accident occurred. It could also pay for any lost future capacity to earn due to a lasting disability.

Request Property Damage Coverage

Use vehicle repair estimates from an auto shop to seek fair compensation to pay for property damage to your car after a trucking accident. In many cases, smaller cars get totaled in trucking accidents, meaning the cost of repairing the vehicle is more than the car is worth (a “total loss”). If this is the case, you could qualify for an amount equal to the total pre-crash value of your car.

Add in Pain and Suffering

It is important not to forget to add in your pain and suffering when calculating the value of your truck accident case. These can be significant losses in cases involving severe injuries or wrongful death. You may be dealing with an immense amount of physical pain, emotional suffering, mental anguish and psychological trauma after your accident. These are known as noneconomic losses, and they can be compensated.

Calculating pain and suffering is difficult, as it does not involve hard numbers. If a case goes to court, a jury can assign any amount it deems suitable in pain and suffering. According to our Denver wrongful death attorney, In many cases, a jury multiplies the total amount of economic damages awarded by a number that is chosen according to the severity of the injury. Insurance companies have their own equations for calculating pain and suffering.

Contact a Truck Accident Attorney for Help

There is no such thing as an “average” truck accident settlement in Colorado. Case values can vary significantly depending on the circumstances. You may be eligible for punitive damages in addition to those listed above, for example, if a trucking company or another defendant is guilty of gross negligence.

If you wish to estimate how much your truck accident case is worth, the most reliable way to do so is by contacting an attorney. A Denver truck accident attorney can help by investigating your truck accident, determining fault, collecting evidence, taking over claims paperwork and negotiating with a claims adjuster for maximum financial compensation. An attorney will accurately evaluate your case and fight for positive results on your behalf.

To discuss a recent truck accident with a lawyer at no cost or obligation, call The Fang Law Firm at (720) 379-6363.