What Is the Value of My Truck Accident Case?
A truck accident is an unexpected event that no one deserves to go through. After experiencing an accident, your world can feel like it’s turned upside down. Knowing how much your case is worth is one of the main things you need to know to move forward with your truck accident claim. After all, you want to know if going through this process will be worth the time and trouble that it will entail. That’s especially true if you have been given a quick settlement offer from an insurance company and you are wondering whether to take it.
Turning to a top truck accident lawyer in Richmond, VA like one from MartinWren, P.C. can help you get the facts and legal advice you need to file a claim. You should not have to deal with the consequences of an accident alone. Before your consultation, you may have many questions about the value of your case and how it is determined.
What should I ask a truck accident lawyer?
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During your consultation, you will get an opportunity to ask a lawyer any questions that you may have after they evaluate your case. One of the biggest things you will need to know when hiring a truck accident attorney is their level of experience handling truck crash cases. Stated very simply, truck crash cases are much, much different than car crash cases in a number of ways. You do not want to make the mistake of hiring a car accident attorney to handle a serious truck accident case.
In addition, it can be difficult to understand the legal jargon that is part and parcel of the legal system. See if your lawyer is able to speak to you in plain English in order to clear up any parts that are unclear. If you are confused about any of the requirements or next steps of your claim, a skilled truck accident lawyer can help.
Some of the questions that you can ask them may include the length of time it takes to resolve your case, what documents you should provide, and any legal fees that you need to pay upfront.
What damages can I collect?
If you were injured in a crash caused by a negligent truck driver or trucking company, you may be eligible to recover compensation for different types of harms you have suffered, which the law calls “damages.” Generally speaking, there are two types of damages you can expect to collect if you are eligible to receive compensation. The first type of damages is called economic damages. This covers your out-of-pocket losses caused by the crash. These are things that typically can be calculated and even shown by a bill or invoice. These can include medical bills from the past and into the future, property damage, lost wages in the past and in the future, and what is called lost earning capacity.
You may also be able to obtain what are called “noneconomic damages.” These categories are not shown by a bill or invoice and instead depend on the value of those things that do not have a price tag. That includes, for example, pain and suffering (both past and future), inconvenience (both past and future), disfigurement and any associated embarrassment. Pain and suffering can be a big category as that includes mental anguish and emotional distress. In big truck crash accidents, we have found that it is not uncommon for our clients to suffer deep emotional and mental injuries as a result of the crash they sustained.
As we will discuss below, insurance companies tend to undervalue noneconomic damages.
How is the value of my case calculated?
Several factors are considered in order to determine the full value of your case. Insurance companies use a special formula when they are doing their calculations. The formula takes into account damages like lost wages, medical bills, as well as non-economic damages like pain and suffering. They will usually use a multiplier method that adjusts the value amount based on things like the severity of your injuries and vehicle damage. Here’s what is interesting: if your case goes to a trial, the case will be valued by a jury of your peers. Unlike insurance companies, they do not use a special formula, table, or algorithm to calculate the value of the case. Instead, they work together to try to find a number that provides compensation for the true financial and human losses that you suffered. When we take a case to trial we hope to beat the insurance company’s final offer significantly.
What if I think the offer from the insurance company is too low?
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Often insurance companies will present accident victims with a settlement offer that is lower than what they are actually entitled to, which is a common issue for victims. If this happens to you, do not fall for the trap. Refer to a lawyer to have them review your settlement offer and they can find out if you should fight for a higher one. You can expect the insurance company to make low-ball offers that border on insulting. They are likely to do this until and unless they see that you are willing to fight to receive the compensation you are owed.
Receive Legal Assistance from a Top Lawyer
Don’t wait to discover your legal options and seek legal assistance from our experienced truck accident lawyers now.
Robert “Bob” Byrne from MartinWren, P.C. is the first and only attorney who is Board Certified in Truck Accident Law by the National Board of Trial Advocacy. Bob received this certification by demonstrating deep experience handling tractor trailer and commercial motor vehicle cases from start to finish. He and our legal team have received verdicts and settlements in trucking cases for individuals and families that have experienced the tragic effects of big rig accidents. He also had to pass a mini bar examination focused on truck accident law, ethics, evidence law, and civil procedure. Finally, obtaining board certification required Bob to pass a comprehensive peer-review process where other lawyers and judges attested to Bob’s ability to handle truck cases successfully and to act ethically.
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