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Average Settlement Value of a Miami Truck Accident Injury Case

Average Settlement Value of a Miami Truck Accident Injury Case

Truck accidents include some of the most horrific vehicle crashes imaginable. Because of the devastating power of a truck’s momentum, Miami truck accident settlement values tend to be high. Nevertheless, no meaningful average can be formulated because settlement values vary on a case-by-case basis. Following are some of the most important factors. 

Components of a Settlement 

Florida law defines the types of damages available for a truck accident settlement. Ultimately, the parties are free to settle for any amount they can agree on. Nevertheless, a defendant is unlikely to agree to pay more than they believe the victim could win if the case went to trial. Following is a rundown of some of the major damages categories available to Florida claimants.

Economic Damages

Economic damages include current medical expenses, future medical expenses, current lost earnings, future lost earnings, and various miscellaneous expenses. Miscellaneous expenses might include, for example, child care and housekeeping expenses while you were in the hospital or recovering at home. Because truck accidents frequently cause injuries such as traumatic brain injury (TBI), victims often assert astronomically large claims for future damages.

Property Damage

Strictly speaking, property damage is not part of a personal injury claim. For reasons of convenience, however, judges typically resolve property damage claims together with personal injury claims. This is especially likely if the property damage is intimately linked to a personal injury claim. Truck accidents, for example, frequently destroy both vehicles involved. Sometimes truck accidents destroy multiple vehicles.

Non-Economic Damages

Non-economic damages include intangible and psychological losses. The most common among these is pain and suffering, which represents the value of your physical suffering. Other forms of non-economic damages include emotional distress, loss of consortium, and loss of enjoyment of life. Non-economic damages sometimes add up to 500% of economic damages.

Punitive Damages

Very rarely, courts award punitive damages to punish the defendant for outrageous behavior. Intentional misconduct, for example, might result in punitive damages. Because courts are reluctant to award punitive damage, don’t count on them.

Practical Limitations on the Value of Your Settlement

No matter how solid your claim is, certain factors tend to limit the value of your actual settlement. Some of the most common of these limitations appear below.

Insurance Coverage Limits

Insurance companies pay most personal injury settlements. No matter how much money you qualify for, no insurance company owes you any more than its policy limits. Fortunately, however, commercial truckers are almost always very well-insured. This reality stands in stark contrast with automobile accidents because Florida’s no-fault system severely limits available compensation.

Comparative Fault

If the accident was partly your fault, you will have to pay a portion of your own losses under Florida’s pure comparative fault rules. If a court decides you were 30% at fault, for example, you must pay 30% of your own damages. You will also have to pay 30% of the defendant’s damages.

Negotiating Skills

How good of a negotiator are you? You can be certain that the insurance adjuster is very good because they are negotiation professionals. If you doubt your own abilities, get a lawyer and have them do the negotiating for you. Choose a lawyer with a strong record of winning in court, so the defendant will settle with you to avoid facing your lawyer at trial.

Hiring a Lawyer Is Your Best Chance To Maximize the Value of Your Settlement

One accident victim might settle for five times as much as another accident victim with exactly the same injuries and losses. The real reason might simply be that one victim hired a lawyer and the other one didn’t. Alternatively, the reason might be that one of the victims hired a better lawyer than the other. Using to hire a personal injury lawyer, and selecting the right one, will probably be the most important decision you make in your case.

Contact Our Truck Accident Law Firm in Miami, FL

If you’ve been injured in an accident in Miami, FL and need legal help, contact our Miami truck accident lawyers at Shaked Law Personal Injury Lawyers to schedule a free consultation.

Shaked Law Personal Injury Lawyers
20900 NE 30th Ave Suite 715
Aventura, FL 33180
(305) 937-0191