In the days and weeks after a commercial truck accident, you may be feeling overwhelmed by the trauma of your experience and the extent of your injuries.
When you go online to consider your legal options, you may be interested in what the average truck accident settlement is in Georgia.
However, it is important to keep in mind that these figures may not be an accurate representation of how much compensation you could be awarded.
In fact, there really is no accurate average truck accident settlement amount. If you are hoping to gain insight into what your damages could be worth, your best option may be to review your damages in detail with your Duluth truck accident lawyer from Slam Dunk Attorney.
Here is more about why there is no true average truck accident settlement, how to determine how much compensation you could be awarded, and the various factors that play a part in the value of your truck accident settlement.
There Is No Average Truck Accident Settlement
It may surprise you to read that there is no average truck accident settlement in Georgia, especially when you go online and see so many other law firms giving exact figures. However, these results are not always clear. It is important to ask ourselves where this data is coming from, meaning we should ask:
- Are these figures from insurance settlements or trial verdicts?
- Do these figures come from the law firm’s clients?
- Do these figures come from national truck accident settlement averages?
- Where do these figures come from?
- Are these figures from a single year or longer?
Remember, the average truck accident settlement would be based on the total amount of damages awarded, divided by the total number of truck accident cases. This means both the highest and lowest settlements will dramatically skew the “average”. It would be more accurate to describe these figures as the “median”.
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Factors that Determine Truck Accident Settlement Values
There are several factors that determine how much your truck accident settlement could be worth. Your Duluth personal injury lawyer with Slam Dunk Attorney can closely analyze the following factors to give you a more accurate idea of the compensation you could receive.
Keep in mind that every case is different, so not every factor described below will apply to your truck accident claim.
Economic Damages
The amount of economic damages you experience will directly impact how much compensation you recover. Economic damages are a type of compensatory loss that means you are entitled to recover it.
Examples of economic damages that could be awarded as described under Georgia Code §51-12-1 include:
- Increased auto insurance premiums
- Current and future medical bills
- The reduced value of your vehicle
- The costs of purchasing a new vehicle
- Loss of household services
- Lost wages and employee benefits
- Reduced earning capacity
- Rental car expenses
Non-Economic Damages
Your non-economic damages have also likely had a profound impact on your life. These may be more difficult to calculate since they are intangible, but they should be considered in your settlement nonetheless. Examples of non-economic damages include:
- Pain and suffering
- Loss of enjoyment of life
- Reputational damage
- Emotional distress
- Permanent disability
- Skin scarring and disfigurement
- Mental anguish
- Loss of consortium
Punitive Damages
If punitive damages are awarded in your truck accident case, your s
ettlement could dramatically increase. Punitive damages are designed to punish liable parties as described under Georgia Code §51-12-5.1.While they may not necessarily apply to your case, your Duluth car accident lawyer can review the details of your case to determine whether punitive relief should be expected.
Shared Fault
If you share fault for the accident, you will receive less compensation than you would have otherwise been entitled to. This is because Georgia is a modified comparative negligence state as described under Georgia Code §51-12-33. The average truck accident settlement will not tell you whether someone was awarded more or received less for partial liability.
Insurance Coverage
The availability of insurance coverage could have a significant impact on how much you recover. Georgia is a fault insurance state, as described by the Georgia Office of Commissioner of Insurance and Safety Fire, so we deal with the liable party’s insurance provider.
This basically means the compensation you recover through an insurance settlement will be based on how much coverage the liable party has.
You could be entitled to significantly more than you receive in an insurance settlement, especially if the liable party does not have enough coverage.
For example, if the driver who hit you only has $50,000 in bodily injury liability coverage, but your medical expenses were greater than $100,000, you would still have at least $50,000 in medical bills the insurance company did not pay for. Fortunately, you do not need to rely on an insurance settlement alone.
The Defendant’s Ability to Pay
The defendant’s ability to pay could also have an impact on how much compensation you actually recover. While you could be awarded $1 million in damages, if the individual or entity who caused the accident cannot pay, you may not receive anything in settlement funds.
However, there are additional opportunities to ensure the defendant is held accountable for your damages, including seizing tax refunds, wage garnishment, or even putting a lien on their assets.
Meet with a Georgia Truck Accident Lawyer Today
Although you might have hoped to find out how much the average truck accident settlement is in Georgia, the information you find online may not be accurate enough to count on.
There are far too many factors that can skew the results for these figures to give you an idea of how much you might win. Do not let yourself be dazzled by multi-million dollar verdicts and insurance settlements that do not necessarily happen for all truck accident victims.
When you are ready to get an accurate idea of the value of your losses, turn to a dedicated Georgia personal injury lawyer from Slam Dunk Attorney.
Our firm is prepared to review the specific types of damages you have experienced to calculate the anticipated value of your settlement. Complete our quick contact form or call our office to schedule your no-cost, risk-free consultation as soon as today.
Call or text 404-951-3513 or complete a Free Case Evaluation form
