Average Semi-Truck Accident Settlement

Average Semi-Truck Accident Settlement

We’ve all heard the horror stories on the news about how victims of truck accidents suffer serious injuries and death. But maybe you haven’t heard a whole lot about the average semi-truck accident settlement for those who suffer injuries and death due to big rigs. Unfortunately, there is no easy answer about the average settlement for truck accidents. Below, the experienced Chicago truck accident lawyers at Curcio & Casciato explain why.

If you’ve suffered physically, emotionally, and financially from an auto accident, it’s crucial to file a personal injury claim so that you can receive the justice you deserve. To schedule a free consultation with an experienced personal injury lawyer, call 312-321-1111 today.

What is the Average Semi Truck Accident Settlement?

Generally, truck accident settlements are higher than regular car accident settlements because of how much more deadly truck accidents can be. The average settlement for semi-truck accidents can range from $0 all the way up to $10 million, maybe even more. 

There are countless factors that determine how much compensation a crash victim may receive from a commercial truck accident case, such as what percentage of fault the truck driver shares, the severity of the injuries, the amount of medical bills, how much pain and suffering the victim endured, the amount of lost wages, and so much more. Below, our personal injury attorneys discuss how these factors affect the average truck accident settlement.

Factors that Affect Truck Accident Settlements

Most truck accident cases are fairly complex. The factors below will help your truck accident attorney determine how much compensation you truly deserve for your crash.

The Truck Driver’s Percentage of Fault 

The first factor that an experienced attorney must consider is the modified comparative negligence rule in Illinois. Basically, this rule comes into play when two or more parties are involved in a car accident or a trucking accident. 

Under this rule, an injured driver can’t recover compensation if an investigation proves that they are more than 50% at fault for the accident. But if an investigation proves that an injured driver is less than 50% at fault for the accident, their compensation is still reduced by their percentage of fault. For example, if a driver shares 25% of the fault in the trucking accident, their total compensation may be reduced by 25%. 

Meanwhile, if an investigation proves that the truck driver shares 90% to 100% of the blame for the accident, then the accident victim would likely recover significant compensation for their damages.

Severity of Injuries

Let’s face it: truck accidents are often incredibly violent, and sometimes even deadly. That’s why all truck accident attorneys take the victim’s catastrophic injuries into account when determining a fair settlement.

If a truck accident victim suffered the following severe injuries, they may be eligible for a higher payout.

Medical Bills and Rehabilitative Bills

If you suffer from a serious injury, you can expect to also suffer from a large number of medical expenses. This is another huge factor in determining fair compensation in a truck accident claim. Without taking legal action against a truck driver or trucking company, injured victims can expect to spend several years – or even the rest of their lifetimes – paying off the medical and rehabilitative bills associated with severe injuries. A truck accident lawyer at Curcio Law can help you recover enough money from the at-fault party to cover all of your medical expenses.

Pain and Suffering

People who suffer catastrophic injuries from a truck accident also suffer from both physical and mental pain and suffering. This pain and suffering could last during the initial healing process and fade once you recover enough to return to your normal life, or it could continue for the rest of your life. Truck accidents are physically and emotionally traumatic. Truck accident settlements should accurately repay you for all the trauma you have suffered, and our Chicago catastrophic injury attorneys will help you determine the best course of action for this.

average semi truck accident settlement

Lost Wages

Many victims can’t immediately return to work after a truck collision due to their injuries. Some victims may never return to work after their accident. This means that not only will the victim and their family suffer financially due to medical debt, but they will also suffer financially due to lost wages. In situations like this, truck accident victims can struggle to pay their bills, put food on the table, and take care of their families. That’s why determining the exact amount of lost wages in a personal injury case is often crucial for reaching a fair settlement.

Wrongful Death

Generally speaking, a wrongful death case is worth much more than a personal injury case. If any kind of auto accident led to the death of your family member or loved one, you can expect your settlement check to be much higher. That’s because the physical, psychological, and financial suffering that comes with a loved one’s wrongful death can certainly last a lifetime. Meanwhile, the suffering in personal injury cases is often temporary. 

Our Chicago wrongful death lawyers understand that no amount of money will ever reverse the truck accident or even get rid of your grief. But the money you receive from a wrongful death lawsuit can pay off medical debt, cover lost income, put food on the table, and even pay for psychological counseling.

The Truck Driver’s Liability Insurance

According to Illinois law, all drivers must carry the minimum amount of liability insurance listed below:

  • $25,000 for the injury or death of 1 person in a crash
  • $50,000 for the injury or death of more than 1 person in a crash
  • $20,000 for another person’s property damage in a crash

Because many 18-wheelers are owned and operated by large trucking companies, that means that they likely have a lot more liability insurance than the average driver. In fact, the Federal Motor Carrier Safety Administration (FMCSA) requires most trucking companies to have a minimum of $750,000 in liability insurance.

In other words, if you get in a truck accident that’s not your fault, the truck driver and the trucking company probably have a lot more insurance protecting them than you have protecting you. So the truck driver’s (or truck company’s) insurance company could offer you an insultingly low settlement. Or they could deny fault altogether and refuse to offer you a settlement for your damages.

That’s why it’s so important to hire an experienced truck accident lawyer from Curcio & Casciato. We can negotiate a fair settlement with all the insurance companies involved in the truck accident while you heal from your injuries. 

How Long Does it Take to Receive Truck Accident Settlements?

There is no set timeline for truck accident litigation and settlements. However, receiving a settlement from a commercial truck collision often takes several weeks or months. That’s because multiple parties have to investigate the crash and the drivers involved in order to determine who is at fault. Then, truck accident attorneys have to review all the damages suffered by the victim and determine an appropriate settlement number. Next, the attorneys must negotiate that number with the truck driver’s insurance company. By the time it’s all said and done, you could actually receive your settlement check anywhere from 6 months to a year down the line.

average semi truck accident settlement

Call a Truck Accident Attorney at Curcio & Casciato Today

The top-notch legal team at Curcio & Casciato has what it takes to handle your semi truck accident case. Our law firm has decades of combined experience in defending all sorts of drivers in personal injury claims, including truck drivers, motorcycle riders, passenger vehicle drivers, and so much more. A Chicago semi truck accident lawyer can help you determine the average semi truck accident settlement based on the details of your case. 

We’re ready to start an attorney-client relationship with you. To schedule a free consultation with a member of our team, call 312-321-1111 today.

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