Clients often ask, "How can I calculate the value of my truck accident settlement?" In this article we'll look at the factors that most impact the value of an 18-wheeler accident settlement.
Large commercial truck accidents can be devastating. Just the trauma of going through such a life changing event can be trying to everyone involved. Not to mention all the stresses of medical bills piling up, the lack of income from missing weeks of work, and the lifetime of expensive treatment ahead to cope with your injuries.
After your initial phone consultation with our attorneys, we'll go through your case and the documents that the various entities involved have sent to us. Police reports, medical diagnoses, the report from your insurance company, among others. We will then carefully sift through all the information that we've received and appraise the value of your case so that you have an idea of what kind of compensation you'll be looking for before any other action is taken.
How Do We Determine the Value of a Truck Accident Claim?
The attorneys at Grossman Law Offices have a strong record of success with helping truck accident victims recover the maximum amount of compensation for their personal injury and wrongful death claims. The potential value of a truck accident case is dependent upon a host of factors, including:
- Amount of medical expenses
- Estimated cost of future medical expenses
- Amount of lost wages
- Estimated future loss of income
- Loss of earning capacity or possibility of permanent disability
- Physical and mental limitations
- Past and future pain and suffering
How Do We Calculate the Value of Your 18-Wheeler Accident Claim?
The damages awarded in each area listed above will depend on the severity and nature of your injuries. The more extensive and permanent your injuries are, the higher your damages award will be. The value of your claim for medical expenses and pain and suffering will depend on the amount of your medical bills at the time of the settlement or jury verdict and what a medical expert estimates your expenses will be for future medical treatment and rehabilitation.
Similarly, your recovery for lost wages will depend largely on what your salary or hourly rate was at the time of the accident. However, if your injuries will likely leave you permanently disabled, your future lost wages and loss of earning capacity is harder to calculate, and you will need the assistance of one of our expert economists.
This economist will take all the elements of your career when calculating loss of earning capacity. He or she will look at what your current hourly rate or salary is, your age, how far into your career you are, and the amount of time you will likely be unable to work. We have a stable of experts that have vast experience in the medical, financial, and legal fields, so you can be confident in our ability to present you with the most accurate pre-trial estimate possible for this variety of damages.