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What is the Average Settlement for a Truck Accident in Florida?

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There are more than 30,000 commercial truck accidents reported statewide each year (Florida Highway Safety and Motor Vehicles (FLHSMV)). As large trucks can weigh up to 80,000 pounds, these crashes can cause devastating or even catastrophic damage. Following a truck accident, you need compensation for the full extent of your injuries. You have the right to seek a settlement to cover your damages, including vehicle repairs, medical expenses, loss of income, and pain and suffering. In this article, our West Palm Beach truck accident attorney provides a more detailed overview of personal injury settlements.

There is No True “Average” Truck Accident Settlement 

The somewhat unsatisfying answer is that there is no true “average” amount for a truck accident injury settlement in South Florida. The reality is that truck accident settlements in Florida vary widely. They are always determined by the unique circumstances of each case. A settlement in the four, five, six, or even seven figures is all within the ordinary range. While some cases may settle for tens of thousands of dollars, others involving catastrophic injuries or wrongful death can result in multi-million-dollar settlements. You need compensation for your damages.

 Key Factors that Impact the Value of a Settlement 

What are the factors that go into determining the value of a truck accident injury settlement in Florida? There are four key issues:

  1. Liability: Liability is a critical factor in determining the value of a truck accident settlement. While Florida is a no-fault state for minor and moderate truck accidents, injured victims can file a fault-based claim after a serious crash. If the truck driver or trucking company is found fully at fault, the settlement is likely to be higher.
  2. Damages: The extent of damages suffered by the victim directly impacts the settlement value. A settlement is designed to compensate the victim for the actual damages that they suffered. You can seek compensation for both economic and non-economic losses. You may recover for vehicle repairs, medical costs, lost wages, and pain and suffering.
  3. Insurance: Most truck accident claims are brought against insurance companies. Insurance policies matter. If insurance coverage is insufficient or disputed, it may limit your ability to recover full compensation for your losses.
  4. Negotiation: Truck companies and their insurers do not willingly offer full and fair settlement agreements. They want to pay out less. Your ability to successfully negotiate will affect the value of your settlement. An experienced West Palm Beach, FL truck accident lawyer can help.

Consult With Our West Palm Beach Truck Accident Lawyer Today

At Pike & Lustig, LLP, our West Palm Beach trucking accident attorneys go above and beyond to fight for justice and the maximum compensation for injured victims. It is our mission to help you get the maximum settlement after a serious crash. Contact us today for a free case evaluation. With an office in West Palm Beach and Miami, our firm serves communities throughout South Florida.

Source:

flhsmv.gov/resources/crash-citation-reports/

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