HOW ARE DAMAGES CALCULATED IN TRUCK ACCIDENTS?
Truck accidents can be very serious with very serious consequences including death. The injuries sustained by victims of a trucking accident can take months or years to recover from — if at all. Some of the more common and costly injuries include:
- Spinal & Neck Injuries
- Back & Rib Issues
- Broken Bones & Dental Injuries
- Internal Organ Injuries
- Cuts and Lacerations
- Loss of Limbs (Amputations)
- Brain Injuries
The impact of a truck accidents does not stop at with physical injuries. The cost of a truck accident can also have a tremendous impact on your ability to work and earn an income. You also need to be compensated for the following damages should they apply:
- Medical Bills – Medical expenses stemming from a truck accident can be very costly and can often create a huge financial burden for victims.
- Pain and Suffering – Pain and suffering is the legal term for the physical and emotional stress caused from an injury. Some damages that might come under this category would be: aches, temporary and permanent limitations on activity, potential shortening of life, depression, disfigurement or scarring.
- Lost Wages and Income – Truck accidents can often cause people to miss work while they recover from injuries which creates stress and financial burdens.
- Disability – A disability is a physical or mental condition that limits a person’s movements, senses, or activities. As truck accidents can be quite severe, permanent disability can occur leading to a complete loss of lifestyle and employment.
- Reduced Earning Capacity – Should an injury be severe enough, a truck accident victim may experience a reduced earning capacity due to physical or emotional issue.
The amount you may be awarded is calculated by adding up the value of your medical bills, lost wages, and other financial losses related to the truck accident. The severity of your injuries and the long-term impact of those injuries are factored in to the overall damages you may win.
Pain and suffering is also included in the calculation of your damages. Pain and suffering is usually computed by multiplying the amount of your medical bills by a factor between 1 and 5; a higher multiplier representing a longer-term impact of the accident on your well being.
But, also included in the calculation is your liability and exact involvement in the accident. Should you be negligent or a cause of the accident, your damages may be effected.
Beware. The insurance companies will try to take advantage of you. The responsibility of insurance companies is to their shareholders. Not you. Insurance agents will try to low ball you on settlement offers because they are paid to keep payouts low. Insurance companies know that the process is complicated, and they will use the process against you.
Given the complex nature of calculating damages, it is critical that you speak with a qualified lawyer that specializes in Austin Truck Accidents. Steven C. Lee & Associates will evaluate every aspect of your accident and fight for full compensation for you and your family.