Navigating Commercial Vehicle Accident Settlements: What To Expect

One common client’s personal injury lawyers often receive is: What can I expect when it comes to a settlement for a commercial vehicle? The answer is probably not what you want to hear, but it’s necessary: It varies depending on a variety of factors, just like with many other types of personal injury law. The complexity of trying to get the commercial vehicle accident settlement you deserve for your specific case is exactly why you need to have top-notch legal representation on your side. Below, we go through a brief overview of the basics of commercial vehicle accident settlements, how the amounts are determined, and some things you can expect when going through the process.

What Is A Commercial Vehicle?

Before delving into the more complicated stuff, let’s first establish the definition of a commercial vehicle. A commercial vehicle generally refers to vehicles like delivery vans, semi-trucks, taxis, buses, and other vehicles that are employed for business. Since these types of vehicles tend to be larger and heavier than others, when accidents happen, injuries and damages tend to be more severe compared to accidents that only involve regular passenger cars.

What Can Influence An Average Settlement

Like we stated above, determining an “average settlement” of economic damages when it comes to commercial vehicle accidents is almost never simple due to the myriad factors that need to be taken into consideration. Such factors include:

• Medical costs: Current and projected future medical expenses compose a significant component of any settlement
• Severity of injuries: Accidents involving significant injuries like traumatic brain injuries, fractures, spinal cord injuries, or even fatalities can end up getting high settlements compared to situations where there are only minor injuries involved.
• Pain and suffering: The amount of emotional and physical pain the victim can be determined to suffer as a direct result of the accident
• Lost wages and earning capacity: If the accident has resulted in the victim losing the ability to work either permanently or temporarily, future earnings and lost wages can also be factored into the settlement amount.
• Fault: Depending on who is at fault for the accident, the settlement can vary significantly. 

Settlements Range Depending On These Factors

With the many potential factors such as the ones listed above, it is difficult to pinpoint one specific “average” settlement number. But settlements CAN have a general range they fall into; i.e in the tens of thousands to millions ranges, depending on how each case goes. Accidents that only involve minor injuries typically only pull in settlements in the lower five figures, whereas severe or even fatal injuries may lead to high settlements in the seven figures.

Why It’s Essential To Have Adequate Legal Representation

With commercial vehicle accidents especially, you don’t want to take the complexities and caseload on by yourself. Remember that you’re up against major corporations with a host of insurance lawyers, so having an experienced commercial vehicle accident lawyer on your side is not just recommended but necessary if you want to come out the other end with any kind of satisfaction. Plus, you’re likely still reeling from the accident, making it even more difficult to deal with the complicated paperwork and negotiations involved.

Contact Us Today

If you or somebody you love get into a commercial vehicle accident, you need an experienced commercial vehicle accident attorney on your side to help you navigate the case and ensure your rights are protected. Call Tapalian Law to consult with a top personal injury lawyer today!