Semi truck accidents are some of the most serious vehicular incidents on the roads today. The size and weight of a semi truck is much greater than that of a typical passenger vehicle, so when they’re involved in an accident it can cause significant damage and injury.
When a semi truck is involved in an accident, legal proceedings may be necessary to determine who is at fault and to establish compensation for those affected. The amount of the settlement will depend on the particular circumstances of the case, including the extent of any injuries or property damage caused by the crash.
Factors That Affect Semi Truck Accident Settlement Amounts
The amount of an average semi truck accident settlement can vary widely depending on several different factors. Some of these include:
- The severity of any injuries: Serious injuries such as broken bones or permanent disability can significantly increase the size of a settlement.
- The extent of property damage: If there is extensive property damage, such as to multiple vehicles or structures, this too can lead to a higher settlement amount.
- Negligence: If one party is found to have been more negligent than another, then they will often be required to pay more in damages.
- Insurance coverage: Insurance coverage can also play a role in determining how much is awarded in a settlement.
Average Semi Truck Accident Settlement Amounts
The amount awarded in an average semi truck accident settlement can vary greatly based on all of these factors. According to recent studies, settlements for these types of accidents range from as little as $1,000 up to $500,000 or more.
It’s important to note that many cases are settled outside of court for significantly less than this amount.
Conclusion: What Is The Average Semi Truck Accident Settlement?
The amount awarded in an average semi truck accident settlement depends on various factors such as the severity of any injuries sustained, extent of property damage caused by the crash, negligence and insurance coverage. Recent studies show that settlements range from as little as $1,000 up to $500,000 or more but many cases are settled outside court for significantly less.