Calculating a McKinney Truck Accident Settlement

The calculation for the settlement value depends upon many factors surrounding the case. A knowledgeable truck accident attorney could help you understand the nuances of filing a claim and the steps to help you seek compensation. If you or a loved one were injured in a collision with a tractor-trailer, speak to a skilled lawyer who could help with calculating a McKinney truck accident settlement to ensure you get the best deal for your situation.

What are Factors to Consider in a Settlement?

The calculation for the settlement value depends upon numerous factors. In every truck accident case, the factors are a little different. When calculating a McKinney truck accident settlement, one must look into the liability, damages, and available assets.

Liability

The first factor in calculating a McKinney truck collision settlement is the degree of the liability. Establishing how negligent the at-fault driver was could enhance the value of settlement. For instance, if a truck driver drove more hours than they should according to the trucking regulations, operated a truck that lacked proper maintenance, or drove while intoxicated, it could enhance the settlement value of one’s case.

Damages

The second issue to consider is the damages to the person injured. If an individual has more severe injuries, they may be able to receive a higher recovery. For example, people with catastrophic injuries, life-altering injuries that require lifelong care, lifelong pain and suffering, and impairment of a bodily function could recover more compensation than those with temporary or relatively insignificant injuries.

Available Assets

The last factor that always must be considered is the assets of the defendant or the availability of money to pay any judgment. If there is not enough money, then no matter how bad the injuries are or how significant the liability is, the settlement may be limited. In most trucking accidents, there is a minimum of a million dollar policy. Sometimes there are even larger policies, but even with significant injuries, it might not be enough money to cover damages. Many trucking companies, especially the carriers of hazardous materials, also maintain various layers of insurance coverage to provide in the event of a catastrophic loss.

Each of those factors has to be considered when determining whether or not a settlement or settlement offer is fair for the circumstances.

How Should a Claimant Decide Whether to Accept the Settlement?

There are many things that the injured person should take into account when considering a settlement. One issue is the effect of the potential settlement on their lives. The same offer for the same injury for one plaintiff might be an excellent offer, and for another, it might be something that does not interest them at all. For certain people and their facts of life, they have to have the case settled and they have no choice in the matter because of life circumstances. Fortunately, a seasoned truck collision lawyer could review the facts of the case and give their advice on whether settling or not the right move.

How a Truck Crash Attorney Could Help

There are several factors that an attorney will go over with an injured individual when calculating a McKinney truck accident settlement. The attorney has a fiduciary duty to the victim to recommend settlements that are in the individual’s best interest, and that entails knowing the claimant’s situation. For those reasons, it is imperative that the experienced lawyer and the claimant work through the injured person’s needs and the potentials of the recovery before recommending to settle or not.