The amount of damages caused by commercial motor vehicle accidents is staggering. The Federal Motor Carrier Safety Administration reports that in 2012 there were $87 Billion dollars worth of damages caused by commercial motor vehicle crashes. These numbers can be quite baffling, but when one understands that the Texas Department of Transportation’s investigation reveals that in 2015 there were 34,230 accidents that resulted due to collisions. Because accidents are influenced by a variety of factors, it can be difficult to assess exactly how much the damages from a commercial motor vehicle accident are worth. This article will examine exactly how much our firm charges to handle a tractor-trailer truck accident personal injury claim based on the various statistics available about these types of crashes.
Important Elements About How Much Your Case Is Worth
There are several important elements to understand about the cost of damages that result from tractor-trailer truck accidents, which include the following:
- Vast Differences in Cost. It is important to understand that a client’s claim process will be very different from an automobile accident involving a passenger vehicle. Based on the types of commercial motor vehicle insurance that exists, it might even be possible that there are multiple commercial policies that exist for a truck that has caused injuries in a commercial motor vehicle wreck. The exact cost of an accident involving a commercial motor vehicle accident can vary greatly based on the circumstances of how an accident occurred.
- Difficult to Determine to Dollar Amounts. Until a commercial motor vehicle accident has been assessed on an individual basis, it is impossible to determine a dollar value for how much an individual can expect to receive until there has been a full investigation into the claim. Based on exactly how the accident occurred, how negligent the commercial motor vehicle operator was in causing the accident, and the various factors that influenced the accident, the costs that can be born from an accident vary greatly. No two commercial motor vehicle accidents are the same and as a result the cost of these two accidents is never the same. As a result, it can be difficult to determine an exact dollar amount of a commercial motor vehicle accident without first determining specifically how the accident occurred.
- Maximum Insurance It is important to understand how much insurance is available to understand the maximum potential recovery of a personal injury claim. It is important to understand how much liability insurance the opposing driver has. Once liability insurance amounts are determined, it is important to examine any additional liability insurance possibilities. Parties should then determine maximum insurance policy limits. The reality is that many insurance policy limits and regulations can come into play when determining the amount of recoverable damages due to a commercial motor vehicle accident. Ultimately, the amount of damages that result from an accident depend on the at-fault driver’s policy limits. In the event that damages are greater than the limits on insurance policies of the at-fault driver, however, there are still available options including uninsured and underinsured motorist coverage and suing the defendant for the amount of damages.
- Variety of Factors That Will Influence How A Commercial Motor Vehicle Accident Will Be Assessed. There are a variety of factors that determine how much a commercial motor vehicle accident will be worth including the total amount of medical bills, the expected future cost of medical bills, the lost wages from work missed due to injuries incurred from the accident, the loss of companionship from the injury, the pain and suffering due to the accident in addition to any property damage, emotional distress due to the severity of injuries that result from the accident, punitive damages which are intended to punish malicious parties, and negligence laws which are designed to assess any fault that the driver might have had in contributing towards the accident. There are a variety of factors that can be determined on a case by case basis that influence the exact cost of how much a personal injury accident is worth.
- Commercial Motor Vehicle Accidents Are Different from Passenger Vehicle Accidents. There are several specific reasons why commercial motor vehicle accidents are different from accidents involving passenger vehicles which include the variety of commercial truck laws, vicarious liability issues in which an employer is responsible for an employee who is operating a commercial motor vehicle, and the increase number of parties involved during a commercial motor vehicle accident. All of these factors can determine the cost of how much a commercial motor vehicle accident is worth.
In short, based upon how your commercial motor vehicle occurred and the varying complexities of your case, your case can vary greatly in the amount of costs that are charged by our law firm. If you or a loved one has been injured in a commercial truck accident, contact Michael A. Freedman for assistance with your case today.