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What Is a Good Truck Accident Settlement?

Truck accidents are devastating. In many cases, they leave victims with severe injuries, monumental costs in medical bills, long-term rehabilitative care, lost wages, and more. In the wake of such a traumatic event, you may feel overwhelmed thinking about all the costs you now face, and you may not know what to do.

You do not have to go through this situation alone. By working with a qualified personal injury firm to file a truck accident claim, you may achieve three objectives:

  • Obtain the compensation you need to get the care you deserve.
  • Hold the negligent trucking company accountable for its actions.
  • Protect other drivers from trucking company recklessness.

Is there a specific amount that determines whether a truck accident settlement is “good”? That depends on whether the negotiated settlement provides financial relief for such things as:

  • Loss of future income
  • Long-term rehabilitative care or live-in assistance
  • Home remodeling costs to provide handicap accessibility
  • Psychological and emotional counseling
  • Emotional anguish, including pain and suffering and loss of consortium

While settlement amounts from truck crashes can vary greatly, your attorney should work to achieve a significant settlement potentially in the multi-million dollar range if you have significant claims for damages. Not every law firm is capable of achieving this result, however. We have found that it takes decades of experience going up against large trucking companies and their insurers to have the best chance of securing maximum compensation. At Baum Hedlund Aristei & Goldman, our Los Angeles attorneys have more than three decades of experience fighting on behalf of those injured in devastating truck accidents.

What Factors Influence a Settlement Amount?

Truck accident settlements vary in accordance with which party is at fault. If multiple parties caused or contributed to an accident, attorneys for the victim (or victims) may seek damages that amount to a substantial settlement.

Trucking companies may have large insurance policies that can often cover a victim’s medical bills, lost wages, and more for the remainder of their life. However, the trucking company may not be the only party liable for a crash. Aside from the trucking company, other parties that may be required to pay in a truck accident case include:

  • The driver of the truck
  • The company leasing the truck
  • The broker that contracted with the trucking company
  • The shipper whose goods are transported in the trailer
  • The manufacturer of the truck
  • The manufacturer of the truck’s parts

While the facts of each case will determine the at fault parties, the skill of your attorney will influence the amount of damages you may recover in a settlement. Truck companies are backed by large insurance companies that will do everything in their power to avoid paying what is owed. As such, truck accident cases require the assistance of a qualified attorney to go up against an insurance company’s resources.

Baum Hedlund Aristei & Goldman is a Los Angeles trial law firm with nationally-recognized experience in truck accident law. One member of our acclaimed legal team, Diane Marger Moore, is a Board-Certified Truck Accident Attorney and a member of The National Trial Lawyers Top 10 Trucking Trial Lawyers.

Our truck accident litigation team has won several multi-million-dollar settlements and verdicts, including the following:

  • $20 million commercial vehicle verdict for wrongful death against Ride the Ducks International
  • $15 million tractor trailer vs. pedestrian for catastrophic injury
  • $8.5 million truck accident verdict for wrongful death against Tyson Foods
  • $6.9 million truck accident settlement during trial against a major truck company

When the stakes are high after a truck accident, you need the right team on your side to ensure you can move forward from this devastating event. That’s where Baum Hedlund Aristei & Goldman comes into play.

Learn how we can help you. Call (855) 948-5098 to schedule a free consultation.

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