What Is the Average Settlement for a Truck Accident in Texas?
The average settlement for a truck accident in Texas ranges from several thousand dollars to millions of dollars. A truck accident may result in damages of a few hundred thousand dollars. A catastrophic truck accident may cause millions of dollars in damages.
The Federal Motor Carrier Safety Administration (FMCSA) offers an idea of the average cost of truck accidents. A report by the FMCSA provided the cost per crash in 2022. For large trucks, the cost per truck crash was:
- Cost per Non-Injury Crash: $46,765
- Cost per Injury Crash: $383,168
- Cost per Fatal Crash: $14,578,771
The economic impact is only one factor in the average settlement for a truck accident in Texas. Pain and suffering damages are also included in truck accident settlements.
The average settlement for truck accidents in Texas depends on the unique factors and circumstances involved in the accident. Before we discuss the factors that could impact the average settlement in your truck accident case, it helps to understand what is included in a truck accident settlement.
What Is Included in the Average Settlement for a Truck Accident in Texas?
Texas tort laws give accident victims grounds for seeking compensation for damages caused by the truck accident. Compensatory damages are intended to “compensate” the victims for their losses.
Economic damages compensate victims for the expenses and monetary losses associated with the truck accident. Examples of economic damages include:
- The cost of medical treatment, nursing care, and rehabilitative therapies
- The loss of income, including unemployment benefits, diminished earning capacity, and lost wages
- Out-of-pocket expenses, including personal care, household services, childcare, etc.
In addition to financial losses, compensatory damages include compensation for pain and suffering experienced by the accident victims. Examples of these non-economic damages include:
- Diminished quality of life
- Emotional distress and mental anguish
- Loss of enjoyment of life
- Scarring and disfigurement
- Physical suffering and pain
- Permanent impairments and disabilities
There is a third type of damage that some accident victims may receive. Punitive damages punish defendants for egregious conduct.
Punitive damages are also sometimes (but rarely) awarded by the court.
Factors That Impact the Settlement Amount for a Truck Accident in Texas
Many factors impact the value of a truck accident settlement. Those factors include, but are not limited to:
- Parties Involved in the Case: Numerous parties could be potentially liable for damages. Examples of parties in a truck accident case include the trucking company, another driver, the truck driver, shippers, loaders, a maintenance company, the truck manufacturer, etc. The insurance companies and parties may blame each other for causing the accident to avoid liability.
- Types and Severity of Injuries: Truck accidents can cause catastrophic injuries, including spinal cord injury, paralysis, amputations, loss of limbs, traumatic brain injury, and organ damage. Generally, the value of damages increases with the severity of the injuries. For instance, permanent impairments could require lifelong personal and/or nursing care. The victim may never be able to return to work, which could result in millions in lost wages over a lifetime.
- Fault for the Cause of the Accident: Parties who contributed to the cause of the truck accident can share liability for damages. Identifying all parties with liability increases the amount of compensation available for damages.
- Evidence Proving Liability: The accident victim has the burden of proving the legal elements to establish liability. The stronger the evidence proving causation and fault, the greater the chance you have of obtaining a fair settlement. When the evidence is weaker, or there could be alternative explanations, the insurance company is not as willing to negotiate a fair amount.
- The Experience and Skill of Your Lawyer: The outcome of a truck accident claim can be heavily influenced by the experience and skill of your legal representation. A knowledgeable truck accident lawyer understands complex federal and state regulations, knows how to uncover hidden evidence, and can effectively counter tactics used by insurance companies and corporate legal teams.
To learn more baout what factors might affect the value of your particular case, reach out to an experienced truck accident lawyer.
Learn More From an Experienced Texas Truck Accident Attorney
Truck accident cases involve complicated issues, including federal trucking regulations, multiple parties, disputed liability, catastrophic injuries, government agencies, etc. Insurance companies and trucking companies aggressively fight claims to avoid paying large truck accident settlements. Hiring an attorney with experience handling truck accident cases ensures you have someone on your side with the resources, experience, and knowledge to take on these parties.
Call a Fort Worth truck accident lawyer for a free consultation to learn more about how much your truck accident settlement could be worth.
Contact the Personal Injury Law Firm of Parker Law Firm Injury Lawyers in Fort Worth for Help Today
For more information, please contact an experienced personal injury lawyer at Parker Law Firm Injury Lawyers to schedule a free initial consultation today. We have convenient locations in Bedford and Fort Worth, Texas.
Parker Law Firm Injury Lawyers – Bedford
2317 Plaza Pkwy #100,
Bedford, TX 76021
(817) 503-9200
Parker Law Firm Injury Lawyers – Fort Worth
209 N Hampton St,
Fort Worth, TX 76102
(817) 839-3143
