In February 2022, the New York Police Department (NYPD) reported 577 large commercial vehicles (6 or more tires) involved in a collision. From the same report, most of the injured victims are motorists (1421), and the pedestrian group reported the most deaths (10).
Injured victims are entitled to recover compensation for their damages. However, identifying the actual cost of a trucking accident is a challenge. Aside from physical and property damages, other factors could affect the value of your case.
Identifying the cost of a commercial truck accident may be challenging. There are a lot of factors weighed when determining the direct and indirect costs of truck accidents. In general, minor accidents have lighter costs than serious accidents.
Minor Car Accidents
Suppose you are involved in an accident, and you sustained no injuries and repairable car damages. In that case, it can be considered a minor accident. In most cases, a minor accident costs around $200 to $1000.
For example, a car was driving up behind you and hit your rear end. The slow-running vehicle collided with your vehicle with a minor impact, denting the behind of your car. Since you did not sustain any injuries and the car dent is repairable, it’s a minor accident.
Serious Car Accidents
A severe car accident involves irreparable car damage and severe injuries. Often, these injuries lead to permanent disabilities and even death. A catastrophic car accident usually costs up to $5,000 or more, depending on the severity of damages sustained.
For example, a large commercial truck in front of you made an abrupt stop in the middle of a highway. This caused you to collide with the truck’s rear-end, crushing your lower limbs. Since the accident destroyed your car beyond repair and you sustained a debilitating injury, this is a severe accident.
What Can Affect The Cost Of A Truck Accident?
The direct costs of trucking accidents are determined by the severity of damages sustained by the victim. The state requires negligent truck drivers and their trucking companies to repay the damages suffered by accident victims.
Here are some of the factors used to identify the cost of truck accidents:
Medical Expenses
Medical expenses are the most significant factor determining the value of a truck accident case. Doctor’s fees, medical bills, diagnostic fees, and the cost of medications could ramp up the value of your accident case.
The more medical attention you need, the more money you will need to spend. Therefore, the amount of compensation you can receive will be much higher. Since this is the most significant contributing factor, it’s vital to have a reliable lawyer estimate your medical damages.
They can provide you with an accurate ballpark figure of your damages. Knowing how much you are qualified to receive can prevent the opposing party from minimizing your compensation.
The Severity Of Your Injuries
The degree of the injuries you incurred can also affect the value of your case. A truck accident involving severe injuries is more challenging to resolve. Moreover, severe injuries are more expensive to treat, and appointing liability may not be easy.
Property Damage
In a truck accident, property damage is inevitable. Your motor vehicle is considered personal property under state law. Victims can recover compensation for the damages incurred to their car.
There are also instances when a truck collides with your house or within your residential property. Your lawyer will also consider these damages and add to the total cost of destruction you sustained.
How Much Your Life Was Impacted
In some cases, the truck accident caused significant damage to the victim’s life. The case’s value is then determined by how much the victim’s quality of life has changed.
Factors included are future earning potential, lost wages, caretaking costs, and pain and suffering. If the victim can no longer work or take care of themselves, their case value will be much higher.
A truck accident lawyer can help you identify all the factors affecting your case value. They will also provide you with an estimate of how much you could potentially receive in damages. Knowing this information in advance can prevent the opposing party from lowballing your compensation.
Calculating Damages After A Truck Accident
As stated above, victims are entitled to compensation following a truck collision incident. However, you are also entitled to more damages than medical costs and property damages.
Victims can recover economic and non-economic damages following truck collisions. Most commercial truck insurance policies provide enough coverage for an average truck accident.
Your semi-truck accident attorney can help you estimate the value of recoverable damages for your truck accident case. Here’s what’s usually included when computing for compensation in a truck accident:
- Medical expenditures: Medicine, doctor’s appointments, therapies, continuous treatment, diagnostics, etc.
- Property damages
- Income damages related to a truck accident: Ongoing loss of profit, lost wages, loss of potential earnings.
- Pain and suffering
- Loss of ability to live an everyday life
- Legal services fee
- Loss of consortium
Depending on the nature of the accident, the court may also award the responsible party for punitive damages. Punitive damages are usually treated as a punishment rather than compensation for the injured party.
How Can A Truck Accident Lawyer Help You?
Truck accident lawyers have a profound understanding of the transportation industry. A lawyer who understands the trucking industry can help you navigate through various trucking accident cases. Our law firm has experience handling tractor-trailers cases, semi-truck collisions, large truck accidents, etc.
Hiring a lawyer to represent and handle your case can make communicating with the responsible trucking company easier. Your attorney will estimate all costs related to your case and negotiate with the defendant appropriately.
A passionate lawyer will prioritize building a strong attorney-client relationship. An experienced lawyer will handle your case with confidentiality and efficiency.
Truck Accident Lawyer Near Me | Contact Us Today To Speak With A Truck Accident Attorney
Are you involved in a trucking accident in New York? Contact our commercial truck accident lawyer now to initiate your free case evaluation with no hidden costs! Our esteemed lawyer works on a contingency basis. You don’t have to pay until we win your case!
Contact Giordano Law Firm now at (646) 217-0749. You can also reach our truck accident attorneys using our online contact form.