Many people want to know what kind of settlement they could be entitled to in their truck accident injury case. Averages of settlements that other people have gotten can be difficult to find, and they are often unhelpful indicators of what your case could be worth.
Instead of looking at averages to help determine what your case’s value, our lawyers instead look at the facts of your case and can help calculate damages based on the harms you specifically suffered. Averages are often difficult to find data on, especially since most settlements occur out of court and many are confidential. Especially when it comes to damages for pain and suffering, many cases are far from “average.”
For a free review of your truck accident case, call Legal Care’s New Jersey truck accident lawyers today at (732) 838-9769.
Average Settlement Data for Truck Accidents in New Jersey
It is difficult to obtain data on average settlements for most types of personal injury cases. While data is sometimes tracked on in-court awards from jury and bench trials, similar data is not always collected for settlements. Moreover, many companies involved in settlements from injuries their employees caused out in the world would like to keep those settlement amounts confidential. Insurance settlements also fail to account for how much serious injuries could be worth.
Trucking companies often insist on confidential settlements for a couple of reasons. First, these companies do not want to telegraph how much money they have and how much they are willing to pay for injury settlements. Second, these companies do not want to give injury victims an idea of how much severe injury cases can be worth because they rely on these case values being a mystery. This helps them settle new cases at low-dollar values, as the victims won’t have a point of comparison.
Moreover, many truck accident cases are handled through insurance claims. After an accident involving serious injuries, our Newark truck accident lawyers might be able to take your case to court. However, most truck accidents are not serious and might involve property damage only or mild injuries. If these cases are settled through insurance, any average settlement might be very low, as insurance claims do not pay damages for pain and suffering unless there are “serious” injuries involved. These averages are ultimately less than helpful when it comes to understanding what your case should be worth if you suffered serious injuries.
Calculating Settlement Values in an NJ Truck Accident Injury Case
If your goal is to calculate what your injury case should be worth, then it is better to look at the facts of your case rather than the “average” case. In reality, most cases are far from average, and information on what your specific case could be worth will be more helpful.
To calculate damages in your case, you will need to look at two general categories of damages: economic damages and non-economic damages.
Calculating Economic Damages
Economic damages include damages for any monetary harms you faced from the accident. While we tend to think of your physical injuries as the most important piece of damages in an injury case, the economic damages you can claim are instead used to cover the financial impact of that injury. These damages typically cover medical expenses, lost wages, lost household services, vehicle damage, and other bills and expenses the injury caused.
To calculate these damages, you essentially add up all of the bills. However, there may be some ongoing expenses you can also claim damages for. Projecting these damages can require the help of a financial expert. Our Jersey City truck accident lawyers often hire experts to calculate these damages and help prove the cost in court.
Additionally, calculating economic damages can mean hiring an expert to examine your future lost earning capacity. This means making assessments about how much you make and what raises you could have received in the future if your injuries had not impacted your ability to work.
Calculating Non-Economic Damages
Non-economic damages account for the rest of the harms you faced. While economic damages would cover, for example, the medical bills to treat your injuries, non-economic damages cover the pain and suffering of those injuries. This includes damages such as emotional distress, lost enjoyment of life, mental anguish, fear, embarrassment, and discomfort as well as pain and suffering. These damages all tend to be grouped under the name “pain and suffering,” with no distinction made among these specific categories.
Calculating pain and suffering damages is going to involve a process that’s very particular to your situation. Our NJ truck accident lawyers will look at what injuries you suffered as the main indicator of pain and suffering damages. Most courts will award higher pain and suffering damages for more serious injuries and lower pain and suffering for lesser injuries. However, we will also look at other factors, such as the effect on activities of daily living (e.g., dressing yourself, getting around the house) or other activities you enjoyed before the accident (e.g., hiking, playing tennis).
When pursuing an auto accident case, pain and suffering damages are not actually allowed unless they meet certain “serious injury” thresholds. For this reason, many statistics on averages might not even account for these damages, severely undercutting your impression of what your case should be worth. It is important to have an Elizabeth car accident lawyer review your case to help calculate pain and suffering and to determine whether these damages are available in your case.
Call Our New Jersey Truck Accident Injury Lawyers Today
If you were hurt in an accident and need help getting compensation, call Legal Care New Jersey today at (732) 838-9769. Our Edison car accident lawyers offer free case reviews.
