When victims of large truck accidents seek justice and compensation for their injuries, they’re likely to get a sizable judgment.
According to recent reports, the average verdict against a trucking company found to be at fault for an accident has skyrocketed from $2.6 million in 2012 to over $17 million today.
The average settlement resolution for truck accident cases is also increasing but at a slower pace. While the average settlement two years ago was $2.25 million, today’s average is $2.88 million.
CaseMetrix, an Atlanta-based company that guides legal professionals on settlement values for accidents, compiled those numbers.
Increase in Compensation Has Risen Dramatically in Recent Years
Last year, the average jury verdict for a truck accident was $16.9 million. That in itself is a staggering increase from just two years ago, when the average was for $7 million.
The steep increase has meant some trucking companies have been forced out of business due to insurance rates that have also risen because of the increase in jury verdicts.
Types of Trucks Included in the Survey
While most of the data used by CaseMetrix was based on 18-wheelers, smaller box-type trucks were also included.
When you consider the average large truck weighs 80,000 pounds compared to the 3-4,000 pound weight of the average car, it’s easy to see why such accidents can be so deadly.
Adding to the danger is the reduced maneuverability and longer stopping distance required by truckers.
Why Truck Accident Cases Can be so Complicated
Truck drivers themselves can be independent operators with their own rig or employees of a trucking company.
How you approach taking legal action depends greatly on who actually owns the truck itself and whether the driver is independently insured.
Make Sure You Get All You Deserve by Calling Barber & Associates
When you’re a victim of someone else’s negligence, fighting for what’s right can be too much for one person to bear.
Here at Barber & Associates, we’re proud to have recovered more than $45 million on behalf of our fellow Alaskans who have been injured by others.
To find out how we can secure the justice and compensation you deserve, call Barber & Associates at 800-478-5858 or 978-276-5858.
You can also reach us via email or by completing our online form.