How the Value of a Truck Accident Personal Injury Claim is Calculated
Have your Colorado truck accident claim reviewed by a personal injury attorney for free
The final value of a truck accident personal injury settlement depend on the extent of injuries and the types of financial compensation that a plaintiff is entitled to under Colorado law. The financial damages that are recovered in a truck accident case will compensate you for the injuries that you or your loved one suffered due to the actions of a negligent truck driver, trucking company or other third-party.
Commercial truck accidents often result in severe injuries that require expensive medical and rehabilitation services. Learn more about recovering damages after a truck accident.
Only a qualified truck accident lawyer will be able to accurately tell you how much your case is worth and what damages you qualify for. Contact the Babcock Law Firm, a leading Colorado personal injury law firm in Denver, to schedule a free case review so that we can estimate the value of your truck accident claim.
5 Factors That Determine the Value of Your Colorado Truck Accident Claim
Although no attorney can absolutely guarantee the outcome of your case or the exact amount of financial damages in a truck accident claim, an experienced truck accident lawyer can realistically estimate the potential value of settling your claim or taking it to court.
Among the factors that will be considered are the cause of your accident, the extent of your injuries, and the anticipated costs associated with treating your injuries. Some truck accident victims are entitled to emotional and punitive damages in addition to being compensated for the cost of obtaining appropriate medical care.
1. Medical Care
Truck accident victims often require thousands or even millions of dollars in long-term medical care. Many personal injury victims are saddled with a lifetime of financial debt as a result. You may be entitled to financial compensation to cover emergency medical services, surgical and other medical procedures, hospitalization, rehabilitation, and any future medical expenses to treat your injuries.
2. Property Damage
A truck accident settlement often includes the cost of vehicle repair or replacement, damage to buildings or other structures, and the contents of a car or truck that were damaged or destroyed.
3. Emotional Distress
Truck accident victims may suffer from traumatic stress disorder following a severe injury caused by a major crash. A truck accident attorney can help seek emotional damages on behalf of a victim in such cases, such as pain and suffering, undue stress, depression, etc.
4. Lost Wages
If a truck accident victim is unable to work for days, weeks or months as the result of injuries suffered, a personal injury lawyer can seek financial compensation on their behalf for any wages and income lost.
5. Punitive Damages
In rare cases, punitive damages may be sought as part of a personal injury or wrongful death lawsuit when the actions of the at-fault party are deemed to be egregious in nature. It’s important to speak with a Colorado truck wreck lawyer to have your accident claim properly reviewed.
Colorado Truck Accident Comparative Fault & Settlements
The amount of financial damages that a truck accident victim can be granted may be reduced if they were found to be partially responsible for the truck accident. Personal injury claims are subject to a comparative fault rule in the state of Colorado. This means that a portion of any financial settlement will be deducted in such cases.
For example, if you are assigned 10 percent of the responsibility for a Colorado truck accident, 10 percent of the final settlement will be deducted from the financial damages that you receive. For this reason, you should speak with an experienced truck accident attorney to ensure that you receive the financial compensation that you and your family deserve.
Many Colorado truck accident cases never reach the trial stage. It’s essential that you speak with a truck accident attorney before agreeing to an out-of-court financial settlement.
Trucking and insurance companies employ a general formula to assign a financial value to truck accident cases. The formula may be a useful tool for evaluating the general merits of your truck accident case, but it is just one of many factors that should be included in a comprehensive accident case review.
One common formula used to determine the value of a financial settlement is calculated by multiplying the cost of medical expenses by a predetermined multiplier to estimate the amount of pain and suffering. The value of other recoverable damages is then added to the figure to attain a rough settlement amount.
Free Colorado Truck Accident Case Review
The Babcock Law Firm knows how to evaluate and settle Colorado truck accident claims. Contact us to schedule a free, no-risk consultation at our legal office in Denver. You pay nothing unless we obtain financial compensation on your behalf.