How Much Is a Truck Accident Settlement in South Carolina?

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Lawyers tell you that you may be eligible for substantial financial compensation when you have been injured in a truck accident. It is true that you could be in line for more money by virtue of the fact that the truck caused your injuries.

Before you can get a dollar in your case, you need to go through an entire legal process. Call The Law Office of Taylor S. Braithwaite to talk about your case and learn about your own pathway to potential financial compensation.

You have some degree of control over your own case. After all, the insurance company cannot force you to accept a settlement. You can work to maximize your own damages. Everything begins with hiring an experienced lawyer who will study your case and estimate your damages.

If you do not know how much money you can get, you will not get enough money.

Contact our Aiken truck accident attorney to start pursuing a settlement. Your truck accident case could be worth far more than you think.

Why Truck Accident Settlements Tend to Be Larger

There are two reasons why truck accident settlements are, on average, larger than those in a car accident case:

  • The disproportionate sizes of an 80,000-pound truck and a passenger vehicle mean that you will likely suffer more serious injuries in a truck accident.
  • Trucking companies carry more insurance than an individual driver, so there is more money available to pay for your damages.

There Are Minimum Insurance Requirements for a Truck to Be on the Road

Federal trucking regulations require trucking companies and drivers to carry a minimum of $750,000. There are higher coverage requirements for trucks carrying oil or hazardous materials. In reality, insurance companies will not write a policy for less than $1 million in coverage.

While some independent contractors will carry the minimum amount of insurance, trucking companies often have policies that are much larger. They know that their own assets are at risk if they do not have enough insurance coverage to pay for your damages.

The rise in “nuclear verdicts” makes it entirely prudent for trucking companies to carry a high amount of coverage. If a case goes all the way to trial, juries have shown an increasing penchant for punishing the trucking company for extreme negligence or recklessness.

There have even been cases where the trucking company has been put out of business by angry juries. Trucking companies could face punitive damages when they have deliberately disregarded trucking regulations or have a culture of noncompliance.

Factors that Influence Your Truck Accident Settlement

Your truck accident settlement is a product of two primary factors:

  • Your own specific injuries
  • What you are able to negotiate in a settlement

Your Damages in a Truck Accident Settlement

Your truck accident settlement depends on the harm that you have suffered. You have the obligation to prove your own damages to be paid for them.

You could receive the following in a truck accident settlement:

  • Medical bills
  • Lost wages
  • Pain and suffering
  • Loss of enjoyment of life
  • Scarring and disfigurement
  • Embarrassment and humiliation

Your attorney would estimate the value of your damages so you can seek that amount in a settlement agreement.

Your Settlement Could Be Reduced if You Were Partially at Fault

Your own actions would also be an issue in a truck accident case. The insurance company may try to blame you in whole or in part for the accident. If they succeed, your own fault could reduce the amount of money that you could get or even keep you from getting a settlement at all.

In South Carolina, claimants who are 51% or more to blame for the accident cannot get anything for their damages. Your attorney would need to defend your own actions because you can find yourself under attack in spite of your serious injuries.

You Need to Negotiate Extensively to Get What You Deserve

You would need to negotiate your settlement with the insurance company. They know what your case is worth, practically down to the dollar, not long after you file it. Their goal is to save as much as they can off that figure.

It will take a considerable amount of time for you to get your truck accident settlement check.

While the timeframe for each case depends on the unique situation, you should not expect to have your money in less than twelve months. The insurance company is not going to make you their best offer first. They will make you a low settlement offer, and your attorney will need to press them to raise it over time.

First, your attorney and the insurance company will need to engage in a protracted negotiation.

The insurance company does nothing fast unless they want to pressure you into accepting less than you deserve in your case. If the insurance company is being anything other than glacially slow, you need to be very suspicious.

Trucking Companies Are Scared of Juries. Take Advantage of That Fact.

When you hire a truck accident lawyer, you have far more leverage than you think in a truck accident claim. The insurance company (and their trucking company policyholder) has every reason to be afraid of you. They see eye-popping verdicts that could cause them a major financial hit, and they want to avoid the prospect.

When you have a lawyer who knows the right pressure points and how to maximize your advantage, you stand a better chance of obtaining a full and fair settlement for a truck accident.

Contact a South Carolina Lawyer to Discuss Your Truck Accident Settlement

Your legal rights are on the line right after your truck accident. They need to be protected at all costs, and TSB Injury Law can work towards that goal. For your part, you should contact us right after the accident, so we can get to work on your behalf. You can begin the legal process by calling us at (803) 220-0000 or by sending us a message online. Attorney Taylor Braithwaite is a personal injury lawyer that represents the injured on a contingency basis, so you pay nothing upfront.


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