Table of Contents
Introduction
Truck crashes often involve major injuries. Victims of truck accidents likely face complex legal issues in obtaining a fair settlement. The aftermath of a truck collision can result in emotional trauma, physical injuries, property damage and financial losses. However, the good news is that the victims are entitled to compensation for their losses through filing a claim.
But navigating the consequences of a truck accident can be overwhelming. Getting legal expertise can be a wise decision in such scenarios. There are still potential questions that arise among victims: How do I compare fees and settlements of truck crash law firms? How much should I pay for legal claims, and what settlement can I expect for my case?
This blog will attempt to answer the most commonly asked questions of victims. It is not about giving any legal advice, but for informational purposes, aiming to give a clear explanation that helps victims make informed decisions.
What Is The Role Of A Truck Accident Lawyer?
Truck accident lawyers are legal professionals with specialized expertise in handling the complexities of legal cases for people involved in truck accidents. This may include semi-trucks, commercial delivery trucks, tractor-trailers, 18-wheelers and other large vehicles.
Truck accidents are not like other motor vehicle accidents. Other than the potential for severe injuries or property damage, truck collisions also involve complexities such as:
▪ Complicated state and Federal laws
▪ Multiple potentially liable parties
▪ Insurance complications
▪ Unique evidence
This is where a truck accident lawyer’s role comes in. Here is what you should know about the key roles and responsibilities of a legal expert:
1. Investigation and evidence gathering
The legal professionals will work with accident reconstruction experts, medical professionals and other experts to analyze the accident scene, gather and preserve crucial evidence that supports claims.
2. Determining liability
They will identify and determine the liability of potential parties in the accident. They will collect evidence that proves the negligence of one or more parties contributing to the collision.
3. Navigating Regulations
The critical role of a truck accident lawyer often involves navigating the complexities of state and federal regulations and interpreting them to build a strong case.
4. Case Preparation
After gathering all required pieces of evidence, the truck accident lawyer will curate their legal strategy and prepare for the case.
5. Negotiation with insurer
Insurers generally try to settle claims for the lowest possible amount. The skilled attorney can support victims to preserve their rights and pursue a fair settlement.
6. Litigation and legal representation
In case a fair settlement is not reached, the truck accident lawyer files a lawsuit on behalf of the victim. They will represent clients in court, submit evidence and present their argument to secure a favorable verdict.
How Truck Crash Law Firms Charge Their Fees?
The common fee structure that most truck crash law firms follow is a ‘Contingency Fee’.
Contingency Fee
This means that the victims don’t pay the law firm any upfront fee till the case is successful.
With this structure, victims can expect:
▪ Free initial consultation – no upfront cost
▪ No bills raised as legal fees while the case was in progress
▪ Upon a successful claim, the firm charges a percentage of the settlement for its legal representation.
What’s the average contingency fee of truck crash firms?
A law firm’s contingency fee can range from 33.33% to 40% of the settlement.
The percentage can be determined based on:
● Complexity of the case
● Timeline taken for resolution
● Expertise and experience of a legal firm
● Level of risk involved
● Whether the case goes to trial
● Geographic area of the firm
● Number of parties involved in the case
Hourly Fee
Under this, the clients pay a legal firm for every hour the team works on the case. This structure works for clients of straightforward cases seeking financial flexibility.
Flat fee
This involves a fixed charge for specific legal services. Here, the clients pay the truck crash firm a fixed amount for the entire case. This structure can be ideal for simple cases with clear budgets and legal requirements.
Additional costs to consider beyond the law firm’s fees
✔ Court and filing fees
✔ Expert witnesses fees
✔ Court reporter fees
✔ Gathering evidence costs
✔ Postage cost
✔ Case-related Travel expenses
✔ Fees for medical records copies
✔ Expenses related to paper and/or digital copies of the truck crash report
Typically, these expenses can be deducted from the award or settlement. However, it’s recommended to confirm with the truck crash firm whether the additional fees will be deducted before or after the legal expenses.
Fee Comparison Of Truck Crash Law Firms
Comparing Legal Fee Structures – Contingency vs. Hourly vs. Flat Fee
Contingency Fee
Pros:
Clients don’t pay unless they win the case, thus it is a low-risk choice. If the victims don’t secure a settlement, they owe nothing to the law firm.
Cons:
If the case settles to a higher amount, the law firm may get a significant percentage of the settlement value.
When to use?
A contingency fee structure is best for personal injury cases where the victims lack upfront funds.
Hourly Fee
Pros:
Clients pay the legal firm only for the time they worked on the case, enabling quick case resolution.
Cons:
Need to pay the firm even if the case doesn’t win.
When to use?
It is suitable for complex cases with undefined timelines.
Flat Fee
Pros:
Predictable fee structure without any surprising additional fees.
Cons:
The legal firm may lack interest as they receive the same payment even if they work for prolonged hours.
When to use?
It is suitable for simple and predictable cases.
What Factors Determine Settlements in Truck Accident Cases?
If you are wondering what can determine a truck accident case settlement and are looking to compare fees and settlements of truck crash law firms, the answer can be: there are several factors involved.
According to the Federal Motor Carrier Safety Administration (FMCSA), 503,000 truck accidents were reported in 2022. The victims of truck collisions face expensive medical bills, costly vehicle repairs and financial stress. Getting a fair settlement can alleviate the burden.
Still, what determines the average settlement in a truck accident case?
Liability:
Determining liability is a core aspect of determining the truck accident case settlement. Identifying the potentially liable parties can affect settlement outcomes. If multiple parties are involved, the settlement amount can be adjusted depending on the percentage of liability.
Potentially liable parties include:
⮚ The truck driver
⮚ The trucking company
⮚ Third-party defendants, like manufacturers and cargo loaders
Severity of injuries:
The more severe the injuries, the higher the potential truck accident settlement. Truck collisions can often result in major injuries that may require extensive medical treatment. This increases the value of the settlement.
Medical expenses:
The consequences of a truck crash can involve expensive medical bills. Typical settlement amount covers emergency medical care, surgeries, medication, hospital stays and future medical costs, if any.
Property Damage:
The damage to the vehicle or personal property of the victim also determines the value of the truck crash settlement. Truck accidents, in most cases, result in extensive damage/repair to property and settlement value often covers the full extent of property damage involved.
Pain and suffering:
Truck accident victims can pursue non-economic damages, like pain and suffering, and this plays an essential role in determining the settlement value. Typical non-economic damages include:
▪ Physical Pain
▪ Emotional Distress
▪ Anxiety and depression
▪ Loss of companionship
▪ Loss of enjoyment of life
▪ Psychological disorders
Insurance coverage:
The insurance coverage of the truck driver, trucking company, or other parties can define the recovery limit. Commercial truck insurance coverage will usually carry higher policy coverage compared with regular cars.
Loss of future earnings and income:
If the victim of the truck accident lost his potential to return to work temporarily or permanently due to the injuries in the accident, the settlement value can be considerably increased.
What are the Average Settlement Ranges in Truck Accident Cases?
There is no standard settlement value in truck accident cases. The outcomes can depend on the above-listed factors of the specific case.
Average settlement in Truck accident cases of truck crash law firms can range from tens of thousands to millions. However, we can look into the recent reports to understand the average settlement value.
As per SupplyChainBrain, the average settlement in truck accident cases from 2015 to 2023 was $73,109.
In case of minor injuries, like small fractures or soft-tissue injuries, that involve less than a week of recovery period, the settlement value can range from $75K to $200K.
For serious injuries, major fractures or surgeries, the average settlement value can range from $300K to $1M.
For cases that involve wrongful deaths or catastrophic accidents, the settlement value can extend beyond $2 million.
These are approximate values to expect. The exact settlement amount varies widely and is calculated by the truck crash firm based on several factors.
Comparing Truck Crash Law Firms beyond Fees
When pursuing truck accident claims, it’s important to compare truck crash law firms beyond just legal fees. If you have been hurt in a truck crash, you are entitled to expert legal representation. It’s good to compare fees and settlements of truck crash law firms and seek guidance from the right truck crash firm for a fair settlement. But how to compare? Here are the core aspects:
Experience in truck crash cases
Choose a legal firm that has specialized expertise in handling truck accident cases.
Proven track record of success
Take time to research the track record of success of the law firm. You can conduct an extensive online search, read clients’ testimonials and outcomes of the cases.
Transparent fee structure
Before hiring the law firm for your case, discuss and learn about their fee structure and payment choices.
Trial-Ready Representation
Though most cases are resolved through settlements, if the case requires litigation and legal representation, the law firm should be ready to take the case to trial.
Resources
Truck accident cases require expert investigation, extensive litigation and legal support. The firm you choose should have essential resources to properly investigate and gather evidence to build a compelling case.
Comparing Settlements Of Truck Crash Law Firms
Settling out of the court
A truck accident settlement is typically an agreement where the involved parties in the truck crash resolve the liability of the case and pay out without going to trial.
Benefits of settlements:
Faster resolution
Settlements probably take less time than litigation.
Lower costs
A truck accident settlement often involves fewer costs.
Certainty of outcome
Settlements are guaranteed payouts.
Reduced stress
Settling early and out of court alleviates stress related to the trial.
Cons:
Potentially lower compensation
Insurers may settle the case for the lowest amount possible.
Case closure
Agreeing to a settlement forfeits the rights of the victim to pursue any further legal actions.
Truck Crash Trial
A truck crash trial involves taking the case to trial.
Benefits:
Potential for higher compensation
Trials can lead to higher compensation value.
Access to punitive damages
In some cases, the jury may award victims punitive damages if the accident is due to reckless behaviour.
Public record
Since court trials are public proceedings, the actions of the trucking company will be recorded, which highlights violations in safety standards and makes the trucking company liable.
Cons:
Longer timeframes
Trials can be lengthy, ranging from a few months to years.
Higher costs
Litigation is comparatively more expensive than settlements.
Uncertain outcomes
There is no guarantee of winning the case or obtaining compensation.
Making The Right Decision
So, you aim to compare fees and settlements of truck crash law firms. We hope this blog gives you a detailed understanding of the various fee structures of truck accident law firms and feasible settlement choices.
When it comes to fee structure, the contingency fee is most preferred among victims as they have legal representation without any upfront costs or raising hourly bills. However, it is always recommended to consult with the legal firm about their fees, inclusions and make informed decisions.
When choosing between settlement and trial, it all depends on your case. Settling is quicker and less stressful, but often involves lower compensation. Trial can give higher compensation and is more public. However, it takes a long time and legal expenses.
Finally, the solution is based on your unique situation and demands.