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What a Maryland truck accident is worth depends on several factors. There is a formula we use to evaluate the value of your claim, but that formula is not precise. Moreover, there are other factors we must consider when settling your case versus filing a lawsuit against the defendant, which incurs more costs. Understanding the value of your case is a crucial step in pursuing the compensation you deserve for your injuries. As we will explore, your injuries can be economic as well as physical. Of course, these injuries must be causally related to the truck accident. So long as that is the case, almost anything is compensable. This page provides a comprehensive overview of what a Maryland truck accident might be worth, exploring various elements contributing to the compensation figure.
There is a common set of recoverable damages that you may recover once you prove liability by a preponderance of the evidence. Even for settlement purposes, you must communicate to the adverse insurer that we have sufficient evidence to prove liability if we go to trial. The most common recoverable damages are medical expenses, lost wages, pain and suffering, and, in some cases, punitive damages intended to punish intentional behavior. In other states, it is a lower bar for punitive damages, but intentional conduct is required in Maryland. In the typical truck accident case, you may recover anywhere from $5,000 to several hundred thousand dollars. This depends on the factors that we discuss below. Given the range of compensation available, navigating this legal process may be daunting. Fortunately, our attorneys have handled truck accident cases in Maryland for over 70 years.
Contact our office today for a free consultation at (202) 331-7227.
Countless factors influence compensation when wondering what a Maryland truck accident is worth. While we cannot address every factor that may impact the value of your case here, we do discuss the most common factors that provoke the most questions from clients. For your case, contact our office to discuss what your case may be worth, given any unique factors. And note, whether a blind spot or a rear-end accident, you must establish liability before discussing case value.
Of course, this is the most impactful factor that influences compensation regarding what a Maryland truck accident is worth. There are a few reasons for this. First, the severity of your injuries directly correlates with the medical expenses you incur. For example, if you suffer a tragic brain injury, you may require several brain scans and months of physical therapy to regain movement in limbs due to paralysis. This can require weeks at the hospital and expensive nursing care for the remainder of your life. On the other hand, for a less severe injury like a soft tissue injury, you may require a month or two of physical therapy, and you will be back to your status quo. While not cheap, this is far less expensive than the former example.
There is also the noneconomic damages aspect of a truck accident claim. While medical expense directly correlates to the severity of an injury, your noneconomic damage should compensate you for the pain and suffering you undergo because of that injury.
To be clear, your property damage claim is separate from your bodily injury claim. However, photographs of the property damage to your vehicle can be indicative to a jury that did not witness the accident. For example, if your vehicle only has scratches, a jury might not believe you are in as much pain as you claim. However, if the 18-wheeler crushes your car, the jury will probably find it more persuasive when you tell them how much physical pain and emotional trauma you are experiencing. A picture is worth a thousand words to a jury. Juries are on the hunt for a witness who they can deem uncredible. While you may testify with emotion if your attorney places you on the stand, nothing is as convincing as a picture of the damage done to your vehicle.
A past loss of income or a future loss of earning capacity can be a nonfactor or a major contributing factor to the value of your case. While evaluating what a Maryland truck accident is worth, a loss of income is a critical piece of your special damages or economic damages. Besides the loss of income, medical expenses are the other primary form of economic damage to consider. In many cases, medical expenses represent more value than your loss of income. However, you may be entitled to significant compensation if you are a business owner and can no longer run your company. However, there are caveats to consider.
You have a duty to mitigate your damages. Thus, you cannot simply allow the company to fail. Instead, you must take reasonable steps to save your company. So, if you can hire someone to replace you, you should do that. If you make a good-faith effort to replace yourself and cannot, you must document that effort. Of course, if you are in a coma and unable to act, that will be considered when determining whether you tried to mitigate your damages.
The impact on your quality of life must be considered when evaluating what a Maryland truck accident is worth. A loss of enjoyment or quality of life falls into general or noneconomic damages. Unlike medical expenses and a loss of wages, this category is imprecise. One jury may place a wildly different dollar amount on a loss of enjoyment of life than another jury. This also depends on the county where your truck accident occurs in Maryland.
Insurance plays a monumental role in what a Maryland truck accident is worth. While your case may have a value of $6 million, if the insurance policy has a maximum limit of $1 million, you may only be able to settle your case for $1 million. Of course, this also depends on the assets of the trucking company. For example, if the trucking company is a small business with three trucks and a low worth, we may be better off settling for the policy limits. On the other hand, if a company like Amazon strikes you, and for some reason, their insurance limits are only $1 million, it may be worthwhile to sue for the actual value.
Of course, we recover from the trucking company’s insurer in almost all truck accidents, not the company directly. Thus, the insurer’s role is vital when negotiating a settlement between our attorneys and counsel for the insurance company, not the trucking company. However, counsel from the trucking company may be present for larger cases, as they may need to chip in for larger recoveries beyond the policy limits.
The legal process for recovering compensation when you know what a Maryland truck accident is worth follows steps similar to the one set forth. But note that every case is different. If you want to pursue your injury claim, it is best to speak with an attorney.
Contact the attorneys at Gelb & Gelb today to learn what a Maryland truck accident is worth. With seven decades of experience, we are acutely aware of how to evaluate a case’s value.
Call today at (202) 331-7227.
Copyright © 2024 Gelb & Gelb, P.C. All rights reserved.