Truck accidents can result in severe injuries and damages, and victims may be entitled to compensation for their losses. If you suffered a truck accident in New Jersey, one of the most important factors to consider is the compensation you may recover. Here are some factors that can affect truck accident settlements in New Jersey.
Liability
The first factor that can affect a truck accident settlement is a liability. Liability refers to who is responsible for the accident and the resulting injuries and damages. In many truck accident cases, liability can be complex, as multiple parties may be involved, such as the driver, the trucking company, and the manufacturer of the truck or its parts. The more parties responsible for the accident, the more complex the settlement negotiations can be.
Severity of Injuries
The severity of injuries is another factor that can affect a truck accident settlement. You may be entitled to a larger compensation if you have suffered severe injuries requiring extensive medical treatment, rehabilitation, and ongoing care. The severity of your injuries can also affect the time you need to take off work, which can impact your settlement.
Property Damage
Truck accidents can result in significant property damage, including damage to vehicles, buildings, and other property. The amount of property damage can affect the settlement negotiations, as the responsible party may be required to pay for repairs or replacement of the damaged property.
Insurance Coverage
The amount of insurance coverage available can also affect a truck accident settlement. In New Jersey, all commercial trucks must carry a minimum of $750,000 in liability insurance. However, some trucking companies may carry higher insurance limits, which can increase the compensation available to victims.
Settlement Negotiations
Settlement negotiations can also affect the amount of compensation you can recover. Negotiations can be complex, and it is important to have an experienced Teaneck truck accident attorney who can negotiate on your behalf. Your lawyer can work to maximize your settlement by building a solid case, gathering evidence, and dealing with the responsible party’s insurance company.
Jury Verdicts
In some cases, a truck accident case may go to trial, and the jury may determine the amount of compensation the victim is entitled to. The outcome of a trial can be unpredictable, and it is important to have an experienced truck accident lawyer who can effectively present your case to the jury.
Comparative Negligence
New Jersey is a comparative negligence state, which means that if the victim is partially at fault for the accident, their compensation may be reduced by the percentage of fault they carry. This can affect the amount of payment you can recover, mainly if you are found to be partially at fault for the accident.
Summing up
Liability, the severity of injuries, property damage, insurance coverage, settlement negotiations, jury verdicts, and comparative negligence are all factors that can impact the amount of compensation you may be able to recover. Engaging an experienced truck accident lawyer can maximize your settlement and recover the compensation you deserve for your injuries and damages.
