Why are Semi-Truck Accident Settlements So Large?

A Semi truck accident settlement is often larger than normal personal injury or damage awards. The extent of the injury, ownership of the vehicle and legal rules surrounding the operation and ownership of semi trucks cause compensation awards to be larger than normal.

Ownership of the Truck

Semi-trucks are very rarely owned by an individual. Even if they are, these individuals are often employed by a single company, making the truck an extension of the company’s operations. Because a company is usually if not always attached to the operation and maintenance of a truck, settlements are larger because the company’s coffers run deeper. Because the money is there, there is no fear about the company going bankrupt as a result of needing to pay for an accident settlement.

Insurance Coverage

Similarly, most companies that operate or use semi trucks have purchased insurance to cover any accidents they may cause or be involved in. Corporate insurance coverage is better than personal insurance coverage, which means that there is more money to be awarded an injured party. This leads to settlement awards being larger.

A truck that is owned by a sole individual and only used on a contractual basis with several different companies is often required by the state or the contracting employers to carry higher insurance levels. These requirements exist to protect other drivers and to protect the employer against the potential to be sued for an accident that occurs while the driver was engaged in the contract job.

Strict Liability

The legal rule of “strict liability” states that there are some activities that, if engaged in, automatically make the operator liable for any injures the activity causes. Many semi truck activities fall within this category. The most common strict liability semi truck activity is hauling gasoline. In these lawsuits, because there is no defense against liability, insurance companies do not hesitate to pay all and some additional money to compensate an injured party.

Serious Accidents

By their sheer size, semi trucks accidents are often very serious and cause extensive damage and injury. Medical bills and long term effects are often higher, and more often than not semi-truck accidents also involve permanent damage or disability or even the death of an individual. Settlements are higher to compensate for these types of injuries.

Getting Legal Help

If you have been injured in an accident involving a semi-truck, seek legal advice. A lawyer will review the facts of the accident and discuss potential settlement amounts.

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