Truck accident settlements typically include compensation for the various losses a person suffered as a result of an accident. These losses will usually fall into one of two categories, economic damages and noneconomic damages. Below is a brief explanation of what these two legal terms mean.
Economic damages refer to the financial losses a semi-truck accident victim suffers as a result of the incident. For example, if the accident resulted in the victim suffering severe injuries and he/she needed surgery, therapy, and routine medical care, the medical costs arising from all of this would be one type of financial loss a truck accident victim might be entitled to recover compensation for. Although medical costs typically account for a large portion of a settlement amount, there are other economic damages a victim might be entitled to collect. These include:
- Loss of income. This can include income that the victim was unable to earn as well as income they expected to earn in the future had they been able to work.
- Replacement services loss. Examples of replacement services loss include housekeeping and transportation services. This means if an accident victim has been hindered by their injuries to perform their usual day-to-day tasks, they may be entitled to recover compensation for any services they may have had to purchase.
- Property damage.
Noneconomic damages differ from economic damages in that they refer to losses related to physical and emotional pain. Some examples of noneconomic damages include:
- Pain and suffering
- Mental anguish
- Loss of enjoyment of life
- Loss of consortium
- Lowered quality of life
These damages are often difficult to calculate as it can be challenging to put a price on someone’s physical and psychological suffering. While there are many different elements that should be included in a truck accident settlement, it all comes down to the injuries a person suffered and the impact the accident has had on their life.
How much is a fair amount to accept in a semi-truck accident case?
The settlement amount that is awarded in each semi-truck accident case differs as everyone who is involved in these types of accidents are impacted in a different way. Therefore, before a victim can determine what a fair settlement amount is, they should consult with a Jackson, MS truck accident lawyer. The truck accident attorneys at Ballard Law, PLLC have a great deal of experience with handling truck crash cases and have helped hundreds of victims recover the compensation they deserve. To schedule a consultation with a semi-truck accident lawyer in Jackson, MS to learn more about recovering a fair settlement after a truck accident, call 769-572-5111.
You can reach Ballard Law, PLLC at:
108 S. President Street
Jackson, MS 39201