Calculating Maryland Truck Accident Settlements

Following a car accident, there are a lot of decisions that need to be made. One of the most important decisions being whether you want to pursue litigation or would prefer to settle. If you decide to settle, it is important to work with an attorney that has experience calculating Maryland truck accident settlements. A skilled truck accident lawyer could pursue a positive outcome for you.

How is Settlement Value Calculated?

The settlement value is calculated by looking at a person’s economic and non-economic damages. Economic damages are those that the person can list on paper, such as medical bills and related expenses, loss of income, or loss of future employment because of the injury. Non-economic damages constitute a grayer area. Not only are attorneys capable of calculating Maryland truck accident settlements, they could also advocate for a better settlement value.

Role of the Jury in Settlement Calculation

The role of the jury is that of a fact-finder in calculating a settlement. The jury determines whether someone in the trial should receive the amount of damages sought. An insurance company looks at facts of the accident and how they would be considered by a potential jury, taking into account how the jury might react to the lawsuit, possibly increasing the potential settlement for the injured plaintiff.

How Can Contributory Negligence Impact Settlement Amount

In Maryland, contributory negligence could bar the injured person from receiving a settlement amount even if they are just one percent at fault. An insurance company often will try to settle because it does not want to go through the expense of litigation, even if the other person was negligent. The insurance company may decide that it could settle for less than the cost of litigation even if the law would bar the injured plaintiff from receiving any damages. The person should still consult an attorney to be sure they not only can get a settlement but that it is a fair amount.

Aspects of Settling an Account

When calculating Maryland truck accident settlements, the injured parties should also take into account the permanency of their injuries. They may recover in two months or their injuries may be permanent. The person should understand that they may not recover from their injuries for the rest of their life. That is why they need to ensure that they get the maximum value in a settlement.

An attorney can expedite the process for a settlement by ensuring that all of the medical providers are known and gather that information. With it, they could determine the facts from the police report to draft a demand letter to expedite recovery.

Issues When Negotiating a Settlement

Some of the issues a person might encounter when negotiating a settlement are efforts by an insurance company to limit its exposure by taking advantage of any negligence they see on the person’s part, gaps in medical treatment, and possible other causes that may have occurred between the accident and treatment. Issues such as those are part of the settlement negotiation and why the person should have an experienced advocate to work for a favorable settlement amount.

How Maryland Truck Accident Attorneys Help Determine the Value of a Settlement

Maryland truck accident attorneys could help you determine the value of a settlement because of the experience they have in litigating that type of accident. They are able to look at case history to see which may be similar to this one and how they were settled. With that knowledge, they may be able to piece together information and get the maximum value for you. If you want to know more about calculating Maryland truck accident settlements, contact a knowledgeable truck accident lawyer that could help.