What Is the Average Hit By a Company Vehicle Settlement Amount?

Accidents involving company vehicles introduce elements into the insurance claims process that can make them more complex than the process for dealing with a crash involving two standard passenger vehicles. These collisions raise potentially difficult questions regarding insurance coverage and liability. These issues can significantly affect the total settlement amount an injured person can recover. The average hit by a company vehicle settlement in St. Louis, Missouri, is usually in the tens of thousands of dollars. However, every accident is unique, and numerous factors can influence the amount.

Factors Affecting Settlement Amounts

Determining how much you may be able to recover after being hit by a company vehicle involves accounting for a variety of factors. An experienced St. Louis car accident lawyer will investigate the details of the accident, review all evidence and documentation, and work with outside experts to calculate a sum that would fairly compensate you for your injuries and losses. Here are some of the factors that can influence your settlement amount.

Severity of Injuries

The extent of the injuries you sustained plays a significant role in determining your settlement amount. More severe injuries like broken bones, spinal cord damage, or traumatic brain injuries usually result in higher compensation. This is due to the increased medical costs and extended recovery periods associated with these injuries. Severe injuries can also cause long-term or permanent disabilities, which will add to your expenses. The nature of the injury will influence both economic and non-economic damages, such as pain and suffering, which can substantially raise the overall settlement value.

Liability

Liability in accidents involving company vehicles can extend beyond just the driver. Several parties may be partially responsible, which can impact the settlement amount. The driver may be liable if they were negligent or violated traffic laws. However, the company that owns the vehicle could also be liable under the legal principle of vicarious liability. This means they are responsible for their employees’ actions during work-related tasks. In some cases, third parties, like vehicle manufacturers or maintenance providers, may also share liability if a mechanical issue contributed to the accident. An attorney will identify all liable parties to ensure they pursue maximum accountability.

Economic Losses

Economic losses include quantifiable losses such as medical bills, lost wages, property damage, and future earning potential. Your attorney will calculate these losses based on your actual expenses and projected costs, which will significantly influence the overall settlement amount. In accidents involving company vehicles, higher economic losses, such as extended hospital stays, rehabilitation, and inability to work, often lead to more substantial settlements due to the direct financial impact on the victim’s life.

Non-Economic Losses

Non-economic damages cover losses that are harder to quantify. These include pain and suffering, emotional anguish, and loss of enjoyment of life. The severity and lasting impact of the injuries influence the calculation of compensation for these losses. Since these losses don’t have a clear monetary value, settlements can vary widely. If you experience long-term pain, psychological trauma, or a reduced quality of life after someone hits you with a company vehicle, the settlement may increase significantly.

Insurance Policy Limits

Insurance policy limits define the maximum amount the insurance company will pay in a settlement. If the company whose employee hit you has a higher policy limit, you may receive more compensation. However, if the policy limit is low, you may need help recovering sufficient funds for your losses. In such cases, legal strategies may involve pursuing compensation directly from the company or exploring underinsured motorist coverage.

Comparative Negligence

Under Missouri’s comparative negligence law, an injured party’s role in causing an accident can reduce their settlement amount. This means that if you’re found partially at fault, your compensation will be lowered by your percentage of fault. For instance, if you were 20 percent responsible for the crash, you would receive 80 percent of the total settlement. Insurers often try to shift blame to avoid paying higher settlements. Having strong legal representation can help prevent you from falling victim to these tactics.

Typical Settlement Ranges

The average settlement amount for being hit by a company vehicle can vary widely based on the abovementioned factors. While every case is unique, here’s a general look at some of the settlement ranges based on injury severity:

• Minor Injuries – For minor injuries with minimal medical expenses and little significant impact on a victim’s daily life, settlements typically range from a few thousand to $10,000. If an injury required only basic medical treatment and the victim did not miss much work, their settlement would likely fall within this range.
• Moderate Injuries – If the injuries required more extensive medical treatment or resulted in a temporary disability, a settlement might range from several thousand to tens of thousands of dollars. This range covers cases involving higher medical expenses and a moderate impact on a victim’s ability to work.
• Severe Injuries – If a person suffers severe injuries, long-term disability, or significant pain and suffering after being hit by someone driving a company vehicle, their settlement can reach hundreds of thousands of dollars. These cases typically involve major medical expenses, substantial lost wages, loss of the ability to work and earn income, and significant pain and suffering.

How to Maximize Your Settlement

You can take steps to improve your likelihood of recovering maximum compensation in your hit by a company vehicle accident claim. Some things you can do include:

• Gather Evidence – Gather evidence pertaining to the accident, such as police reports, witness statements, and photographs of the scene. This evidence can bolster your claim and illustrate the severity of the crash.
• Document Everything – Keep detailed records of your medical treatment, expenses, and lost wages. Documenting your injuries and their impact on your life is crucial for building a strong case.
• Consult a Lawyer – Work with a St. Louis car accident lawyer who will manage the legal process and negotiate with insurance companies to reach a fair settlement.
• Be Patient – Settling a claim can take time, especially if they involve multiple rounds of negotiations. Be patient and allow your lawyer to handle the details of your claim and the negotiation process.

Contact a St. Louis Car Accident Lawyer Today

If you need help pursuing compensation after a driver hits you in their company vehicle, a St. Louis car accident lawyer at Goldblatt + Singer is prepared to fight for your rights. Our firm will guide you through the legal process, negotiate with insurers, and demand the fair compensation you deserve. For more information on how we can assist you, call us today at (314) 231-4100 or contact us online to get started with a free consultation from our team of experienced attorneys. We have extensive experience handling truck accident cases and are here to help you through this challenging time.