Average Truck Accident Settlement in Oklahoma [2024 Updated]

Getting involved in a truck accident can be a terrifying ordeal. You may suffer catastrophic injuries and have a totaled vehicle, or you may walk away with minimal injury. Regardless, you can fight for compensation for the physical and/or mental anguish you have experienced as a result of a truck accident. Learning about the average truck accident settlement in Oklahoma can help you make an informed decision, as can consulting with an experienced lawyer.

What Is the Average Truck Accident Settlement?

Regrettably, there is no average settlement amount for truck accident victims in Oklahoma. The damage caused by truck accidents is so varied that there is no set average number for a settlement. A typical truck accident claim is calculated by combining the total worth of economic damages with the presumed worth of non-economic damages.

Economic Damages

Economic damages are considered any physical loss of income you may have incurred due to the accident. They can include medical bills, lost wages, sudden expenses, property repairs, medication, rideshare receipts, and anything else that you have paid for as a result of your accident.

Non-Economic Damages

Non-economic damages are also known as “pain and suffering.” They are effectively a monetary value that is put on the mental and emotional pain that you have suffered as a result of your accident. They can include mental anguish, emotional distress, loss of society, loss of consortium, physical disfigurement, and the overall mental impact of your injuries or the accident itself.

Insurance Companies

Generally speaking, most insurance companies you will be dealing with throughout this experience will offer a settlement upfront to avoid the expense and publicity of a trial. You and your lawyer can either accept that settlement offer or demand a higher one.

If the insurance company believes you are likely to win your case if it goes to trial, they may offer you a higher settlement, knowing that they will likely lose. The insurance companies consider a number of factors before deciding on a settlement offer:

• Your Injuries: Truck accidents tend to be highly destructive, and few people walk away from them with minimal injuries. The insurance company will likely factor in your total medical bills as the bulk of your settlement offer, especially if your injuries are severe. They may hope you would be happy just to be able to pay for your medical care, and they could be right. It is entirely up to you.
• Your Fault: The insurance company’s investigation will determine who is at fault for the accident. They will absolutely look into whether or not it was your fault. The amount of compensation you will be able to receive will be impacted by how much you were at fault for the accident. If you are found to be 50% at fault, you can only recover 50% of the damages. If they find fault, they will reduce their settlement offer to reflect it.
• Other Losses: Your medical bills and the cost to repair your vehicle are not the only economic losses you are likely to suffer as a result of the accident. The insurance company has to take into account lost wages as a result of missing work or even a change in career if the injury was serious enough to change your life.
• Your Lawyer: The insurance company will only make you a serious offer if they believe that they will most likely lose the case if it goes to trial. Your lawyer’s tenacity, reputation, and experience will come into play when deciding on what to offer you. This is why you should hire an experienced truck accident lawyer who is not afraid to take an insurance company to court.

FAQs

Q: How Much Are Most Truck Accident Settlements?

A: Truck accident settlements in Oklahoma are going to widely vary depending on the unique circumstances of the accident. Every case is different, and every case has specific factors that must be considered. You could receive more and you could receive less, depending on your lawyer’s experience, the severity of your injuries, the strength of your claim, and the willingness of the insurance company to compromise.

Q: What Is the Average Settlement for a Car Accident in Oklahoma?

A: The average settlement for a car accident in Oklahoma is going to depend on the injuries incurred, who was at-fault, and the skill and effectiveness of your car accident attorney. Every accident claim introduces different circumstances that cannot be ignored or left out. Damages are calculated according to the factors involved. Sometimes, there is mental anguish to consider. Other times, there is only property damage. In the worst accidents, there may be a wrongful death claim.

Q: How Much Money Should I Ask for in a Settlement?

A: You should always ask for more than you think you are going to get. You can’t begin negotiating until you know what you want. Take into account your own pain and suffering, your medical bills, your chances of winning if it goes to trial, and other factors specific to your own case to reach a number you believe is fair. It is wise to engage the help of an experienced truck accident attorney to advise you and guide you throughout your claim.

Q: What Is the Longest a Settlement Can Take?

A: Most truck accident settlements take anywhere from a few weeks to a few months to settle. If the case is more complex, it may take longer than that, sometimes years. As long as you file within the statute of limitations, which is two years in Oklahoma, your settlement will eventually happen. If you wait longer than two years, you will most likely not be able to make a claim as the statute of limitations has expired.

Consult with a Truck Accident Lawyer Today

There is no clear way to state what your settlement will be when you file an insurance claim after a truck accident. Every case has its own specific factors. 222 Injury Lawyers can help you figure out how to build your case, when to accept a settlement number, and how to proceed if your case goes to trial. Contact us to schedule a consultation as soon as you can.