Is that Good or Bad News for Victims?
We share the road with big rigs. And the vast majority of the time, nothing bad happens. The commercial truckers drive their routes and everyone arrives safely. But when something does go wrong due to negligence on the trucking company’s part (or the driver, or one of the third parties that might be liable), things tend to go really wrong.
Here in the Dallas, Texas area, we have a lot of traffic and a lot of trucks on the road. Settlement creep is finding a foothold after wrecks with these big rigs, so let’s see what the Car Crash Captain has to say on the matter.
What Is Settlement Creep?
Settlement creep is the steady increase in settlement amounts and jury verdicts awarded to victims of truck wrecks. They’re sometimes called nuclear verdicts, where the final amount awarded to the victim is vastly more than the average, and way more than most people expect. This can be a great thing for victims, but these cases have to be handled very carefully by an experienced truck crash lawyer in Texas.
There isn’t really one specific reason these settlements are on the rise. Rather, it’s a combination of numerous factors:
Jurors Understand – Commercial trucks are way heavier than passenger vehicles. They do a lot of damage, and jurors are now seeing (through better NHTSA data) just how deadly a wreck can be.
Better Evidence – Electronic logging devices, GPS tracking, dashcam footage, black box data, and similar technologies are providing more evidence than ever on what happened before, during, and after the wreck.
Big Policies – Trucking companies carry massive insurance policies – usually to the tune of a million dollars or more. If a jury could award a $10 million verdict, suddenly a $2 million settlement seems very reasonable.
The Upside for Truck Wreck Victims
Settlement creep can benefit victims in a number of ways; not just with a bigger settlement.
Insurers aren’t getting away with as much as they once did. In the past it was easier to ignore those hidden injuries like spinal cord damage, traumatic brain injury, disabilities, and things like lost earning capacity. Today, though, technology shows some of these injuries, and previous cases show what is expected.
Earlier settlements can happen too. Nobody wants to go to court, especially not the trucking company when they might be faced with an immense jury verdict. Settling quickly is in everyone’s best interest and means faster financial recovery and less stress waiting for the settlement.
It’s not all on the up and up, though.
The Downside for Truck Wreck Victims
When settlement creep is there, insurance companies are going to fight much harder to protect their money.
Insurance companies can end up acting more aggressively. They have better reconstruction teams, more lawyers, their own medical experts, and more. Their goal is to reduce the settlement value, and they’ll do everything they legally can to do so.
And that means they might get a bit sneaky. They can claim you were speeding, changed lanes unsafely, you were distracted, or you didn’t brake hard enough. If the evidence doesn’t show otherwise, this can cause delays. And delays are what make victims settle for less. They become desperate and accept less than what they deserve simply to get it done and over with.
You Need Herbert Law Group to Maximize Your Settlement
If you are the victim of a wreck like this, the last thing you want to do is fight with insurance companies that are intent on tricking you into admitting fault. That’s why the best thing you can do is have Herbert Law Group help you maximize your settlement.
Our lawyers know just what to say to insurance companies. We have the experience to show that in the past what settlements were reasonable in similar situations. We have the fortitude to go to court and fight for your rights. We won’t back down, and you shouldn’t be pressured either.
Let’s start things off with a free phone call so we can figure out what happened, and make a plan on how we can find you justice. Call our offices at 214-414-3808, or fill out the contact form on our site, and we’ll get things started from our Richardson, Texas offices.