Minnetonka, a city in Hennepin County, Minnesota, is a common location for truck accidents due to its proximity to major highways. Truck accidents in Minnetonka can result in severe injuries, property damage, and emotional distress.
If you or a loved one has been involved in a truck accident, understanding how compensation is calculated can help you navigate the claims process. A Minnetonka truck accident attorney will play a crucial role in maximizing your settlement.
Factors That Determine Compensation After a Truck Accident in Minnesota
Truck accidents are a serious concern in the U.S. According to the National Safety Council (NSC), large trucks were involved in 6% of all fatal crashes in 2022 despite making up a small percentage of vehicles on the road.
Several key factors influence the amount of compensation a victim can receive.
Severity of Injuries
The extent of your injuries plays a major role in determining compensation. More severe injuries require longer recovery times and extensive medical treatment and may lead to permanent disabilities, all of which increase the claim amount.
Lost Wages and Future Earnings
If the accident prevents you from working, you can claim lost wages. For long-term injuries that impact your ability to earn income, future lost earnings can also be considered in the settlement calculation.
Comparative Fault
Minnesota follows a comparative fault rule, meaning compensation can be reduced if you are partially responsible for the accident.
For example, if you are found 20% at fault, your total compensation will be reduced by 20%.
It is important to note that if your percentage of fault was more than 50%, then you’ll be barred from seeking compensation.
Insurance Coverage
Trucking companies and drivers are required to carry liability insurance. The insurance coverage available plays a significant role in determining the maximum settlement amount.
Medical Expenses
All medical costs related to the accident, including hospital visits, surgeries, therapy, and medications, are factored into the compensation. Future medical expenses may also be included if ongoing treatment is necessary.
Economic vs. Non-Economic Compensation
Compensation in truck accident claims is divided into economic and non-economic damages.
Economic damages include measurable financial losses like medical bills, lost wages, and property damage.
Non-economic damages cover pain and suffering, emotional distress, and loss of quality of life.
While economic compensation is easier to calculate, non-economic damages vary based on the severity of injuries and their long-term impact.
Two common methods used to calculate non-economic damages are:
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Multiplier Method: This involves multiplying the total economic damages by a number (typically between 1.5 and 5) based on the severity of injuries.
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Per Diem Method: A daily rate is assigned to the victim’s pain and suffering, multiplied by the number of days they experience pain due to the accident.
Bottom Line
Calculating compensation after a truck accident involves multiple factors, including medical expenses, lost wages, and the severity of injuries. A truck accident attorney can help ensure you receive fair compensation and help you through the complexities of the legal process.
If you or a loved one has been injured, seeking legal assistance can significantly improve your chances of a successful claim.
