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Tractor trailer accidents are on the rise, despite increased legislation over the last decade. According to the National Highway Traffic Safety Administration, fatalities in large truck accidents (those weighing more than 10,000 pounds) increased by 36% from 2010 to 2019. (NHTSA). The number of people killed in truck accidents in New Jersey increased by 50% during the same time period. Truck accidents frequently result in serious injuries, leaving victims with large medical bills, lost income, and long-term disabilities.
Because of the complexity of a truck accident claim and the severity of injuries, many injured victims choose to hire a truck accident lawyer to represent their best interests in the negotiation process with insurance companies and at-fault parties. Despite the fact that many truck accident claims are settled out of court, truck accident cases are more likely to go to trial due to the high stakes involved.
In some cases, the at-fault party may be identified, but the plaintiff's losses or damages may be challenged by the insurance company. In a truck accident case in New Jersey, a settlement can take a long time to reach, and a trial can take even longer. Accepting a settlement or going to trial both have benefits and drawbacks.
What Is the Distinction Between a Settlement and a Trial Verdict?
Settlement agreements are reached through alternative dispute resolution methods such as mediation, negotiation, and arbitration.
The injured victim receives the agreed-upon settlement amount after the various parties reach an agreement on compensation. It is possible and in your best interests to hire a personal injury attorney who specializes in truck accidents to represent you in settlement negotiations.
A jury will decide whether the defendant is at fault and how much compensatory damages should be awarded in a truck accident case that is litigated in a civil court. A trial verdict may include punitive damages, which are intended to punish the defendant in cases of egregious negligence.
The Benefits of Reaching an Agreement
The most significant advantage of agreeing to a settlement is that you will receive payment sooner than if you went to trial. Having said that, you should never accept an insurance company's first offer. A fair settlement will take time, and you will need the help of a truck accident attorney. Some injured people are terrified of going to court. The proceedings are less intimidating because they take place outside of the courtroom. Truck accidents frequently involve multiple parties. That is to say, the accident could be caused by more than one person or entity. In these complex situations, settlement discussions may not result in a fair agreement, necessitating extensive litigation.
A Settlement's Consequences
Despite the fact that avoiding a lengthy court case may seem appealing, taking your case to a jury trial may result in higher compensation awards. Accepting a settlement offer also gives up all rights to pursue any other legal claims against the defendant(s) related to the accident. If you have additional medical bills or discover the extent of your injury is greater than you anticipated, you will not be able to file a claim for additional compensation or take the case to trial later. The defendants' admission of fault or the public disclosure of the settlement are important to some injured victims. Remember that when you accept a settlement offer, it is usually kept private and the at-fault parties do not admit fault.
Understand Your Options and Recognize Your Alternatives
A truck accident attorney can assist you in comprehending the potential liable parties and evidence in your case. They can tell you whether a trial is likely, what settlement options are available, and how long your case will take to work its way through the legal system. Patience and perseverance are required when settling a New Jersey truck accident case. That doesn't mean you shouldn't pursue the justice you deserve and compensation for the losses you've sustained.
Recognize Your Alternatives and Understand Your Options
A truck accident lawyer can help you understand the potential liable parties as well as the evidence in your case. They can tell you if a trial is likely, what settlement options are available, and how long it will take for your case to move through the legal system. When it comes to settling a New Jersey truck accident case, patience and perseverance are required. That isn't to say you shouldn't fight for the justice you deserve and compensation for your losses.