Farmers Truck Insurance Exchange is an insurer under the Farmers Insurance Group of Companies, which has been a successful insurance company for more than eighty years (since 1928). Farmers Truck Insurance Exchange, although it functions as an insurance company, it is not a traditional insurance company. Instead, Farmers Truck Insurance Exchange is owned by the many policyholders.
Because Farmers Truck Insurance Exchange is not a traditional insurance company, many people hesitate to file claims in fear of new and complicated processes. However, as previously mentioned, Farmers Truck Insurance Exchange functions like any other insurance company; therefore, you could file a claim without having to worry about any major differences.
Are you considering filing a claim against Farmers Truck Insurance Exchange? Were you recently involved in a truck accident? Was the truck involved in your accident covered by Farmers Truck Insurance Exchange? If so, you might have grounds to file a Farmers Truck Insurance Exchange truck accident claim.
If you have considered the possibility of filing a Farmers Truck Insurance Exchange truck accident lawsuit, you might have some of the following questions:
- What is the average settlement of a truck accident claim with Farmers Truck Insurance Exchange?
- How much can you receive from Farmers truck Insurance Exchange in case of a truck accident?
- How much is a truck accident case with Farmers Truck Insurance Exchange worth?
- What is the payout that victims of truck accidents could receive for their truck accident claims?
- What details of your truck accident claim affect the average settlement value of a Farmers Truck Insurance Exchange truck accident lawsuit?
If you are in need of answers to any of the questions above, you could benefit from speaking with our experienced attorneys. At Normandie Law Firm, our truck accident attorneys understand the devastating effects of truck accidents. Because of that, our lawyers are dedicated to helping all victims of truck accidents fight for their right to be compensated. If you would like to discuss your truck accident claim with our attorneys and learn more about how much the truck accident case with Farmers Truck Insurance Exchange could be worth, you must contact our law firm as soon as possible.
Why is the Value of Your Claim So Important?
Consider the five questions listed above; they all seek information regarding the potential value of a truck accident claim. Why are you, like many other victims of truck accidents, so concerned about the average settlement amounts for truck accident lawsuit against Farmers Truck Insurance Exchange? Truck accidents often result in extensive property damage and injuries ranging in severity. The majority of victims and their family members encounter mountains of bills immediately after the truck accidents. Because most injuries can prevent victims from working temporarily or permanently, many of these newly acquired bills, as well as regular bills, could go unpaid. Truck accidents often force victims and their family members to resort to their savings, max out credit cards, and sometimes even declare bankruptcy. Without a doubt, the financial effects of a truck accident on you and your family could be overwhelming. Because of that, many parties affected seek legal assistance with the hope of receiving monetary compensation for the harm that they suffered. Our attorneys understand your plight; therefore, they are prepared to handle your truck accident claim and aggressively fight for your right to be compensated.
The Categories of Compensation Available for Claimants
What is the average compensation available for your truck accident claim? Every truck accident claim is different. There is no way of knowing what type or amount of compensation you could receive for your truck accident claim until after you speak with an experienced attorney. Some claimants are eligible to recover the following categories of compensation for their truck accident claims:
- Medical expenses (past and future)
- Lost wages (past and future)
- Property damage
- Pain and suffering
- Loss of consortium
- Funeral expenses
- Burial expenses
- Punitive damage
Regardless of the type and amount of compensation that you could receive for your truck accident claim against Farmers Truck Insurance Exchange, you could be certain that our attorneys will always fight for your right to receive the maximum amount of compensation available for your claim. If you would like to learn more about the compensation that you could receive for your claim, you must speak with the attorneys at Normandie Law Firm as soon as possible.
The Value of Your Claim
What is the average value of a truck accident case against Farmers Truck Insurance Exchange? Because every truck accident claim is so different, there is no universal value that can be used for every truck accident claim. There are many factors that could affect the value of a claim. Before discussing the different factors of your truck accident claim that could affect your claim’s worth, consider the sample verdicts and settlements listed below:
- $41,000—the victim, a bus driver, was rear-ended by a truck. The collision caused the victim to lose control of the bus she was driving. The truck accident left the victim with a lower back injury.
- $352,000—the victim’s vehicle was rear-ended by a truck. The collision pushed the victim’s car forward and caused the truck to flip over. The truck accident left the victim suffering brain injuries (that led to cognitive loss), shoulder injuries, and post-traumatic stress disorder.
- $430,000—a head-on truck accident resulted in the victim’s severe shoulder, hand, and wrist injuries
- $650,000—a truck accident left the victim with severe leg and hip dislocations and a hip fracture.
- $820,000—a head-on collision with a truck resulted in the victim’s severe hip and arm injuries.
Based on the sample verdicts and settlements above, anyone could assume that the value of a truck accident claim is determined only by the injuries that the victims sustain. Although the injuries that you suffer during your truck accident are relevant to the value of your claim, many other factors are also important.
So, why are the injuries sustained relevant to establishing the value of your claim? All injuries, regardless of their severity, are associated with certain values. For example, you can receive $25,000 for mild injuries, but you could receive $75,000 for moderate injuries. You could receive those amounts, but you could receive less. When victims suffer several mild and moderate injuries, the value of their claims could increase to hundreds of thousands of dollars. How much are more severe injuries worth? Spinal cord injuries could be worth up to $150,000; if the spinal cord injury is critical and leads to paralysis it can be worth from $600,000 to $700,000, and sometimes even millions. Similarly, traumatic brain injuries could be worth up to $250,000 if they are mild to moderate; if the brain injury leads to loss of cognitive abilities or requires living-assistance, the injury could be worth millions.
In addition to the injuries sustained, the income lost as a result of the accident can also affect the value of the claim. For example, if you were unable to work for three months because of your injuries resulting in a loss of income of 12,000, you could be compensated for the income that you lost. If you are permanently unable to work and earn income, you could also be compensated. The value of your lost income will likely be determined by the following factors: your age, your wage history, and the length of time you would have worked if you hadn’t been injured, for example.
A vital factor that is often misunderstood or ignored is a policy limit. A policy limit is a maximum coverage available for the accident; in other words, a policy limit establishes the maximum amount of compensation that a claimant could recover. Trucks are federally required to carry insurance coverage ranging from $300,000 to $5,000,000 depending on the type of truck. Because of these insurance requirements, policy limits are often within or above the amounts above. For example, if you were involved in a truck accident with a truck that carried a $500,000 policy, you could only recover up to that amount for your claim. If your claim is valued any amount within the policy limit, you would be eligible to recover the full value of your claim. But, if your claim was valued any amount over the limit, you could not recover the excess amount from the Farmers Truck Insurance Exchange policy. Many victims who encounter policy limits that do not cover all damages must turn to other options—such as their own underinsured policy.
In addition to the multiple factors discussed above, many other factors could affect the value of your truck accident claim. If you would like to learn more about the additional factors that could affect the truck accident settlement amounts for a truck accident claim with Farmers Truck Insurance Exchange, you must contact our law firm as soon as possible.
Normandie Law Firm
You might have assumed that your injury claim could be worth a few thousand dollars, but it could be worth a lot more than you originally estimated. Would you like to learn more about the value of your truck accident claim? If so, you must contact our law firm as soon as possible. Our law firm is based on a foundation of accessibility; therefore, we offer free consultations and free second opinions to all parties affected by truck accidents. During our free consultations and free second opinions, the experienced truck accident attorneys at Normandie Law Firm will answer your questions, address your concerns, and provide you with all the information you need to pursue your truck accident claim against Farmers Truck Insurance Exchange. Was your claim affected by an incompetent attorney? Our free second opinions will ensure that your claim is redirected towards the path to a successful outcome. Whether you are in need of a free consultation or free second opinion, you must contact Normandie Law Firm as soon as possible.
Our Zero-Fee guarantee ensures that our clients never have to worry about paying any upfront legal fees for any of our legal services. Our firm is also based on contingency; therefore, our clients will not be required to pay any legal fees until after our attorneys win their claims. If you do not win, you will not be required to pay. If you are ready to discuss your truck accident claim with our attorneys, stop hesitating and contact our experienced truck accident law firm immediately.
