Accidents involving commercial trucks often result in severe injuries for those involved. Victims in these situations should be able to recover compensation to pay for their various losses. However, securing this compensation can be challenging, particularly when dealing with aggressive insurance carriers and well-funded trucking companies. At Solomon, Sherman & Gabay, our Philadelphia truck accident attorneys want to discuss the various types of compensation that may be available to victims in these situations.
Economic compensation is also referred to as special damages in the aftermath of an injury claim. The types of compensation in this category are typically relatively easy to calculate because injury victims and their attorneys can gather up bills, receipts, pay stubs, tax returns, and other actual proof of losses. Some of the most common types of economic compensation available in the aftermath of a Philadelphia truck accident include the following:
Non-economic compensation is also referred to as general damages in the aftermath of an injury. These types of compensation are designed to pay victims for the more immeasurable losses they sustain in the aftermath of a serious injury. Some of the most common types of damages that non-economic compensation is awarded for includes the following:
As you can imagine, non-economic compensation is more difficult to calculate than economic compensation. There are usually no bills or receipts attached to these types of losses because they are relatively unseen. However, that does not make these damages any less real for the injury victim.
When working to properly calculate a truck accident victim’s total losses, an attorney will use various methods. First, calculating economic compensation will be done by gathering up all of the bills, receipts, pay stubs, and other physical proof that the losses actually occurred. These will be added up and totaled.
Calculating non-economic compensation will be more challenging, and this will usually be done by using a multiplier method. In these cases, an attorney will take the total for economic damages and multiply that by a set number (usually a number ranging from 1.5 to 5).
For example, if a truck accident victim sustained $500,000 worth of economic damages, an attorney could use a multiplier of “three” and reach a total of $1,500,000 for non-economic damages. In total, the attorney would ask for $2,000,000 in total compensation on behalf of their client.
If you or a loved one have been injured in a vehicle accident caused by the careless or negligent actions of a truck driver or trucking company, reach out to the team at Solomon, Sherman & Gabay for help immediately. We have the resources necessary to fully investigate your accident and help you recover all of the types of compensation we mentioned above. We know that you need this money, and we are ready to get to work on your behalf. When you need a Philadelphia truck accident attorney, you can contact us for a free consultation of your case by clicking here or calling 215-665-1100.