National American Insurance Company (NAICO) is a regional insurance company that has provided reliable insurance coverage since 1987. NAICO is licensed to provide insurance in 49 U.S. states, including the nation’s capital. National American Ins Co is proudly rated excellent by AM Best. Some of the insurance company’s core values include integrity and efficiency, which are reflected in NAICO’s success over the years. NAICO started as a specialty truck insurance company, which later expanded to offer additional services. However, the insurance company has never strayed away from their initial mission of providing exceptional insurance coverage for trucks.
National American Insurance Company continues to be one of the major truck insurance providers in the nation. If you were recently involved in a truck accident, you likely learned about the possibility of filing a claim against National American insurance company. Although filing a National American Ins Co truck accident claim might not be your first concern after experiencing such a traumatic event, you must eventually consider the possibility. Filing a National American Ins Co truck accident lawsuit could make you eligible to receive a payout for the harm you suffered.
If you have thought about filing a lawsuit after your truck accident, you might have asked yourself some of the following questions:
- What is the average compensation available for recovery after a truck accident?
- How much can you receive from National American Ins Co in case of a truck accident?
- How much is a truck accident case with National American Insurance Company worth?
- How is the average settlement of a truck accident claim with National American Ins Co affect the potential value of a claim?
For many victims of truck accidents, the average value of a truck accident case against National American Insurance Company is essential to making the decision to sue. Why would the potential value of a claim be so important? The majority of victims of truck accidents suddenly find themselves surrounded by bills and buried in debt after being involved in the accidents. Because of that, the compensation available after filing a lawsuit gives them hope that they could return to their normal lives as soon as possible.
If you are interested in filing a lawsuit, you must contact our law firm at your earliest convenience. Normandie Law Firm is a personal injury law firm dedicated to fighting for the rights of those affected by accidents. If you were injured in a truck accident or if a member of your family lost his or her life in a traumatic truck accident, you might have grounds to file a lawsuit and receive compensation. Our experienced attorneys could help you gain a better understanding of the average settlement amounts for truck accident lawsuit against National American Ins Co.
Past Settlements and Verdicts
As briefly mentioned above, many parties who have been affected by truck accidents are concerned about the potential value of their truck accident claims. Because of that, many of the parties who contact our law firm are interested in reviewing the past verdicts and settlements for successful truck accident claims. Below, you will find a few examples of past settlements and verdicts:
- $184,000—the victim sustained herniated discs in the lumbar spine.
- $600,000—the victim suffered leg injuries, arm injuries, fractures to his clavicle, and a series of other injuries which also included a degloving injury.
- $743,000—the victim suffered severe back injuries, which include herniated discs and torn vertebrae, after being launched into the windshield after being rear-ended by a truck.
- $1 million—the victim suffered fatal injuries after being struck by a truck while she was walking with her infant son.
- $1.03 million—the victims suffered eye injuries, fractures, and a series of other injuries after being involved in a truck accident.
- $1.05 million—the victim suffered severe breaks to her leg, which required complicated surgeries to treat.
- $2.8 million—the victim suffered fatal injuries after being struck and dragged many feet by a truck.
As you can see, the values associated with the past truck accident cases listed above vary significantly from case to case. Why do the settlements and verdicts above vary so much? What are the factors that affect the value of a claim? Based on the list above, one might reason that only the injuries sustained during the accident affect the potential value of a truck accident claim. However, there are many other factors that could affect the average settlement value of a National American Ins Co truck accident lawsuit.
The Factors that Affect Your Claim’s Value
There are many factors that could affect the truck accident settlement amounts for a truck accident claim with National American Insurance Company. Some of the factors are discussed below:
- Injuries—without a doubt, the injuries sustained during a truck accident are an influential factor in determining the value of a claim. Every type of injury is associated with a specific value. For example, you can receive $25,000 for minor injuries. Injuries that require little to no medical treatment are considered to be minor. Moderate injuries, injuries that require some sort of surgical treatment, could be worth up to $75,000. As you can see, the value associated with the injuries sustained increases as the severity of the injury increases. This can be seen with traumatic brain injuries; mild brain injuries are often valued near $85,000, but it could be worth millions if the injury resulted in devastating effects such as cognitive loss. Spinal cord injuries, likewise, can be worth anywhere from $75,000 to $100,000. If the spinal cord injury is so severe that the victim suffers any type of paralysis, the injury could be worth millions as well. In most truck accidents, victims suffer a combination of injuries; the value of the injuries is totaled to determine how the value of the claim is impacted considering all injuries.
- Policy limits—the value of a claim is also affected by the truck’s insurance policy. Trucks are required to carry minimum insurance coverage ranging from $300,000 to $5 million, depending on the type of truck and its risk level. Many trucks carry insurance coverage that surpasses the minimum requirements established by the federal government. Therefore, policy limits—or the maximum amount available for recovery—is often six-figures or higher. How do policy limits affect the value of your claim? If you were involved in a truck accident with a truck that carried a $900,000 insurance policy, that amount is the maximum amount that you could receive from the insurance company. If your claim is valued anywhere under that hypothetical amount of $900,000, you could receive the full value of your claim. However, if your claim is valued anywhere higher than the policy limit, the value of your claim might have to be decreased to keep it within the policy limit. Your claim could be worth $1.5 million, but you could receive $900,000 if that is the policy limit that applies to the truck’s insurance coverage.
- Comparative negligence—another important factor to the value of your claim is whether the victim is found to be comparatively negligent. In many cases, the accident is completely caused by the negligence of one party—the defendant. In other cases, both parties share fault in the accident. If both parties had some liability in the accident, the victim could be found comparatively negligent. For example, if the defendant is found to be only 80% negligent and the victim 20% negligent, the victim would only be eligible to recover 80% (or whatever specific percentage applies) of the settlement or verdict reached. In other words, the value of the claim is not reduced, but the victim becomes ineligible to recover compensation equivalent to his or her negligence.
In addition to the three factors discussed above, other factors could affect the value of your case. When you contact an experienced law firm and your claim is evaluated by a knowledgeable attorney, you can expect every detail of your claim to be thoroughly analyzed. The details of your truck accident claim, the determining factors, will be used to establish the approximate value of your claim. For more information regarding the different factors that could affect the value of your truck accident claim against National American Insurance Company, you must contact the experienced attorneys at Normandie Law Firm as soon as possible.
The Categories of Compensation Available for Recovery
The categories of compensation that plaintiffs are eligible to recover also depend on the factors described above. Although each claim is different, you might be eligible to collect compensation from some of the following categories:
- Medical expenses
- Lost income
- Pain and suffering
- Property damage
- Loss of consortium
- Funeral costs
- Burial costs
- Punitive damages
No matter the details of your claim, you can be certain that the experienced attorneys at Normandie Law Firm are dedicated to fighting for your rights to receive the highest amount of compensation available for your claim. Do not settle for less—contact our attorneys to ensure that you have someone aggressively fighting for your right to be compensated.
Normandie Law Firm
If you were injured in a truck accident, you must seek legal assistance as soon as possible. You might be wondering how much the truck accident case with National American Ins Co could be worth. If so, you must contact our law firm as soon as possible to speak with our skilled truck accident attorneys. Our experienced attorneys will provide you with all the information you need to file your lawsuit against National American Insurance Company and reach a successful claim outcome. To remain accessible to all parties affected by truck accidents, our law firm provides free consultations and free second opinions. During these free consultations and free second opinions, our skillful lawyers will be available to answer all your questions, address all your concerns, and provide you with all the information necessary to file a truck accident lawsuit. Even if you and your claim were affected by the incompetence of an attorney with whom you previously spoke, you can trust that our attorneys are here to help you. Contact our law firm as soon as possible to schedule a free consultation or free second opinion.
The free legal services mentioned above are available as part of our Zero-Fee guarantee—a guarantee that ensures that our clients never have to worry about paying any upfront legal fees for any of our services. Our Zero-Fee guarantee allows all injured victims to contact our firm and seek legal assistance regardless of their current financial situation. Our law firm is also strictly based on contingency; therefore, our clients will never be required to pay any legal fees until after our attorneys win their claims. If you do not win, you will not have to pay any legal fees. Do not hesitate—contact Normandie Law Firm today.
