Average Car Accident Settlement in New Mexico [2024 Updated]

Average Car Accident Settlement in New Mexico [2024 Updated]

If you or a loved one has been injured in a car accident that someone else caused, it is natural to wonder about the average car accident settlement in New Mexico. The state enforces the fault rule for vehicle accidents, so the party at fault for causing an accident faces liability for the resulting damages. However, many factors are involved in assessing the potential value of any car accident claim.

Understanding Claimable Damages in a Car Accident Case

When a driver causes a car accident, they absorb liability for the resulting damages. It is possible for more than one party to share liability for an accident, and determining fault will be an essential first step in resolving any motor vehicle accident case in the state. The damages you may be able to claim after a car accident could include:

  • Property losses, such as the cost of repairing or replacing your vehicle.
  • Medical expenses, including the cost of ongoing rehabilitative care you may need for severe injuries.
  • Lost wages, if your injuries prevent you from working after your accident.
  • Pain and suffering compensation, which addresses your experience and the physical pain and psychological distress the accident caused.

In addition to these damages, you may also have the right to seek compensation for projected future lost income if you are unable to work due to a serious injury. Additionally, if the at-fault driver broke the law in causing your accident, they could owe punitive damages and/or restitution. These are just a few examples of all the variables that go into calculating the potential value of any car accident claim.

Partial Fault Will Diminish Any Compensation a Plaintiff Receives

It is also vital for an injured driver to remember that if they are found partially at fault for their accident, it will diminish the compensation they receive for their damages under New Mexico’s pure comparative fault rule. Additionally, if an at-fault driver claims a victim contributed to causing the accident, the at-fault driver’s insurance carrier may contest a claim for coverage from the injured victim.

Pursuing Compensation for Your Damages

Before you can recover any compensation for a car accident, state law requires that you prove fault for the incident. You must identify the party responsible for causing the accident and prove how they caused it before you can claim compensation through their auto insurance policy and/or a personal injury claim. Having an experienced attorney assist you with this will greatly increase your chances of success with the claim.

The average car accident settlement in the state is slightly more than the total economic damages a victim suffers, accounting for the pain and suffering compensation they can foreseeably obtain from an at-fault driver. Ultimately, every car accident case is unique, and every injured victim will need legal counsel they can trust to guide them through the difficult proceedings they may face as they seek accountability and compensation for their losses.

FAQs

Q: How Much Is My Car Accident Claim Worth?

A: The potential value of your car accident claim in New Mexico will depend on multiple variables, such as the severity of your damages and whether you share fault for the accident. The average car accident settlement in the state is difficult to define because so many variables influence each individual case. It’s vital to consult an experienced attorney if you intend to maximize your recovery from any accident.

Q: What Happens if I Share the Fault for a Car Accident?

A: If you share fault for a car accident in the state, your fault will be assessed and expressed as a percentage, and then you will lose a corresponding percentage of your final award as a penalty. For example, under the pure comparative fault rule, a plaintiff found 30% at fault loses 30% of the compensation recovered from the defendant. An experienced attorney can potentially help their client minimize any fault percentage assigned to them.

Q: Do I Need a Lawyer to File an Auto Insurance Claim?

A: You need a lawyer to file an auto insurance claim if you want to make the insurance claim filing process as easy as possible. An insurance company will almost always attempt to push back against a claim, and they are more likely to attempt bad faith tactics if a claimant does not have legal representation. When you have an attorney helping you, you are more likely to receive a fair settlement offer in a timely manner.

Q: Can I File a Personal Injury Claim for a Car Accident?

A: Yes, you can file a personal injury claim for a car accident in the state if insurance will not fully cover your losses. Success with a personal injury claim could enable you to recover compensation for damages that insurance won’t cover, such as your pain and suffering. If an at-fault driver does not have auto insurance, then a personal injury suit will be your main legal mechanism for recovering compensation for your damages.

Q: How Much Will It Cost to Hire a Car Accident Attorney?

A: The cost of hiring a car accident attorney is an understandable concern when you are determining the potential value of your claim. Many personal injury attorneys representing car accident victims in the state offer contingency fee billing to their clients, meaning a client pays a percentage of their final award as their attorney’s fee, but only after they win their case. Make sure you understand your attorney’s billing policy at the outset of your case.

Berenson & Associates can provide the compassionate legal counsel you need in the aftermath of a car accident. While you may have concerns about the average car accident settlement in the state, the reality is that your claim is unique, and you need an experienced attorney to maximize the results of any recovery efforts you attempt. Contact us today to schedule a free consultation with our team and learn how we can help you with your case.

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