Personal Injury Settlement Amounts Examples in New Mexico

Personal injury settlement amounts depend on the unique circumstances of each case. A victim’s injuries will directly impact the amount of damages awarded. Compensation will also be influenced by the costs of current and future medical treatment. It’s important to understand personal injury settlement amounts and examples in New Mexico.

Why Hire a Personal Injury Lawyer?

An experienced lawyer can provide legal advice if you are dealing with a serious personal injury. Hiring an attorney gives you leverage and legal authority that may impact the outcome of your case. Attorney Rachel Berenson has over 25 years of experience handling personal injury cases.

A personal injury law firm can determine the value of your claim and ensure that you don’t accept an insurance settlement worth less than you deserve. When you hire a personal injury attorney, you are provided with peace of mind knowing your legal matters are being handled by a professional. Berenson & Associates, PC, has spent decades fighting for people across New Mexico.

How Personal Injury Settlements Are Determined in New Mexico

Each year, more than 3 million personal injury claims are filed in the United States. Around 60% of all personal injury cases will settle before going to trial. According to data from the Insurance Information Institute, the average amount of a claim filed for a personal injury was $28,278 in 2024.

Settlements are intended to provide compensation that is proportionate to the financial losses the injured individual incurred. A settlement can come directly from the at-fault party or from the at-fault party’s insurance company.

There are specific factors that influence a settlement amount. These include medical bills, out-of-pocket expenses, lost wages, pain and suffering, and punitive damages. A settlement can consider potential future costs if an individual’s injuries lead to a disability that requires long-term medical care.

Your personal injury lawyer will calculate what a fair settlement should be. They will typically consider these factors:

• How severe your injuries are. Serious injuries such as disfigurement, loss of mobility, traumatic brain injury, and amputations can increase the settlement amount your attorney will pursue.
• Auto policy limits. In auto accidents, settlement amounts may be limited by the amount of coverage the at-fault driver has, especially if they carry minimum coverage. Your attorney may decide to take action directly against the at-fault driver. If the at-fault driver was uninsured, your attorney may decide to negotiate with your insurance carrier if you have uninsured motorist insurance on your policy.
• Pain and suffering. Personal injury law acknowledges that an individual’s emotional harm can also be a source of injury. An experienced personal injury attorney will understand how to calculate an appropriate number for pain and suffering.

Calculating a Settlement

Factors that will impact a settlement amount include the medical and recovery costs, the severity of your injuries, and liability clarity. It is important to keep in mind that insurance caps can limit settlement amounts in some cases. To determine a reasonable settlement amount, you should tally economic and non-economic damages:

• Medical expenses (all costs related to your injury)
• Property damage (amount of damage caused through negligence)
• Lost earnings (amount lost due to inability to work)
• Amount of lost future earnings (future amount lost)
• Cost of future medical expenses (estimated cost of ongoing care)
• Pain and suffering (calculated by a multiplier of 1.5 to 5)

Common Personal Injury Case Types

• Car Accident Injury Settlements: In 2024, the average personal injury settlement for an individual involved in a car accident was $28,278. Serious crashes will typically result in higher settlements. Insurance policy caps impact the amount an injured individual can receive.
• Slip and Fall Settlements: Slip and fall settlements are influenced by the severity of the injuries, the extent of negligence that caused the accident, and the anticipated costs of long-term medical care.
• Medical Malpractice Settlements: Medical malpractice claims typically result in high settlement amounts. Individuals injured due to medical negligence often suffer severe economic and lifelong damages, which increase settlement amounts.
• Workplace Injury Settlements: Workplace injuries are addressed through the workers’ compensation system rather than through a traditional legal claim. Workers’ compensation does not consider pain and suffering in settlement amounts. Therefore, these claims tend to be lower than other personal injury claims.

FAQs About Personal Injury Settlement Amounts Examples

How Much Is the Average Personal Injury Settlement?

The amount of a personal injury settlement will be influenced by the amount of medical expenses, the severity of the injuries, the amount of lost wages and future earnings, and pain and suffering. Every personal injury case is unique, and settlements will vary. If there is clear liability and strong evidence, a settlement may be higher.

What Is a Typical Amount of Pain and Suffering Settlement in New Mexico?

Pain and suffering settlements in New Mexico are impacted by multiple factors. Compensation for pain and suffering is considered non-economic or subjective. There are no rules or formulas for determining compensation for pain and suffering.

Factors that impact the amount of pain and suffering damages awarded can include emotional stress and suffering, physical pain, depression, anxiety, mental and psychological anguish, post-traumatic stress disorder, loss of independence and enjoyment of life, and permanent disfigurement or disability.

What Is a Reasonable Settlement Amount?

A reasonable settlement amount will typically compensate the victim for their medical expenses, pain and suffering, and lost income. A reasonable settlement will cover the costs of current and future injury-related expenses. A settlement that does not cover medical expenses, does not consider future treatment needs, or does not compensate for permanent disabilities may be unreasonable.

How Long Do I Have to File a Personal Injury Case in New Mexico?

You will typically have three years from the date of the injury to file a personal injury case in New Mexico. This time limit is called the statute of limitations. After the statute of limitations expires, you may lose your right to file a legal claim. To file a claim in New Mexico, you must file a civil complaint in the appropriate court. It is prudent to secure legal representation to pursue a claim.

Contact a New Mexico Personal Injury Attorney

If you have been the victim of nursing home abuse or injured in an accident, Berenson & Associates, PC, can help. We can provide attention, guidance, and the experienced injury representation you need and deserve. Contact us today to learn how we can help you pursue maximum compensation.