In New Mexico, truck accident settlements typically start around $60,000 for minor injuries and can rise past $400,000-plus for catastrophic cases. Settlement values can vary significantly from case to case, with unique determining factors such as injury severity, fault and insurance.
What Types of Damages Are Included in a Truck Accident Settlement in New Mexico?
A truck accident attorney in New Mexico can give you an accurate estimate of the potential value of your claim so that you can take on settlement negotiations with greater confidence. A precise estimate starts with identifying all the losses or damages you suffered because of the truck accident.
Common types of damages include:
- Necessary medical care (current and future)
- Permanent disability or disfigurement
- Pain and suffering
- Lost wages and capacity to earn
- Property damage
- Loss of consortium
- Wrongful death damages (in a fatal accident)
You may also be entitled to punitive damages if the defendant or accused party in your truck accident case is guilty of gross negligence, recklessness or a wanton disregard for the safety of others. A lawyer can help you create a comprehensive list of your losses.
Factors That Can Influence Truck Accident Settlement Values
The variable nature of a personal injury settlement is why it’s always best to have an experienced truck accident lawyer evaluate your specific case to understand its potential value. A variety of complex factors can influence how much a claim ultimately receives, such as:
- Injury severity
- Medical care needed and the length of recovery time
- The age and health of the victim
- The extent of vehicle damage
- Number of defendants
- Insurance coverage available and policy limits
- The victim’s comparative negligence (shared fault)
Comparative negligence can also play a role when a victim’s actions contribute to the crash, such as following a commercial truck too closely.
In general, catastrophic injury cases result in higher settlement values due to the extent of the losses suffered by the victim. Cases involving permanent injuries, for example, could have values reaching into the millions to make up for a lifetime of related costs.
How to Maximize Your Truck Accident Settlement in New Mexico
A truck accident could cost you your health, daily enjoyment of life and prospects for the future. While no amount of money can take back what happened to you, a fair settlement can make it easier to move forward with the medical care and resources you need. There are certain steps you can take to improve the outcome of your case.
Don’t Accept the First Offer
It is important not to accept any settlement offers from insurance companies before consulting with an attorney. Initial offers are often set low in the hopes that the victim won’t understand the true value of the claim. Insurance companies may also pressure a claimant to quickly say yes to resolve the case.
Once you say yes to a settlement, however, you cannot reopen or renegotiate for a higher value, even if the settlement is unreasonably low. This is why it’s critical not to accept without ensuring the amount is adequate for your situation. Learn the true value of your case and fight for a fair outcome with help from an attorney.
Hire a Truck Accident Attorney for Representation
Don’t rely on an alleged “average” truck accident settlement value to determine how much your case is worth. Hire a lawyer for skilled negotiation and legal representation to secure a fair settlement when results matter most. At the Fine Law Firm, a lawyer will fight in and out of the courtroom on your behalf to achieve justice. To discuss a specific truck accident case, contact us today for a free evaluation.