How Much Your New Mexico Car Accident Lawsuit May Be Worth

Answer:

The value of every car accident injury lawsuit is different. However, there are a few indicators that can clue you in as to how much your case may be worth, including medical bills, lost wages, and other forms of evidence. Due to the legal complexities surrounding accident injury claim valuations, it is best to speak with a New Mexico personal injury lawyer if you need personalized advice.

In This Article

A car accident injury lawyer in Las Vegas, New Mexico discusses the different types of awards available after an accident injury, including what you should do if the insurance company refuses to pay you a fair settlement. We also share where you can get legal advice about a personal injury case at no cost.

Types of Compensation Available After a Car Accident Injury

New Mexico law allows injured parties or surviving family members to negotiate a settlement with an insurance adjuster, or if that fails, then file a lawsuit to recuperate damages related to financial, physical, and emotional losses. Damages is the legal term that refers to monetary awards associated with civil injury claims and lawsuits. There are three types of damages in a car accident injury lawsuit, including economic, non-economic, and punitive damages.

Let’s take a closer look at each type below:

Type 1. Economic Damages

Economic damages are your direct, measurable losses. As such, they are easier to estimate since they can generally be proven through documentation. The insurance company will pay them according to the terms and conditions of your insurance policy.

Economic damages include things like:

• Medical expenses
• Lost wages and benefits
• Travel to and from doctors’ appointments
• Physical and psychological therapy
• Lost future earning capacity
• Future medical expenses
• Other economic damages

It is vital that you save your receipts, invoices, and statements since they are the documents that you submit to insurance companies and courts to prove your out-of-pocket expenses. Your personal injury lawyer can take over the documentation of your case if you choose to hire one so that you can focus on getting better.

Related Article: How to Prove Lost Wages After a New Mexico Accident

Type 2. Non-Economic Damages

Non-economic damages are the more challenging aspect to measure since they relate to emotional, physical, and cognitive losses. You may need to hire experts to prove these types of losses.

Non-economic damages include injuries related to:

• Physical pain and suffering
• Mental anguish
• Loss of enjoyment of life
• Loss of companionship
• Other non-economic damages

There are a few strategies that I use when approaching negotiation discussions or civil courts in this area. Typically, courts will evaluate your total non-economic damages based upon the severity of your injuries.

Related Article: How Is Pain and Suffering Calculated in New Mexico?

Type 3. Punitive Damages

Punitive damages are not often awarded in New Mexico personal injury lawsuits. They are reserved for making an example of defendants, who exhibit the grossest acts of negligent or reckless behavior. Simply put, judges award them to plaintiffs in an effort to “punish” defendants deserving of additional action.

There are no damage caps as to how much you can recuperate for punitive damages in New Mexico. A personal injury attorney will communicate if they believe that your case is a good candidate for requesting these types of civil damages.