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What Is the Process of New Mexico Car Accident Settlements?

What Is the Process of New Mexico Car Accident Settlements?

Shapiro Law Team August 29, 2023 Car Accidents,Personal injury

Most accidents are caused by human error. Between negligence, distracted driving, and driving under the influence, it’s unnerving to think that we really don’t know who we are sharing the road with. Unfortunately, car accidents can happen anytime, anywhere—and the legal proceedings following a collision aren’t any less challenging. Luckily, you don’t have to face your case alone.

How to File New Mexico Car Accident Settlements?

If you’ve been involved in a car crash, you need to act fast. New Mexico is a tort state, which means you must file a claim with the other driver’s insurance company. This typically starts with a form provided by the other driver’s insurance company.

Make sure you have an experienced personal injury lawyer on your side when filing a claim in New Mexico. Shapiro Law Team can help you achieve the best outcome and compensation possible.

How Long Does It Take to Settle a Car Crash Injury Case in New Mexico?

Car Accident Settlement Timeline in New Mexico

The statute of limitations for filing a personal injury claim in New Mexico is three years from the date of the accident. We highly advise you to file immediately to avoid any future issues.

1. Seek Medical Treatment

Your health should always be at the top of your to-do list. Seek medical treatment following your car accident, regardless of how minor the collision was. Failing to seek medical help is not only detrimental to your health, but the other driver’s insurance could hold this procrastination against you.

2. Get Your Case Evaluated by a Lawyer

Unless you’re a lawyer, legal proceedings are confusing. Having a legal professional evaluate your case is a pivotal step in your claim. An attorney at Shapiro Law Team will evaluate the evidence and fight for a favorable outcome.

3. Send a Demand Letter

A demand letter is exactly what it sounds like. This is a formal correspondence outlining your claim, detailing the damages you’ve suffered, and requesting the compensation you’re seeking.

4. File a Lawsuit

If your negotiations are rejected, filing a lawsuit might become necessary. This step is significantly more manageable with skilled legal representation from a personal injury attorney.

5. Mediation, Trial, or Settlement

You have the freedom to accept or decline an offer. The latter is likely to happen. This is due to insurance companies offering as little as possible. An attorney from Shapiro Law Team can handle every aspect of your court proceedings.

Albuquerque car accident lawyer


What Is the Average Car Accident Settlement in New Mexico?

Unfortunately, we cannot give an accurate settlement number as settlements vary case by case. For example, bumping into someone’s fender in a parking lot won’t be as severe as someone who gets T-boned in the middle of a busy intersection.

To determine compensation, Shapiro Law Team looks at the following:

  • Car repairs
  • The fault and damages
  • Present and future medical bills
  • Current or future lost wages from work

What Damages Can I Claim in a New Mexico Car Accident Settlement?

There are three types of claimable damages for personal injuries: economic, non-economic, and punitive. Let’s unpack each one.

  • Economic Damages
    Economic damages refer to measurable losses. These losses include medical costs, past and future lost wages, future medical care, physical therapy, medical devices, and other out-of-pocket expenses.
  • Non-Economic Damages
    Non-economic damages are harder to measure. These losses include pain and suffering, depression, mental health decline, loss of enjoyment, and even PTSD.
  • Punitive Damages
    Punitive damages are rare. These damages are for victims involved in gross negligence accidents. This means that a judge determines it is within reason to punish the at-fault party.

New Mexico Driving & Car Accident Laws

New Mexico has strict laws revolving around car accidents and vehicle operations. Let’s take a look at New Mexico’s insurance laws and statute of limitations.

Insurance Laws

As a driver in New Mexico, you are required to maintain and provide a certain amount of auto insurance. Driving without insurance can lead to serious legal consequences, including license suspension and vehicle impoundment.

Below are the three main types of auto insurance required to operate a vehicle in New Mexico:

  • $25,000 in bodily injury insurance per person
  • $50,000 in bodily injury per accident
  • $10,000 in property damage

Statute of Limitations

Even though you have the freedom to seek compensation, New Mexico implements a strict statute of limitations. You have up to three years from the date of the accident to file a claim. Otherwise, you may lose out on compensation completely. File a claim as soon as you can following your car crash for the best chance of receiving maximum compensation.

Albuquerque car accident lawyer


Is New Mexico a No-Fault State for Car Accidents?

No. Even though most states are no-fault, New Mexico is an at-fault state. This means that the party responsible for the accident will be held financially accountable. A licensed car accident attorney in Albuquerque can help you build a strong case following your collision.

Involved in an Accident? Reach Out to Shapiro Law Team

Car crashes are devastating for all parties involved. If you or a loved one has been injured in a car accident and need legal help, don’t hesitate to contact Shapiro Law Team. Don’t lose out on compensation. Call us for a free consultation today.

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