One of the first things that victims who are injured in a New Mexico auto accident typically want to know is what is their case valued. This is because most people want to know how they will pay for their medical bills, lost wages, and the agony that they endured. Victims receive what are known as damages, which typically are monetary compensation in personal injury actions. The amount of damages for lost wages and medical bills is fairly easily to calculate, but it is much harder to value the "pain and suffering" aspect of a personal injury case. Learn how to value your New Mexico auto accident case from our Albuquerque auto accident lawyers available here:
Understanding How to Value your New Mexico Auto Accident Case
Pain and suffering is the main component in most personal injury cases. This is also the hardest aspect of your case to value, or to estimate what the case is worth. This is particularly because pain and suffering has a subjective value, or a value what you feel it is worth. That is based on how you felt the pain and how you reacted, handled, and healed to the injuries. There is also an objective value, or that value that other people with similar injuries in similar circumstances felt, how they recovered, and how they handled the injuries.
Taking this one step further, valuing a case is also premised on what other people received in similar cases. This means establishing a "going rate," or what other broken arm cases are worth, other traumatic brain injury cases are worth, or how other similar injuries were compensated by courts, juries, arbitrations, and to a degree other parties that settled.
Thus, when victims are injured in a New Mexico auto accident, the way to value a case is not just based on how it felt for you but how it felt for other people. A review of what other victims also received is also reviewed to get a baseline or estimate what your case may be worth.
Victims in New Mexico Auto Accidents are Entitled to Reasonable Compensation
One of the overarching principles to be aware of is that a victim of a New Mexico auto accident should be reasonably compensated for his or her injuries. This is completed through an evaluation of similar case awards or settlements. A victim will be considered against those other cases.
By way of example using created facts and value, if a 40 year old victim suffered a broken arm, with surgery to add hardware, and had some permanent pain and aches and received $100,000 (**not a true estimate; for demonstration purposes only), this would be evaluated against other broken arm cases. If you also have a broken arm and:
- Are 50 years old, your case would be worth a little less because there is less future pain and suffering would be 10 years less based on your life expectancy;
- Had two surgeries, one for adding hardware and one for removal, your case would be worth more because of the added surgery;
- Did not have permanent aches and pains, your case would be worth less;
- Had the added issue of nerve pain in your fingers (brachial plexus injury), your case would be worth more.
It would be up to the attorneys and the Court (judge or jury) to weigh factors to determine what is reasonable and fair compensation for you based on these considerations.
Valuing a New Mexico Auto Accident Case is Difficult, Ask Us to Do if For You!
Here at the Caruso Law Offices, P.C., our trained staff know how important it is for you to recover compensation for your personal injuries caused by another party's negligence. We know that you want to know what your case is worth and how we can help obtain the maximum compensation that you may be entitled to under New Mexico law. As our experienced Albuquerque auto accident lawyers how we can help you obtain the most compensation you may be entitled to for your injuries. Call to schedule your FREE appointment with our lawyers at the Caruso Law Offices, P.C. by dialing (505) 883-5000.
We handle causes throughout New Mexico, including Las Cruces, Santa Fe, Roswell, Cuervo, Rio Rancho, Clovis, Farmington, Hobbs, Albuquerque where our office is located, and anywhere else throughout New Mexico. Please call to schedule for FREE appointment by dialing (505) 883-5000 or contact us through our website's easy to use and convenient contact box available here.