Did you know that rear-end collisions account for around 29% of car accidents in the country? While most rear-end accidents aren’t devastating, even the slightest rear-end impact may be eligible for compensation, depending on the circumstances of the accident.
If you or your loved one has just been involved in a rear-end accident, it’s only natural to wonder about the settlement amount the accident is worth. Keep reading to learn about the payout amount your rear-end accident may be worth.
What Is the Average Pay-Out for a Rear-End Collision?
There’s no average payout amount because the circumstances surrounding rear-end collisions vary. Several factors influence the settlement amount you qualify for, including the following:
Liability and Negligence
Someone is said to be negligent when they don’t behave reasonably under certain circumstances, causing harm to others. Drivers have a duty of care to other drivers and passengers. Failing to observe this duty of care results in negligence.
To prove negligence in a rear-end accident, you should:
- Show that the driver owed you a duty of care
- Prove that the driver breached this duty of care
- Prove that this breach of duty of care led to injuries and other damages
It’s worth noting that “duty of care” is the other driver’s obligation to act reasonably to avoid harming others. Since New Mexico is a comparative fault state, victims of rear-end collisions only receive compensation according to their percentage of fault. For instance, if you were 50% liable for the accident, you’d receive only 50% of the total damages awarded. If you were 70% at fault, you’d only receive 30%.
Evidence and Documentation
If you’re a victim of a rear-end accident, you must present a strong case for your claim to sail through. This requires presenting solid, indisputable evidence that the other driver was responsible for your injuries and other damages.
Common pieces of evidence for rear-end accidents include the following:
- Police reports
- Photographs
- Video Footage
- Witness statements
- Expert witness statements
According to New Mexico Statutes Section 66-7-207 (2018), drivers involved in an accident with damages exceeding $500 must present a written report to the Department of Transportation within five days of the accident. Officers investigating the accident must also do the same within 24 hours after their investigation. These reports are among the most crucial pieces of evidence in advancing your claim.
Type and Extent of Damages
The more damages you suffer because of the accident, the higher the compensation you’ll receive. The damages in New Mexico rear-end accidents fall into two main categories: economic and non-economic. The former refers to tangible financial losses, while the latter are losses difficult to quantify in monetary terms. That’s because the losses are intangible, i.e. emotional distress or pain and suffering.
Economic damages are quantified by adding up the total financial costs of the actual damages. The lawyer will add up the medical costs, vehicle repairs costs, lost wages, and similar expenses to get the payout amount for economic damages. For non-economic damages, on the other hand, the settlement amount can be determined using either the per diem or multiplier method.
Below is a brief explanation of each method
- The per diem method: With this method, you get assigned a dollar amount for every day you experience pain and suffering or emotional distress. In some cases, the per diem method can give plaintiffs a more realistic figure compared to a lump sum.
- The multiplier method: Here, the economic damages are multiplied by a certain factor to get the non-economic damages amount. The more severe your injuries are, the higher the multiplication factor.
Some courts also use a combination of these methods.
How Much Compensation Should I Expect?
It’s difficult to pinpoint the exact amount you can expect following a rear-end accident. However, most victims of such accidents receive between $10,000 to $100,000, depending on the above-mentioned factors. Hiring a skilled and experienced attorney to handle your claims improves your chances of receiving more compensation. This is especially true if you decide to go to trial.
Get the Help of an Experienced Rear-end Collision Lawyer
New Mexico law protects the rights of injured or aggrieved victims of rear-end collisions. If you or a loved one is involved in a rear-end collision, you are entitled to seek compensation. The compensation amount you’ll get depends on the severity of the accident and the percentage of your fault.
For the best outcome, you should seek the services of a reputable and experienced lawyer .Not only will they help you file the claim, but they’ll also negotiate with the insurance company so that you don’t get the short end of the stick.
