In New Mexico, a simple car insurance claim may take anywhere from 30 days to 3 months to settle. A more complicated claim is more likely to take around 6 to 12 months. A complex case involving serious injuries or liability disputes can take 1 to 2 years or longer. Receiving a payout once a settlement is reached takes an additional 2 to 6 weeks.
Consulting with a seasoned Albuquerque car accident lawyer can help you understand your options and work toward a faster resolution.
What Is the Average Settlement Timeline for a Car Insurance Claim in New Mexico?
There is no one-size-fits-all timeline for a car insurance claim settlement in New Mexico. Every case is unique and will take a different amount of time for a settlement to be reached. Timelines can depend on the complexity of the case, among other factors:
- Several weeks: a simple or straightforward car insurance claim, with minor to no injuries and no complications or disputes.
- Six months to one year: a moderately complex car insurance claim, such as one involving serious injuries or multiple liable parties.
- One year or longer: a highly complex claim with severe or catastrophic injuries, a lack of insurance company cooperation, or litigation required.
The average settlement timeline is one to three months. However, a specific car accident insurance claim could take much longer if it encounters complications. A case that needs to go to trial, for instance, could take multiple years from start to finish.
What Can Affect a Car Insurance Claim Settlement Timeline?
The reason why car insurance claims in New Mexico do not come with a standardized timeline is that each case is one-of-a-kind. While cases may have similarities, no two are exactly alike. Each car accident case has individual elements and factors that can influence the length of time it takes to reach an insurance settlement.
These factors include:
- The severity of the victim’s injuries
- The length of time it will take the victim to reach the point of maximum medical improvement
- The complexity of the claim
- The number of defendants and any liability disputes
- How much each party is willing to cooperate
- The need to hire expert witnesses for professional insights
- How long does it take to negotiate a fair and reasonable settlement
- The availability of the courthouse, if a trial is needed
In general, catastrophic and fatal car accident cases will take longer to resolve than minor injury claims. These cases are often higher in value due to enhanced damages suffered by the victim. This leads to a higher likelihood of insurance company pushback, the need to bring in experts and a lengthier settlement process.
Can I Speed Up My New Mexico Car Insurance Claim?
It is important not to rush the car insurance claims process. You may wish for your claim to reach a settlement as soon as possible, but this type of pressure puts you at risk of accepting a lowball settlement that does not adequately compensate you for your injuries.
As a general rule, you should not accept the first settlement offer – especially if you or a loved one suffered a serious or catastrophic injury in the car accident. Once you accept an offer, you cannot reopen your claim or renegotiate, even if your injuries cost more than originally expected.
Instead of saying yes to a fast settlement, bring your case to a qualified injury lawyer in New Mexico for a professional review. An attorney can make the claims process as fast and efficient as possible while still protecting your legal rights and maximizing your settlement value.