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What Is the Average Payout for a Motorcycle Accident in New Mexico?

Posted in Motorcycle Accidents

Motorcycle accidents can result in serious injuries, expensive medical bills, and life-altering consequences. Knowing how much your accident claim is worth and anticipating how the accident will affect you well into the future can be difficult. The experienced motorcycle accident lawyers at Fine Law Firm want to help you recover the maximum compensation available for your claim. We can review your claim and help determine its potential value. Contact us at (505) 889-3463 for a free consultation.

Factors that Can Affect the Value of a Motorcycle Accident Claim

There is no set amount that a motorcyclist can expect for an accident. Every accident and claimant is different. Several factors can affect the potential monetary value of a motorcycle claim, including:

  • Injuries – The type and severity of injuries directly correlate to the potential value of a motorcycle accident claim. More serious injuries may increase the value of the claim. Insurance companies may use programs to determine the value of a claim based on the injury sustained and offer a similar amount to a claimant. However, the claimant does not have to accept the first offer if they do not believe it represents fair compensation. Claimants may want to ensure that their settlement fully compensates them for the cost of all current medical bills as well as the costs they will likely incur in the future.
  • Lost wages – Motorcycle accidents can result in severe injuries that keep you out of work for weeks, months, or even permanently.
  • Pain and suffering – If you suffered serious injuries that result in prolonged pain, your claim may be more valuable.
  • Insurance policy limits – The insurance company will only offer a settlement up to the amount of the applicable insurance policy. An experienced lawyer can identify all potentially liable parties and sources of compensation to maximize your financial recovery.
  • Liability – If liability is clear and evidence is strong, the value of the case is higher. However, if there is evidence that the motorcyclist was partly to blame for the accident, the potential amount of compensation can be reduced.
  • Disposition of case – If the case goes to trial, a judge or jury may award a higher amount. However, there will also likely be more significant legal costs and fees, which are reduced from any payout you receive.
  • Legal representation – Having a strong legal advocate in your corner can also help increase the potential value of your claim as they are more experienced at negotiating and evaluating a fair amount of compensation for personal injury claims.

An experienced personal injury lawyer can help review your case and determine its potential value.

What Is a Good Payout for My Motorcycle Accident Claim?

What is a “good” payout in one situation may not be “good” in another situation. And while a settlement offer may seem like a windfall at first, it may not be a fair offer if the victim is facing a lifetime of care or reduced earning ability due to the motorcycle accident. An experienced motorcycle accident lawyer can assess whether a settlement offer is good or not.

Contact an Experienced Motorcycle Accident Lawyer for Help

If you or a loved one was injured in a motorcycle accident, the Fine Law Firm is here to help. We can review any proposed settlement offers and fight for the fair compensation you deserve. Contact us today at (505) 889-3463 for your free consultation.