How Is Pain and Suffering Calculated in New Mexico Lawsuits?
After you’ve been injured in an accident in New Mexico, you quickly realize how much your injuries negatively affect your life. It goes far beyond the financial ramifications, such as medical bills, lost income, and costs of physical therapy treatment.
Your entire life can be placed on hold while you recover, you will be dealing with serious physical pain, and your injuries could even be permanent, causing your life to change forever.
These issues may not cost money directly, but they can affect you far longer than financial damages do. In fact, non-economic damages, often known as pain and suffering damages, can be paid out in an injury lawsuit. But how is pain and suffering calculated in New Mexico lawsuits?
How Your Pain and Suffering Could Be Calculated
When financial losses are calculated, you simply add up the expenses that your accident left you with. It’s also fairly simple to guesstimate future financial losses. However, pain and suffering is a subjective concept, so it can be difficult to come up with a fair value for your negative experience.
Nevertheless, insurance companies (and the court, if your case goes to trial) will attempt to figure out a value, because financial compensation is the only way to pay back a victim for what they’ve been through. After all, your accident can’t be undone.
One of the ways your pain and suffering is calculated is by adding up your financial losses, then multiplying those damages by a number between one and five. The multiplier is chosen based on the seriousness of your injuries.
Another way to come up with a figure is to compare your case and your injuries to similar cases.
In the end, though, no matter what method is chosen, you should receive the amount of compensation you feel is fair for what you’ve been through.
Connect with a Personal Injury Lawyer in New Mexico
Now you have a better understanding of how pain and suffering is calculated in New Mexico lawsuits. For help getting the settlement you deserve for both your financial and nonfinancial losses, contact an injury lawyer at Will Ferguson & Associates now. A free consultation is yours when you call our firm at 505-633-0750 or when you send in the web submission form below.