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Verdicts & Settlements

Important Things to Know About Truck Accident Settlements in Albuquerque

— April 7, 2022

The conclusion of most truck accident lawsuits is a settlement agreement between the victim and the company or driver responsible for the injuries.

Albuquerque, NM – People who are injured in truck crashes need various kinds of financial assistance because of their medical issues and limited ability to work. They may experience lost income and wages due to not being able to work, and healthcare costs can be extremely expensive, especially if the person has some kind of long term injury or permanent disability. Most truck accident cases will be concluded with a settlement agreement that commits both the plaintiff and defendant in the case to various terms. 

Settlement negotiations should only be handled by experienced New Mexico truck accident lawyers. They can provide specific advice to anyone who needs more information about this process. 

The reason for a settlement 

The conclusion of most truck accident lawsuits is a settlement agreement between the victim and the company or driver responsible for the injuries. Settlements are very common in civil lawsuits, as trials can be costly and time consuming, and there are additional legal fees that must be paid to engage in a full trial in court. Settlements are an attempt by both sides to end the litigation while meeting their goals such as adequate compensation for the victim, or limiting liability and the size of payouts by the defendant.  

A settlement should compensate the victim sufficiently

While a settlement may not pay for the entirety of the plaintiff’s losses, their attorney should still attempt to get an amount that is satisfactory for their client through negotiations. The victim should know that they have the option of rejecting offers until they are given a sufficient amount, even if it causes the case to take longer to resolve. It is common for insurance companies that represent drivers after accidents to initially offer low settlement amounts to try to limit their losses and save money. A discussion with Albuquerque truck accident lawyers can clarify what is a reasonable amount based on the person’s losses and long term problems. Once a settlement has been accepted, this will end the case entirely. Therefore, it is important to get an amount that also factors future losses as well as the victim’s prior medical treatment costs.

Image by Wannapik Studios.
Image by Wannapik Studios.

When would a trial be necessary?

It is still possible that the victim can ask for a trial if they need to argue certain disputed issues in court. While this is rare, it is possible that there can be serious disputes of fact related to the accident and the trucking company’s liability. If it appears that the two sides cannot agree on these matters, they may be better off arguing them in front of a jury. 

Help from a local truck accident lawyer

Anyone who needs assistance after being injured by a truck driver can get help from attorneys near me. The directory on lists accident lawyers in New Mexico and every other state. 

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