After an accident which causes you to suffer an injury, you likely have a rough idea of the level of responsibility you have for your own damages. In most cases, this usually means that you believe that you are 0% to blame and that the other party should pay for 100% of your medical bills, rehabilitation costs, and other losses. But what happens if the other party has the exact same mindset and believes that you are to blame?
Split Liability Agreements = Compromises
Simply put, a split liability agreement is when a plaintiff and defendant in a personal injury claim each accept a certain percentage of responsibility for damages stemming from the accident. Many split liability claims start as a 50/50 split with both parties paying for half the damages, allowing parties to settle a complex claim in a much shorter amount of time than through litigation.
In other cases, investigations may alter these balances to reflect a greater amount of liability for one party, such as a 75/25 split. Unequal split liability agreements may be offered in instances where one party appears to have held a greater proportion of responsibility for an accident but is not entirely at fault. While the exact percentages of a split liability agreement will vary depending on evidence such as witness testimonies, photographs, and the extent of damages suffered, the values will usually be in easily divisible amounts.
When Is a Split Liability Agreement Appropriate?
Generally speaking, split liability agreements are desirable in cases which are overly complex which have little hope of being won at trial. In other words, if you don’t think you can win your lawsuit and know you are at least partially responsible for your accident, it may be in your best interests to accept a split liability agreement and recover whatever amount you can.
In any case, it is recommended you do not accept any settlement agreement without first consulting with your personal injury lawyer. A skilled professional will be able to help you get a better understanding of your circumstances and how much you will likely recover if your claim were to be resolved in court.
Injured? Contact Michael J. Doyle, Attorney at Law
If you live in New Mexico and need legal counsel regarding whether or not you should accept a split liability agreement, Michael J. Doyle, Attorney at Law can help. Contact our Albuquerque personal injury attorneys today to retain a team of advocates with more than 10 years of proven legal experience.