Have you been injured in a car accident and now you’re wondering what you have to do to make a personal injury claim? Are you worried about how lost wages from taking time off work will add to your mounting medical bill debt?
If you’re a Colorado Springs resident who’s looking to collect money for injuries sustained from a car accident, you might wonder how the state of Colorado calculates damages (i.e. the money you receive). You may also be curious about how the insurance claim process works.
Read on for an easy to understand explanation (hopefully!) of how damages are calculated to help you better manage your personal injury claim in Colorado.
Personal Injury Claim Insurance in Colorado
Colorado requires all drivers to have at least of $15,000 for damages and $25,000 for personal injury claims in order to compensate other people in the event the driver is at fault in an accident.
Most car insurance providers in Colorado advise drivers to buy insurance for uninsured motorist. This is injury insurance you purchase to cover your injuries and expenses in the event you are in a car accident where the other driver is at fault but does not have his/her own personal injury insurance.
Click to learn more: Car insurance requirements info from the Colorado DMV
Calculating the Amount of a Personal Injury Claim
Calculating the amount of the personal injury claim can be complex and difficult to predict. To keep this explanation easier to understand, we will break the types of claims into three categories: economic factors, non-economic factors, and punitive factors.
Economic factors are provable expenses such as medical bills, lost wages from work absence and damaged property. So long as you save receipts of your expenses and have supporting evidence of your costs, Colorado courts will base the calculation of the money you receive on your actual expenses and losses.
Non-economic factors include harder to quantify injuries such as pain and suffering, stress, anxiety, emotional distress, loss of companionship, inconvenience, and loss of enjoyment of life. Insurance companies use a multiplier effect to quantify non-economic damages, which is basically an assessment of how deeply the accident changed your life. It’s a good rule of thumb to document everything about the accident (even by, for instance, writing in a journal) if you believe you have sustained damages that may be difficult to quantify.
Punitive factors are a rarer form of damages you may be able to pursue. This category of damages is awarded in lawsuits where the person at fault exhibited extreme negligence or recklessness.
Personal Injury Claim And Negotiation Process
Insurance companies are not your friend when it comes to calculating personal injury damage amounts. They may try to get information from you that helps their case, but puts you at risk of a lower settlement.
An insurance company may recommend medical treatment or justify certain claims and convince you to sign off on a low settlement amount. Dealing with the insurance companies is one of the primary reasons to work with a Colorado Springs personal injury attorney. Your attorney will deal with the insurance companies and advise you on the best decisions and actions for you.
Your attorney is on your side, fighting for your best interests. You will not need to deal with the added strain of dealing with the insurance company and wondering what information you should tell them. Your Colorado personal injury lawyer will estimate the damages and contact the insurance company, continuing negotiations until you settle.
During the settlement negotiations process, you can accept or decline an offer. But, your best bet is to have a personal injury lawyer on your side who understands Colorado injury laws and can fight on your behalf for the best result.
The Time Frame Of A Personal Injury Claim
You will need to wait until you are discharged from medical care before seeking a settlement–your doctor will have to clarify that you received care and you’ll need paperwork to prove every part of the treatment.
For the settlement demand, when your personal injury lawyer submits information to the insurance company, will typically take at least a couple of months, after which time you can expect the insurance adjuster to spend another few weeks (or even months) to get back to the lawyer with a settlement.
All in all, you can expect the case to take anywhere from several months to a year. In rare cases, the personal injury lawsuit can drag out for over a year.
Statute Of Limitations On Personal Injury Claims
The statute of limitations (i.e. time you have to file a claim) in Colorado for the personal injury claims is two years unless it’s an automobile accident, in which case the statute is three years. You must file your lawsuit within this time frame. Otherwise, you will not be eligible for any compensation.
The sooner you act the better. Even if you don’t think your injuries are severe enough for a personal injury lawsuit, you should see a doctor immediately after the accident.
You then should keep a watch out for delayed effects of the accident. Some injuries don’t show up immediately after the accident. You will need to prove your injuries if you go to court, and you want to have a well documented medical history of the accident in your hand when you go to Colorado Springs injury court. Your attention to details will look good to the judge.
Schedule A Free Consultation With A Colorado Springs Personal Injury Attorney
There is no cost or risk to speak with a personal injury attorney. You should speak with an attorney as soon as possible after the accident to determine whether you have a case, and if so, how long compensation will take.
If you are injured in a car accident in Colorado Springs, you need the best personal injury lawyer in the Pikes Peak region. This is not the time to work with an apathetic or unskilled lawyer. King & Beaty has the experience, ability and skilled staff you will want on your side.
Contact King & Beaty to schedule your free consultation with a Colorado Springs accident attorney to determine if you have a case.
Call (719) 505-9999
