In Colorado, there is no reliable statewide average that can tell an injured person what their own case is worth.
The value of a settlement depends on the injuries, medical costs, lost income, available insurance, and evidence of fault. A minor injury that heals quickly will usually have a different value from an injury that requires surgery or causes a permanent disability.
What Factors Affect a Personal Injury Settlement?
Several factors can increase or decrease the amount of a settlement.
Important factors may include:
- The severity of your injuries
- Permanent disability or scarring
- Available insurance coverage
- Whether your case settles or goes to trial
- Evidence showing who caused the accident
The length of recovery can also affect the value of a claim. An injury that requires surgery, ongoing rehabilitation, or future medical care may result in greater losses than an injury that heals within a few weeks. Lost wages and a reduced ability to earn income can also influence settlement negotiations.
How Do Medical Bills Affect a Settlement?
Medical expenses are often a major part of a personal injury claim.
Emergency care, surgery, physical therapy, medication, and follow-up appointments can all increase the financial cost of an injury. A serious injury may also require future treatment.
Medical records can help show the nature of the injury and the treatment it requires. Gaps in treatment or disputes over whether treatment was related to the accident may affect settlement negotiations.
What if You Were Partly at Fault?
Colorado uses a modified comparative negligence rule. This means an injured person can still recover economic and non-economic damages when they share some responsibility for an accident, as long as their fault is less than the defendant’s.
For example, someone who has $100,000 in damages but is found 20% responsible could have the recovery reduced to $80,000. However, if they were found 50% or more responsible for the accident, they wouldn’t be entitled to compensation.
How Can Insurance Coverage Limit a Settlement?
Insurance coverage can have a major effect on how much money is available after an accident.
An injured person may have damages that exceed the at-fault party’s liability limits. Depending on the type of accident, other insurance policies or responsible parties may provide additional sources of compensation.
This is one reason a serious injury does not automatically result in a large settlement. The available coverage and assets can affect how much can actually be recovered.
How Long Do You Have to File a Personal Injury Claim in Colorado?
Colorado generally provides a two-year statute of limitations for many personal injury lawsuits. However, lawsuits involving bodily injury arising from the use or operation of a motor vehicle generally have a three-year deadline.
Other rules or shorter deadlines can apply in some cases. Although filing within the applicable deadline does not determine whether a settlement will be above or below any supposed average, preserving evidence and documenting losses can be important when determining what a particular claim is worth.
Call King & Beaty, LLC Today for a Free Consultation With a Colorado Springs Personal Injury Lawyer
There is no standard settlement amount for a personal injury claim in Colorado. The value of a case depends on the injuries involved, financial losses, available insurance coverage, evidence of fault, and other circumstances.
If you were injured because of someone else’s negligence, we can review your situation and explain your legal options. Contact an experienced Colorado Springs personal injury lawyer at King & Beaty, LLC today to schedule a free consultation.
